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Private Nursing Services Market Report

RA00095

Private Nursing Services Market by Service type (Retirement Communities, Group Care Homes, Nursing Care Facilities, Home Health Care Providers), By End use (Male nursing care, Female nursing care), Regional Outlook (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026

RA00095

Pages: 170

Feb 2020

COVID-19

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Impact of covid-19 on Private Nursing Services Market

Global Private Nursing Services Market Insights 2026:

The private nursing service market size was $834.2 billion in 2018 and is predicted to grow by generating a revenue of $1,299.8 billion by 2026. Asia-Pacific is predicted to grow at a CAGR of 6.3%, and will generate a revenue of $300.2 billion by 2026.

Private nursing services are the services offered by nurses who are licensed as registered nurses (RN) or Licensed practical nurses (LPN). These services are provided by professionals for individual care of the patients. These services are offered to the patients as per the requirement of the client depending on whether it is the client’s house or a medical institution like nursing homes, hospital or others; these services are offered to clients who have a serious disease or suffer from serious injuries or need help in taking care of elderly or children.

Rising chronic diseases and change in the social life is predicted to drive the private nursing services market

In the past few years it has been seen that there is an increase in the occurrences of chronic diseases, and these diseases require long term treatment. Managing and treating chronic diseases have become a big concern. Professionals in nursing can take better care of patient proving special attention, and this is expected to be the key driver for the private nursing services. Shift in the social life had played a crucial rule to the rise in the private nursing services market. Due to split of joint families to nuclear families, the family groups are divided into smaller units, and it becomes difficult to provide care to the dependent member in the family. This is expected to increase the demand for private nursing services.

Lack of Skilled labors and service unavailability in rural area is projected to the biggest threat for the private nursing services market growth

The unavailability of services in rural areas and the availability of unskilled professionals are the biggest restraints. Rural residents frequently face multiple obstacles in healthcare services which creates a barrier for them to obtain the necessary care. Multiple reasons like the fees for private nursing services, means to reach and use the services, like commute, restrain the growth of this market. Unavailability of skilled professionals due to lack of education, right skills and right working professionals with experience are the major restraints for the growth of the private nursing services market.

Private Nursing Services Market, by Service type:

Retirement communities segment is projected to be most lucrative by 2026.
Private Nursing Services Market, by Service type	 

Source: Research Dive Analysis

Retirement communities are considered to have the highest growth rate. The retirement communities’ market was $208.6 billion in 2018 and is projected to generate a revenue of $353.5 billion by 2026. Due to the adoption of nuclear families, the number of people staying at home is reduced which results to the decrease in providing sufficient care to the elderly people in the house. Earlier people use to stay in joint families and due to the presence of many family members the old and retired person’s care was taken by other family members in the house. Due to this change in the social trend and emergence of nuclear families, the manpower in families has reduced. This has given a rise to hiring professionals for healthcare, giving a boost to the retirement communities in the service type segment. 

Private Nursing Services Market, by Application:

Female nursing care is predicted to dominate the segment
Private Nursing Services Market, by Application	 

Source: Research Dive Analysis

The female nursing care segment holds 61.0% of dominating market share in the end use segment. The female nursing care end use segment was $508.9 billion in 2018 and is predicted to generate a revenue of $773.4 billion by 2026. The nursing care market is dominated by the female segment. Female nurses are more sensitive than male nurses and treat the patients with more care; even the patients prefer female nurses over the male nurses for their private nursing. As the dominance of female nursing remains, female nursing care segment is predicted to boost the private nursing services market.

Private Nursing Services Market, by Region 

Private Nursing Services Market, by Region

Source: Research Dive Analysis

North America Private Nursing Services Market Overview 2026: North America possesses better opportunity for the investors in the forecast period

North America accounted for the highest market share across the globe, which was 38% in 2018. North America region for private nursing services market size was $317.0 billion in 2018 and is predicted to grow at a CAGR of 5.4% in the forecast period. The rise in the geriatric population and the number of hospitals and higher per capita income of the people in the North America region are expected to drive the private nursing service market. 

Asia-Pacific Private Nursing Services Market Outlook 2026:

Asia-Pacific is accounted to have the highest growth rate across the globe. Asia-Pacific is predicted to grow at a CAGR of 6.3% by generating a revenue of $300.2 billion by 2026. The market in this region is going experience a growth due to the increasing aging population, change in the family structure and rise in the per capita income.

Request to download executive summary of, How Europe Region is contributing to the global market of Private Nursing Services Market:

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Key participants in Private nursing services:

The major key players in private nursing care services market are The Ensign Group, Inc., Kindred Healthcare, LLC, Genesis Healthcare, Brookdale Senior Living, Kaiser Permanente, CBI Health Group Inc., Trinity Health, Columbia Asia, Apollo Hospitals Enterprise Ltd. and Grand World Elder Care among others.

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2018

  Forecast timeline for Market Projection

  2019-2026

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Service Type

  • Retirement Communities
  • Group Care Homes
  • Nursing Care Facilities
  • Home Health Care Providers

  Segmentation by End use

  • Male Nursing Care
  • Female Nursing Care

  Key Countries Covered

U.S., Canada, Germany, France, UK, Italy, Japan, China, India, South Korea, Australia, Middle west, Africa

  Key Companies Profiled

  • The ensign group, Inc.
  • Kindred healthcare, LLC
  • Genesis healthcare
  • Brookdale senior living
  • Kaiser Permanente
  • CBI health group Inc.
  • Trinity health
  • Columbia Asia
  • Apollo Hospitals Enterprise Ltd.,
  • Grand world elder care

Source: Research Dive Analysis


FREQUENTLY ASKED QUESTIONS?
 

A. The global Private nursing services size was over $834.2 billion in 2018 and is further anticipated to reach $1,299.8 billion by 2026.

A. CBI Health Group Inc., Genesis Healthcare Industries and Columbia Asia are some of the key players in the global Private nursing services.

A. North America possess great investment opportunities for the investors to witness the most promising growth in the coming years.

A. North America Private nursing services is projected to grow at 5.4% CAGR during the forecast period.

A. Customer satisfaction and business expansion are the key strategies opted by the operating companies in this market.

A. CBI health group Inc., and Apollo hospital are the companies investing more on R&D activities for developing new products and technologies.

1. Research Methodology

1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters

1.4.1. Assumptions
1.4.2. Forecast parameters

1.5. Data sources

1.5.1. Primary
1.5.2. Secondary

2. Executive Summary

2.1. 360° summary
2.2. Service type trends
2.3. End use trends

3. Market Overview

3.1. Market segmentation & definitions
3.2. Key takeaways

3.2.1. Top investment pockets
3.2.2. Top winning strategies

3.3. Porter’s five forces analysis

3.3.1. Bargaining power of consumers
3.3.2. Bargaining power of suppliers
3.3.3. Threat of new entrants
3.3.4. Threat of substitutes
3.3.5. Competitive rivalry in the market

3.4. Market dynamics

3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities

3.5. Technology landscape
3.6. Regulatory landscape
3.7. Patent landscape
3.8. Strategic overview

4. Private Nursing Services, by Service Type

4.1. Retirement Communities

4.1.1. Market size and forecast, by region, 2017-2028
4.1.2. Comparative market share analysis, 2018 & 2028

4.2. Group Care Homes

4.2.1. Market size and forecast, by region, 2017-2028
4.2.2. Comparative market share analysis, 2018 & 2028

4.3. Nursing Care Facilities

4.3.1. Market size and forecast, by region, 2017-2028
4.3.2. Comparative market share analysis, 2018 & 2028

4.4. Home Health Care Providers

4.4.1. Market size and forecast, by region, 2017-2028
4.4.2. Comparative market share analysis, 2018 & 2028

5. Private Nursing Services, by End use

5.1. Male Nursing Care

5.1.1. Market size and forecast, by region, 2017-2028
5.1.2. Comparative market share analysis, 2018 & 2028

5.2. Female Nursing Care

5.2.1. Market size and forecast, by region, 2017-2028
5.2.2. Comparative market share analysis, 2018 & 2028

6. Private Nursing Services, by Region

6.1. North Region

6.1.1. Market size and forecast, by service type, 2017-2028
6.1.2. Market size and forecast, by end-use, 2017-2028
6.1.3. Market size and forecast, by country, 2017-2028
6.1.4. Comparative market share analysis, 2018 & 2028
6.1.5. U.S

6.1.5.1. Market size and forecast, by service type, 2017-2028
6.1.5.2. Market size and forecast, by end-use, 2017-2028
6.1.5.3. Comparative market share analysis, 2018 & 2028

6.1.6. Canada

6.1.6.1. Market size and forecast, by service type, 2017-2028
6.1.6.2. Market size and forecast, by end-use, 2017-2028
6.1.6.3. Comparative market share analysis, 2018 & 2028

6.2. Europe

6.2.1. Market size and forecast, by service type, 2017-2028
6.2.2. Market size and forecast, by end-use, 2017-2028
6.2.3. Market size and forecast, by country, 2017-2028
6.2.4. Comparative market share analysis, 2018 & 2028

6.2.5. UK

6.2.5.1. Market size and forecast, by service type, 2017-2028
6.2.5.2. Market size and forecast, by end-use, 2017-2028
6.2.5.3. Comparative market share analysis, 2018 & 2028

6.2.6. Germany

6.2.6.1. Market size and forecast, by service type, 2017-2028
6.2.6.2. Market size and forecast, by end-use, 2017-2028
6.2.6.3. Comparative market share analysis, 2018 & 2028

6.2.7. France

6.2.7.1. Market size and forecast, by service type, 2017-2028
6.2.7.2. Market size and forecast, by end-use, 2017-2028
6.2.7.3. Comparative market share analysis, 2018 & 2028

6.2.8. Italy

6.2.8.1. Market size and forecast, by service type, 2017-2028
6.2.8.2. Market size and forecast, by end-use, 2017-2028
6.2.8.3. Comparative market share analysis, 2018 & 2028

6.2.9. Rest of Europe

6.2.9.1. Market size and forecast, by service type, 2017-2028
6.2.9.2. Market size and forecast, by end-use, 2017-2028
6.2.9.3. Comparative market share analysis, 2018 & 2028

6.3. Asia-Pacific

6.3.1. Market size and forecast, by service type, 2017-2028
6.3.2. Market size and forecast, by end-use, 2017-2028
6.3.3. Market size and forecast, by country, 2017-2028
6.3.4. Comparative market share analysis, 2018 & 2028
6.3.5. China

6.3.5.1. Market size and forecast, by service type, 2017-2028
6.3.5.2. Market size and forecast, by end-use, 2017-2028
6.3.5.3. Comparative market share analysis, 2018 & 2028

6.3.6. India

6.3.6.1. Market size and forecast, by service type, 2017-2028
6.3.6.2. Market size and forecast, by end-use, 2017-2028
6.3.6.3. Comparative market share analysis, 2018 & 2028

6.3.7. Japan

6.3.7.1. Market size and forecast, by service type, 2017-2028
6.3.7.2. Market size and forecast, by end-use, 2017-2028
6.3.7.3. Comparative market share analysis, 2018 & 2028

6.3.8. South Korea

6.3.8.1. Market size and forecast, by service type, 2017-2028
6.3.8.2. Market size and forecast, by end-use, 2017-2028
6.3.8.3. Comparative market share analysis, 2018 & 2028

6.3.9. Australia

6.3.9.1. Market size and forecast, by service type, 2017-2028
6.3.9.2. Market size and forecast, by end-use, 2017-2028
6.3.9.3. Comparative market share analysis, 2018 & 2028

6.3.10. Rest of Asia Pacific

6.3.10.1. Market size and forecast, by service type, 2017-2028
6.3.10.2. Market size and forecast, by end-use, 2017-2028
6.3.10.3. Comparative market share analysis, 2018 & 2028

6.4. LAMEA

6.4.1. Market size and forecast, by service type, 2017-2028
6.4.2. Market size and forecast, by end-use, 2017-2028
6.4.3. Market size and forecast, by country, 2017-2028
6.4.4. Comparative market share analysis, 2018 & 2028
6.4.5. Middle East

6.4.5.1. Market size and forecast, by service type, 2017-2028
6.4.5.2. Market size and forecast, by end-use, 2017-2028
6.4.5.3. Comparative market share analysis, 2018 & 2028

6.4.6. Africa

6.4.6.1. Market size and forecast, by service type, 2017-2028
6.4.6.2. Market size and forecast, by end-use, 2017-2028
6.4.6.3. Comparative market share analysis, 2018 & 2028

7. Company Profiles

7.1. The ensign group, Inc

7.1.1. Business overview
7.1.2. Financial performance
7.1.3. Product portfolio
7.1.4. Recent strategic moves & developments
7.1.5. SWOT analysis

7.2. Kindred healthcare

7.2.1. Business overview
7.2.2. Financial performance
7.2.3. Product portfolio
7.2.4. Recent strategic moves & developments
7.2.5. SWOT analysis

7.3. Genesis healthcare

7.3.1. Business overview
7.3.2. Financial performance
7.3.3. Product portfolio
7.3.4. Recent strategic moves & developments
7.3.5. SWOT analysis

7.4. Brookdale senior living

7.4.1. Business overview
7.4.2. Financial performance
7.4.3. Product portfolio
7.4.4. Recent strategic moves & developments
7.4.5. SWOT analysis

7.5. Kaiser Permanente

7.5.1. Business overview
7.5.2. Financial performance
7.5.3. Product portfolio
7.5.4. Recent strategic moves & developments
7.5.5. SWOT analysis

7.6. CBI health group Inc.

7.6.1. Business overview
7.6.2. Financial performance
7.6.3. Product portfolio
7.6.4. Recent strategic moves & developments
7.6.5. SWOT analysis

7.7. Trinity health

7.7.1. Business overview
7.7.2. Financial performance
7.7.3. Product portfolio
7.7.4. Recent strategic moves & developments
7.7.5. SWOT analysis

7.8. Columbia Asia

7.8.1. Business overview
7.8.2. Financial performance
7.8.3. Product portfolio
7.8.4. Recent strategic moves & developments
7.8.5. SWOT analysis

7.9. Apollo hospital

7.9.1. Business overview
7.9.2. Financial performance
7.9.3. Product portfolio
7.9.4. Recent strategic moves & developments
7.9.5. SWOT analysis

7.10. Grand world elder care

7.10.1. Business overview
7.10.2. Financial performance
7.10.3. Product portfolio
7.10.4. Recent strategic moves & developments
7.10.5. SWOT analysis

Professional health care includes patients with severe disease leading to a critical stage of disability or suffering serious injury. Personal nursing facilities are healthcare programs that are provided at any pharmacy or home health provider for individuals that need ongoing and independent treatment. Private nursing is commonly referred to by individual patients as the work of nurses to provide healthcare services to individuals. Such nurses are charged according to fixed rates for those facilities. Actually, these people are hired for a specific period of sickness, so they take care of one individual at a time.

Highly individualized care is provided for the benefit of families in the case of private health facilities, as well as consumer wants and could compensate for those programs. Many institutes such as accredited home health organizations provide only part-time facilities that are not appropriate for people with severe diseases such as cancer and those suffering from serious injury. Private nursing facilities are appropriate for Medicaid recipients because they need treatment and rehabilitation assistance outside the control of any home health provider. The idea of home care is one that is rooted in basic human needs such as familiar surroundings, freedom, (Øvretveit,2003) and person-care companionship.

Market Drivers:

Personal care facilities are a cost-effective means of providing patients in a peaceful environment with skilled professional staff. This included skilled and dedicated staff who are enthusiastic enough to provide the patients with the necessary service. Changes in social behavior such as separating joint family into nuclear families and growing female participation in work increased demand for home health care and home nursing care. The division of the conventional large family families into small family divisions reduced the number of individuals who could provide for dependent family members. The same was due to the increase in the rate of participation of women in the labor market. Both developments culminated in a lack of voluntary providers for the elderly and disabled, and increased demand for home care and skilled nursing.

Market Restraints:

The main constraints on the nursing sector include: the shortage of skilled human resources–a scarcity of trained doctors, specialists, nurses and caregivers in both developed and developing countries is projected to hinder the nursing care industry. Developing countries are experiencing a significant shortage of health care professionals as demand for nursing is growing. According to the World Health Organization (WHO), the global healthcare workforce, which included nurses and community healthcare workers, had a shortfall of about 4.3 million employees as of 2018. Developed nations are facing a similar situation, too. The US currently faces a shortage of doctors, especially primary care doctors, according to ResearchDive's study. The world has only 2.5 doctors per 1000 population according to the World Bank. This is partly due to the lack of appropriate qualifications among the applicants, and lack of education and the right work experience. The lack of health care workers is likely to continue to serve as a restraint on the nursing market in the future.

Segments

The demand for nursing care is segmented into service type, end-user class, and geography.

By Service Type 

The demand for nursing care can be segmented into

  • Retirement Communities
  • Group Care Homes 
  • Nursing Care Facilities
  • Home Health Care Providers 

Over the historic era, retirement communities had the highest growth rate of almost 8%. The highest increase in the historic period can be attributable to shifts in aged people's lifestyles and active career-oriented demographic behaviors that reduced the number of family members staying at home and providing care to elderly people, which ultimately had a positive influence on the appearance of retirement communities.

By end-user 

The nursing industry can be segmented into

  • Male Nursing Care
  • Female Nursing Care

Growth has increased by the end-user demographic in both sectors of the global nursing care industry.

By geography

The healthcare industry for private nursing is spread across countries such as U.S., Canada, Germany, France, UK, Italy, Japan, China, India, South Korea, Australia, Middle west, Africa

Regional

North America is the biggest healthcare industry for the private nursing sector, comprising about 40% of the global market. Western Europe, Asia-Pacific and then the other continents followed. The Middle East and Asia-Pacific will continue to be the fastest-growing areas in this market. North America market stood at $317.0 billion in 2018 and is expected to rise in the forecast period at a CAGR of 5.4%. The country of North America expected to grow due to the increase in the geriatric population, as well as providing the greater number of hospitals and higher per capita income of the people in this region is expected to drive the private nursing care industry. It is projected that Asia-Pacific has the highest growth rate on earth. Asia-Pacific is expected to rise by 6.3 % at a CAGR by producing $300.2 billion in revenue by 2026.

Key participants in Private nursing services:

The major key players in the private nursing services are The Ensign Group, Inc., Kindred Healthcare, LLC, Genesis Healthcare, Brookdale Senior Living, Kaiser Permanente, CBI Health Group Inc., Trinity Health, Columbia Asia, Apollo Hospitals Enterprise Ltd., and Grand World Elder Care among others. 

Key Strategies 

IoT Driving Home Healthcare Market

IoT (Internet of Things) systems are introduced by many home healthcare providers to control and manage the health of chronically ill and geriatric patients. The program integrates drug dispensers, biosensors, and self-care glucose meters for remote monitoring of patients, clinical care management, and medication management related. Such technology allows home care services to monitor the safety of patients and home care professionals to control their wellbeing from remote areas without a formal doctor appointment.

Care providers Choose personalization.

The adoption of custom-care packages in the recent past has improved. The design products offer a high degree of operation versatility. The home health and skilled nursing facilities companies provide a wide range of custom-care packages. Shopping support, food or medication pickup at the home, and extensive patient supervision are the custom-care services offered by nursing care facilities. Such personalized programs increase the potential for the nursing care market.
 

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