Private nursing services are provided to clients according to their individual needs and preferences. Companies that provide private nursing services offer clients quick access to therapies and the opportunity to choose when to begin treatment. They also have the option of replacing or selecting a care provider. The client must pay a fee for the services. This service is usually provided to clients with chronic health issues, with a special focus on children and those who are suffering from severe damage to their outer and inner organs.
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Segmentation of the global private nursing market is based on – Service Types and End-Users as well as Region. Below is a detailed description of each segment:
Based on Service Types:
• Retirement Communities
• Group Care Homes
• Nursing Care Facilities
• Home Health Care Providers
Based on End-Users:
• Male Nursing Care
• Female Nursing Care
Based on Region:
• North America
• South America
• Middle East & Africa
Market Dynamics –
The Global Private Nursing Services Market Drivers:
This market will be driven by the increasing number of nuclear families and chronic disease rates. People today prefer to live in a nuclear family, which is why there has been an increase in demand for private nursing services. Because there are fewer family members who can care for a geriatric patient in a nuclear family, it is more difficult to take care of them. Patients with chronic conditions require extra care. It can be difficult for family members and friends to keep an eye on them. This market will be boosted by the rise in severe diseases.
Global Private Nursing Services Market Opportunity:
This industry will see new opportunities thanks to government support and favorable reimbursement policies. This market is expected to expand due to its excellent service flexibility and the rising incidence of chronic diseases worldwide.
Global Private Nursing Services Market Restraints:
A shortage of qualified professionals is one of the biggest bottlenecks in this sector. There is a shortage worldwide of skilled specialists. The World Health Organization (WHO) reported that there was a shortage of 4 million healthcare workers worldwide, which mainly consists of community health workers and nurses. This has had a significant negative impact on the market’s expansion.
Competitive Landscape –
The market’s key players are: The Ensign Group Inc., Genesis Healthcare, Kaiser Permanente, Trinity Health, Apollo Hospitals Enterprise Ltd., Kindred Healthcare, Brookdale Senior Living, CBI Health Group Inc., Columbia Asia, and Grand World Elder Care, among others. These industry leaders are now focusing their efforts on mergers, partnerships and acquisitions, product development, collaboration strategies, and other ways to maintain their competitive edge.
The Key Developments
Accentcare, a California-based provider of post-acute home care services, acquired Southeastern Health Care at Home in June 2021. This acquisition was done to combine expertise and evidence-based learning and improve the home-based care range for families and providers.