Private Nursing Services Market 2021 Development Analysis, Strategic Outlook, Growth Rate and Forecast to 2028

Shibuya-ku, Tokyo, Japan, Japan, Jan 05, 2022, 02:15 /Comserve / -- The private nursing services market size was $834.2 billion in 2018 and is predicted to grow by generating a revenue of $1,299.8 billion by 2026.

The private nursing services market size was $834.2 billion in 2018 and is predicted to grow by generating a revenue of $1,299.8 billion by 2026.

Market Definition:

Private nursing services are the services provided to patients or client by professionals who are licensed by Licensed practical nurses (LPN) or registered nurses (RN). These services are offered to clients facing chronic diseases or serious injuries, and to those who need assistance in taking care of a child or elderly people in the house. These services are often provided by private institutions by charging fees as per the client’s situation. These institutions provide quick access to treatment, give an opportunity to select the professional as per client request and many.

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Market Drivers:

In the past few years it has been noticed that the rate of chronic diseases is increasing rapidly. If the patient is going through a chronic disease, then the patient needs utmost care and professional treatment. Clients can thus hire a professional to keep an eye on the patient all the time. In addition, with the rise in the geriatric population and the social trends, families are adopting the nuclear family culture. Thus, with a decrease in the family members, it becomes a huge task to take care of the aged people residing in the house. So, rising chronic diseases and increase in the geriatric population it is expected to drive the market.

Market Restraints:

The unavailability of the skilled professionals is considered to be the biggest restraint for the private nursing service market. The lack of skilled professional arises due to the lack of education & skill set and people with appropriate work experience in the sector. This is going to have a huge impact on the private nursing service industry.

Private nursing services by Service type:

Depending on the service type, the market is further segmented into retirement communities, nursing care facilities, home healthcare providers and group care homes. The retirement communities hold the largest growth rate in 2018. The retirement communities’ market was $208.6 billion in 2018 and is predicted to grow by generating a revenue of $353.6 billion by 2026 with a CAGR of 6.8%.

Private nursing services by Application:

Based on the end use, the market is segmented into female nursing care and male nursing care. Female nursing care has the highest growth rate. The female nursing care was $508.9 billion in 2018 and is predicted to grow at a CAGR of 5.4% by generating a revenue of $773.4 billion by 2026.

Private nursing services, by Region

Depending on the region the market is further segmented into Asia-Pacific, North America, Europe and LAMEA. The private nursing service market size of North America region was $317.0 billion in 2018 and is predicted to grow at a CAGR of 5.4% in the forecast period. Asia Pacific accounted for the highest growth across the globe in the forecast period. Asia-Pacific is predicted to grow at a CAGR of 6.3% by generating a revenue of $300.2 billion by 2026.

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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.

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