US Skilled Nursing Market Analysis

US Skilled Nursing Market Analysis


$ 3999

US Skilled Nursing Market is projected to grow from $xx Mn in 2023 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2023 - 2030. The market for Skilled Nursing is expanding as a result of increasing geriatric population and increasing prevalence of chronic disease. Increasing demand for post-acute are is also fueling the need for specialized and skilled nursing in developing and developed countries. Some of the key players in the global Skilled Nursing Market include Genesis Healthcare Inc., Brookdale Senior Living Inc., Ensign Group Inc., Life Care Centers of America, Kindred Healthcare Inc., Extendicare Inc., Sunrise Senior Living, Atria Senior Living, SavaSeniorCare Administrative Services LLC., and Consulate Health Care.

ID: IN10USHS098 CATEGORY: Healthcare Services GEOGRAPHY: US AUTHOR: Aneri Parekh

Buy Now

US Skilled Nursing Market Executive Summary

US Skilled Nursing Market is valued at around $141.96 Bn in 2022 and is projected to reach $212.96 Bn by 2030, exhibiting a CAGR of 5.2% during the forecast period 2023-2030.

The Skilled Nursing Market refers to the market for long-term care or specialized care provided by skilled nursing staff to individuals who require medical and personal care services. The market includes skilled nursing facilities like care services, rehabilitation services, and activities of daily living support. Growing health awareness among people is influencing the market for skilled nursing facilities.

The prevalence of chronic diseases is increasing with every passing year and it leads to disability and death of patients. According to WHO around 41 Mn people died because of chronic diseases worldwide in 2022, which is accounting for 74% of all deaths. The aging population is increasing and with age, people tend to develop more diseases and need specialized care for the management of daily activities. It has contributed to the growth of the global skilled nursing market in recent years.

There are many players in the global skilled nursing market but Genesis Healthcare Inc., Brookdale Senior Living Inc., Ensign Group Inc., Life Care Centers of America, Kindred Healthcare Inc., Extendicare Inc., Sunrise Senior Living, Atria Senior Living, SavaSeniorCare Administrative Services LLC., and Consulate Health Care are some of the major players in the market.

The skilled nursing market is expanding due to factors like population demographics, healthcare policies, and reimbursement systems. The geographical region also affects the demand for skilled nursing. Advancement in technology like remote monitoring of patients and telehealth has contributed to the growth of skilled nursing facilities.

The aging global population, government support, and initiatives, and increasing healthcare expenditure are projected to fuel the market for skilled nursing in coming years. The market may yet have difficulties with regard to obtaining regulatory permission, shortage of skilled staff, limited insurance coverage, and high competition, as well as the high price of various skilled nursing facilities.

Market Dynamics

Drivers of US Skilled Nursing Market:

Aging Population: It is a significant driver for the growth of the skilled nursing market. The aging population is continuously growing and they are increasing demand for long-term care services which includes skilled nursing services as well.

Increasing Prevalence of Chronic Diseases: Chronic diseases like cardiovascular diseases, diabetes, respiratory diseases, Alzheimer’s disease, and neurological diseases are increasing and it requires management of the condition, rehabilitation, and specialized care. So, it is driving demand for skilled nursing.

Increasing Healthcare Expenditure: The market for skilled nursing is expanding as a result of rising healthcare spending in both developed and developing nations. This demand is fueling the market for specialized and skilled nursing facilities.

Government measures and support: Governments throughout the world are supporting the facilities of skilled nursing. The government is providing funding and taking initiatives for the awareness of these facilities to the general population. The government has contributed to the growth of the skilled nursing market.

Restraints of US Skilled Nursing Market:

High Cost: The cost of providing skilled nursing care is high and it is increasing with time due to a lack of workforce, regulatory compliance, and medical supplies. Maintaining reasonable prices to maintain a target audience and management costs can be a challenge for the skilled nursing market.

Shortage of Skilled Staff: There is a shortage of skilled healthcare professionals like registered nurses and certified nursing assistants. It can affect the quality of care provided by nursing staff and patient outcomes. Recruitment and retention of staff are a challenge in the skilled nursing market. It can hamper the growth of the market.

Insurance Coverage Limitation: There are certain limitations to the coverage of insurance that hinder the growth of the skilled nursing market. Limitations like the length of stay and exclusion of certain services from insurance are poising the growth of the skilled nursing market as it can be a financial constraint for patients and limit the expansion of providers.

High Competition: Skilled nursing market is highly competitive as there is already an end number of players in the global market. For staying in the market, players have to differentiate themselves from other competitors through quality of care, specialized services, and relationships with physicians and healthcare facilities for referrals.

Key players

Genesis Healthcare, Inc. Brookdale Senior Living, Inc. HCR ManorCare, Inc. Kindred Healthcare, Inc. Encompass Health Corporation SavaSeniorCare Administrative Services LLC Life Care Centers of America Consulate Health Care Five Star Senior Living Inc. Golden LivingCenters

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Market Segmentations For US Skilled Nursing Market

By Facilities:

  • Freestanding
  • Hospital

By Ownership:

  • Non-Profit
  • Profit
  • Government

By Services:

  • Intensive Rehabilitation Therapy
  • Low and Medium Rehabilitation
  • Medically Complex
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

To request a free sample copy of this report, please complete the form below.


We value your inquiry and offer free customization with every report to fulfil your exact research needs.


This report addresses

  • Intelligent insights to take informed business decisions
  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
  • Comprehensive Market Research Report in PDF and PPT formats

Need more?

  • Ask our analyst how this study was put together to learn more
  • Discuss additional requirements as part of the free customisation
  • Add more countries or regions to the scope 
  • Get answers to specific business questions 
  • Develop the business case to launch the product
  • Find out how this report may influence your business revenue
Last updated on: 27 June 2023
Updated by: Vidhi Upadhyay

Related reports (by category)


Related reports (by geography)


subscribe to our newsletter
up