U.S. Long Term Care Market Share, Size and Development Trends of Analysis Report 2030
U.S. Long Term Care Industry Overview The U.S. long term care market size was valued at around USD 467.3 billion in 2021 and is expected to register a CAGR of 5.97% in the forecast period. Demand for long-term care (LTC) has increased owing to the recognition of unmet needs of the elderly which are not fulfilled by hospital settings. According to estimates of the U.S. Department of Health and Human Services (HHS), around 69% of the U.S. population is expected to use long-term care services in their lives for an average of about three years, thus impelling their demand in the forthcoming times. High geriatric population in the U.S. is rapidly rising due to increased life expectancy. In 2020, around 73 million adults in the U.S. were aged 65 and above, accounting for 16.5% of the country’s population as per the U.S. Census Bureau. The geriatric population in the U.S. has a high prevalence of chronic diseases driving the market. For instance, as per the Alzheimer’s Associati...