The USA skilled nursing facility market has been valued at US$ 181.74 billion for 2022 and is expected to grow at a CAGR of 3.32% from 2022 to 2032, anticipated to be valued at US$ 251.94 billion by 2032.
Skilled nursing facilities offer high-quality care at a much lower cost than hospitals, resulting in high demand for USA skilled nursing facilities. The United States' growing geriatric population and high prevalence of multiple chronic diseases are driving USA skilled nursing facility market growth and USA skilled nursing facility adoption trends.
The geriatric population over the age of 65 increased by 9%, with 14.3 million adults over the age of 65 suffering from chronic disease and requiring skilled nursing facilities in the United States. The availability of Medicare and Medicaid, as well as emerging technologies, will drive the USA skilled nursing facility market's future trends in the coming years.
As the elderly population in the United States has grown, the prevalence of rising chronic diseases like diabetes, paralysis, hypertension, etc. has significantly increased the demand for USA skilled nursing facilities.
The COVID-19 pandemic had a negative impact on the USA skilled nursing facility market. Since US skilled nursing facilities were COVID-19 hotspots, the adoption of US skilled nursing facilities was restricted.
Following the COVID outbreak, skilled nursing facility centers in the United States installed wireless videoconferencing technologies to protect patients and staff from infection. Patients in skilled nursing facilities have access to the Internet in their rooms, allowing them to communicate with friends, family, and staff.
The majority of skilled nursing facilities are nursing homes that offer long-term care services that are not covered by Medicare. As a result, the availability of reimbursement and favorable investment returns are driving USA skilled nursing facility market growth.
According to the American Heart Association, cardiovascular disease is the leading cause of death for both men and women, with 82.6 million adults in the United States suffering from one or more conditions related to the heart.
| Attributes | Details |
|---|---|
| USA Skilled Nursing Facility Market Expected CAGR (2022 to 2032) | 3.32% |
| USA Skilled Nursing Facility Market Size (2022) | US$ 181.74 billion |
| USA Skilled Nursing Facility Anticipated Market Size (2032) | US$ 251.94 billion |
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The rise in the geriatric population, combined with an increase in chronic diseases and age-related diseases is driving the USA skilled nursing facility market growth. Skilled nursing is a type of facility that provides 24-hour care to those who are unable to live independently. Trained medical professionals provide specialized care to seniors with severe illnesses or injuries in skilled nursing facilities, thereby expanding the US skilled nursing facility market.
Residents are assisted with daily activities such as bathing, eating, laundry, and housekeeping by specially trained staff. They may specialize in a long-term skilled nursing facility, intermediate care, or short-term or acute nursing care, thereby surging the usage of USA skilled nursing facilities.
When compared to hospitals, skilled nursing facilities (SNFs) provide high-quality care at a much lower cost, resulting in high demand for USA skilled nursing facilities. The rising cases of chronic diseases in the United States, combined with an aging population, are fuelling the US skilled nursing facility market expansion.
For beneficiaries who meet the requirements for a covered stay, Medicare covers the entire amount for the first 20 days of the illness. From the twenty-first day of the covered stay until the hundredth day, the beneficiary is responsible for the self-payment. The co-payment for the fiscal year 2021 was USD 185.50 per day.
Despite several drivers, the high costs of skilled nursing facilities, combined with low acceptance of these services, limit the USA skilled nursing facility market growth to some extent. Furthermore, the institution of joint family, as well as the social stigma associated with nursing homes will be some of the major challenges confronting the US skilled nursing facility market.
One of the key factors driving the USA skilled nursing facility market growth is the increasing number of Alzheimer's patients, as well as the high incidence of dementia, a common form of Alzheimer's.
The ongoing research indicates that an increase in conditions such as diabetes, stroke, high blood pressure, and other lifestyle-related diseases has resulted in an increase in Alzheimer's, driving the USA skilled nursing facility market trends. A total of 2 million Medicare-eligible stays or about 1.5 million fee-for-service (FFS) beneficiaries and 4% of all FFS beneficiaries were provided in 2019 by about 15,000 SNFs.
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Based on ownership, the USA skilled nursing facility market has been divided into three groups: for-profit facilities, non-profit facilities, and government facilities. In 2022, the USA skilled nursing facility market was dominated by the for-profit sector.
For-profit businesses can offer incentives to operate at a lower cost than non-profit organizations by concentrating on maximizing the return-on-investment capital resulting in a boost in the demand for the USA skilled nursing facility market.
According to estimates, during the forecast period, the non-profit skilled nursing facilities will experience the fastest growth. This is because older people are being served at much lower or minimal cost by improving service, hiring more people, and reinvesting the revenue generated.
Non-profit nursing homes speed up USA skilled nursing facility market growth and USA skilled nursing facility market opportunities by providing advantages like lower rates of bedsores, ulcer prevalence, hospitalization, and shortages caused by the government, as well as higher staffing ratios.
The government skilled nursing facilities had a lower USA skilled nursing facility market share than for-profit and non-profit facilities. This could be due to poor care quality or a lack of compensation. The USA skilled nursing facility market growth of government nursing facilities is driven by high staff ratings in comparison to for-profit housing.
The USA skilled nursing facility market is divided into two types: freestanding and hospital. The most affordable type of facility that offers 24-hour service is freestanding. High Medicare payments are a major USA skilled nursing facility market growth driver in this segment. Increased Medicare spending is expected to fuel USA skilled nursing facility market growth for freestanding facilities.
In contrast, the hospital skilled nursing facility segment is expected to grow significantly during the forecast period. Through the collaboration of hospitals and their skilled nursing facilities, hospital-based nursing facilities provide better professional nursing services. Better infrastructure, as well as superior communication and coordination in hospitals, assist skilled nursing facilities in improving services based on patient needs.
Hospital skilled nursing facilities have seen an increase in medically complex hospitalizations, but their daily costs have risen due to an increase in qualified staff and shorter stays. Moving the patient to the skilled nursing facilities bed allows hospitals to reduce the inpatient's length of stay (LOS), freeing up the inpatient's bed for additional inpatient treatment, thereby surging the adoption of the USA skilled nursing facility market.
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The USA skilled nursing facility market is fragmented due to the presence of several local businesses. Businesses are also expanding their service portfolios. They are also concerned with keeping their prices competitive.
Some of the key market players are Life Care Services; Golden Living Centres; Life Care Centres of America Corporate; Peninsula Behavioral Health; Sava Senior Care Administrative Services LLC; Lincare, Inc. Genesis Healthcare; Brookdale Senior Living Solutions; The Ensign Group; Inc; Extendicare; Sunrise Senior Living; LLC; Life Care Services; Golden Living Centres; Life Care Centres of America Corporate; Peninsula Behavioral Health; Sava Senior Care Administrative Services LLC; Lincare, Inc.
These players in the US skilled nursing facility market are constantly working on new product development, employing various strategies such as mergers and acquisitions, partnerships, collaborations, and more.
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Many new USA skilled nursing facility market opportunities are emerging as manufacturers invest in research and development to create more advanced US skilled nursing facility solutions.
In November 2021, EnsignTM Group's parent company, Ensign Group, Inc., purchased properties in skilled and long-term care facilities in Arizona, California, and Kansas and invested in and provided skilled care and elderly living services, physiotherapy, vocational therapy, language therapy, other rehabilitation, and healthcare services.
Participants in the USA skilled nursing facility market are concentrating their efforts on Research and Development. They pursue strategic USA skilled nursing facility market growth initiatives such as expansion, product launches, joint ventures, and partnerships in order to strengthen their USA skilled nursing facility market position and gain a large customer base.
The USA skilled nursing facility market size is predicted to grow at 3.32% CAGR through 2032.
The USA skilled nursing facility market size is valued at USD 181.74 billion as of 2022.
The USA skilled nursing facility market share is expected to surpass USD 251.94 billion by 2032.
Some of the key drivers are: Increase in the geriatric population and quality service at lower costs compared to hospitals.
High costs and social stigma pertaining to US skilled nursing facilities are the market restraints.
1. Executive Summary | USA Skilled Nursing Facility Market
1.1. USA Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
4. Market Analysis 2017 to 2021 and Forecast, 2022 to 2032
4.1. Historical Market Size Value (US$ Million) Analysis, 2017 to 2021
4.2. Current and Future Market Size Value (US$ Million) Projections, 2022 to 2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Type of Facility
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Type of Facility, 2017 to 2021
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Type of Facility, 2022 to 2032
5.3.1. Freestanding
5.3.2. Hospitals
5.4. Y-o-Y Growth Trend Analysis By Type of Facility, 2017 to 2021
5.5. Absolute $ Opportunity Analysis By Type of Facility, 2022 to 2032
6. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Ownership
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Ownership, 2017 to 2021
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Ownership, 2022 to 2032
6.3.1. For-Profit
6.3.2. Non-Profit
6.3.3. Government
6.4. Y-o-Y Growth Trend Analysis By Ownership, 2017 to 2021
6.5. Absolute $ Opportunity Analysis By Ownership, 2022 to 2032
7. Key Countries Skilled Nursing Facility Market Analysis
7.1. USA
7.1.1. Pricing Analysis
7.1.2. Market Share Analysis, 2021
7.1.2.1. By Type of Facility
7.1.2.2. By Ownership
8. Market Structure Analysis
8.1. Competition Dashboard
8.2. Competition Benchmarking
8.3. Market Share Analysis of Top Players
8.3.1. By Country
8.3.2. By Type of Facility
8.3.3. By Ownership
9. Competition Analysis
9.1. Competition Deep Dive
9.1.1. Genesis Healthcare
9.1.1.1. Overview
9.1.1.2. Product Portfolio
9.1.1.3. Profitability by Market Segments
9.1.1.4. Sales Footprint
9.1.1.5. Strategy Overview
9.1.1.5.1. Marketing Strategy
9.1.2. Brookdale Senior Living Solutions
9.1.2.1. Overview
9.1.2.2. Product Portfolio
9.1.2.3. Profitability by Market Segments
9.1.2.4. Sales Footprint
9.1.2.5. Strategy Overview
9.1.2.5.1. Marketing Strategy
9.1.3. Lincare, Inc.
9.1.3.1. Overview
9.1.3.2. Product Portfolio
9.1.3.3. Profitability by Market Segments
9.1.3.4. Sales Footprint
9.1.3.5. Strategy Overview
9.1.3.5.1. Marketing Strategy
9.1.4. The Ensign Group, Inc
9.1.4.1. Overview
9.1.4.2. Product Portfolio
9.1.4.3. Profitability by Market Segments
9.1.4.4. Sales Footprint
9.1.4.5. Strategy Overview
9.1.4.5.1. Marketing Strategy
9.1.5. Extendicare
9.1.5.1. Overview
9.1.5.2. Product Portfolio
9.1.5.3. Profitability by Market Segments
9.1.5.4. Sales Footprint
9.1.5.5. Strategy Overview
9.1.5.5.1. Marketing Strategy
9.1.6. Sunrise Senior Living, LLC
9.1.6.1. Overview
9.1.6.2. Product Portfolio
9.1.6.3. Profitability by Market Segments
9.1.6.4. Sales Footprint
9.1.6.5. Strategy Overview
9.1.6.5.1. Marketing Strategy
9.1.7. Life Care Services
9.1.7.1. Overview
9.1.7.2. Product Portfolio
9.1.7.3. Profitability by Market Segments
9.1.7.4. Sales Footprint
9.1.7.5. Strategy Overview
9.1.7.5.1. Marketing Strategy
9.1.8. Golden Living Centers
9.1.8.1. Overview
9.1.8.2. Product Portfolio
9.1.8.3. Profitability by Market Segments
9.1.8.4. Sales Footprint
9.1.8.5. Strategy Overview
9.1.8.5.1. Marketing Strategy
9.1.9. LifeCare Centers of America Corporate
9.1.9.1. Overview
9.1.9.2. Product Portfolio
9.1.9.3. Profitability by Market Segments
9.1.9.4. Sales Footprint
9.1.9.5. Strategy Overview
9.1.9.5.1. Marketing Strategy
9.1.10. Peninsula behavioral health
9.1.10.1. Overview
9.1.10.2. Product Portfolio
9.1.10.3. Profitability by Market Segments
9.1.10.4. Sales Footprint
9.1.10.5. Strategy Overview
9.1.10.5.1. Marketing Strategy
9.1.11. Sava Senior Care Administrative Services LLC
9.1.11.1. Overview
9.1.11.2. Product Portfolio
9.1.11.3. Profitability by Market Segments
9.1.11.4. Sales Footprint
9.1.11.5. Strategy Overview
9.1.11.5.1. Marketing Strategy
10. Assumptions & Acronyms Used
11. Research Methodology
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USA Skilled Nursing Facility Market
