LONG TERM CARE MARKET ANALYSIS

Regional Analysis

Global Long Term Care Market: Regional Insights

Based on geography, the global long term care market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market during the forecast period due to the increasing prevalence of chronic disease, growing prevalence of target diseases, growing geriatric population, and rise in demand for long term care. For instance, according to the U.S. Department of Health and Human Services (HHS), more than 69% of the U.S. population is expected to use long-term care services in their lives for an average of about three years. Demand for long-term care (LTC) has increased due to the recognition of unmet needs of the elderly, which are not met by hospital systems.

Europe and Asia Pacific are also expected to witness significant growth in the global long term care market owing to the rise in burden of chronic disease, increasing prevalence of target diseases, rise in demand for long term care, and growing geriatric population in these regions. For instance, the demand for long-term care has increased due to the recognition of unmet needs of the elderly, which are not met by hospital systems. India’s elderly population (aged 60 and above) is projected to touch 194 million in 2031 from 138 million in 2021, a 41% increase over a decade, according to the National Statistical Office (NSO)’s Elderly in India 2021 report.