This statistic displays the size of the long-term care market in the U.S. from 2013 to 2016, and forecasts from 2017 to 2024, by service. In 2016, the long-term care market in the U.S. was estimated to be worth some 334 billion U.S. dollars, with hospice services accounting for around 28 billion dollars of this total.

In 2020, there were a total of 884,400 long-term care FTE staff in the United States, not including nursing home staff*. These employees provided LTC for 7.3 million service users that year.

Forecast: Healthcare Expenditure on Inpatient Long-Term Care in the UK 2024 - 2028 Discover more data with ReportLinker!

In 2023, assisted living facilities in the U.S. cost a median of 64,200 U.S. dollars per year, an increase of five percent compared to the previous year. Long term care can be provided in various environments. Assisted living facilities (ALF) are for those who may need assistance with daily living and provide both personal care and health services. Nursing home facilities provide more extensive services than ALFs, including medical care.

Forecast: Healthcare Expenditure on Residential Long-Term Care Facilities in Italy 2024 - 2028 Discover more data with ReportLinker!

On an annual basis (calendar year), individual LTC facilities report facility-level data on services capacity, utilization, patients, and capital/equipment expenditures.

Forecast: Healthcare Expenditure on Long-Term Care (Social) in the Netherlands 2024 - 2028 Discover more data with ReportLinker!

Market Overview:

Vietnam long term care market size is projected to exhibit a growth rate (CAGR) of 5.40% during 2024-2032. The escalating demand for comprehensive eldercare services, the growing acceptance of professional LTC among the masses, rising adoption of digital health records, telemedicine, and advanced medical equipment, and the increasing interest of international investors and healthcare providers represent some of the key factors driving the market.

Report Attribute	Key Statistics
Base Year	2023
Forecast Years	2024-2032
Historical Years	2018-2023
Market Growth Rate (2024-2032)	5.40%

Long term care (LTC) refers to a range of services and supports necessary for individuals with chronic health conditions or disabilities. In Vietnam, this sector is rapidly gaining importance due to its crucial role in addressing the comprehensive needs of an aging population. It encompasses various forms of care, including home care, adult day care, nursing homes, and assisted living facilities, each designed to meet specific health and personal care requirements over an extended period. These services are tailored to assist individuals in performing essential daily activities such as bathing, dressing, and meal preparation while also providing medical care and rehabilitative therapies. Additionally, LTC services are integral in relieving the burden on family caregivers by providing professional care and support. In Vietnam, LTC combines modern healthcare practices with traditional cultural values, ensuring that care is both effective and respectful of the country's social norms.

Vietnam Long Term Care Market Trends:

The market in Vietnam is majorly driven by the country's rapidly aging population, which is increasing the demand for comprehensive eldercare services. This demographic shift, combined with rising life expectancy, underscores the need for quality LTC facilities. Along with this, the growing prevalence of chronic diseases and the resultant need for prolonged medical care are bolstering the market. In addition to this, the considerable rise in awareness and acceptance of professional LTC among the Vietnamese population from the traditional reliance on family-based care is fueling the market. In line with this, the changing socio-economic landscape, with more families seeking professional care solutions due to busy lifestyles and rapid urbanization is creating lucrative opportunities in the market. Concurrently, continual technological advancements in healthcare are also playing a pivotal role in shaping Vietnam's LTC market. Moreover, the rising adoption of digital health records, telemedicine, and advanced medical equipment in LTC facilities enhances the quality of care and efficiency, thereby providing an impetus to the market. Apart from this, the introduction of supportive government policies and investments in healthcare infrastructure are positively influencing the market. Another significant trend is the growing interest of international investors and healthcare providers in Vietnam's LTC market. This influx of foreign investment is expanding the capacity of existing facilities and introducing international standards of care and management practices. In confluence with this, the collaboration with global healthcare entities is offering innovative care models and training programs, elevating the standard of LTC services in Vietnam. Furthermore, the increasing foreign investment and growing recognition of the importance of professional long-term care are creating a positive market outlook.

Vietnam Long Term Care Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on service, gender, and payer.

Service Insights:

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• Home Healthcare
• Hospice
• Nursing Care
• Assisted Living Facilities
• Others
  

The report has provided a detailed breakup and analysis of the market based on the service. This includes home healthcare, hospice, nursing care, assisted living facilities, and others.

Gender Insights:

• Male
• Female
  

A detailed breakup and analysis of the market based on the gender have also been provided in the report. This includes male and female.

Payer Insights:

• Public
• Private
• Out-of-Pocket
  

The report has provided a detailed breakup and analysis of the market based on the payer. This includes public, private, and out-of-pocket.

Regional Insights:

https://www.imarcgroup.com/CKEditor/79a9577d-868b-4b98-9f39-83a34428c6b2region.webp" style="height:450px; width:800px" />

• Northern Vietnam
• Central Vietnam
• Southern Vietnam
  

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Vietnam Long Term Care Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Scope of the Report	Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Service Gender Payer Region
Services Covered	Home Healthcare, Hospice, Nursing Care, Assisted Living Facilities, Others
Genders Covered	Male, Female
Payers Covered	Public, Private, Out-of-Pocket
Regions Covered	Northern Vietnam, Central Vietnam, Southern Vietnam
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699
Post-Sale Analyst Support	10-12

According to Cognitive Market Research, the global Long-term Care Software market size will be USD 5.8 billion in 2024 and will expand at the compound annual growth rate (CAGR) of 9.3% from 2024 to 2031. Market Dynamics of Long-term Care Software Market

Key Drivers for Long-term Care Software Market

Increasing Technological Advancements and Integration - The technological advancements has an important role in driving the long-term care software market. Innovations in cloud computing, artificial intelligence (AI), and telehealth have revolutionized how long-term care facilities operate. Cloud-based solutions offer scalability, flexibility, and remote access to patient data, allowing caregivers to provide timely and accurate care. AI-powered analytics enhance decision-making processes by predicting patient outcomes and identifying potential health risks. Telehealth services have gained prominence, especially during the COVID-19 pandemic, enabling remote consultations and continuous patient monitoring. Integration of long-term care software with other healthcare systems, such as hospital information systems and pharmacy management, ensures seamless data flow and interoperability.
The government initiatives and regulatory compliance are anticipated to drive the Long-term Care Software market's expansion in the years ahead.

Key Restraints for Long-term Care Software Market

The high implementation and maintenance costs can deter the adoption of long-term care software, limiting the Long-term Care Software industry growth.
The market also faces significant difficulties related to limited technical expertise.

Introduction of the Long-term Care Software Market

The Long-term Care Software Market is experiencing notable growth, driven by the surging demand for efficient management systems in care facilities catering to the elderly and chronically ill. This software includes a range of functionalities, including electronic health records (EHR), billing, scheduling, and compliance management, aimed at streamlining operations and improving patient care. As the aging population rises, the need for comprehensive care solutions becomes more critical, propelling the adoption of LTC software. Additionally, the advancements in technology and growing awareness about the benefits of digital solutions in healthcare contribute to market expansion. However, despite these positive trends, the market faces challenges such as high implementation costs and the need for specialized training for staff. Nevertheless, with continuous innovation and supportive government initiatives, the long-term care software market is assured for the significant growth, enhancing the efficiency and quality of care services offered to older people and those with chronic conditions.

The number of people aged 80 years or older receiving long-term care in the Netherlands increased by 28,062 (+3.22 percent) since the previous year. With 900,679, the number thereby reached its highest value in the observed period. Notably, the number continuously increased over the last years.Find more statistics on other topics about the Netherlands with key insights such as average number of contacts with a general practitioner and expenditure on hospitals and medical specialists.

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Long-Term Care Market Size 2024-2028

The long-term care market size is forecast to increase by USD 394.8 billion at a CAGR of 3.21% between 2023 and 2028. The market is undergoing substantial growth due to several key factors. The aging population is driving demand for LTC services as more individuals require assistance with daily living activities. Governments are increasing healthcare budgets to address this need, leading to more funding for LTC initiatives. Additionally, there is a growing emphasis on preventing infections and ensuring patient safety, which is further boosting market growth. Innovative solutions and advancements in technology are playing a significant role in the market's expansion. Companies are prioritizing sustainability and operational efficiency to remain competitive. These shifts towards more efficient systems, better accessibility, and higher industry standards are influencing the market's direction and supporting long-term growth. The market is evolving to meet the growing demand for advanced solutions. This includes the development of telehealth services, remote patient monitoring technologies, and other digital health solutions. These innovations are expanding the market's scope and ensuring its continued evolution.

What will be the size of the Long-Term Care Market during the forecast period?

Request Free Long-Term Care (Ltc) Market Sample

Long-Term Care Market Segmentation

The LTC market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

Type

  Government
  Public and private players
  Out of the pocket
  Private insurance


Application

  Nursing care and assisted living facilities
  Home healthcare
  Hospice


Geography

  North America

    US


  Europe

    Germany
    France


  APAC

    China
    Japan


  South America



  Middle East and Africa

Which is the largest segment driving market growth?

The government segment is estimated to witness significant growth during the forecast period.

Long-term care (LTC) refers to services and support provided to individuals with chronic illnesses or disabilities, primarily for the elderly population. Chronic diseases, including osteoporosis, hypertension, diabetes, cancer, Alzheimer's, and dementia, are prevalent among this demographic. LTC encompasses various services such as nursing care, home healthcare, assisted living facilities, adult daycare, hospice, and palliative care. Governments play a significant role in funding and regulating LTC services, ensuring competent nursing staff and quality care. Unmet needs in LTC are substantial, with many individuals relying on informal caregivers, such as family members, partners, friends, and neighbors. The elderly population, with its increasing life expectancy, requires comprehensive LTC solutions, addressing both physical and mental illnesses.

Healthcare providers are integrating technologies like durable medical devices, walkers, wheelchairs, safety blankets, internet-enabled monitoring, telemedicine, and mobile health apps to enhance LTC delivery. The nursing home sector, with stringent regulations, focuses on patient safety, standards, and emerging alternatives. Commercial insurers and governments collaborate to address the financial burden of LTC, offering various coverage options to the target demographic.

Get a glance at the market share of various regions. Download the PDF Sample

The Government segment was valued at USD 1,207 billion in 2018 and showed a gradual increase during the forecast period.

Which region is leading the market?

APAC is estimated to contribute 33% to the growth of the global Long-Term Care market during the forecast period.

For more insights on the market share of various regions, Request Free Sample

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.The market in North America is experiencing significant growth due to the expanding geriatric population, increasing prevalence of chronic diseases such as osteoporosis, hypertension, diabetes, and mental illnesses, and the rising demand for home healthcare services. The US, in particular, is a major contributor to this market, given its large elderly population and high disposable income. The LTC sector includes various facilities and services, including nursing homes, assisted living facilities, adult daycare, hospice, and home health care. These services cater to the multifaceted needs of the chronically ill, disabled, and older population, offering nursing care, medication management, basic health services, and counseling services.

The LTC market is subject to stringent regulations to ensure competent nursing staff, quality of care, and pa

Forecast: Number of Long-Term Care Beds in the US 2024 - 2028 Discover more data with ReportLinker!

In 2023, the annual median cost for long-term care in the United States ranged from 24,700 to 116,800 U.S. dollars, depending on the type of service. Long-term health care can be provided in various environments such as nursing homes, community and assisted living facilities, or at-home care. Nursing homes, community, and assisted living facilities in the U.S. The most expensive long-term care services in the U.S. was nursing homes. In the U.S., the annual cost for a semi-private room in a nursing home stood at 104,025 U.S. dollars. With an annual cost of 54,200 U.S dollars, a single bedroom in an assisted living facility was cheaper than a nursing home. However, from one state to another, the cost of a room in a nursing home varied greatly. For instance, a semi-private room in an Alaskan nursing home nearly reached 224,500 U.S. dollars in 2023. Home care services Instead of moving into a nursing home or retirement residence, care at home is often the more preferred option. Home care services typically include either home health aide or homemaker services. In 2023, the annual cost of homemaker services reached an average of 68,640 U.S. dollars, whereas the cost for home health aide services was roughly 75,500 U.S. dollars. As with nursing homes, the cost for in-home care services such as homemaker services varied greatly depending on the State. In Washington, the annual cost for homemaker services reached 99,528 U.S. dollars in 2023.

The Department of Health Care Services (DHCS) Long-Term Services and Supports (LTSS) Data Dashboard is an initiative of the Home and Community Based Services Spending Plan. The initiative's primary goal is to create a public-facing LTSS data dashboard to track demographic, utilization, quality, and cost data related to LTSS services. This dashboard will link statewide long-term care and home and community-based services (HCBS) data with the goal of increased transparency to make it possible for regulators, policymakers, and the public to be informed while the state continues to expand, enhance, and improve the quality of LTSS in all home, community, and congregate settings.

The first iteration of the LTSS Dashboard was released in December 2022 as an Open Data Portal file with 40 measures pertaining to LTSS beneficiaries, which includes ten different demographics, plan-related dimensions, and dual stratification. The December 2023 Data Release includes 16 new measures on the Medi-Cal LTSS Dashboard and Open Data Portal (Select “View Underlying Data”); and additional measures and dimensions, including dual stratification, will be added to the Open Data Portal in 2024.

Note: The LTSS Dashboard measures are based on certified eligible beneficiaries who were enrolled in Medi-Cal for one or more months during the reporting interval. Most of the DHCS LTSS dashboard measures report the annual number of certified eligible Medi-Cal beneficiaries who have used LTSS services within a year. Other departments may report on these programs differently. For example, the Department of Social Services (CDSS) reports monthly IHSS recipient/consumer counts. The California Department of Aging (CDA) reports monthly CBAS Medi-Cal participants. DHCS’ annual utilization / enrollment counts of IHSS and CBAS beneficiaries are larger than CDSS/CDA's monthly counts because of data source differences and new enrollment or program attrition over time. Monthly snap-shot measures (average monthly utilization) for IHSS and CBAS have been added to the LTSS Dashboard to align with CDSS and CDA monthly reporting.

Refer to the LTSS-Dashboard (ca.gov) program page for: 1) a Fact Sheet with highlights from the initial data release including changes over time in use of Home and Community-Based Services as well as select demographic information; 2) the Measure Specifications document – that describes business rules and inclusion/exclusion criteria related to age groups, plan types, aid code, geographic, or other important program/waiver-specific eligibility criteria; and 3) User guide – that shows how to navigate the Open Data Portal data file with specific examples.

Forecast: Healthcare Expenditure on Residential Long-Term Care Facilities in France 2024 - 2028 Discover more data with ReportLinker!

The number of primary insured people in Japan's long-term care insurance system reached around 35.9 million in 2024. Primary insured people in the long-term care insurance system are aged 65 and older. Every citizen over 40 years old in Japan is required to get long-term care insurance. About 80 to 90 percent of costs for nursing care or support services for daily activities are covered by insurance.

Forecast: Healthcare Expenditure on Residential Long-Term Care Facilities in Denmark 2024 - 2028 Discover more data with ReportLinker!

In 2024, the market value of the global long-term care (LTC) market was forecast to reach 1,253.9 billion U.S. dollars, up from an estimated value of 1,100.7 billion dollars in 2022. By 2032, the LTC market worldwide is expected to reach nearly 2.2 trillion U.S. dollars.

Submitted data as of the week ending 01/05/2025.

The Nursing Home COVID-19 Public File includes data reported by nursing homes to the CDC’s National Healthcare Safety Network (NHSN) Long Term Care Facility (LTCF) COVID-19 Module. For resources and ways to explore and visualize the data, please see the links to the left, as well as the buttons at the top of the page.

Up to Date with COVID-19 Vaccines

On January 1, 2024, the Centers for Disease Control (CDC) changed the way it collects data to calculate the percent of staff who are up to date with their COVID-19 vaccination. It may take facilities some time to adapt to the new methodology. As a result, the reported percent of staff who are up to date with their COVID-19 vaccination should be viewed with caution over the next few weeks. Contact facilities directly for more information on their vaccination levels.

In the fiscal year 2021, the total amount of expenses for the long-term care insurance (LTCI) system in Japan reached around 11.28 trillion Japanese yen. The budget for the system in fiscal 2024 was raised to approximately 14.24 trillion Japanese yen.