Australia Long-term Care Market Size & Outlook, 2023-2030
Australia long-term care market, 2018-2030 (US$M)
Related Markets
Australia long-term care market highlights
- The Australia long-term care market generated a revenue of USD 34,046.3 million in 2023 and is expected to reach USD 56,025.8 million by 2030.
- The Australia market is expected to grow at a CAGR of 7.4% from 2024 to 2030.
- In terms of segment, home healthcare was the largest revenue generating service in 2023.
- Hospice is the most lucrative service segment registering the fastest growth during the forecast period.
Long-term care market data book summary
| Market revenue in 2023 | USD 34,046.3 million |
| Market revenue in 2030 | USD 56,025.8 million |
| Growth rate | 7.4% (CAGR from 2023 to 2030) |
| Largest segment | Home healthcare |
| Fastest growing segment | Hospice |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Home Healthcare, Hospice, Nursing Care, Assisted Living Facilities |
| Key market players worldwide | Brookdale Senior Living Inc, Knight Therapeutics Inc, Life Healthcare Group Holdings Ltd, Sunrise Medical, Extendicare Inc, Sonida Senior Living Inc, Genesis Healthcare Inc Class A, Amedisys Inc, Home Instead, Diversicare Healthcare Services, Atria Senior Living |
Other key industry trends
- In terms of revenue, Australia accounted for 3.1% of the global long-term care market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, India long-term care market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 25,329.5 million by 2030.
Home healthcare was the largest segment with a revenue share of 31.97% in 2023. Horizon Databook has segmented the Australia 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.
In Australia, long-term care is referred to as aged care. Institutional long-term care is provided in Australia to almost 20% of the population aged 80 years and above. In 2019, the proportion of personal caregivers and nurses, in the long-term care industry, for the geriatric population aged 65 years and above was 6.2%, above the average among OECD countries.
The Aged Care and Quality and Safety Commission looks to protect and enhance the quality of life, wellbeing, health, and safety of aged care consumers. Considering the challenges in delivering care in remote and rural areas, flexible aged care programs are designed to provide additional support to older people.
Moreover, the presence of a helpline number in each territory and state to report elder abuse provides a sense of security to consumers. However, the expenditure from GDP on long-term care in Australia is lower than other OECD nations.
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Long-Term Care Market Scope
Long-Term Care Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia long term care market size, by service, 2018-2030 (US$M)
Australia Long-Term Care Market Outlook Share, 2023 & 2030 (US$M)
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