Market Analysis - Journal of Primary Care and General Practice (2019) Volume 2, Issue 2
Market Analysis Content for Family Nursing & Health Care
Health Care Market Statistics:
The health care market estimated in$12.09 trillion in 2019 and is projected to soar to $7.57 trillion in 2019. The healthcare market in the U.S. in 2019.in this involved the major groups of hospital care ($252.9 billion), physician and clinical facilities ($918.5 billion), dental services ($322.4 billion) and prescription medicines ($490.7 billion), along with nursing home and home health care ($448.5 billion).
Why Czech Republic?
The Czech Republic has a long tradition of high-quality research and education, particularly in the field of science, engineering, Pharma and medicine. Education system in the Czech Republic is compulsory for 9 years while the average number of years of education is 13.1. Students from all over the world are drawn to the Czech Republic for its excellent education system. Czech universities are among some of the most popular in the world, approximately 311,000 students, 43,000 of which are international students. And, it has a relatively equal educational system in comparison with other countries in Europe.
Nursing Care Market Size:
The global nursing care market reached a value of nearly $1250 billion in 2019, having grown at a compound annual growth rate (CAGR) of more than 16% since 2019.
Rapid growth in the nursing care market will increase the size of the elderly population, strong economic growth in emerging markets, changes in social patterns, and health insurance reforms.
Nursing Care Market Drivers”
The Key driver of the nursing care market include:
Changes in Social Patterns – Changes in social attitudes such as split of joint families into nuclear families and increase in the female labour participation increased the demand for home health care and residential nursing care.
The fragmentation of the traditional large family groups into small family units reduced the number of people who could provide care to dependent family members. The same was a result of the increase in the female labour market participation rate. These trends resulted in a shortage of informal caretakers for elderly and disabled people and increased the demand for home health care and residential nursing care.
Nursing Care Market Restraints:
The key restraints on the nursing care market include:
Shortage of Skilled Human Resources – The nursing care market is expected to be limited by a shortage of trained doctors, consultants, nurses and caregivers in both developed and developing countries. Developing countries face a high shortage of healthcare professionals as demand for nursing care rises.
For example, according to the World Health Organization (WHO), as of 2019, there was a shortage of around 7.3 million workers in the global healthcare workforce, which included nurses and community healthcare workers
Nursing Care Market Trends:
Major trends influencing the nursing care market include:
Driving Home Healthcare Market:
They are adopting these tools to deliver better quality service to patients. Qualcomm and Philips IoT application reduces readmission costs.
Care Providers Opting Custom-Care Packages:
Uptake of custom-care packages has increased in the recent past. Custom packages offer a high degree of flexibility of services. A wide range of custom-care packages are being provided by home health and residential nursing care service providers.
Opportunities and Recommendations in the Nursing Care Market
The great opportunities in the global nursing care market will arise in the nursing care facilities segment which will gain $126.1 billion of global annual sales by 2022. The nursing care market size will gain the profit in the USA.
Nursing Care Market Segmentation:
The Nursing Care market is segmented by specialty, by end user gender, by expenditure and by geography.
The nursing care market can be segmented by service type into
• Home Health Care Providers
• Nursing Care Facilities
• Group Care Homes
• Retirement Communities
Retirement communities had the highest growth rate of nearly
12% during the historic period.
Growth has accelerated in both the segments of the global
nursing care market by end-user gender.
The nursing care market can be segmented by type of
a) Public Expenditure
b) Private Expenditure
Geographical Areas of Nursing care:
• Asia Pacific
• Eastern Europe
• South America
• Middle East
Major Competitors are for Nursing:
• Genesis Healthcare
• Kaiser Permanente
• Brookdale Senior Living
• Kindred Healthcare
• The Ensign Group, Inc.
Other Competitors Include:
• Encompass home health
• Brookdale Senior Living
• Memorial Sloan Kettering
• ParaMed Home Health Care
• CBI Health Group Inc.
• Almost Family
• Trinity Health
• Mexicos’ Ambercare
• Basin Home Health and Hospice
• Costa Blanca Care Agency
• Angels Nursing Care
• Manorcourt Homecare
• Able Community Care Ltd
• Care UK
List of Universities in Czech Republic:
• Charles University in Prague
• Masaryk University
• Czech Technical University in Prague
• University of South Bohemia České Budějovice
• Palacký University Olomouc
• Anglo-American University
• Brno University of Technology
• VŠB - Technical University of Ostrava
• University of Chemistry and Technology, Prague
• University of New York in Prague
• Czech University of Life Sciences Prague
• Mendel University in Brno
• Faculty of Medicine Masaryk University
• University of Pardubice
Prague, Czech Republic