Global Private Nursing Services Market By Service (Retirement Communities, Group Care Homes, Nursing Care Facilities, Home Health Care Providers), By End-Users , By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032

Report Overview

The Global Private Nursing Services Market size is expected to be worth around USD 1179.3 Billion by 2033, from USD 609.7 Billion in 2023, growing at a CAGR of 7% during the forecast period from 2024 to 2033.

Private nursing services means the provision of medical care and assistance to individuals in their homes or non-hospital setting. Nurses with a Registered Nurse (RN) license or Licensed Practical Nurse (LPN) offer private nursing services. From professional service providers individuals can receive these services. This market has grown in recent years because of several factors including increasing population, advancement in medical technology, and rising demand for more personalized care.

The private nursing service market is expected to grow because of an increase in chronic disease and the number of nuclear families. People today favor living in nuclear households and it becomes the main reason behind the rise in the desire for private nursing services. During the pandemic, the COVID-19 virus spread rapidly, which had a remarkable impact on the market. However, Decline in the economy has hindered the establishment of new private nursing service projects all over the world.

Key Takeaways

• Market Size: Valued at USD 609.7 billion in 2022, projected to reach USD 1179 billion by 2032, growing at a CAGR of 7%.
• Aging Population: 13% of the global population is over 60 years, increasing demand for private nursing services.
• Chronic Diseases: Rising cases of chronic diseases necessitate long-term care, fueling market growth.
• Nuclear Families: Shift from joint families to nuclear families drives demand for personalized private nursing services.
• Pandemic Impact: COVID-19 increased the demand for private nursing services, especially during the pandemic.
• Rural Inaccessibility: Limited private nursing services in rural areas hinder market expansion.
• Skilled Professional Shortage: Scarcity of trained professionals and high costs restrict market growth.
• Service Dominance: Home health care providers dominate the market, offering a wide range of services.
• Female Dominance: Female nursing care providers dominate the market due to their caring nature.
• Technology Integration: Advanced technologies, including remote monitoring and telehealth, enhance patient care and efficiency.

Driving Factors

The growing average age of the population

Globally, the elderly population is growing rapidly. The percentage of people over 60 years in the globe is currently 13%, and this number is projected to rise sharply in the coming years. Life expectancy has increased significantly around the globe as a result of ongoing improvements in healthcare and healthy lifestyles. Demand for private nursing or homecare services has multiplied during the COVID era. Health-related concerns are more prevalent than ever. The following is the list of all the upcoming events. To receive superior care, many patients prefer private nursing to general or group care facilities. The private nursing market is expected to expand due to increasing demand for these services.

Increasing Incidence of chronic diseases

In recent years, chronic diseases are rising in the population and these diseases needed long-term treatment. Chronic condition management and treatment have grown to be a global issue. This patient needed personal care and treatment. The primary driver of private nursing market growth is likely professional nursing. By paying more attention to patients, these nurses can provide better care for them. The change in social life was also crucial to the expansion of the market for private care services. Joint families are split up into nuclear families, which causes the families to become smaller and makes it more challenging to care for the dependent family member, these families need assistance if someone in the family needs to take care of them, this can also drive the growth of the private nursing service market.

Restraining Factors

Inaccessibility of services in rural areas

Rural people face various challenges related to a healthcare facility; it makes challenging for them to have the care they needed. The development of the private nursing services market is anticipated to be significantly constrained by the dearth of private nursing services in rural areas. People from rural areas typically confront many difficulties in healthcare services, making it difficult for them to get essential care.

Scarcity of skilled professionals and high cost of services

Lack of education is the reason for the shortage of trained professionals, this is the major restraint of the growth of the private nursing service market. Additionally, it is anticipated that the high charge of private nursing services and the absence of nursing care reimbursements will be significant barriers to the market’s development during the estimated period. Due to the high expense of services, the low-income segment of the population in developing countries cannot afford private nursing care.

Service Type Analysis

By Service type, home health care providers have dominated the service type segment, Home health assistants (HHAs) are professionals who provide a wide range of services from monitoring a patient’s medical condition and IVs/injections to caregiver education and wound care. The goal is to assist with recovery from an injury or illness. To be qualified in this area, nurses must have completed formal medical education. Home healthcare may approve occupational or physical nurses, licensed practical nurses (LPN), or certified nursing assistants (CANs).

A residential facility where people who require medical care and help are referred to a nursing care facility. Residents of these facilities receive round-the-clock care and assistance from licensed nurses and other healthcare professionals who work in these facilities

Gender Analysis

With the highest market share female nursing care segment dominated the global private nursing service market. Nurses have a more caring nature and offer more attentiveness to patients than other professionals, which has contributed to their dominance in the nursing market. Patients prefer female nurses over private nurses, thus driving demand for private nursing services over the forecast period.

On the other hand, men struggle to be accepted professionally in their nursing positions by society in general and their peers in particular. Patients of both males and females often ask for a female nurse to take their place because they don’t like male nurses. Because they view them as homosexuals and do not accept them as equivalent. The male employees as a result lose the sense of belonging that is needed for feeling fulfilled in their area of work.

Application Analysis

Children who need medical care can receive one-on-one nursing care from private-duty nurses. Children who are improving from surgery or who need specialized care for conditions like cerebral palsy or autism are included in this. It can offer crucial support to kids and their families who need specialized medical treatment or help with daily assignments. These programs give kids the opportunity to receive care in the convenience of their own homes or combined settings, which can enhance the quality of life for kids and their families. Older persons can get medical care, assistance with daily living tasks, and other support services from private nursing services in the comfort of their own homes. This can involve dispensing medication, caring for wounds, and paying attention to vital signs.

Key Market Segments

By Service Type

• Retirement Communities
• Group Care Homes
• Nursing Care Facilities
• Home Healthcare Provider
• Other Service Types

By Application

• Children
• Adult
• Special Groups
• Other Applications

By Gender

• Male
• Female

Growth Opportunity

Private nursing service providers are now incorporating advanced technologies into their service packages. Everything is now accessible, from remote monitoring to on-call doctor services. All patient information is recorded in a system, creating a client base. In case of an emergency, doctors and nurses have access to all patient data. Technological advances in private nursing services enable both service providers and recipients to benefit. Market players can now care for more patients more quickly, thanks to remote monitoring of patient health records. With the increased demand for private nursing services predicted to continue increasing over the coming years, technology will continue to provide these advantages.

Latest Trends

Private nursing services demand is growing due to an increasing population and an increase in chronic diseases. As more people require ongoing medical care and support, the need for private nursing services is likely to continue to rise. Technology is being combined with private nursing services to enhance patient care and streamline operations. This involves the use of mobile health apps, telehealth services, and electronic health records. Private nursing services are progressively focused on offering personalized care that meets the unique needs of each patient. This entails individualized care plans, a comprehensive approach to treatment, and patient and family involvement in treatment choices.

Regional Analysis

In the global private nursing services market, North America is dominating with the highest revenue share. The private nursing services market is likely to grow in this region due to the increasing number of chronic illnesses, the increasing number of elderly populations in the region, the growing number of healthcare practitioners, and the rising number of healthcare services that are expected to be the key growth drivers.

APAC region is expected to hold the second-highest place during the forecasted period for the private nursing services market. Growing aging populations, increasing chronic diseases, changing patterns of disability and disease, rising rates of noncommunicable diseases linked to dependency and care needs, and rising income are the major driving factor in this region.

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

The private nursing market is highly fragmented, with numerous small and large players operating in different regions and specialties. The private nursing service market is highly competitive and is expected to continue to grow in the coming years.

Market Key Players

• The Ensign Group, Inc.
• Knight Health Holdings, LLC
• Genesis Healthcare, Inc.
• Brookdale Senior Living Inc.
• CBI Health Group Inc.
• Trinity Health
• Columbia Asia
• Apollo Hospitals Enterprise Ltd.
• Grand World Elder Care
• Kaiser Permanente
• Kindred Healthcare, LLC
• Other Key Market Players

Recent Developments

In 2021, the private Nursing service market continued to develop and expand driven by several factors

• Growing Demand for Private Nursing Services: There has been a significant rising in demand for private nursing services with the aging of the baby boomer generation.
• Advancement in Technology: In the development of the private nursing market technology has played an important role. New technologies, such as remote monitoring and telemedicine have made it easier for nurses to deliver care to a patient remotely.
• Government Initiatives: In the development of the private nursing service market in 2021 government initiatives have also played an important role. For example, the government of the US has increased funding for home healthcare services as part of its response to the COVID-19 pandemic.

Report Scope