[FURL=https://www.industryarc.com/Report/19515/Long-Term-Care-market.html?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease] Long Term Care Market[/FURL] size is estimated to reach $1,359.40 Billion by 2025 and is poised to grow at a CAGR of 6.73% during the forecast period 2020-2025. Long-term care is a term used for a variety of services, which are specifically designed to meet a person's short and long-term requirements for health and personal care. This is also called activities of daily living, or ADLs, when it is introduced for personal care, such as getting dressed, bathing, eating, grooming, using the toilet, and commuting. These services are useful for those who cannot independently and effectively perform daily events. Users of these services include people who suffer from a chronic disease, injury, disability, or aging process. The high elderly population and the increased prevalence of various diseases such as Alzheimer's and dementia are among the main factors driving the market. Additionally, the increased awareness of long-term care services further boosts market growth over the forecast years 2020-2025.Key Takeaways
Geographically, the North America area is poised to see extraordinary development owing to the presence of high percentage of the elderly population in the region and is set to continue during forecast period 2020-2025.
The global demand for the Long-Term Care Market is owing to the increasing prevalence of elderly population with chronic diseases around the globe.
The high cost of Long-Term Care services is estimated to restrain market growth during the forecast period 2020-2025.
Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Long-Term Care Market report.
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Long Term Care Market Drivers
Rising incidence of chronic diseases
The long-term care market is gaining growth primarily owing to the increasing prevalence of elderly population with chronic diseases. Increased government funding to improve treatment and vaccination at LTC facilities is driving market growth. Increased cooperation between private insurance companies with various governments in recent years, along with technological developments associated with devices used to provide patient care to improve quality of life.
Long Term Care Market companies of this market Brookdale Senior Living Inc, Sunrise Carlisle LP, Home Instead Senior Care Inc, Atria Senior Living Group, Capital Senior Living, Extendicare Inc, Diversicare Healthcare Services Inc, Kindred Healthcare Inc, Genesis Healthcare Corp, Senior Care Centers of America, and Amedisys Inc
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