by According to a research report “Skilled Nursing Facility Market (By Facility Type: Hospital and Freestanding; By Ownership: Non-Profit, Profit, and Government; By Services Type: Intensive Rehabilitation Therapy, Low and Medium Rehabilitation, Medically Complex and Others) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 – 2030″ published by Precedence Research.
The xxx market size is projected to hit from USD 338 billion in 2022 to USD 592.10 billion by 2030, growing at a CAGR of 4% every year.
The study provides an analysis of the period 2017-2030, wherein 2021 to 2030 is the forecast period and 2021 is considered as the base year.
The improving access to healthcare facilities, growing geriatric population, rising prevalence of chronic diseases among the global population, and rising healthcare spending of the consumers are the major factors that boosts the growth of the global skilled nursing facility market during the forecast period.
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According to the United Nations, the global geriatric population is expected to reach around 2 billion by 2050. The geriatric people are more prone to various diseases such as Alzheimer’s disease, Parkinson’s disease, cardiovascular diseases, cerebral palsy, and diabetes, which fuels the demand for the skilled nursing facilities across the globe. The favorable government policies and reimbursements regarding the skilled nursing facilities are expected to have a positive impact on the skilled nursing facility market growth.
Table of Contents
Scope of the Skilled Nursing Facility Market
| Report Coverage | Details |
| Market Size | USD 592.1 Billion by 2030 |
| Growth Rate | CAGR of 7.2% from 2021 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Facility Type, Ownership Type, Region |
Market Dynamics
Driver
Growing burden of chronic diseases
The global population is witnessing an increasing prevalence of various chronic diseases such as Alzheimer’s disease, Parkinson’s disease, cardiovascular diseases, cerebral palsy, diabetes, multiple, sclerosis, cancer, and dementia. The world is expected to foresee an alarming rise in the number of geriatric patients, which will significantly boost the growth of the global skilled nursing facility market during the forecast period.
Restraint
High costs associated with the skilled nursing facility
The high costs of acquiring the services of the skilled nursing facility may restrict the demand among the low and middle income consumers. The amount paid to the skilled medical professionals who provides the enhanced nursing services is too high for the low and middle income consumers living in the underdeveloped and developing regions. It is a major factor that may hinder the market growth during the forecast period.
Opportunity
Expansion activities adopted by the market players
The top market players are adopting expansion strategies to generate higher revenues and penetrate into the untapped markets. For instance, in February 2019, Genesis Healthcare and Next Health Capital entered into a real estate partnership involving 15 skilled nursing facilities. This strategy aimed at offering services to the maximum number of patients. This strategy will attract a higher number of consumers in the forthcoming years.
Challenge
Increasing adoption of at home care services
The consumers are now increasingly adopting the rehabilitation services at home owing to the conveniences associated with it. The outbreak of the COVID-19 resulted in a shift in the consumer behavior and the demand for the at-home services increased. This change is expected to sustain in the long term, which is a major challenge for the market players in the skilled nursing facility market.
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Report Highlights
- Based on the facility type, the freestanding segment dominated the market in 2020 because freestanding is the most affordable type of skilled nursing facility as compared to the hospital based skilled nursing facility. Moreover, the rising Medicare payments towards the freestanding skilled nursing facility have significantly contributed towards the growth of this segment. As per the California Hospital Association, the Centers for Medicare & Medicaid Services, an increase of 2.4% in the Medicare payments to the skilled nursing facilities was implemented in 2020.
- Based on the ownership, the profit segment dominated the market in 2020. The increased focus on providing quality services to the consumers, the for-profit skilled nursing facilities spends more on improving the customer experiences that increases the demand for the for-profit skilled nursing facilities across the globe.
Regional Snapshot
North America dominated the global skilled nursing facility market in 2020. The increased prevalence of various chronic diseases and increasing geriatric population coupled with high healthcare expenditure are some of the major factors that drives the skilled nursing facility market in North America. According to the Population Reference Bureau, the number of people aged 65 years and above is expected to reach at 95 million in US by 2060.
There will be an increase of around 82% in the number of geriatric people in US from 2018 to 2060. Furthermore, the regular updates in the CMS policies are favoring the market growth in the region. The growing demand for the skilled nursing facility among the nuclear families to take care of the elder family members is expected to spur the demand.
Asia Pacific is estimated to be the most opportunistic market. The increasing prevalence of chronic diseases and rapidly growing geriatric population coupled with the rising access to healthcare facilities is significantly boosting the market growth. According to the United Nations, about 80% of the old age people are expected to live in low and middle income countries by 2050. The rapid industrialization and infrastructural development in the developing nations like China, India, and South Korea is resulting in increased number of patients. This will boost the demand for the skilled nursing facilities in Asia Pacific region in the foreseeable future.
Some of the prominent players in the global skilled nursing facility market include:
- Lincare, Inc.
- Golden Living
- Emeritus Corporation
- Genesis Healthcare
- Sunrise Senior Living Inc.
- Gentiva Health Services
- Life Care Centers of America
- Brookdale Senior Living
- Extendicare, Inc.
Segments Covered in the Report
By Facility Type
- Freestanding
- Hospital
By Ownership Type
- Non-Profit
- Profit
- Government
By Services Type
- Intensive Rehabilitation Therapy
- Low and Medium Rehabilitation
- Medically Complex
- Others
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Skilled Nursing Facility Market
5.1. COVID-19 Landscape: Skilled Nursing Facility Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Skilled Nursing Facility Market, By Ownership
8.1. Skilled Nursing Facility Market, by Ownership Type, 2021-2030
8.1.1. Non-Profit
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Profit
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Government
8.1.3.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Skilled Nursing Facility Market, By Facility
9.1. Skilled Nursing Facility Market, by Facility, 2021-2030
9.1.1. Freestanding
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Hospital
9.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Skilled Nursing Facility Market, By Services
10.1. Skilled Nursing Facility Market, by Services, 2021-2030
10.1.1. Intensive Rehabilitation Therapy
10.1.1.1. Market Revenue and Forecast (2019-2030)
10.1.2. Low and Medium Rehabilitation
10.1.2.1. Market Revenue and Forecast (2019-2030)
10.1.3. Medically Complex
10.1.3.1. Market Revenue and Forecast (2019-2030)
10.1.4. Others
10.1.4.1. Market Revenue and Forecast (2019-2030)
Chapter 11. Global Skilled Nursing Facility Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.1.2. Market Revenue and Forecast, by Facility (2019-2030)
11.1.3. Market Revenue and Forecast, by Services (2019-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.1.4.2. Market Revenue and Forecast, by Facility (2019-2030)
11.1.4.3. Market Revenue and Forecast, by Services (2019-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.1.5.2. Market Revenue and Forecast, by Facility (2019-2030)
11.1.5.3. Market Revenue and Forecast, by Services (2019-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.2.2. Market Revenue and Forecast, by Facility (2019-2030)
11.2.3. Market Revenue and Forecast, by Services (2019-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.2.4.2. Market Revenue and Forecast, by Facility (2019-2030)
11.2.4.3. Market Revenue and Forecast, by Services (2019-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.2.5.2. Market Revenue and Forecast, by Facility (2019-2030)
11.2.5.3. Market Revenue and Forecast, by Services (2019-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.2.6.2. Market Revenue and Forecast, by Facility (2019-2030)
11.2.6.3. Market Revenue and Forecast, by Services (2019-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.2.7.2. Market Revenue and Forecast, by Facility (2019-2030)
11.2.7.3. Market Revenue and Forecast, by Services (2019-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.3.2. Market Revenue and Forecast, by Facility (2019-2030)
11.3.3. Market Revenue and Forecast, by Services (2019-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.3.4.2. Market Revenue and Forecast, by Facility (2019-2030)
11.3.4.3. Market Revenue and Forecast, by Services (2019-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.3.5.2. Market Revenue and Forecast, by Facility (2019-2030)
11.3.5.3. Market Revenue and Forecast, by Services (2019-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.3.6.2. Market Revenue and Forecast, by Facility (2019-2030)
11.3.6.3. Market Revenue and Forecast, by Services (2019-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.3.7.2. Market Revenue and Forecast, by Facility (2019-2030)
11.3.7.3. Market Revenue and Forecast, by Services (2019-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.4.2. Market Revenue and Forecast, by Facility (2019-2030)
11.4.3. Market Revenue and Forecast, by Services (2019-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.4.4.2. Market Revenue and Forecast, by Facility (2019-2030)
11.4.4.3. Market Revenue and Forecast, by Services (2019-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.4.5.2. Market Revenue and Forecast, by Facility (2019-2030)
11.4.5.3. Market Revenue and Forecast, by Services (2019-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.4.6.2. Market Revenue and Forecast, by Facility (2019-2030)
11.4.6.3. Market Revenue and Forecast, by Services (2019-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.4.7.2. Market Revenue and Forecast, by Facility (2019-2030)
11.4.7.3. Market Revenue and Forecast, by Services (2019-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.5.2. Market Revenue and Forecast, by Facility (2019-2030)
11.5.3. Market Revenue and Forecast, by Services (2019-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.5.4.2. Market Revenue and Forecast, by Facility (2019-2030)
11.5.4.3. Market Revenue and Forecast, by Services (2019-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Ownership (2019-2030)
11.5.5.2. Market Revenue and Forecast, by Facility (2019-2030)
11.5.5.3. Market Revenue and Forecast, by Services (2019-2030)
Chapter 12. Company Profiles
12.1. Lincare, Inc.
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Golden Living
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Emeritus Corporation
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Genesis Healthcare
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Sunrise Senior Living Inc.
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Genesis HealthCare
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Gentiva Health Services
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Life Care Centers of America
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Brookdale Senior Living
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Extendicare, Inc.
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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