GLOBAL SKILLED NURSING FACILITY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The skilled nursing facility market faces several challenges. With an aging population, the demand for long-term care is rising just as Medicaid reimbursement rates have declined, squeezing operating margins. Many facilities struggle to attract and retain quality nurses and other staff due to low pay and stressful working conditions. An increased emphasis on home-based and community-based care also poses a threat as some patients choose alternatives to institutional long-term care. Facility operators must find ways to cut costs and operate more efficiently to adapt to stringent reimbursement environments.

Market Opportunities: Growing telehealth and remote patient monitoring

Telehealth and remote patient monitoring presents a major opportunity for the skilled nursing facility market in the coming years. With an aging population and growing rates of chronic conditions like diabetes, Chronic Obstructive Pulmonary Disease, and heart disease, more elderly patients are opting for long-term care in nursing facilities. This is putting pressure on existing infrastructure and medical staff resources. Telehealth can help address this in a cost-effective manner. Remote monitoring technologies allow caregivers to keep a close watch on patients' vital signs and health metrics from any location. Wearable devices can transmit data like heart rate, oxygen levels, weight fluctuations, etc. to the nursing staff continuously.