Market Analysis - Journal of Intensive and Critical Care Nursing (2019) Volume 2, Issue 3
Nursing Congress 2020 Market AnalysisUmesh Prabhu
Designation: Medical Director of Bury NHS Trust, Department: Nursing, University: Senior Lecturer at Edgehill University, Country: United Kingdom, E-mail: [email protected]
Nursing care incorporates individuals who require escalated rehabilitative care, for example, individuals with physical incapacities and long-haul care. Nursing care helps in conveying the right care to ideal individuals at a perfect time. Nursing care gives the idea of value healthcare patients. Legitimate nursing care gives fulfilment to the patients and in this manner helps in making them solid to doctor's facilities. Nursing care is a long haul care plan and incorporates nursing homes, home care, hospital care and helped to live. Nursing care generally includes group of nurses, nursing staff care and patient care. The main facts about nursing are the customized care through a similar attendant all through the period. Dynamic patient care is an orderly gathering of the patient based on the level of disease instead of based on a restorative claim to fame. Consumerism, Staff blend, human improvement, financial aspects, different populaces, governmental issues, innovation, and customer keenness are a portion of the vital components which ought to be considered in nursing care.
As per the Market Report 2019 of Nursing Care Global the strategists, marketers that are provided by the Business Research Company and senior management with the critical information they need to assess the global nursing care market.
As per the Growth in the market care of nursing it resulted to rapid growth in the size of the elderly population, the periodic strong economic growth in emerging markets, it also resulted in the changes in social patterns, and health insurance reforms. The main factors as of that in negatively that affected the growth in the historic period are as follows.
• The low healthcare access in some countries
• The shortages of skilled human resources
• Because of lack of insurance coverage
• The weak wage growth in developed economies.
Though North America is one of the largest markets for nursing care sector that accounts for 38.8% of the global market. This market analytics was followed first by Western Europe, Asia-Pacific and then the other regions. As Going forward, towards the Middle East and the Asia-Pacific it will be found that these are the fastest growing regions in this market, where growth will be at CAGRs of 15% and 14.6% respectively. And by this chain system these all market care related to Nursing Care will be followed by Africa and South America and it seems that the markets are expected to grow at CAGRs of 13.9% and 11.2% respectively.
Nursing Care Market Drivers
The Key driver related to nursing care market includes.
Changes In Social Patterns
Though the changes in the sector of social attitudes such as split of joint families into nuclear families and the rapid increment in the female labour participation increase the demand for home health care and residential nursing care. All these trends particular results in a shortage of the informal caretakers for elderly and disabled people and increased the demand for home health care and residential nursing care.
Nursing Care Market Trends
The Major trends that are influencing the nursing care market include:
IoT Driving Home Healthcare Market
In this trend many home health care companies are implementing IoT (internet of things) solutions so as to monitor as well as to track the health issue of chronically ill and the geriatric patients. The need for adopting these tools is to deliver the better quality service to infected patients. By the help of this technology it enables to supply the home care service to the patients’and to track their health issue and to manage their health from remote areas without a physical appointment with the doctor.
The organisation related to health care i.e. WHO, has done an estimation that globally there are 9.2 million physicians, the number of nurses and midwives is 19.4 million, The dentists counts to be 1.9 million and regarding to the other pharmacists it is of around 2.6 million all together making the health care industry as one of the largest segments of the workforce.
Opportunities and Recommendations In The Nursing Care Market
The opportunity in the Nursing care market-trend-based on the strategies that includes:
• The launch of integrated care services.
• Implementation of remote patient monitoring and health management programs,
• The launch of custom-care packages in the remote areas.
• It also includes the expansion through mergers, acquisitions as well as the construction of new medical centres.
North America pursued by Europe is overwhelming the high-quality nursing care advertise because of high healthcare uses. The U.S. is overwhelming the North American nursing care showcase because of expanding pervasiveness of infections. Asia is relied upon to indicate high development rate in the following five years. A portion of the key main thrusts for nursing care showcase in developing nations are expanding maturing populace and expanding the number of healing facilities.
In recent time there is an increased demand for nursing care due to rising aging population. Rising concern for better organizing and the increasing prevalence of various diseases such as diabetes and cancer are some of the key factors driving the growth of the global nursing care market. Though healthcare awareness and clinical care system is the main reason for the growth of global nursing care market. However, the lack of reimbursements for nursing care and the high cost of healthcare is restraining the growth of the global nursing care market. The lack of skilled professionals impacts to decrease in the global nursing care market.
The rise in personalized care would develop an opportunity for the growth of the global nursing care market. However, lack of proper healthcare system in rural areas and the availability of less number of trained nurses are some of the key challenges for the growth of the global nursing care market.
Typically, nursing homes and gerontology utilize the foremost Medicaid bucks except for a far smaller population whereas health care reform is associate current issue, the distinctive desires of kids got to be enclosed.
Though the increment of home care basically trends for the global nursing care market. Here come the names of some major companies operating in the global nursing care market.
• Emeritus Corporation,
• Genesis Healthcare,
• Life Care Centres for America,
• Kindred Healthcare and Extendicare..
Key geographies evaluated in this report are:.
France, Germany, Italy, Spain, and the UK