U.S. Post-acute Care Market size is set to exceed USD 578.2 billion by 2028, according to a new research report by Global Market Insights Inc.
The rapid growth in the aging population and prevalence of chronic disease will drive the market progression during the forecast period. Strategic partnerships among post-acute care service providers along with surging focus on care-coordination along post-acute spectrum are few aspects driving the business expansion.
Rising geriatric population will fuel the market progression
Growing aging population across the U.S. is one of the major contributing factors to the U.S. post-acute care market growth. For instance, as per the Rural Health Information Hub, people in the age bracket of 65 grew to 46 million in 2020 and is set to grow over 90 million in 2050. Since the elderly population are unable to travel far for treatment of numerous chronic ailments, post-acute care services will continue to give improved health results at a reduced cost.
Furthermore, the American geriatric population base over 65 is Medicare-eligible and avail the insurance benefits along with the value-based care in their home without frequently visiting to hospitals, thereby minimizing the overall expenses. This in turn, surges the demand for post-acute care thus, augmenting the industry landscape.
Favorable reimbursement policies for LTCHs will upsurge the industry expansion
Based on the services, the U.S. post-acute care market is categorized into inpatient rehabilitation facilities (IRF), skilled nursing facilities (SNFs), home health agencies (HHAs), hospital care, long-term care hospitals (LTCHs) and others. Among these, the long-term care hospitals (LTCHs) segment crossed USD 50 billion in 2021. Long-term care hospitals specializes in treating patients suffering with more than one serious health condition and requires improvement with time and care. Such factors will drive the segmental demand.
Moreover, long-term care hospitals (LTCHs) generally give services like respiratory therapy, head trauma treatment, and pain management. LTCHs are cost-effective in term of treatment as compared to hospitals due to the presence of favorable reimbursement policies by Medicare. Such favorable scenarios will drive the overall industry outlook.
Browse key industry insights spread across 380 pages with 404 market data tables & 12 figures & charts from the report, “U.S. Post-acute Care Market Forecasts By Services (Inpatient Rehabilitation Facilities [IRF], Skilled Nursing Facilities [SNFs], Home Health Agencies [HHAs], Hospice Care, Long-term Care Hospitals [LTCHs]), Conditions (Amputations, Wound Management, Brain Injury, Spinal Cord Injury, Neurological Disorders), Age (Elderly [65 years and older], Adult [45 to 65 years]), Industry Analysis Report, State Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
Rising demand for speech therapy for patient’s suffering with neurological disorders will fuel the market share
By condition, the U.S. post-acute care market is classified into amputations, wound management, brain injury, spinal cord injury, neurological disorders, and others. The neurological disorders segment is expected to register over 5.3% CAGR during the analysis timeframe. Surging prevalence of neurological disorders such as epilepsy, depression, Alzheimer's, dementia, Parkinson's disease, migraine, and multiple sclerosis in the country will supporting the industry scenario.
Availability of wide array of services for adults will boost the overall industry forecasts
Based on age, the U.S. post-acute care market is categorized into elderly (65 years & older), adult (45-64 years), and others. Among these, the adult segment accounted for USD 143 billion in 2021, as adults suffering with disabilities prefer post-acute care services. Additionally, post-acute care services encompass a wide range of services, including institutional services delivered in specialty hospitals and nursing homes, as well as several home and community-based services that secures the segmental progression.
Furthermore, post-acute care improves the quality of life and reduces hospital readmissions. Thus, due to increasing awareness regarding post-acute care services in adults, the market is expected to flourish during the analysis timeframe.
Increasing healthcare spending in post-acute care services will promote the industry statistics
The Northeast post-acute care market accounted for more than 26.8% revenue share in 2021. The continuous improving performance of healthcare system and rapid advances in the field of post-acute care services, will drive the market share. Additionally, increasing healthcare spending in the state in recent years will further propel the market progression.
Furthermore, presence of trained professionals and increased investments by government for the adoption of latest technologies has been seen to cater high patient volumes in post-acute care centers. As technological tools aid post-acute care providers for improvement in coordination and care of patients. Such scenarios will add value to the regional market statistics.
Major leaders are focusing on strategies & launching innovative products to capture a higher market share
Some of the major business players operating in the U.S. Post-acute Care market include Alden Network, Amedisys Inc., AMITA Health, Athena Health Care Systems, Bella Vista Health Center, Benchmark Senior Living, Brookdale Senior Living, CareCentrix, Inc., CareCentrix, Inc., Covenant Care, Encompass Health Corporation, Evernorth Health, Inc., Focused Post-Acute Care Partners, LLC, FutureCare, Genesis Healthcare, Kindred Healthcare, LHC Group, Lincoln Square Post-Acute Care, Mission Hills Post-Acute, Montecito Post-Acute Care and Rehabilitation, naviHealth, Inc., PAC Leaders, Peninsula Post-Acute, Post-Acute Medical, Post-Acute Partners, Santé, SoCal Post-Acute Care, Sonoma Post-Acute, South Bay Post-Acute Care, Spring Hills, SYMPHONY CARE NETWORK, Victoria Post-Acute Care, Vineyard Post-Acute, Vitas Healthcare, and Windsor Post-Acute Care Center.
For instance, in March 2020, Athena Health Care Systems opened new Centers in Torrington & Meriden to care for COVID-19 Patients. Such step taken by company helped in boosting its regional presence in the market.