South Africa Long-term Care Market Size & Outlook
South Africa long-term care market, 2018-2030 (US$M)
Related Markets
South Africa long-term care market highlights
- The South Africa long-term care market generated a revenue of USD 6,470.8 million in 2023 and is expected to reach USD 11,613.5 million by 2030.
- The South Africa market is expected to grow at a CAGR of 8.7% 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 6,470.8 million |
| Market revenue in 2030 | USD 11,613.5 million |
| Growth rate | 8.7% (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, South Africa accounted for 0.6% 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 Middle East & Africa, Saudi Arabia long-term care market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 11,613.5 million by 2030.
Home healthcare was the largest segment with a revenue share of 30.88% in 2023. Horizon Databook has segmented the South Africa 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 South Africa, with primary healthcare being insufficient, LTC is highly underdeveloped. Rise in life expectancy, along with developing healthcare facilities, has resulted in an elevated proportion of elderly people in the country. Approximately 8.5% of the total population, i.e., about 4.54 million people, is aged 60 years or over.
Migration for work has resulted in the reduction of extended family culture in the country. Poor economic conditions have led to situations wherein elderly, in most cases, are the only bread-earners of the family and are often held hostages for their pension money.
The government does not offer any form of long-term insurance, and only a few private insurance companies offer coverage at a high premium. Home care and hospices are nearly nonexistent in the country. There are reforms focused on providing care services to elderly. However, these reforms have not been implemented yet.
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Long-Term Care Market Scope
Long-Term Care Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Africa long term care market size, by service, 2018-2030 (US$M)
South Africa Long-Term Care Market Outlook Share, 2023 & 2030 (US$M)
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