In-Depth Insights into the Private Nursing Services Market: Growth, Trends, and Opportunities for 2025-2034
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What Growth Opportunities are Expected to Drive the Private Nursing Services Market’s CAGR Through 2034?
There has been a robust expansion in the private nursing services market over the past few years. The size of the market is forecasted to surge from $550.23 billion in 2024 to $595.28 billion in 2025, marking a compound annual growth rate (CAGR) of 8.2%. Elements such as a rise in chronic diseases, a larger workforce, growing requirements for post-operative care, an increase in chronic care facilities, and a surge in obesity cases have played a crucial role in driving growth during the previous period.
Over the upcoming years, the private nursing services market is anticipated to experience robust growth, expanding to $807.07 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 7.9%. This predicted growth during the forecast period can be tied to various factors such as a rise in global surgeries, an aging demographic, escalating healthcare costs, a growing awareness of private nursing services, and an increased necessity for tailored care. Technological advancements, incorporation of telehealth, technology for home-based care, value-oriented care models, and machine learning form the significant trends during the forecast period.
What Factors Are Propelling the Growth of the Private Nursing Services Market from 2025 to 2034?
The escalating occurrence of chronic conditions is anticipated to boost the advancement of the private nursing services industry. The worldwide rise in such diseases can be attributed to aging populations, lifestyle changes, and environmental factors. Private nursing services provide persistent care, nurturing a robust nurse-patient bond that aids in effective management of chronic illnesses and enhances overall health results. For example, a report released in August 2022 by the American College of Cardiology, a US-based non-profit medical group, posits that all four major cardiovascular risk indicators in the US are predicted to escalate from 2025 to 2060. Diabetes is slated for the highest percentage increase, with a 39.3% rise to 55 million individuals, succeeded by dyslipidemia (27.6% to 126 million), hypertension (25.1% to 162 million), and obesity (18.3% to 126 million). Thus, the escalating occurrence of chronic conditions is acting as a catalyst for the growth of the private nursing services industry.
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What Are the Leading Industry Players Dominating the Private Nursing Services Market?
Major companies operating in the private nursing services market are:
• Trinity Health
• Memorial Sloan Kettering Cancer Center
• Kaiser Permanente
• Genesis Healthcare Inc.
• The Ensign Group Inc.
What Are the Latest Trends Leading to Disruption in the Private Nursing Services Market?
Prominent businesses within the private nursing services market are striving to stand out by innovating their services, such as those that offer medical care to children at both their homes and at school. This kind of medical care includes routine health assessments, immediate emergency attention, and collaboration with healthcare providers to manage chronic illnesses and ensure overall health. For example, Always Compassionate Home Care (ACHC), an American home health care service provider, publicly announced in March 2022 the establishment of its new pediatric nursing branch. The purpose of this branch is to deliver specialized medical care for children with complicated health conditions starting from birth until the age of 23. This initiative goes beyond conventional medical care, promising high-quality services specifically aimed to meet individual needs of children.
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What Are the Strategic Segments Comprising the Private Nursing Services Market and Their Growth Contributions?
The private nursing services market covered in this report is segmented –
1) By Service Type: Medical Care, Non-Medical Care
2) By Gender: Female, Male
3) By Medical Condition: Pediatric Care, Chronic Disease Management, Post Operative Services, Elderly Care, Other Medical Conditions
4) By Payment Model: Insurance Covered Services, Subscription Based Services, Fee For Service, Other Payment Models
Subsegments:
1) By Medical Care: Skilled Nursing Care, Post-Surgical Care, Wound Care Management, Medication Administration, Chronic Disease Management
2) By Non-Medical Care: Personal Care Assistance, Companionship Services, Housekeeping And Meal Preparation, Transportation Services, Respite Care
Which Regions Are Significant to the Growth of the Private Nursing Services Market?
North America was the largest region in the private nursing services market in 2024. The regions covered in the private nursing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Can We Define the Private Nursing Services Market and Its Key Components?
Private nursing services refer to private duty nursing and involve personalized healthcare provided by registered nurses (RNs) or licensed practical nurses (LPNs) in a home setting. This service is designed for individuals who require ongoing medical care but prefer to receive it in the comfort of their own homes rather than in a hospital or care facility.
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