Long Term Care Market To Reach $1,255.9 Billion By 2024: Grand View Research, Inc.
The global Long Term Care (LTC) market is expected to reach USD 1,255.9 billion by 2024, according to a new report by Grand View Research, Inc. The market is expected to boom owing to the increasing awareness of people about the different home healthcare facilities, the increasing medical coverage for home healthcare, and the increasing aging population. In October 2015, there were around 12 million people receiving home healthcare and the number is expected to increase dramatically. Moreover, according to the U.S. Census Bureau, the population aged 65 and older is expected to reach 84 million by 2050 as against 43.1 million in 2012. Moreover, there has been a shift to in-home care from long term care. The nursing homes have shrunk by 350 over the past six years, while the in-home nursing programs have doubled. U.S. Long Term Care market, by service, 2013 - 2024 (USD Billion) Browse full research report on Long Term Care Market Furthe...