Global Private Nursing Services Market (2024-2030):
The global private nursing services market was USD 482.52 million in 2023, and is projected to reach a value of USD 521.6 million by the end of 2024, USD 563.84 million by 2025, USD 609.51 million by 2026, USD 658.88 million by 2027, USD 712.24 million by 2028, USD 769.93 million by 2029 and is expected to hit over USD 832.29 million by 2030 with a registered CAGR of 8.1% from 2024 to 2030.
Private nursing services are provided by licensed practical nurses (LPN) or registered nurses (RN) in non-institutional, privately run environments, such as patients' homes or other private facilities. These services can be provided on an ongoing or one-time basis, according to patient requirements. The global private nursing services market is expanding due to the increasing elderly population and increased need for medical care. Many individuals prefer to receive care at home, allowing for high-quality, individualized, and specialized care. Private nursing service providers are seizing these opportunities to provide personalized, specialized care to those receiving care at home. Private nursing service vendors are offering personalized, specialized care. The rising prevalence of chronic diseases like respiratory, cardiovascular, and diabetes also contributes to the industry's growth. Private nursing service providers are integrating modern technology into their services, enabling remote monitoring and on-call doctor services. This technology improves patient data management, enabling physicians and nurses to access patient records in emergencies. This integration benefits both providers and recipients, allowing for better service delivery and increased demand, driving market growth.
The global private nursing services market can be segmented into service type, gender, medical condition, payment model, and region. The global private nursing services market can be segmented into medical care and non-medical care, with medical care encompassing subspecialties like wound dressing and drug delivery. Non-medical care includes companionship and aid with everyday activities. The medical care sector is expected to account for the majority of the market. Non-medical care is expected to grow due to urbanization and high-paced job profiles, limiting time for elderly care. Private nursing services are essential for patients after hospital discharge, allowing individuals to save costs while still providing high-quality healthcare. The female segment is expected to dominate due to the growing female population and preference for caring nurses. Medical conditions include pediatric care, chronic disease management, post-operative services, and elderly care. Post-operative services are the fastest-growing segment due to the increasing number of surgeries worldwide. Payment models include insurance-covered services, subscription-based services, and fee-for-service. The fee for services is expected to grow due to people's preference for offering a fee after taking service and convenience in calling for services only when needed. The home healthcare providers segment is expected to dominate the global private nursing services market, with a 65% growth expected over the next decade. These providers, often known as home health aides, provide a range of services such as medical condition monitoring, IVs, injections, patient education, and wound care. The industry is growing due to the aging population, healthcare expenditure, advances in medicine and technology, short hospital stays, and increased outpatient surgery. The Retirement Communities segment is expected to grow at a CAGR of 9% and hold the second-highest position in the service-type segment.
The global private nursing services market faces restraints due to high costs and affordability, as well as a lack of qualified professionals. The private nursing services market faces challenges due to a shortage of skilled professionals, high costs, and lack of reimbursements. This is particularly concerning for low-income populations in developing nations, who cannot afford private nursing care. Challenges include regulatory complaints and compliance with government regulations, making it difficult for providers to serve patients effectively. Rural populations face challenges in accessing healthcare services, with the lack of private nursing services being a key market restriction. Factors such as prices and access methods, such as commute, hinder the market's growth during the forecast period.
North America dominates the global private nursing services market, with the highest revenue share in 2023. North America dominates the global private nursing services market due to its advanced healthcare infrastructure, rising chronic diseases, robust network of facilities, clinics, and hospitals, and its aging population, providing a strong foundation for growth. The aging population and preference for home-like comfort in families are expected to boost the market growth, particularly in the region with a high demand for healthcare services. The U.S., with 3.1 million nurses, is expected to maintain its dominance, with rising medical infrastructure and technologies. Higher per capita income supports market development. The Asia-Pacific region is predicted to hold the second-highest position in the global private nursing services market by the end of the forecast period. The Asia Pacific region is gaining prominence in the private nursing services industry due to its diverse population, high senior citizen population, and increased income from urbanization and industrialization, fostering market development. Japan is expected to grow at the highest CAGR and dominate the Asia-Pacific private nursing services market. India is also expected to hold the second-highest position due to its growing healthcare industry and significant investments in infrastructure and institutional mechanisms. However, the public sector's involvement in healthcare is minimal.
Global Nursing Care Market (2024-2030):
The global nursing care market was USD 1.316 billion in 2023 and is projected to reach a value of USD 1.387 billion by the end of 2024, USD 1.468 billion by 2025, USD 1.554 billion by 2026, USD 1.645 billion by 2027, USD 1.742 billion by 2028, USD 1.844 billion by 2029 and is expected to hit over USD 1.952 billion by 2030 with a registered CAGR of 5.9% from 2024 to 2030.
Nursing care involves skilled professionals promoting health and preventing diseases. Nurses assist patients in medical procedures, assess patients, administer medications, and manage care plans. They provide personalized care, including intensive rehabilitative care for those with disabilities and long-term care. Nursing care ensures quality healthcare services, patient satisfaction, and reliability in hospitals. It includes nursing homes, home care, hospice care, and assisted living. Nursing care is crucial for patient wellness, assessing and diagnosing patients before doctors. The growing number of hospitals and personalized care opportunities will drive market growth. Long-term care services are expected to increase, with a shift towards home care. The nursing care market is growing due to the increasing prevalence of chronic diseases, rising healthcare awareness, long-term care systems, and the geriatric population. Hospital services are expected to experience the fastest growth due to Alzheimer's disease and dementia. The increasing prevalence of chronic diseases among the elderly population, including heart disease, cancer, diabetes, Alzheimer's, and anxiety, presents significant opportunities for market growth. Market players are expanding their service portfolios, collaborations, and partnerships to boost growth. The nursing care market is facing challenges due to lack of reimbursements, high healthcare costs, and limited trained nurses. The COVID-19 pandemic significantly impacted the nursing care market, leading to staff shortages, increased burnout, and increased labor costs. With 24% of facilities reporting shortages, the market experienced severe increases in nursing costs. Home health care emerged as a cost-effective alternative, increasing demand for nursing care. Market growth is expected due to increased vaccination campaigns and awareness of long-term care as a cost-cutting alternative. North America's nursing care market is expected to grow due to high healthcare expenditures, increasing prevalence of diseases, and the geriatric population. The growing burden of chronic diseases and rising disposable income in the US are expected to drive demand for nursing care. Additionally, initiatives by public and private institutions to address the nursing shortage and increase the number of nursing professionals may drive the market. The Asia-Pacific market is projected to experience the highest growth rate from 2024 to 2030 due to the increasing geriatric population and hospital numbers.
Global Nursing Products Market (2024-2030):
The global nursing products market was USD 10.21 billion in 2023 and is projected to reach a value of USD 11.33 billion by the end of 2024, USD 12.57 billion by 2025, USD 13.95 billion by 2026, USD 15.48 billion by 2027, USD 17.18 billion by 2028, USD 19.06 billion by 2029 and is expected to hit over USD 21.15 billion by 2030 with a registered CAGR of 11% from 2024 to 2030.
Nursing products are essential healthcare items used by healthcare professionals to ensure patient safety, comfort, and well-being. They include medical equipment, PPE, and diagnostic tools like stethoscopes, thermometers, and blood pressure monitors. The global nursing product market is growing due to the increasing demand for healthcare services, patient safety, and quality of care. Innovations in technology, such as electronic medical records and telemedicine systems, are driving growth. However, regulatory issues may hinder growth. Market segmentation includes nursing pillows, nursing pads, nursing covers, nipple creams, nursing bras, nursing stations, breast pumps, nursing accessories, and others. The baby and mother care sector is experiencing growth in food, beverages, personal care, furniture, and nursing products due to population growth and emerging economies. The breast pump segment dominates the market, accounting for 52% of revenue in 2023. Electric breast pumps are popular among working women due to convenience and nutritional requirements. The nipple cream segment is expected to grow 13% from 2024 to 2030, with manufacturers introducing fragrance-free and non-wipe-off nipple balms. North America dominates the market with 47% revenue in 2023, driven by healthcare infrastructure, technological advancements, and increased women's employment. Asia Pacific is expected to experience the fastest CAGR due to rising maternity care awareness and breastfeeding challenges.
Global Nursing Education Market (2024-2030):
The global nursing education market was USD 8631.08 million in 2023 and is projected to reach a value of USD 9045.37 million by the end of 2024, USD 9479.54 million by 2025, USD 9934.55 million by 2026, USD 10411.4 million by 2027, USD 10911.14 million by 2028, USD 11434.87 million by 2029 and is expected to hit over USD 11983.74 million by 2030 with a registered CAGR of 4.8% from 2024 to 2030.
Nursing education is a comprehensive formal training in the science of nursing, encompassing physical care duties and various disciplines that aid in patient recovery. A study in Health Affairs reveals a shortage of primary care physicians, particularly in rural areas. This has led to an increase in non-physician providers like nurse practitioners, who are less expensive than physicians. As access to care grows, the market is expected to grow. Nursing demand is increasing due to demographic changes and the complexity of global health challenges, including ageing populations with chronic diseases like cardiovascular, hypertension, diabetes, and mental health conditions. The nursing education market is expected to grow due to rising demand for certification and degrees, social media adoption, increasing nursing colleges, technological advancements, and younger generations' motivation to advance professional knowledge. The nursing education market faces challenges due to high start-up costs and the high cost of nursing education courses offered by universities and institutes. The COVID-19 pandemic significantly impacted nursing education, causing risks, heavy workloads, and affecting nurses' daily lives. Nursing education integrates these issues, providing students with learning opportunities and professional identity development. The outbreak significantly impacted clinical learning environments in healthcare settings. North America dominates the nursing education market due to its healthcare infrastructure and favorable reimbursement policies. Asia-Pacific is expected to grow at the highest rate due to increasing cancer incidence, U.S. manufacturers, technological advancements, and foreign investment.