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LI200295 |
Pages: 220 |
Jan 2023 |
There has been an increase in chronic disease cases over the last few years, and many illnesses require long-term care. Chronic illness management and treatment are becoming major concerns. Private nursing services are anticipated to be primarily driven by the ability of nursing professionals to provide patients with superior care and individualized attention. Changes in social life were a major factor in the growth of the market for private nursing services. The division of joint families into nuclear families has resulted in smaller family groupings, making it more challenging to care for the family member who is dependent. Private nursing services are anticipated to see an increase in demand as a result.
However, the two biggest barriers are the lack of services in rural regions and the availability of unskilled healthcare workers. Obtaining the appropriate care might be difficult for rural residents since they typically confront several barriers in the healthcare system. The expansion of this industry is constrained for a variety of reasons, including the costs associated with private nursing care and the commute required to access and utilize the services. The primary barriers to the expansion of the private nursing services industry are the scarcity of qualified professionals owing to a lack of education, appropriate skills, and working professionals with experience.
Government support and advantageous reimbursement policies are anticipated to open up new opportunities in this sector. Additionally, it is projected that the availability of extremely beneficial services as well as the increasing frequency and prevalence of chronic diseases among individuals worldwide would fuel this private nursing services market growth throughout the course of the anticipated timeframe.
According to regional analysis, the Asia-Pacific private nursing service market share is predicted to have the fastest growth in the forecast time period. This is because in China, healthcare authorities have started a new wave of healthcare changes that favor in-home nursing services. The nation's graded healthcare system has been improved by introducing electronic medical record capture of patients and allowing doctors to practice medicine more freely.
Private nursing services are provided by nurses who hold a Licensed Practical Nurse (LPN) or Registered Nurse (RN) license. Professionals offer these services to patients on an individual basis. These services are provided to patients in accordance with their needs, whether the setting is the patient's home, a medical facility like a hospital or nursing home, or somewhere else; they are provided to patients who have serious illnesses or injuries, or who require assistance in caring for the elderly or young children.
Infectious disease COVID-19 was first discovered in Hubei province of Wuhan City. SARS-CoV-2, an extremely contagious virus that causes severe acute respiratory syndrome, spreads from person to person. Since the diseases initial outbreak in December 2019, it has spread to nearly 213 nations, prompting the World Health Organization to declare a public health emergency on March 11, 2020. In addition to the healthcare issue, the 2019 corona virus disease (COVID-19) has caused an economic disaster. The COVID-19 epidemic has put a strain on the healthcare system globally, and affluent nations are predicted to experience an economic downturn. The epidemic negatively affects the healthcare system, which saw a 50% to 70% decline in revenue from March. Small clinics, hospitals, and nursing homes have been compelled to close their doors. Additionally, regional curfews and social isolation have delayed elective surgical treatments. Furthermore, the expansion of the private nursing services sector may be significantly impacted by visa cancellations, which have halted medical tourism.
However, in February 2021, the Indian government took a new initiative for the health care industry: the PM Ayushman Bharat Health Infrastructure Mission (PM-ABHIM) Scheme, with an estimated outlay of Rs. 64,180 Cr (to be implemented until 2025-26), was announced in the budget for FY 2021–22. The scheme's goals are to focus on building the capacities of health systems and institutions across the continuum of care at all levels—primary, secondary, and tertiary—and on preparing health systems to respond effectively.
There has been an increase in chronic disease cases over the last few years, and many illnesses require long-term care. Chronic illness management and treatment are becoming major concerns. Private nursing services are anticipated to be primarily driven by the ability of nursing professionals to provide patients with superior care and individualized attention. Changes in social life were a major factor in the growth of the market for private nursing services. The division of joint families into nuclear families has resulted in smaller family groupings, making it more challenging to care for the family member who is dependent. Private nursing services market size are anticipated to see an increase in demand as a result.
To know more about global private nursing services market drivers, get in touch with our analysts here.
The two biggest barriers are the lack of services in rural regions and the availability of unskilled workers. Obtaining the appropriate care might be difficult for rural residents since they typically confront several barriers in the healthcare system. The expansion of this industry is constrained for a variety of reasons, including the costs associated with private nursing care and the commute required to access and utilize the services. The primary barriers to the expansion of the private nursing services industry are the scarcity of qualified professionals owing to a lack of education, appropriate skills, and working professionals with experience.
Rise in healthcare expenses have boosted patient choice for home-based therapies. Patients in home care settings employ nebulizers, ventilators, and continuous positive airway pressure (CPAP) equipment to treat, diagnose, and monitor a variety of respiratory disorders. These technologies, in conjunction with home care services, provide patients with cost-effective healthcare. The fast increase in the global geriatric population, increase in incidence of chronic illnesses (asthma), and the cost benefits of home care equipment and services (compared to hospital visits) are the primary drivers driving the expansion of the home healthcare market. The high private nursing services growth potential in emerging markets, healthcare decentralization, and the advancement of miniaturized equipment are just a few of the primary reasons that are anticipated to bring considerable growth prospects to respiratory home healthcare market participants.
To know more about global private nursing services market opportunities, get in touch with our analysts here.
On the basis of service type, the market has been divided into retirement communities, group care homes, nursing care facilities, and home health care providers. Among these, the home health care providers sub-segment accounted for the highest market share in 2021 whereas the retirement communities' sub-segment is estimated to show the fastest growth during the forecast period.
Source: Research Dive Analysis
The home healthcare providers sub-type is anticipated to have a dominant market share in 2021.The adoption of nuclear families has led to a decline in the number of individuals living at home, which has a negative impact on the ability to care for the elderly residents of the home. When individuals lived in joint families in the past, other family members in the home would take care of the elderly and retired because there were so many of them. The number of people in families has decreased as a result of this shift in societal trends and the rise of nuclear families. This has increased the need for healthcare experts, which has boosted the number of retirement homes in the service sector.
Based on gender, the market has been divided into female and male. Among these, the female sub-segment accounted for highest revenue share in 2021.
Global Private Nursing Service Market Size, by Gender, 2021
Source: Research Dive Analysis
The female sub-segment is anticipated to have a dominant market share in 2021.The female population dominates the market for nursing care. Even patients prefer female nurses over male nurses for their private nursing because they are more compassionate and sensitive than male nurses, who also treat the patients with less consideration. As long as women continue to dominate the nursing field, the market for private nursing services is expected to grow.
The private market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The North American private nursing services market had a dominating market share in 2021. Some of the important variables include the region's huge senior population, advanced healthcare infrastructure, and relatively higher levels of disposable income. Its substantial market share is also being boosted by a growing number of government initiatives designed to reduce healthcare costs by boosting home treatment. For instance, the Hospital at Home program, which allowed patients to get care at home and cut the cost of care by approximately 30%, was implemented. The need for home healthcare goods and services is rising as a result of issues such as underdeveloped healthcare infrastructure, expensive in-hospital healthcare facilities, and chronic conditions that demand long-term care. Furthermore, companies are putting more of an emphasis on underdeveloped nations such as the U.S. and Canada. For instance, Apollo Homecare provides long-term plans for a number of categories, including mother and infant care, geriatric care, heart rehab, and neuro rehab. These programs offer individualized healthcare services and medical oversight.
Customer satisfaction and business expansion are common strategies followed by major market players. For instance, The Ensign Group, Inc., the parent company of the Ensign (TM) group of companies that provide post-acute healthcare services and make long-term healthcare investments, primarily in skilled nursing and senior living facilities, released operating results for the fourth quarter and fiscal year 2021 in February 2022.
Source: Research Dive Analysis
Some of the leading private nursing service market players are The Ensign Group, Inc., Kindred Healthcare, LLC, Genesis Healthcare, Brookdale Senior Living, Kaiser Permanente, CBI Health Group Inc., Trinity Health, Columbia Asia, Apollo Hospitals Enterprise Ltd., and Grand World Elder Care among others.
| Aspect | Particulars |
| Historical Market Estimations | 2020 |
| Base Year for Market Estimation | 2021 |
| Forecast Timeline for Market Projection | 2022-2031 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Service Type |
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| Segmentation by Gender |
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| Key Companies Profiled |
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1.Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.5.Market size estimation
1.5.1.Top-down approach
1.5.2.Bottom-up approach
2.Report Scope
2.1.Market definition
2.2.Key objectives of the study
2.3.Report overview
2.4.Market segmentation
2.5.Overview of the impact of COVID-19 on Global Private Nursing Service Market
3.Executive Summary
4.Market Overview
4.1.Introduction
4.2.Growth impact forces
4.2.1.Drivers
4.2.2.Restraints
4.2.3.Opportunities
4.3.Market value chain analysis
4.3.1.List of raw material suppliers
4.3.2.List of manufacturers
4.3.3.List of distributors
4.4.Innovation & sustainability matrices
4.4.1.Technology matrix
4.4.2.Regulatory matrix
4.5.Porter’s five forces analysis
4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity
4.6.PESTLE analysis
4.6.1.Political
4.6.2.Economical
4.6.3.Social
4.6.4.Technological
4.6.5.Environmental
4.7.Impact of COVID-19 on Private Nursing Service Market
4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario
5.Private Nursing Service Market Analysis, by Service Type
5.1.Overview
5.2.Retirement Communities
5.2.1.Definition, key trends, growth factors, and opportunities, 2021-2031
5.2.2.Market size analysis, by region, 2021-2031
5.2.3.Market share analysis, by country, 2021-2031
5.3.Group Care Homes
5.3.1.Definition, key trends, growth factors, and opportunities, 2021-2031
5.3.2.Market size analysis, by region, 2021-2031
5.3.3.Market share analysis, by country, 2021-2031
5.4.Nursing Care Facilities
5.4.1.Definition, key trends, growth factors, and opportunities, 2021-2031
5.4.2.Market size analysis, by region, 2021-2031
5.4.3.Market share analysis, by country, 2021-2031
5.5.Home Healthcare Provider
5.5.1.Definition, key trends, growth factors, and opportunities, 2021-2031
5.5.2.Market size analysis, by region, 2021-2031
5.5.3.Market share analysis, by country, 2021-2031
5.6.Research Dive Exclusive Insights
5.6.1.Market attractiveness, 2021-2031
5.6.2.Competition heatmap, 2021-2031
6.Private Nursing Service Market Analysis, by Gender
6.1.Female
6.1.1.Definition, key trends, growth factors, and opportunities, 2021-2031
6.1.2.Market size analysis, by region, 2021-2031
6.1.3.Market share analysis, by country, 2021-2031
6.2.Male
6.2.1.Definition, key trends, growth factors, and opportunities, 2021-2031
6.2.2.Market size analysis, by region, 2021-2031
6.2.3.Market share analysis, by country, 2021-2031
6.3.Research Dive Exclusive Insights
6.3.1.Market attractiveness, 2021-2031
6.3.2.Competition heatmap, 2021-2031
7.Private Nursing Service Market Analysis, by Region
7.1.North America
7.1.1.U.S.
7.1.1.1.Market size analysis, by Service Type, 2021-2031
7.1.1.2.Market size analysis, by Gender, 2021-2031
7.1.2.Canada
7.1.2.1.Market size analysis, by Service Type, 2021-2031
7.1.2.2.Market size analysis, by Gender, 2021-2031
7.1.3.Mexico
7.1.3.1.Market size analysis, by Service Type, 2021-2031
7.1.3.2.Market size analysis, by Gender, 2021-2031
7.1.4.Research Dive Exclusive Insights
7.1.4.1.Market attractiveness, 2021-2030
7.1.4.2.Competition heatmap, 2021-2030
7.2.Europe
7.2.1.Germany
7.2.1.1.Market size analysis, by Service Type, 2021-2031
7.2.1.2.Market size analysis, by Gender, 2021-2031
7.2.2.U.K.
7.2.2.1.Market size analysis, by Service Type, 2021-2031
7.2.2.2.Market size analysis, by Gender, 2021-2031
7.2.3.France
7.2.3.1.Market size analysis, by Service Type, 2021-2031
7.2.3.2.Market size analysis, by Gender, 2021-2031
7.2.4.Spain
7.2.4.1.Market size analysis, by Service Type, 2021-2031
7.2.4.2.Market size analysis, by Gender, 2021-2031
7.2.5.Italy
7.2.5.1.Market size analysis, by Service Type, 2021-2031
7.2.5.2.Market size analysis, by Gender, 2021-2031
7.2.6.Rest of Europe
7.2.6.1.Market size analysis, by Service Type, 2021-2031
7.2.6.2.Market size analysis, by Gender, 2021-2031
7.2.7.Research Dive Exclusive Insights
7.2.7.1.Market attractiveness, 2021-2030
7.2.7.2.Competition heatmap, 2021-2030
7.3.Asia-Pacific
7.3.1.China
7.3.1.1.Market size analysis, by Service Type, 2021-2031
7.3.1.2.Market size analysis, by Gender, 2021-2031
7.3.2.Japan
7.3.2.1.Market size analysis, by Service Type, 2021-2031
7.3.2.2.Market size analysis, by Gender, 2021-2031
7.3.3.India
7.3.3.1.Market size analysis, by Service Type, 2021-2031
7.3.3.2.Market size analysis, by Gender, 2021-2031
7.3.4.Australia
7.3.4.1.Market size analysis, by Service Type, 2021-2031
7.3.4.2.Market size analysis, by Gender, 2021-2031
7.3.5.South Korea
7.3.5.1.Market size analysis, by Service Type, 2021-2031
7.3.5.2.Market size analysis, by Gender, 2021-2031
7.3.6.Rest of Asia-Pacific
7.3.6.1.Market size analysis, by Service Type, 2021-2031
7.3.6.2.Market size analysis, by Gender, 2021-2031
7.3.7.Research Dive Exclusive Insights
7.3.7.1.Market attractiveness, 2021-2030
7.3.7.2.Competition heatmap, 2021-2030
7.4.LAMEA
7.4.1.Brazil
7.4.1.1.Market size analysis, by Service Type, 2021-2031
7.4.1.2.Market size analysis, by Gender, 2021-2031
7.4.2.Saudi Arabia
7.4.2.1.Market size analysis, by Service Type, 2021-2031
7.4.2.2.Market size analysis, by Gender, 2021-2031
7.4.3.UAE
7.4.3.1.Market size analysis, by Service Type, 2021-2031
7.4.3.2.Market size analysis, by Gender, 2021-2031
7.4.4.South Africa
7.4.4.1.Market size analysis, by Service Type, 2021-2031
7.4.4.2.Market size analysis, by Gender, 2021-2031
7.4.5.Rest of LAMEA
7.4.5.1.Market size analysis, by Service Type, 2021-2031
7.4.5.2.Market size analysis, by Gender, 2021-2031
7.4.6.Research Dive Exclusive Insights
7.4.6.1.Market attractiveness, 2021-2030
7.4.6.2.Competition heatmap, 2021-2030
8.Competitive Landscape
8.1.Top winning strategies, 2021
8.1.1.By strategy
8.1.2.By year
8.2.Strategic overview
8.3.Market share analysis, 2021
9.Company Profiles
9.1. The Ensign Group, Inc.
9.1.1.Overview
9.1.2.Business segments
9.1.3.Product portfolio
9.1.4.Financial performance
9.1.5.Recent developments
9.1.6.SWOT analysis
9.2.Kindred Healthcare
9.2.1.Overview
9.2.2.Business segments
9.2.3.Product portfolio
9.2.4.Financial performance
9.2.5.Recent developments
9.2.6.SWOT analysis
9.3. LLC
9.3.1.Overview
9.3.2.Business segments
9.3.3.Product portfolio
9.3.4.Financial performance
9.3.5.Recent developments
9.3.6.SWOT analysis
9.4.Genesis Healthcare
9.4.1.Overview
9.4.2.Business segments
9.4.3.Product portfolio
9.4.4.Financial performance
9.4.5.Recent developments
9.4.6.SWOT analysis
9.5. Brookdale Senior Living
9.5.1.Overview
9.5.2.Business segments
9.5.3.Product portfolio
9.5.4.Financial performance
9.5.5.Recent developments
9.5.6.SWOT analysis
9.6. Kaiser Permanente
9.6.1.Overview
9.6.2.Business segments
9.6.3.Product portfolio
9.6.4.Financial performance
9.6.5.Recent developments
9.6.6.SWOT analysis
9.7.CBI Health Group Inc.
9.7.1.Overview
9.7.2.Business segments
9.7.3.Product portfolio
9.7.4.Financial performance
9.7.5.Recent developments
9.7.6.SWOT analysis
9.8. Trinity Health
9.8.1.Overview
9.8.2.Business segments
9.8.3.Product portfolio
9.8.4.Financial performance
9.8.5.Recent developments
9.8.6.SWOT analysis
9.9.Columbia Asia
9.9.1.Overview
9.9.2.Business segments
9.9.3.Product portfolio
9.9.4.Financial performance
9.9.5.Recent developments
9.9.6.SWOT analysis
9.10.Apollo Hospitals Enterprise Ltd.
9.10.1.Overview
9.10.2.Business segments
9.10.3.Product portfolio
9.10.4.Financial performance
9.10.5.Recent developments
9.10.6.SWOT analysis
10.Appendix
10.1.Parent & peer market analysis
10.2.Premium insights from industry experts
10.3.Related reports
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