THE U.S. NURSING CARE MARKET IS EXPECTED TO REACH USD 692.19 BILLION BY 2029 FROM USD 475.15 BILLION IN 2023, GROWING AT A CAGR OF 6.47% DURING THE FORECAST PERIOD.

The U.S. Nursing Care Market Size, Share, & Trends Analysis Report by

  • Service Type: Skilled Nursing, Home Healthcare, Assisted Living, and Others
  • Payment: Public Expenditure and Private Expenditure
  • Gender: Female and Male
  • Region: United States (South, Mid-West, Northeast, and West)

Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast 2024–2029.

Licence Types What are these?
GET ACTIONABLE INSIGHTS ON HOW COVID-19 IS IMPACTING YOUR BUSINESS
Enquire Now Download Free Sample

Most Exhaustive Report

icon-pages

85 Pages

icon-table

04 Tables

icon-chart

13 Charts

icon-region

4 Regions

icon-country

1 Countries

icon-company

38 Companies

icon-market

4 Market Segment

U.S. NURSING CARE MARKET REPORT SCOPE

Report Attribute Details
Market Size (2029) USD 692.19 Billion
Market Size (2023) USD 475.15 Billion
CAGR (2023-2029) 6.47%
Base Year 2023
Forecast Year 2024-2029
Market Segments Service Type, Payment, Gender, and Region
Regional Analysis United States (South, Mid-West, Northeast, and West)

INDUSTRY OVERVIEW

The U.S. nursing care market was valued at USD 475.15 billion in 2023 and is expected to reach USD 692.19 billion by 2029, growing at a CAGR of 6.47%. The growing burden of various chronic diseases requires effective monitoring and care by healthcare professionals. Utilizing nursing care services improves patient outcomes, nurse & physician satisfaction, and patient satisfaction and community health. The U.S. nursing care market growth is on the rise due to multiple factors, including the rising baby boomers, the aging population, the increased healthcare expenditure, and the increased preference for independent living.

MARKET TRENDS AND OPPORTUNITIES

Adoption of Telehealth Services
Telehealth makes it easier for many people to receive the care they need, even living far from healthcare facilities. As such, nurses must be prepared to interpret data to assess patient needs, evaluate patients’ responses to treatment, and provide education about diagnoses and treatment plans. This requires a good understanding of remote technologies and the ability to provide care in virtual environments. Patients and providers have taken advantage of this to maintain relationships and care plans throughout the pandemic, and there’s no sign of that stopping. Several regulations increased the flexibility of Medicare reimbursement for telehealth visits, causing experts to estimate the evolution of telehealth may increase rapidly in 2023.

Rising Healthcare Collaborations
Various initiatives public and private institutions take to cope with the nursing shortage and increase the number of nursing professionals may drive the U.S. nursing care market over the forecast period. For instance, in November 2022, Chamberlain University, the nation's biggest nursing school, announced starting a home health specialty effort with funds from the American Nurses Foundation's Reimagining Nursing Initiative. Further, online nursing programs allow students to complete coursework and clinical requirements from the comfort of their own homes, making it easier for working professionals and others with busy schedules to earn a degree in nursing.

SEGMENTATION INSIGHTS

INSIGHTS BY SERVICE TYPE
The U.S. nursing care market by service type is segmented into skilled nursing, home healthcare, assisted living, and others. The skilled nursing segment held the most prominent share of the U.S. market in 2023. The segmental growth is due to the rise in the geriatric population, coupled with increasing chronic diseases and age-associated diseases creating new healthcare opportunities. The skilled nursing facilities vary from state to state; some states have over 1000 SNFs, others have fewer than 30, and the overall average of SNFs per state is 367. Also, it is observed that when compared to hospitals, skilled nursing facilities (SNFs) offer high-quality care services at a much lower cost, creating enormous demand among investors. Furthermore, hospital-based SNFs provide good quality care and better discharge outcomes owing to specialization and joint production. Joint production has the benefit of better communication among nursing home staff and hospitals through the health IT system.

INSIGHTS BY PAYMENT
The public expenditure payment segment dominated the U.S. nursing care market in 2023. Depending on the circumstances, Medicare provides reimbursement for home health services such as intermittent skilled nursing care, care provided by a home health aide, and therapy under either Part A or Part B. Furthermore, it is important for seniors and their families facing an imminent need for a nursing home to determine whether Medicare will cover at least a portion of the stay. It is observed that the Medicare program provides coverage for rehabilitation, but it does not cover long-term care. Also, it is observed that the State-based Long-Term Care Partnership Programs can help protect the assets of individuals using Medicaid coverage to pay for long-term care services.

INSIGHTS BY GENDER
The U.S. nursing care market by gender is segmented into female and male. The female segment held the most significant of the market in 2023. The rising aging population of women in the U.S. is one of the major factors that positively influenced women's preference for assisted living facilities. Further, even in their advanced years, women remain active but require assistance for their day-to-day tasks, and women outnumber men in experiencing brain-related illnesses associated with aging, such as dementia. Without specialized care, these conditions can significantly harm senior's well-being. Also, women tend to use healthcare services more frequently and proactively seek medical attention, potentially leading to earlier consideration of assisted living when the need arises.

REGIONAL ANALYSIS

The South region accounted for the largest U.S. nursing care market share, accounting for over 36% in 2023. In the Southern region, Florida has many nursing care facilities, which are approximately 800. Florida is home to the most aging population states in the U.S., accounting for 3,926,889 seniors aged 65 and above. This age group has better purchase power in the market, driving them to choose better-facilitated nursing homes. When considering retirement in the Southern U.S., St. Petersburg has remained a cherished choice for seniors over the years, owing to its status as a traditional retirement destination. Further, Florida and South Carolina are also the most popular retirement states. Also, the cost of living is reasonably low compared to other regions, and it is considered a moderately taxed region, making it even more opportunistic for seniors to retire.

VENDOR LANDSCAPE

The U.S. nursing care market has key market players that account for the major industry shares. Due to their high geographical presence, availability of expertise, and well-known brand image, they have a better market share in the region. Further, the number of mergers and acquisitions is high in the market. For instance, Ensign Group acquired 223 facilities in 10 years from 2012-2022 and added 18,443 operational beds and 5,000 senior living units to its subsidiaries. Most of the company's revenue is generated from skilled nursing. In addition, the vendors in the U.S. nursing care market are producing better innovative plans like luxury accommodations, customized living facilities, and more to attract customers.

Frequently Asked Questions

How big is the U.S. nursing care market?

The U.S. nursing care market size was valued at USD 475.15 billion in 2023 and is expected to reach USD 692.19 billion by 2029.

What is the projected growth rate of the U.S. nursing care market?

The U.S. nursing care market is projected to grow at a CAGR of 6.47% during the forecast period.

Which region holds the most significant U.S. nursing care market share?

The South region dominated the U.S. nursing care market share, accounting for over 36% in 2023.

What are the rising trends in the U.S. nursing care market?

The rising trends in the U.S. nursing care industry are the transition of patient care to more cost-effective options, a shift towards home health nursing, and the adoption of telehealth services.

Which service type segment dominated the U.S. nursing care market?

The skilled nursing service segment dominated the U.S. nursing care market in 2023 and is projected to witness an incremental growth of USD 95.32 billion during the forecast period.

Download Free Sample

The U.S. nursing care market size is expected to grow at a CAGR of approximately 6.47% from 2023 to 2029.

The following factors are likely to contribute to the growth of the U.S. nursing care market during the forecast period:

  • Increasing Aging Population
  • Rising Healthcare Collaborations
  • Increasing Support From The Government

Base Year: 2023

Forecast Year: 2024-2029

The report considers the present U.S. nursing care market scenario and its market dynamics for 2024−2029. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes leading companies and several other prominent companies operating in the market.

Company Profiles

  • Fair Acres
    • Business Overview
    • Product Offerings
  • RiverSpring Living
  • The Plaza Rehab & Nursing Center
  • NYC Health + Hospitals
  • Laguna Honda
  • Kings Harbor Multicare Center
  • Brookdale Senior Living
  • ProMedica Senior Care
  • Consulate Health Care
  • Ensign Group
  • Genesis Healthcare
  • Life Care Centers of America
  • Humana
  • Enlivant
  • Bayada Home Health Center
  • National Church Residencies
  • Sunrise Senior Living
  • Sonida Senior Living
  • Five Star Senior Living
  • BrightSpring Health Services
  • Fresenius Medical Care
  • Amedisys
  • Eddy Senior Living
  • Embassy Healthcare Services
  • Erickson Senior Living
  • Frontier Senior Living
  • Gardant Management Solutions
  • Bickford Senior Living
  • VNS Health
  • Valeo
  • Pacifica Senior Living
  • Life Care Services
  • MBK Senior Living
  • Hanceville Nursing and Rehab Center
  • Park Avenue Health & Rehabilitation Center
  • Ararat Home of Los Angeles
  • Colorado State Veterans Home
  • A.G. Rhodes

Segmentation by Service Type

  • Skilled Nursing
  • Home Healthcare
  • Assisted Living
  • Others

Segmentation by Payment

  • Public Expenditure
  • Private Expenditure

Segmentation by Gender

  • Female
  • Male

Segmentation by Region

  • United States
    • South
    • Mid-West
    • Northeast
    • West

CHAPTER – 1: Nursing Care Market Overview
• Executive Summary
• Key Findings

CHAPTER – 2: Nursing Care Market
• US: Projected Revenue of Nursing Care Market (2023-2029; $Billions)

CHAPTER – 3: Nursing Care Market Segmentation Data
• US: Projected Revenue by Service (2023-2029; $Billions)
• Skilled Nursing
• Home Healthcare
• Assisted Living
• Others
• US: Projected Revenue by Payment (2023-2029; $Billions)
• Public Expenditure
• Private Expenditure
• US: Projected Revenue by Gender (2023-2029; $Billions)
• Female
• Male
• US: Projected Revenue by Geography (2023-2029; $Billions)
• South Region
• Mid-West Region
• North-East Region
• West Region

CHAPTER – 4: Nursing Care Market Prospects & Opportunities
• Nursing Care Market Opportunities & Trends
• Nursing Care Market Drivers
• Nursing Care Market Constraints

CHAPTER – 5: Nursing Care Industry Overview
• Nursing Care Market - Competitive Landscape
• Nursing Care Market – Key Vendor Profiles
• Nursing Care Market - Other Prominent Vendors
• Nursing Care Market - Key Strategic Recommendations

CHAPTER – 6: Appendix
• Research Methodology
• Abbreviations
• About Arizton

Exhibit 1: Projected Revenue of the Nursing Care Market in the US (2023-2029)
Exhibit 2: Market Size & Forecast – Skilled Nursing (2023-2029)
Exhibit 3: Market Size & Forecast – Home Healthcare (2023-2029)
Exhibit 4: Market Size & Forecast – Assisted Living (2023-2029)
Exhibit 5: Market Size & Forecast – Others (2023-2029)
Exhibit 6: Market Size & Forecast – Public Expenditure (2023-2029)
Exhibit 7: Market Size & Forecast – Private Expenditure (2023-2029)
Exhibit 8: Market Size & Forecast – Female (2023-2029)
Exhibit 9: Market Size & Forecast – Male (2023-2029)
Exhibit 10: Market Size & Forecast – South (2023-2029)
Exhibit 11: Market Size & Forecast – Mid-West (2023-2029)
Exhibit 12: Market Size & Forecast – North-East (2023-2029)
Exhibit 13: Market Size & Forecast – West (2023-2029)

LIST OF TABLES

Table 1: Key Market Trends in the Nursing Care Market
Table 2: Key Market Enablers in Nursing Care Market
Table 3: Key Market Constraints in Nursing Care Market
Table 4: Strategic Recommendations in Nursing Care Market

Select a license type that suits your business needs

single-user Single User Licence
$1800.00
  • Report accessible by one user only
  • Free 10% or 3 days of customization
  • Free post-sale service assistance
  • Continuous support through email
Best Value Tag
5-user 5 User Licence
$2500.00
  • Report accessible by 5 users within the organization
  • Free 15% or 4.5 days of customization
  • Free post-sale service assistance
  • Continuous support through email and telephone
  • Free analyst hour
  • Free Upgrade: If an updated report published within 180 days of purchase, you will get the revised report free of charge
corporate.png Corporate Licence
$2900.00
  • Free Datasheet worth $1500
  • Report accessible by the entire organization
  • Free 20% or 6 days of customization
  • Free post-sale service assistance
  • Continuous support through email and telephone
  • Direct access to lead analysts
  • Free analyst hour
  • Free Upgrade: If an updated report published within 180 days of purchase, you will get the revised report free of charge
datasheet.png Datasheet Licence
$1500.00
  • Report accessible by 1 user only
  • Free 15% or 32 hours of customization
  • Free post-sale service assistance
  • Direct access to lead analysts

Our Clients

Licence Types What are these?

Interested in data center portfolio for this report?
Click here

Our Clients Speak

erick

"The report by Arizton was spot on. It not only gave us insight into the pro audio market, we used it to raise funds for our company. The data proved (to the VC we pitched to) that the market was large enough for our company to not only survive but also grow."

Erik Young
CEO, Co-founder
Audink Inc., DBA Audios
SPEAK WITH OUR ANALYST

Want to know more about the report or any specific requirement?

Click to Email +1-312-235-2040

Want to Customize the Report?

Click Here

Why Arizton?

  • 100% Customer Satisfaction
  • 24x7 availability – we are always there when you need us
  • 200+ Fortune 500 Companies trust Arizton's report
  • 80% of our reports are exclusive and first in the industry
  • 100% more data and analysis
  • 1000+ reports published till date