According to IMARC Group’s latest research report, titled “Skilled Nursing Facility Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” offers a comprehensive analysis of the industry, which comprises insights on the skilled nursing facility market trends. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global skilled nursing facility market size reached US$ 354.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 628.6 Billion by 2032, exhibiting a growth rate (CAGR) of 6.58% during 2024-2032.
Skilled Nursing Facility Market Overview:
A skilled nursing facility (SNF) is a healthcare institution that provides round-the-clock nursing care and rehabilitation services to individuals with complex medical needs. SNFs are designed to cater to patients who require a higher level of care than what can be provided at home or in assisted living facilities. They offer various services, including medication management, wound care, physical and occupational therapy, and specialized care for conditions like Alzheimer’s or post-surgical recovery. Skilled nursing facilities support individuals with chronic illnesses, disabilities, or those recovering from surgery or hospitalization, providing comprehensive medical care and assistance to enhance their quality of life.
Skilled Nursing Facility Market Trends:
The global market is majorly driven by the increasing aging population. The growing number of elderly individuals who require specialized care and assistance contributes to the growth of the market. In line with this, the rising prevalence of chronic diseases such as diabetes, heart disease, and dementia is driving the demand for skilled nursing facilities that can provide the necessary support. Furthermore, the advancements in healthcare technology have improved the quality of care in skilled nursing facilities. Electronic health records, remote monitoring systems, and assistive devices enhance patient care and safety, attracting more individuals to seek skilled nursing services.
Apart from this, the escalating demand for rehabilitation services and post-acute care is catalyzing the market. Moreover, the growing preference for community-based care over institutionalized care settings is creating a positive outlook for the market. Besides, the increasing awareness about the benefits of skilled nursing facilities is stimulating the market. Additionally, government policies and regulations play a significant role in shaping the skilled nursing facility market. Supportive regulations, reimbursement programs, and government funding initiatives contribute to the growth and sustainability of the market.
The increasing prevalence of medical disorders, such as diabetes, hypertension, cardiovascular disease, Alzheimer’s, and dementia, is driving the global market. Moreover, the rising focus on providing high-quality patient-centered care and improving the effectiveness of physical therapy is catalyzing the market. Apart from this, continual advancements in medical technology, such as improvements in medical treatments, diagnostic tools, and rehabilitation techniques, enhance the quality of care provided in SNFs, thus providing a boost to the market. Furthermore, the rising focus on providing high-quality patient-centered care and improving the effectiveness of physical therapy is further supporting the growth of the market. Other factors, including significant improvements in healthcare infrastructure, and extensive research and development (R&D) activities are also influencing the market.
Competitive Landscape with Key Players:
The report has also provided a comprehensive analysis of the competitive landscape in the global skilled nursing facility market. Some of the companies covered include:
- Brookdale Senior Living Inc.
- Extendicare Inc.
- Genesis HealthCare
- Life Care Centers of America Inc.
- Lincare Holdings Inc. (Linde plc)
- ProMedica Health System Inc.
- SavaSeniorCare Administrative Services LLC
- Sunrise Senior Living (Red Fox Holding Corporation)
- The Ensign Group Inc.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global skilled nursing facility market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on facility type, service type and ownership type.
Facility Type Insights:
- Freestanding
- Hospital
Service Type Insights:
- Intensive Rehabilitation Therapy
- Low and Medium Rehabilitation
- Medically Complex
Ownership Type Insights:
- Non-Profit
- For-Profit
- Government
Breakup by Region:
- North America (United States, Canada)
- Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Facility Types Covered | Freestanding, Hospital |
| Service Types Covered | Intensive Rehabilitation Therapy, Low and Medium Rehabilitation, Medically Complex |
| Ownership Types Covered | Non-Profit, For-Profit, Government |
| Regions Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Brookdale Senior Living Inc., Extendicare Inc., Genesis HealthCare, Life Care Centers of America Inc., Lincare Holdings Inc. (Linde plc), ProMedica Health System Inc., SavaSeniorCare Administrative Services LLC, Sunrise Senior Living (Red Fox Holding Corporation), The Ensign Group Inc., etc. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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