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Research and Markets: United States Long Term Care Market 2014: Nursing Homes, Home Care, Hospice Care, and Assisted Living - Analysis of the $224 Billion Market

[May 13, 2014]

Research and Markets: United States Long Term Care Market 2014: Nursing Homes, Home Care, Hospice Care, and Assisted Living - Analysis of the $224 Billion Market

DUBLIN --(Business Wire)--

Research and Markets (http://www.researchandmarkets.com/research/pjljkt/the_long_term) has announced the addition of the "The Long Term Care Market: Nursing Homes, Home Care, Hospice Care, and Assisted Living" report to their offering.

The advancing age of the population makes long-term care an important consideration for health marketers. This report, The Long Term Care Market: Nursing Homes, Home Care, Hospice Care, and Assisted Living, covers the most important segments of the long term care industry, each of which provide medical care and/or assistance with the activities of daily living (ADLs) on an ongoing basis.

In 2008, the overall U.S. long term care industry exceeded $224 billion. Through 2013, the industry overall experienced solid expansion, growing by 4.3% per year, on average, to reach $276.7 billion. The strongest growth occurred in the home care segment, which expanded by 7.2% per year through a combination of price increases and expanded utilization.

Assisted living revenues grew at a slower rate of 5.6% per year in a weak economy in which consumer spending is reduced from prior levels. At 1.6% per year, nursing care demonstrated the lowest growth and is increasingly suffering from state efforts to reimburse lower cost home care over higher priced nursing care.

Segments Covered

- Nursing care

- Home care

- Hospice care

- Assisted living

This detailed report on the long term care industry comes at a time of growth but also increasing concern, particularly about payments, for the long term care industry. The elderly must contribute a far greater amount towards care out of pocet than was once the case. The economy has challenged the business strategies of key players, while the recent healthcare legislation introduces changes that may affect revenues.

Although a small segment of long term care users are younger individuals with various mental and physical disabilities, most persons using long term care services are senior citizens. This population will also drive industry growth over the forecast period. Therefore, this report will focus on the elderly as the primary customers of long term care services.

Key Topics Covered:

Section One: Executive Summary