Major companies in the home healthcare and residential nursing services market include UnitedHealth Group Incorporated, Kaiser Permanente, Encompass home health, Orpea, Genesis Healthcare, Brookdale Senior Living, Golden Living, The Ensign Group, Inc, LHC Group and Amedisys Inc.
New York, Feb 11. 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Home Health Care And Residential Nursing Care Services Global Market Report 2022″ – https://www.reportlinker.com/p06229150/?utm_source=GNW
The global home healthcare and residential nursing services market is expected to grow from USD 1004.12 billion in 2021 to USD 1102.28 billion in 2022 at a compound annual growth rate (CAGR) of 9. 8%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $1,517.16 billion in 2026 with a CAGR of 8.3%.
The Home Health Care and Residential Nursing Services market includes sales of Home Health Care and Residential Nursing Services and related goods by entities (organizations, sole proprietorships and partnerships) who provide home health care and residential nursing care, including personal services, counseling services, occupational therapy, nursing home services, social services and nutritional services.
The main types of home health care and residential nursing services are home care providers, retirement communities, nursing homes, orphanages, and group homes. A nursing facility is an inpatient rehabilitation and medical treatment facility staffed by qualified medical personnel. .
The different types of expenditures include public and private expenditures which are used by men and women.
Western Europe was the largest region in the home healthcare and residential nursing services market in 2021. North America was the second largest region in the home healthcare market and residential nursing services.
Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Access to healthcare services is expected to improve in developing countries, driving the nursing care market in these geographies. Effective implementation of health plans is the main reason for improved access to healthcare in many developing countries such as India, China and Latin American countries. .
Some country-specific health reforms that aimed to improve access to health care include the basic medical insurance for urban residents in China and the new rural cooperative medical insurance schemes, Brazil’s Unified Health System. and Mexico’s popular health insurance. Improved access to healthcare is expected to have a positive impact on the growth of the nursing care market.
The nursing market is expected to be constrained by a shortage of qualified doctors, consultants, nurses and caregivers in both developed and developing countries. Developing countries are facing a severe shortage of health professionals as the demand for nursing care increases.
For example, according to the World Health Organization (WHO), there will be a shortage of 18 million health workers by 2030, with the majority of these personnel coming from low- and lower-middle-income countries. Developed countries are also experiencing a similar crisis.
According to a 2019 report by the Association of American Medical Colleges, the United States could face a doctor shortage of between 37,800 and 124,000 by 2034. This is primarily due to lack of the right skills, and the lack of education and appropriate work experience among applicants.
Going forward, the shortage of healthcare personnel is expected to continue to hold back the nursing market.
The nursing industry is adopting big data technologies to monitor patient health and deliver appropriate care. Big data is large amounts of data that can be analyzed to gain insights and guide decision-making.
Big data gives nursing providers access to a significant amount of data that can be used to help healthcare professionals identify future health risks and suggest appropriate remedies. Home care providers can also use this data to identify irregularities in patient treatment and improve treatment efficiency.
For example, MJHS, a leading home care, hospice and palliative care provider in the United States, adopted eCaring, a big data technology solution, to monitor a patient’s health hourly and track behaviors. and health outcomes for each patient.
Countries covered in the Home Healthcare and Home Nursing Services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia , the Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India. , Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, Korea South, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States, Venezuela and Vietnam.
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