Latin America Long-term Care Market Size & Outlook
Latin America long-term care market, 2018-2030 (US$M)
Related Markets
Latin America long-term care market highlights
- The Latin America long-term care market generated a revenue of USD 75,807.5 million in 2023.
- The market is expected to grow at a CAGR of 8.2% from 2024 to 2030.
- In terms of segment, nursing care was the largest revenue generating service in 2023.
- Hospice is the most lucrative service segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 75,807.5 million |
| Market revenue in 2030 | USD 131,431.8 million |
| Growth rate | 8.2% (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 |
| 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, Latin America region accounted for 6.8% of the global long-term care market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 131,431.8 million by 2030.
Nursing care was the largest segment with a revenue share of 30.13% in 2023. Horizon Databook has segmented the Latin America 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.
Latin America is considered to be aging according to the standards defined by WHO. Compared to developed countries that are fighting the problem of insufficient healthcare coverage, countries such as Brazil and Mexico are yet to adopt an LTC system. Most insurance companies in this region are private, and only a fraction of the elderly population is able to afford insurance.
Although the number of nursing home facilities is increasing at a high rate in Mexico, they are mostly occupied by foreigners who are attracted to the cheaper home care facilities in the country. Residents of Mexico prefer staying at home & hiring part-time or full-time assistance rather than going to nursing homes.
As per the report of Inter-American Development Bank (IDB) 2019, approximately 8 million older adults were cared dependent in Latin America, which accounts for the people aged 65 years and above in Latin America and the Caribbean (LAC).
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Long-Term Care Market Scope
Long-Term Care Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America long term care market size, by country, 2018-2030 (US$M)
Latin America Long-Term Care Market Outlook Share, 2023 & 2030 (US$M)
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