A new market research report by Transparency Market Research, titled “Skilled Nursing Care Services Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” encapsulates a comprehensive analysis of this market. This report also estimates the size and growth potential of the market, the key companies, and analyzes the market on the basis of a SWOT analysis. A comprehensive review of the market challenges, drivers, opportunities, and inhibitors has also been compiled in this study. An assessment of the major products in the market and their sales scope in forthcoming years also forms a key part of this report. The use of Porter’s five forces model aids businesses to plan development strategies in this market. An analysis of the market competition is aimed at encouraging strategic decision making by emerging players in the market for nursing care services.
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Skilled nursing care services are designed to offer short term as well as long term care for people who have serious or chronic diseases. These services provide inpatient nursing, living quarters, and rehabilitation services for individuals suffering from chronic ailments. Care is primarily provided for an extended time periods to people who need help in day-to-day activities. These services also include the dressing of post-operative wounds, monitoring of interventional medications, laundry services, educational and social activities, and assisting physical therapists.
According to the report, the key factors responsible for the growth of this market include the rising occurrence of chronic diseases such as Alzheimer’s and dementia globally. On the other hand, factors such as the soaring costs involved in using these services and social stigmas related to residential nursing care services may impede the growth of the market in the coming years.
In terms of type of connectivity, the report segments the market for skilled nursing care services on four fronts, namely, connected to assisted living community, connected to hospital, freestanding, and connected to both hospital and assisted living community.
Geographically, the report segments the market into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, North America led the global skilled care services market and is trailed by the region of Europe. The reason for the dominance of North America is the highly advanced healthcare infrastructure, the increasing awareness about skilled nursing care services, and a well-defined regulatory framework of this region. On the other hand, the Asia Pacific skilled nursing care services market is also a promising space for investors and market players. The reason for the dominance of this region is the enhancement of healthcare facilities, especially within China and India, owing to the rapidly developing medical tourism industry within these two nations.
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As per the report, the prominent players dominant in the market are ManorCare, Kindred Healthcare, National HealthCare Corporation, and Tyco International Limited, among others.
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