Global Long-term Care Market Size & Outlook, 2023-2030
Global long-term care market, 2018-2030 (US$M)
Related Markets
Global long-term care market highlights
- The global long-term care market generated a revenue of USD 1,113,834.4 million in 2023 and is expected to reach USD 1,744,075.9 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 6.6% by 2030.
- In terms of segment, nursing care accounted for a revenue of USD 353,452.5 million in 2023.
- Hospice is the most lucrative service segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, UK is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 1,113,834.4 million |
| Market revenue in 2030 | USD 1,744,075.9 million |
| Growth rate | 6.6% (CAGR from 2023 to 2030) |
| Largest segment | Nursing care |
| Fastest growing segment | Hospice |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Home Healthcare, Hospice, Nursing Care, Assisted Living Facilities |
Other key industry trends
- In terms of revenue, the North America accounted for 48.9% of the global long-term care market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, UK is the fastest growing regional market and is projected to reach USD 50,074.8 million by 2030.
Nursing care was the largest segment with a revenue share of 31.73% in 2023. Horizon Databook has segmented the Global long-term care market based on home healthcare, hospice, nursing care, assisted living facilities covering the revenue growth of each sub-segment from 2018 to 2030.
Increase in population of older individuals is a major concern in many countries across the globe. The last baby boomers generation reached an age span of 52 to 70 years in 2016, which is the largest aged cohort so far. More than 54% of geriatric population is concentrated in only six countries China, the U.S., India, Japan, Germany, and the Russian Federation.
This has increased the pressure on the governments of these countries to provide them with care services, while balancing labor force participation sustaining the economy. Governments of these countries are reforming their healthcare systems to provide the care needed by senior citizens at affordable prices.
The U.S. government supports LTC for elders through Medicare and Medicaid systems. The world population of people above 60 years was approximately 962 million in the year 2017 and is expected to double till the year 2050. These factors are expected to fuel growth of the LTC market over the forecast period.
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Long-Term Care Market Scope
Long-Term Care Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global long term care market size, by region, 2018-2030 (US$M)
Top 10 countries: Long term care market size, 2023 (US$M)
Global long term care market share, by service, 2023 & 2030 (%, US$M)
Long-term care market: Opportunity assessment by country
Global long-term care market, by region, 2023 (US$M)
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