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Long Term Care Market – By Service Type, By Age Group, By Gender, By Payer– Global Forecast, 2025 to 2034
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Long Term Care Market
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Premium Report Details
Base Year: 2024
Companies covered: 15
Tables & Figures: 103
Countries covered: 19
Pages: 130
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Long Term Care Market Size
The global long term care market size was valued at USD 1.2 trillion in 2024 and is expected to exhibit growth at a CAGR of 6.2% from 2025 to 2034 period. Long-term care encompasses an array of services to meet the medical, personal, and social needs of a person that is incapable of performing daily tasks for a long duration.
It is mostly provided to the elderly and people that suffer from chronic medical conditions and disabilities in nursing homes, assisted living facilities, and even through in-home eldercare services. The proliferation in the market is due to the increased population of elderly suffering from chronic diseases, increased awareness of specialized care, advancements in care delivery technologies, among other factors.
Additionally, the global elderly population is increasing at an alarming rate, which is most notable in developed countries because of advancements in medicine and increased life expectancy. For instance, a recently conducted study from the United Nations (UN) Global Ageing and Adult Health indicates that the population aged ≥65 years will be three times as large within 30 years as it is today. By the year 2050, their number is expected to reach about 1.6 billion, which is approximately 16% of the global population.
Because of the demographic change, there will be increased demand for long-term care services to address age-associated problems such as frailty, impaired mobility, and deterioration of mental abilities. An increasing number of specialized facilities and caregivers will be required to provide care services for this segment.
Furthermore, the development of AI-powered technologies, remote patient monitoring systems, and medical wearable devices has augmented the effectiveness and efficiency of long-term care services. Such technologies enable patients to have their health metrics monitored in real-time, which makes these services more effective and appealing.
Long Term Care Market Trends
There are a number of long-term care market trends that are emerging and redefining the industry’s growth in the global and regional markets. These include an increase in individual home and community care clients, the rise in focus on advanced specialized care services, and an increased demand for integrated technology-supported care delivery systems, among others.
Long Term Care Market Analysis
Based on service type, the market is segmented as community based services, facility based care services, home healthcare services, and other service types. The community based services segment is further divided into adult day care, continuing care retirement communities (CCRC), and other community based services. The community based services segment is expected to drive business growth and expand at a CAGR of 5.9%, reaching over USD 752.9 billion by 2034.
Based on age group, the long term care market is segmented as 65 to 74, 75 to 84, and 85 years and older. The 75 to 84 age group segment is expected to drive business growth and expand at a CAGR of 6.5%, reaching over USD 796.8 billion by 2034.
Based on gender, the long term care market is segmented into male and female. The female segment generated the highest revenue of USD 710.1 billion in 2024.
Based on payer, the long term care market is classified into public, out-of-pocket, and private. The public segment dominated the market with a revenue share of 44.6% in 2024.
U.S. long term care market accounted for USD 477.4 billion in 2024 and is anticipated to grow at a CAGR of 6% between 2025 to 2034 period.
Germany long term care market is projected to grow remarkably in the coming years.
China holds a dominant position in the Asia Pacific long term care market.
Long Term Care Market Share
The long-term care market is quite competitive, comprised of public and private providers that provide a variety of services ranging from institutional care (nursing homes and assisted living) to community and home care. Major stakeholders include both traditional healthcare providers and new entrants such as private nursing homes and home care agencies and firms that rely on technology. There are growing investments from companies in the private sector aimed at improving the quality of individual care services offered by providers and at providing technological solutions to aid delivery. Competition is also driven by governmental policies and regulations in place, which some providers use to gain an edge in delivering the now more sought-after specialized services.
Long Term Care Market Companies
Prominent players operating in the long term care industry include:
Long Term Care Industry News:
The long term care market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million and from 2021 – 2034 for the following segments:
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Market, By Service Type
Market, By Age Group
Market, By Gender
Market, By Payer
The above information is provided for the following regions and countries: