Skilled Nursing Facility Market Trends, Growth Rate, and Forecast 2023-2028

According to IMARC Group’s latest research report, titled “Skilled Nursing Facility Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” presents a comprehensive analysis of the industry, covering skilled nursing facility market share, overview, size, trends, demand, and growth prospects. The report also provides competitor and regional analysis and showcases the contemporary advancements in the global market.

How big is the Skilled Nursing Facility Market?

The global skilled nursing facility market size reached US$ 328.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 516.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.74% during 2023-2028.

What is a Skilled Nursing Facility?

A skilled nursing facility (SNF) is a medical care center that provides 24-hour nursing care to individuals who require significant medical attention and support. It is typically staffed with licensed medical professionals, including registered nurses, licensed practical nurses, and certified nursing assistants. It is designed to care for patients recovering from a serious illness, injury, surgery, or chronic medical conditions requiring ongoing management. It provides a wide range of medical services, including wound care, medication management, physical therapy, occupational therapy, speech therapy, and respiratory therapy. In addition to medical care, it provides personal care services, such as help with bathing, dressing, grooming, and assistance with activities of daily living.

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What are the Growth Prospects and Trends in the Skilled Nursing Facility Market?

The global market is majorly driven by the growing prevalence of chronic diseases, such as Alzheimer’s disease, Parkinson’s disease, and diabetes. In line with this, the increasing aging population is significantly contributing to the market growth. Furthermore, the key players are developing new products and services to improve the quality of care in SNFs and enhance patient outcomes. Apart from this, the easy availability of skilled nursing services and the rising health care expenditure are positively influencing the market. Moreover, the high incidence of dementia worldwide is accelerating the demand for a skilled nursing facilities. Besides, the extensive research and development (R&D) activities is offering numerous opportunities for market expansion. Additionally, the growing focus on providing high-quality, patient-centered care is providing a boost to the market.

Who are the key Players Operating in the Industry?

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.

What is included in Market Segmentation?

The report has segmented the market into the following categories:

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)
Asia 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.

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