Global Long-term Care Market Size & Outlook

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.