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How has the skilled nursing facility market size evolved in recent years?

The skilled nursing facility market has seen strong expansion and is projected to grow from $335.73 billion in 2024 to $364.68 billion in 2025 at a CAGR of 8.6%. The market’s growth has been supported by stringent infection control measures, rising demand for short-term rehabilitation, integration of telehealth services, emphasis on personalized care plans, and the inclusion of mental health care in facility offerings.

What are the predictions for the skilled nursing facility market size in the coming years?

The skilled nursing facility market is projected to expand substantially, reaching $500.73 billion by 2029 at a CAGR of 8.2%. Growth is fueled by an increasing elderly population, rising chronic conditions, evolving healthcare regulations, and a growing preference for in-home care. Key trends include technological advancements, cost-effective treatment solutions, improved healthcare accessibility, new product launches, and innovative service developments.

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What key factors are fueling the growth of the skilled nursing facility market?

The prevalence of chronic diseases is expected to drive the growth of the skilled nursing facility market. Chronic diseases, which are long-lasting and manageable conditions, are rising due to factors like aging populations, unhealthy diets, and environmental factors. Skilled nursing facilities provide specialized care and long-term support for individuals with complex health needs, improving patient outcomes. For instance, in January 2023, the National Center for Biotechnology Information projected that the number of individuals aged 50 and above suffering from chronic conditions in the US would nearly double by 2050. Therefore, the increasing prevalence of chronic diseases is boosting the skilled nursing facility market.

How is the global skilled nursing facility market divided into key segments?

The skilled nursing facilitymarket covered in this report is segmented –

1) By Type: Freestanding, Hospital

2) By Ownership: For Profit, Non-Profit, Government

3) By Services Type: Intensive Rehabilitation Therapy, Low And Medium Rehabilitation, Medically Complex, Other Service Types

Subsegments:

1) Freestanding: Independent Skilled Nursing Facilities, Specialty Skilled Nursing Facilities, Transitional Care Units

2) Hospital: Acute Care Hospitals with Skilled Nursing Units, Rehabilitation Hospitals, Long-Term Acute Care Hospitals

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Who are the key firms paving the way for growth in the skilled nursing facility market?

Major companies operating in the skilled nursing facility market are Encompass Health Corporation, Genesis HealthCare Inc., Sunrise Senior Living LLC, Life Care Centers of America, The Ensign Group Inc., Brookdale Senior Living Solutions, LHC Group Inc., Saber Healthcare Group, Amedisys Inc., Sava SeniorCare LLC, Consulate Health Care, PruittHealth Corp., Signature HealthCARE LLC, National HealthCare Corporation, Extendicare, The Evangelical Lutheran Good Samaritan Society, Vibra Healthcare LLC, Diversicare Healthcare Services Inc., Trilogy Health Services LLC, ProMedica Senior Care, Life Care Companies LLC, Atrium Health & Senior Living, Golden Living, ManorCare Health Services, CommuniCare Health Centers

Which trends are expected to transform the skilled nursing facility market?

Leading businesses in the skilled nursing facility market are piloting advanced technologies like nursing facility sensors. These technologies aim to improve patient results, maximize staff productivity, and maintain adherence to regulations. The function of a nursing facility sensor is to keep track of and identify different health, safety, and well-being conditions or activities of the residents. For example, MOBOTIX AG, a Germany-based company specializing in intelligent IP video systems, and Kepler Vision Technologies, a Dutch company providing comprehensive software solutions, rolled out an intelligent sensor in November 2023 for hospital staff and care facilities. The sensor is built into the MOBOTIX c71 Hemispheric Indoor Camera, and the standout feature of Kepler’s software is its ability to accurately identify incidents like falls or residents leaving their beds, thus reducing false alarms to a great extent when compared to other automated systems. It improves care for the elderly, the sick, and those needing nursing assistance, while lessening the strain on staff resources and improving cost efficacy. The solution safeguards privacy by not keeping any images stored, only using them for recognizing critical incidents.

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What regions are contributing significantly to the growth of the skilled nursing facility market?

North America was the largest region in the skilled nursing facility market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the skilled nursing facility market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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