U.S. Long Term Care Market Growth & Trends

The State & Federal Governments of the U.S. are taking initiatives for long-term care. According to New York State (NYS) Public Health Law Article 21-A, it is mandatory for a facility to provide pneumococcal and influenza vaccination to the residents and healthcare professionals. This has driven the demand for immunization supplies from LTC facilities. Nursing care centers have emerged as one of the highest providers of therapeutic and vaccination services of all types.

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U.S. Long Term Care Market Report

U.S. Long Term Care Market Report Highlights

• The skilled nursing facility segment dominated the market for long-term care in the U.S. in terms of revenue in 2021. This can be attributed to the presence of a large number of facilities offering medical supervision and round the clock assistance
• Although the geriatric population is the major consumer pool of these services, other age groups are also benefiting from long-term care. Increasing demand for long-term care for all ages is creating major opportunities for home healthcare service providers in the U.S
• The U.S long-term care market has been witnessing several mergers and acquisitions and partnerships resulting in the integration of various services and maximizing revenue. For instance, in October 2021, Amedisys announced the expansion of its home healthcare services with the opening of new centers in Charlotte and Raleigh, North Carolina
• In August 2021, Humana acquired Kindred at Home, which includes services such as personal care, hospice, and home health
• Group purchasing organizations contribute to the growth of the LTC market as they facilitate the distribution of medical supplies, pharmaceuticals products, and vaccinations. There are organizations dedicated to LTC facilities operating mainly in the U.S. GeriMed is a group purchasing organization, which offers pharmacy and contract services to the LTC in the U.S
• A significant increase in the adoption of telehealth solutions since 2020 is expected to increase the adoption rate of LTC software. Among long-term care providers, home healthcare centers and skilled nursing facilities are leading users of long-term care software