Private Nursing Services Market Estimated to Generate a Revenue of $1,299.8 Billion by 2026, Growing at a CAGR of 6.3% from 2019-2026[170-Pages] | Exclusively Available on Research Dive
The private nursing services market is predicted to witness an enormous growth due to rising chronic diseases among elderly people and soaring nuclear families across the world. The female nursing care sub-segment is estimated to be most dominant. The North America region is anticipated to have better growth opportunities during the forecast period.
New York, USA, Dec. 08, 2021 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global private nursing services market is expected to garner a revenue of $1,299.8 million by 2026 and grow at a stable CAGR of 6.3% over the analysis period from 2019-2026. The comprehensive report provides a brief outline of the private nursing services market’s present scenario including key particulars of the market such as growth factors, challenges, restraints and various opportunities during the estimated timeframe of 2019-2026. The report also provides all the market figures to help new participants analyze the market easily.
Dynamics of the Market
Drivers: Increased chronic diseases among people have become a huge concern for families, compelling them to rely on professionals in nursing cares. This factor is expected to boost the growth of the private nursing services market during the forest period. Additionally, a vast shift in the social life has resulted in the rising number of nuclear families who face difficulties to provide adequate care to the dependent member. This is expected to further strengthen the market’s development by 2026.
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Opportunities: Families across the globe choosing to live separately as nuclear families led to a soaring demand for quality private nursing cares. And considering that the retired community would now be staying indoors without any exercises, there are high chances of elderly people requiring healthcare and nursing services. These factors are predicted to offer ample opportunities for the private nursing services market to grow during the forecast years.
Restraints: The unavailability of skilled labors and nursing services in rural areas are the major obstructions for the private nursing services market’s growth.
Segments of the Market
The report has divided the private nursing services market into a few segments based on service type, end-use, and regional analysis.
Service Type: Retirement Communities Sub-segment to Have Highest Growth Rate
By service type, the retirement community sub-segment is expected to witness the highest growth rate, registering a revenue of $353.5 billion by 2026. Families are now choosing to stay nuclear which greatly reduces the number of individuals in the family to look after an elderly retired person. This drift in the social life has caused a spike in the hiring of healthcare and nursing professionals. This factors greatly boost the growth of the market’s sub-segment during the analysis period.
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End-use: Female Nursing Care Sub-segment to be Most Dominant
By end-use, the female nursing care sub-segment is predicted to have a dominating market share and is expected to register a revenue of $773.4 billion by 2026. Female nurses are more sensitive to the patients and treat them with more care, as compared to male nurses. Also, most of the times patients prefer female nurses over the male ones, thus strengthening the growth of private nursing services market’s sub-segment during the forecast years.
Region: North America to Have Better Growth Opportunities
By regional analysis, the North America region is expected to witness better growth opportunities and will grow at a CAGR of 5.4% during the analysis period. The rising geriatric population and number of hospitals and infrastructures in the region leads to better opportunities for the growth of private nursing services market. Moreover, higher per capita income of the people in the region is further expected to support the market’s development in North America.
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Major Market Players
The prime players of the private nursing services market include
- Grand World Elder Care
- Apollo Hospitals Enterprise Ltd.
- Trinity Health
- Columbia Asia
- The Ensign Group Inc.
- Kindred Healthcare LLC
- Genesis Healthcare
- Kaiser Permanente
- CBI Health Group Inc.
- Brookdale Senior Living, and many more.
These chief participants of the market are developing strategies like product enhancement, merger and acquisition, partnerships and collaborations to assist the market growth.
For example, in December 2021, BioIntelliSense, a DaaS platform and on-body sensor manufacturer, collaborated with Renown Health, a leading local healthcare network, to design a scalable system for optimizing critical healthcare resources and nurse workflow efficiencies.
The comprehensive report also summarizes many crucial facets including financial performance of the key players of the private nursing services market, SWOT analysis, product portfolio, and the latest strategic developments.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
Related Article Links:
- Rising Number of Nuclear Families to be a Driving Factor for the Growth of Private Nursing Services.
- Private duty nursing offers more patient and consistent professional services
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