Reports And Data

The global Skilled Nursing Facility (SNF) rehabilitation market size was USD 227 Billion in 2022

NEW YORK, NY, UNITED STATES, April 23, 2023 /EINPresswire.com/ -- The Skilled Nursing Facility (SNF) rehabilitation market size globally was USD 227 billion in 2022 and is expected to achieve a fast revenue CAGR of 4% during the forecast period. The market revenue growth is being driven by major factors such as increasing aging population, rising prevalence of chronic diseases, and demand for SNFs and related rehabilitation services. SNFs offer a range of advantages such as assistance with activities of daily living, individual care plans, post-hospital and post-surgical care, and long-term custodial care, making them more in demand due to the increasing number of surgeries and hospital stays.

Furthermore, technological advancements in healthcare have decreased hospital readmission rates and healthcare expenditures, leading to better patient outcomes and lower healthcare costs. The rising awareness of the significance of rehabilitation services is expected to drive market revenue growth, with reimbursement programs such as Skilled Nursing Facility Value-Based Purchasing (SNF VBP) program and Skilled Nursing Facility Quality Reporting Program (SNF QRP) launched by the Centers for Medicare and Medicaid Services (CMS) to encourage SNFs to offer high-quality rehabilitation services.

However, the market revenue growth could be restrained due to a lack of qualified healthcare workers, high cost of rehabilitation services in SNFs, and increasing emphasis on value-based care and alternative payment models. The shortage of healthcare workers has resulted in a greater burden and lower standard of treatment, while the high cost of rehabilitation treatments limits access to care, particularly for patients with poor incomes and no insurance.

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Segments Covered in the Report

This report provides a comprehensive analysis of the global Skilled Nursing Facility (SNF) Rehabilitation market. It offers historical data and forecasts revenue growth at a global, regional, and country level for the period 2019-2032. Reports and Data has segmented the market based on service type, care type, end-use, and region.

As per the report, the global market size value was USD 227 billion in 2022, with a revenue CAGR of 4% forecasted during the period 2022-2032. The report predicts the market will grow to reach a revenue forecast of USD 323.09 billion in 2032. The base year for estimation was 2022, with historical data covering 2020-2021 and a forecast period of 2022-2032. The quantitative units used are revenue in USD Billion, with a CAGR from 2022 to 2032.

The report covers revenue forecasts, company ranking, competitive landscape, growth factors, and trends, with segments covered including Service Type Outlook, Care Type Outlook, End-use Outlook, and Regional Outlook.

The Service Type Outlook segment is further categorized into Physical Therapy, Occupational Therapy, Speech Therapy, Respiratory Therapy, and Others. The Care Type Outlook segment includes Inpatient and Outpatient categories. The End-use Outlook is classified into Hospital-based and Stand-alone categories.

The report offers a regional scope that includes North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Competitive Landscape:

The global Skilled Nursing Facility (SNF) rehabilitation market is highly competitive and dominated by a few major players. The market is expected to register a CAGR of 4% during the forecast period from 2022 to 2032. Some of the key players in the market are Kindred Healthcare, Brookdale Senior Living, Ensign Group, Genesishcc, Select Medical, Healthcare Services Group, SavaSeniorCare, National Healthcare Corporation, Consulate Health Care, and RehabCare.

These companies offer a wide range of rehabilitation services, including physical therapy, occupational therapy, speech therapy, respiratory therapy, and others. They also provide inpatient and outpatient care options to patients, depending on their needs.

To remain competitive, companies in the SNF rehabilitation market are focusing on strategic initiatives such as mergers and acquisitions, partnerships, and collaborations. These initiatives help them to expand their geographical reach, strengthen their service offerings, and improve their market share.

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Moreover, companies are investing in the development of advanced technologies to provide better rehabilitation services to patients. For instance, many SNF rehabilitation centers are adopting telemedicine and remote patient monitoring technologies, which enable remote rehabilitation services and reduce hospital readmission rates.

Overall, the global SNF rehabilitation market is expected to grow rapidly in the coming years due to the increasing aging population and rising prevalence of chronic diseases, among other factors. The market is expected to witness intense competition among major players, which will drive innovation and service quality improvements.

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Nikhil Morankar
Reports and Data
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