Long Term Care Market outlook with industry review and forecasts

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Cognizance into Long Term Care Market and its
growth prospects
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Long Term Care Market

• Augmenting geriatric population and advancing
  medical technology have offered prolific growth
  opportunities to long term care market players.
  Long term care involves a multitude of services
  developed to cater to peoples care needs during
  a short or long period of time. Prevalence of
  several diseases, such as Alzheimer's, dementia,
  etc., will provide a considerable push to the
  growth of long-term care industry.
• According to a comprehensive report by Global
  Market Insights, Inc., long-term care market size
  is expected to exceed USD 1,500 billion by 2026.
  
• Facility-based long term care services help the
  elderly population with nursing homes and
  assisted or independent living facilities.
  Geriatric people needing specialized treatment
  are provided these services for an extended time
  period..

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Continued...

• Several old people suffering from trauma,
  infectious disease, and brain injury are likely
  to influence long term care industry trends. On
  that note, facility-based long term care services
  segment is expected to grow at a 6.5 CAGR over
  2020-2026.
• Based on the age group segment, long term care
  market is segmented into 65-74 years, 75-84
  years, and 85 older. Among these, in 2019,
  75-84 years segment accounted for around 35 of
  the overall long-term care industry share.
  Elderly population is becoming rather cognizant
  about long term care services. People falling
  between the age group of 75-84 years and
  afflicted with Alzheimer's, dementia, and other
  associated diseases are being benefitted from
  these services. People falling within the age
  bracket of more than 74 years are more
  susceptible to chronic disorders and disabilities
  caused due to a weak immune system, which will
  intensify the requirement for long term care
  centers services.

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Continued...

• Amplifying prevalence of Alzheimers, dementia
  and other associated disorders in the U.S. is
  likely to upsurge growth graph of long term care
  market in the region. North America houses a
  plethora of long term care service providers.
  Also, the U.S., being a developed nation, boasts
  of the development of advanced technologies. U.S.
  long term care industry is expected to register a
  CAGR of around 5 over 2020-2026.
• Increasing incidences of chronic diseases and
  growing need for long term care services have
  stimulated various business players to gain
  success in long term care market. The companies
  are outlaying huge amounts to expand their
  business and increase RoI. For example, in April
  2017, the senior living community segment of
  Brookdale Senior Living, Inc., invested around 5
  million for adding more assisted living
  apartments. This consists of 32 apartments for
  people suffering from Alzheimers and dementia.
  The investment was made to offer seniors a better
  service, care, and living accommodations.

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Continued...

• A few more notable long term care behemoths are
  Sunrise Senior Living, Brookdale Senior Living
  Solutions, Senior Care Centers, and EXTENDICARE
  among others.

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