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Nursing Care Facilities in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Nursing Care Facilities Market Research Report | NAICS 62311 | Mar 2016

Growing pains: Despite increased demand, lower reimbursements may limit industry growth

IBISWorld’s Nursing Care Facilities market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$132bn
Annual Growth 11-16
2.3%
Annual Growth 16-21
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Profit
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Employment
1,775,943
Businesses
24,115
Industry Analysis & Industry Trends

Due to the necessary nature of services provided by nursing care facilities, the industry was able to grow despite broad economic stagnation. Additionally, the continued aging of the population has spurred demand for industry services. Since the elderly are more prone to injury and illness, and therefore require more assistance with daily activities, the larger share of senior adults has propelled demand for nursing care facilities. Despite favorable demographic trends, unsatisfactory government funding has hindered industry growth. Over the five years to 2021, the industry is expected to continue expanding. Continued aging of the population, which is expected to accelerate over the five-year period, will drive industry growth... purchase to read more

Industry Report - Starting a New Business Chapter

The Nursing Care Facilities industry has moderate barriers to entry, particularly in states with no certificate of need (CON) regulation. A CON is a legal document required in many states before proposed acquisitions, expansions, or creations of facilities are allowed. CONs are necessary for the construction of a medical facility in 36 states and are issued by state healthcare agencies. Operators must also adhere to other federal, state and local government laws and regulations, which can be extensive, when establishing and operating facilities. For instance, facilities must be accredited and licensed. Many states have imposed moratoria on new nursing homes beds.

Aside from regulation, barriers to entry are low... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Nursing Care Facilities Industry?

This industry provides living quarters, inpatient nursing and rehabilitation services for people with a chronic illness or disability. The care is usually provided for an extended period to individuals who require help with day-to-day activities but do not need to be in a hospital.

Industry Products
For-profit nursing homesNonprofit nursing homesGovernment nursing homes and skilled nursing facilitiesFor-profit skilled nursing facilitiesNonprofit skilled nursing facilitiesHospice centers
 
Industry Activities
Operating convalescent homes or convalescent hospitals (except psychiatric)Operating group homes with nursing care for the disabled Operating homes with nursing care for the aged Operating inpatient-care hospicesOperating nursing homesOperating rest homes with nursing careOperating retirement homes with nursing careOperating skilled nursing facilities


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