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U.S. Skilled Nursing Facility Market

Market Insights on U.S. Skilled Nursing Facility covering sales outlook, demand forecast & up-to-date key trends

U.S. Skilled Nursing Facility Market by Ownership, Type & Region - Forecast 2022 - 2032

U.S. Skilled Nursing Facility Market Outlook (2022-2032)

[342 Pages Report] The U.S. skilled nursing facility market has been valued at US $ 181.74 billion for 2022 and is expected to grow at a CAGR of 3.32% from 2022 to 2032, anticipated to be valued at US $ 251.94 billion by 2032.

Skilled nursing facilities offer high-quality care at a much lower cost than hospitals, resulting in high demand for U.S. skilled nursing facility. The United States' growing geriatric population and high prevalence of multiple chronic diseases are driving U.S. skilled nursing facility market growth and U.S. skilled nursing facility adoption trends.

The geriatric population over the age of 65 increased by 9%, with 14.3 million adults over the age of 65 suffering from chronic disease and requiring skilled nursing facilities in the United States. The availability of Medicare and Medicaid, as well as emerging technologies will drive the U.S. skilled nursing facility market future trends in the coming years.

As the elderly population in the United States has grown, the prevalence of rising chronic diseases like diabetes, paralysis, hypertension, etc. has significantly increased the demand for U.S. skilled nursing facilities.

The COVID-19 pandemic had a negative impact on the U.S. skilled nursing facility market. Since U.S. skilled nursing facilities were COVID-19 hotspots, adoption of U.S. skilled nursing facilities was restricted.

Following the COVID outbreak, skilled nursing facility center in the United States installed wireless videoconferencing technologies to protect patients and staff from infection. Patients in skilled nursing facilities have access to the internet in their rooms, allowing them to communicate with friends, family, and staff.

The majority of skilled nursing facilities are nursing homes that offer long-term care services that are not covered by Medicare. As a result, the availability of reimbursement and favourable investment returns are driving U.S. skilled nursing facility market growth.

According to the American Heart Association, cardiovascular disease is the leading cause of death for both men and women, with 82.6 million adults in the United States suffering from one or more conditions related to heart.

Attributes

Details

U.S. Skilled Nursing Facility Market Expected CAGR (2022-2032)

3.32%

U.S. Skilled Nursing Facility Market Size (2022)

US $ 181.74 billion

U.S. Skilled Nursing Facility Anticipated Market Size (2032)

US $ 251.94 billion

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What Is Propelling The Growth Of U.S. Skilled Nursing Facility Market?

The rise in the geriatric population, combined with an increase in chronic diseases and age-related diseases is driving the U.S. skilled nursing facility market growth. Skilled nursing is a type of facility that provides 24-hour care to those who are unable to live independently. Trained medical professionals provide specialised care to seniors with severe illnesses or injuries in skilled nursing facilities, thereby expanding the U.S. skilled nursing facility market.

Residents are assisted with daily activities such as bathing, eating, laundry, and housekeeping by specially trained staff. They may specialise in long-term skilled nursing facility, intermediate care, or short-term or acute nursing care, thereby surging the usage of U.S. skilled nursing facility.

Furthermore, when compared to hospitals, skilled nursing facilities (SNFs) provide high-quality care at a much lower cost, resulting in high demand for U.S. skilled nursing facility. The rising cases of chronic diseases in the United States, combined with an ageing population, is fuelling the U.S. skilled nursing facility market expansion.

For beneficiaries who meet the requirements for a covered stay, Medicare covers the entire amount for the first 20 days of the illness. From the twenty-first day of the covered stay until the hundredth day, the beneficiary is responsible for the self-payment. The co-payment for the fiscal year 2021 was USD 185.50 per day.

Despite several drivers, the high costs of skilled nursing facilities, combined with low acceptance of these services, limits the U.S. skilled nursing facility market growth to some extent. Furthermore, the institution of joint family, as well as social stigma associated with nursing homes will be some of the major challenges confronting the U.S. skilled nursing facility market.

What Are The Trends In The U.S. Skilled Nursing Facility Market?

One of the key factors driving the U.S. skilled nursing facility market growth is the increasing number of Alzheimer's patients, as well as the high incidence of dementia, a common form of Alzheimer's.

The ongoing research indicates that an increase in conditions such as diabetes, stroke, high blood pressure, and other lifestyle related diseases has resulted in an increase in Alzheimer's, driving the U.S. skilled nursing facility market trends. A total of 2 million Medicare-eligible stays or about 1.5 million fee-for-service (FFS) beneficiaries and 4% of all FFS beneficiaries were provided in 2019 by about 15,000 SNFs.

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Comparative View Of Adjacent U.S. Skilled Nursing Facility Market

U.S. Skilled Nursing Facility Market:

Attributes

U.S. Skilled Nursing Facility Market

CAGR (2022-2032)

3.32%

Market Value (2027)

USD 213.98 billion

Growth Factor

Incidences of various chronic diseases are on the rise.

Opportunity

The availability of reimbursement and favourable investment returns are driving U.S. skilled nursing facility market growth.

Key Trends

Better infrastructure, as well as superior communication and coordination in hospitals assist nursing facilities in improving services based on patient needs.

U.S. Care Services Market:

Attributes

U.S. Care Services Market

CAGR (2022-2032)

5.76%

Market Value (2027)

USD 638.95 billion

Growth Factor

The younger population's growing need for nursing homes.

Opportunity

The quick development and adoption of care services using technology.

Key Trends

The demand for services is being driven by AI-based therapeutic and monitoring devices.

U.S. Home Healthcare Services Market:

Attributes

U.S. Home Healthcare Services Market

CAGR (2022-2032)

7.1%

Market Value (2027)

USD 164.62 billion

Growth Factor

The introduction of cutting-edge payment models by the government.

Opportunity

Due to important factors like the high geriatric population and their preference to age at home rather than in a medical facility, home healthcare services are currently in high demand.

Key Trends

Alzheimer's disease is one of the main causes for the need of home healthcare services in the United States (AD).

Which Is The Leading Segment In The U.S. Skilled Nursing Facility Market By Ownership?

Based on ownership, the U.S. skilled nursing facility market has been divided into three groups: for-profit facilities, non-profit facilities, and government facilities. In 2022, the U.S. skilled nursing facility market was dominated by the for-profit sector.

For-profit businesses can offer incentives to operate at a lower cost than non-profit organisations by concentrating on maximising the return-on-investment capital resulting in the boost of the demand for U.S. skilled nursing facility market.

According to estimates, during the forecast period, non-profit skilled nursing facility will experience the fastest growth. This is because older people are being served at much lower or minimal cost by improving service, hiring more people, and reinvesting the revenue generated.

Non-profit nursing homes speed up U.S. skilled nursing facility market growth and U.S. skilled nursing facility market opportunities by providing advantages like lower rates of bedsores, ulcer prevalence, hospitalisation, and shortages caused by the government, as well as higher staffing ratios.

The government skilled nursing facilities had a lower U.S. skilled nursing facility market share than for-profit and non-profit facilities. This could be due to poor care quality or a lack of compensation. The U.S. skilled nursing facility market growth of government nursing facilities is driven by high staff ratings in comparison to for-profit housing.

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Which Is The Leading Segment In The U.S. Skilled Nursing Facility Market By Type?

The U.S. skilled nursing facility market is divided into two types: freestanding and hospital. The most affordable type of facility that offers 24-hour service is freestanding. High Medicare payments are a major U.S. skilled nursing facility market growth driver in this segment. Increased Medicare spending is expected to fuel U.S. skilled nursing facility market growth for freestanding facilities.

In contrast, the hospital skilled nursing facility segment is expected to grow significantly during the forecast period. Through the collaboration of hospitals and their skilled nursing facilities, hospital-based nursing facilities provide better professional nursing services. Better infrastructure, as well as superior communication and coordination in hospitals, assist skilled nursing facilities in improving services based on patient needs.

Hospital skilled nursing facilities have seen an increase in medically complex hospitalizations, but their daily costs have risen due to an increase in qualified staff and shorter stays. Moving the patient to the skilled nursing facilities bed allows hospitals to reduce the inpatient's length of stay (LOS), freeing up the inpatient's bed for additional inpatient treatment, thereby surging the adoption of U.S. skilled nursing facility market.

How Has The Competition Influenced The U.S. Skilled Nursing Facility Market?

The U.S. skilled nursing facility market is fragmented due to the presence of several local businesses. Businesses are also expanding their service portfolios. They are also concerned with keeping their prices competitive.

Some of the key market players are: Life Care Services; Golden Living Centres; Life Care Centres of America Corporate; Peninsula Behavioral Health; Sava Senior Care Administrative Services LLC; Lincare, Inc. Genesis Healthcare; Brookdale Senior Living Solutions; The Ensign Group; Inc; Extendicare; Sunrise Senior Living; LLC; Life Care Services; Golden Living Centres; Life Care Centres of America Corporate; Peninsula Behavioral Health; Sava Senior Care Administrative Services LLC; Lincare, Inc.

These players in the US skilled nursing facility market are constantly working on new product development, employing various strategies such as mergers and acquisitions, partnerships, collaborations, and more.

Recent Development:

Acquisition:

  • Amedisys announced the acquisition of Contessa Health, a leading hospital and skilled care facility company, in June 2021. The company hopes to expand its home care capabilities through this acquisition by adding more advanced acute care home hospitals and skilled home care facilities with advanced analytics platforms and expanding network management.
  • In December 2020, The Ensign Group, Inc. purchased Hays Nursing and Rehabilitation Center, a 116-bed skilled nursing facility in Texas.

Expansion:

  • Approximately 10,293 nursing facilities had received Paycheck Protection Program loans totaling approximately US $ 5.7 billion by March 2021. This programme was created as part of the CARES Act and was expanded by the Consolidated Appropriations Act, 2021, to help businesses retain employees during the pandemic.

Contract:

  • In February 2021, OMEGA Healthcare signed a US $ 150 million contract with HealthPeak Property to acquire Brookdale Senior Living in the United States.

Partnership:

  • Genesis Healthcare announced a real estate partnership with Next Health Capital in February 2019 that will involve 15 SNFs. This strategy will help the SNF expand its presence and cater to more patients.

How Is The Start-Up Ecosystem In The U.S. Skilled Nursing Facility Market?

Many new U.S. skilled nursing facility market opportunities are emerging as manufacturers invest in research and development to create more advanced U.S. skilled nursing facility solutions.

In November 2021, EnsignTM Group's parent company, Ensign Group, Inc., purchased properties in skilled and long-term care facilities in Arizona, California, and Kansas and invested in and provided skilled care and elderly living services, physiotherapy, vocational therapy, language therapy, other rehabilitation, and healthcare services.

Participants in the US skilled nursing facility market are concentrating their efforts on R&D. They pursue strategic U.S. skilled nursing facility market growth initiatives such as expansion, product launches, joint ventures, and partnerships in order to strengthen their U.S. skilled nursing facility market position and gain a large customer base.

Key Players

Key Segments

By Type:

  • Freestanding

  • Hospitals

By Ownership:

  • For-Profit

  • Non-Profit
  • Government

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Frequently Asked Questions

The U.S. skilled nursing facility market size is predicted to grow at 3.32% CAGR through 2032.

The U.S. skilled nursing facility market size is valued at USD 181.74 billion as on 2022.

The U.S. skilled nursing facility market share is expected to surpass USD 251.94 billion by 2032.

Some of the key drivers are: Increase in the geriatric population and quality service at lower costs compared to hospitals.

High costs and social stigma pertaining to US skilled nursing facility are the market restraints.

Table of Content

1. Executive Summary

    1.1. U.S. Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Investment Feasibility Matrix

    3.5. PESTLE and Porter’s Analysis

    3.6. Regulatory Landscape

4. U.S. Skilled Nursing Facility Market Analysis 2017-2021 and Forecast, 2022-2032

    4.1. Historical Market Size Value (US$ Mn) Analysis, 2017-2021

    4.2. Current and Future Market Size Value (US$ Mn) Projections, 2022-2032

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. U.S. Skilled Nursing Facility Market Analysis 2017-2021 and Forecast 2022-2032, By Type of Facility

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Mn) Analysis By Type of Facility, 2017-2021

    5.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Type of Facility, 2022-2032

        5.3.1. Freestanding

        5.3.2. Hospitals

    5.4. Y-o-Y Growth Trend Analysis By Type of Facility, 2017-2021

    5.5. Absolute $ Opportunity Analysis By Type of Facility, 2022-2032

6. U.S. Skilled Nursing Facility Market Analysis 2017-2021 and Forecast 2022-2032, By Ownership

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Mn) Analysis By Ownership, 2017-2021

    6.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Ownership, 2022-2032

        6.3.1. For-Profit

        6.3.2. Non-Profit

        6.3.3. Government

    6.4. Y-o-Y Growth Trend Analysis By Ownership, 2017-2021

    6.5. Absolute $ Opportunity Analysis By Ownership, 2022-2032

7. Key Countries Skilled Nursing Facility Market Analysis

    7.1. U.S.

        7.1.1. Pricing Analysis

        7.1.2. Market Share Analysis, 2021

            7.1.2.1. By Type of Facility

            7.1.2.2. By Ownership

8. Market Structure Analysis

    8.1. Competition Dashboard

    8.2. Competition Benchmarking

    8.3. Market Share Analysis of Top Players

        8.3.1. By Country

        8.3.2. By Type of Facility

        8.3.3. By Ownership

9. Competition Analysis

    9.1. Competition Deep Dive

        9.1.1. Genesis Healthcare

            9.1.1.1. Overview

            9.1.1.2. Product Portfolio

            9.1.1.3. Profitability by Market Segments

            9.1.1.4. Sales Footprint

            9.1.1.5. Strategy Overview

                9.1.1.5.1. Marketing Strategy

        9.1.2. Brookdale Senior Living Solutions

            9.1.2.1. Overview

            9.1.2.2. Product Portfolio

            9.1.2.3. Profitability by Market Segments

            9.1.2.4. Sales Footprint

            9.1.2.5. Strategy Overview

                9.1.2.5.1. Marketing Strategy

        9.1.3. Lincare, Inc.

            9.1.3.1. Overview

            9.1.3.2. Product Portfolio

            9.1.3.3. Profitability by Market Segments

            9.1.3.4. Sales Footprint

            9.1.3.5. Strategy Overview

                9.1.3.5.1. Marketing Strategy

        9.1.4. The Ensign Group, Inc

            9.1.4.1. Overview

            9.1.4.2. Product Portfolio

            9.1.4.3. Profitability by Market Segments

            9.1.4.4. Sales Footprint

            9.1.4.5. Strategy Overview

                9.1.4.5.1. Marketing Strategy

        9.1.5. Extendicare

            9.1.5.1. Overview

            9.1.5.2. Product Portfolio

            9.1.5.3. Profitability by Market Segments

            9.1.5.4. Sales Footprint

            9.1.5.5. Strategy Overview

                9.1.5.5.1. Marketing Strategy

        9.1.6. Sunrise Senior Living, LLC

            9.1.6.1. Overview

            9.1.6.2. Product Portfolio

            9.1.6.3. Profitability by Market Segments

            9.1.6.4. Sales Footprint

            9.1.6.5. Strategy Overview

                9.1.6.5.1. Marketing Strategy

        9.1.7. Life Care Services

            9.1.7.1. Overview

            9.1.7.2. Product Portfolio

            9.1.7.3. Profitability by Market Segments

            9.1.7.4. Sales Footprint

            9.1.7.5. Strategy Overview

                9.1.7.5.1. Marketing Strategy

        9.1.8. Golden Living Centers

            9.1.8.1. Overview

            9.1.8.2. Product Portfolio

            9.1.8.3. Profitability by Market Segments

            9.1.8.4. Sales Footprint

            9.1.8.5. Strategy Overview

                9.1.8.5.1. Marketing Strategy

        9.1.9. LifeCare Centers of America Corporate

            9.1.9.1. Overview

            9.1.9.2. Product Portfolio

            9.1.9.3. Profitability by Market Segments

            9.1.9.4. Sales Footprint

            9.1.9.5. Strategy Overview

                9.1.9.5.1. Marketing Strategy

        9.1.10. Peninsula behavioral health

            9.1.10.1. Overview

            9.1.10.2. Product Portfolio

            9.1.10.3. Profitability by Market Segments

            9.1.10.4. Sales Footprint

            9.1.10.5. Strategy Overview

                9.1.10.5.1. Marketing Strategy

        9.1.11. Sava Senior Care Administrative Services LLC

            9.1.11.1. Overview

            9.1.11.2. Product Portfolio

            9.1.11.3. Profitability by Market Segments

            9.1.11.4. Sales Footprint

            9.1.11.5. Strategy Overview

                9.1.11.5.1. Marketing Strategy

10. Assumptions & Acronyms Used

11. Research Methodology

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List of Tables

Table 01: U.S. Skilled Nursing Facility Market Value (US$ Mn) Forecast by Country, 2017-2032
Table 02: U.S. Skilled Nursing Facility Market Value (US$ Mn) Forecast by Type of Facility, 2017-2032
Table 03: U.S. Skilled Nursing Facility Market Value (US$ Mn) Forecast by Ownership, 2017-2032

Sabyasachi Ghosh
Principal Consultant
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List of Charts

Figure 01: U.S. Skilled Nursing Facility Market Value (US$ Mn) by Type of Facility, 2022-2032

Figure 02: U.S. Skilled Nursing Facility Market Value (US$ Mn) by Ownership, 2022-2032

Figure 03: U.S. Skilled Nursing Facility Market Value (US$ Mn) by Country, 2022-2032

Figure 04: U.S. Skilled Nursing Facility Market Value (US$ Mn) Analysis by Country, 2017-2032

Figure 05: U.S. Skilled Nursing Facility Market Value Share (%) and BPS Analysis by Country, 2022-2032

Figure 06: U.S. Skilled Nursing Facility Market Y-o-Y Growth (%) Projections by Country, 2022-2032

Figure 07: U.S. Skilled Nursing Facility Market Value (US$ Mn) Analysis by Type of Facility, 2017-2032

Figure 08: U.S. Skilled Nursing Facility Market Value Share (%) and BPS Analysis by Type of Facility, 2022-2032

Figure 09: U.S. Skilled Nursing Facility Market Y-o-Y Growth (%) Projections by Type of Facility, 2022-2032

Figure 10: U.S. Skilled Nursing Facility Market Value (US$ Mn) Analysis by Ownership, 2017-2032

Figure 11: U.S. Skilled Nursing Facility Market Value Share (%) and BPS Analysis by Ownership, 2022-2032

Figure 12: U.S. Skilled Nursing Facility Market Y-o-Y Growth (%) Projections by Ownership, 2022-2032

Figure 13: U.S. Skilled Nursing Facility Market Attractiveness by Type of Facility, 2022-2032

Figure 14: U.S. Skilled Nursing Facility Market Attractiveness by Ownership, 2022-2032

Figure 15: U.S. Skilled Nursing Facility Market Attractiveness by Country, 2022-2032

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