IMARC Group, a leading market research company, has recently releases report titled “Skilled Nursing Facility Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global skilled nursing facility market trends, share, size, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the skilled nursing facility market?

The global skilled nursing facility market size reached US$ 328.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 516.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.74% during 2023-2028.

What are the growth prospects and trends in the skilled nursing facility industry?

The skilled nursing facility market is driven by the aging population and the growing prevalence of chronic diseases. As life expectancy rises and medical advancements improve, more individuals require long-term care for chronic conditions such as dementia, cardiovascular diseases, and respiratory disorders. Moreover, the rising focus on person-centered care and individualized treatment plans is supporting the market as recognizing that each resident has unique needs and preferences, skilled nursing facilities strive to provide personalized care that promotes autonomy, dignity, and social engagement. Besides, providers are investing in staff training and development to ensure a skilled workforce capable of delivering high-quality care, thus fuelling the market. Additionally, collaborating with healthcare networks, insurance providers, and community organizations can help establish referral networks and strengthen relationships within the healthcare ecosystem.

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What is Skilled Nursing Facility?

A Skilled Nursing Facility (SNF) is a specialized healthcare institution that provides comprehensive, round-the-clock nursing care to individuals who require intensive medical supervision and assistance. These facilities cater to patients who are recovering from surgery, managing chronic illnesses, or undergoing rehabilitation. SNFs are staffed with highly trained healthcare professionals, including registered nurses, practical nurses, and licensed and certified nursing assistants, who deliver personalized care to meet each patient’s specific needs. They offer a wide range of medical services, including medication management, wound care, physical therapy, occupational therapy, and speech therapy. These facilities also aid with activities of daily living, such as bathing, dressing, and eating, for individuals who are unable to perform these tasks independently. They prioritize the safety, comfort, and overall well-being of residents, aiming to improve their functional abilities and promote optimal recovery.

What is included in market segmentation?

The report has segmented the market into the following categories:

Market Breakup by Facility Type:

• Freestanding
• Hospital

Market Breakup by Service Type:

• Intensive Rehabilitation Therapy
• Low and Medium Rehabilitation
• Medically Complex

Market Breakup by Ownership Type:

• Non-Profit
• For-Profit
• Government

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

• Brookdale Senior Living Inc.
• Extendicare Inc.
• Genesis HealthCare
• Life Care Centers of America Inc.
• Lincare Holdings Inc. (Linde plc)
• ProMedica Health System Inc.
• SavaSeniorCare Administrative Services LLC
• Sunrise Senior Living (Red Fox Holding Corporation)
• The Ensign Group Inc

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