The Europe long-term care market is estimated to record a solid CAGR of 7.5% during the forecast period (2021-2027). The rising awareness of long-term care as an effective treatment option for many diseases, coupled with improved healthcare infrastructure and various favorable guidelines are driving the growth of the long-term care market in the region. The UK, France, Germany, Italy, Spain, and the Netherlands, are the major revenue generators in the region. There have been notable imbalances and shortages of HCPs in almost every state of the European Union (EU) member state. According to the WHO, even around 10% of growth in the healthcare workforce during the last ten years is also not enough to meet the rising healthcare needs. In such a scenario, long-term health can significantly improve access to healthcare and the quality of medical services for the people in the region, widening geographical coverage with virtual consultations, with a comparatively smaller number of healthcare facility locations.
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Further, Germany is projected to be the largest European market for long-term care. The rising geriatric population and government initiatives are the major factors driving the growth of the German market. As per the data published by the World Bank in 2019, 21.6% of the total population was aged 65 years and above, and the number is expected to increase in the coming years. In 2015-2017, the German government comprehensively modernized its Long-term Care Insurance (LTCI) by implementing three so-called ‘Long-term Care Strengthening Acts’, which triggered an increased LTCI spending of more than €5 billion (~$5.6 billion) (+20%) per year.
Market Coverage
- Market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered- by Service Type and Point of Care
- Countries Covered- UK, Germany, France, Italy, Spain, and Rest of Europe
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A full Report of Europe Long-Term Care Market is Available at: https://www.omrglobal.com/industry-reports/europe-long-term-care-market
Global Long-Term Care Market Report Segment
By Type
- Medical Services
- In-House Therapy
- Skilled Nursing
- Others
Assisted Living Services
By Point of Care
- Homecare
- Hospitals (Rehabilitation Center)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
