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Nov 202 min read

Unlocking Opportunities in the Growing Long-Term Care Market: A $394.8B Expansion by 2028

Updated: Nov 26

Humanoid robots to benefit elderly care in China’s expanding market

The global long-term care (LTC) market is set to grow by $394.8 billion by 2028, achieving a compound annual growth rate (CAGR) of 3.21%, according to Technavio. For B2B stakeholders, this surge represents not just a market expansion but a chance to address critical gaps in the industry while capitalizing on emerging trends.


Driving Forces Behind Market Growth


The unprecedented growth is fueled by two major factors:


  1. Ageing Population: As the global elderly demographic expands, the demand for personalized and extended care services continues to rise.

  2. Chronic Disease Prevalence: Conditions such as Alzheimer’s, osteoporosis, diabetes, and cancer are amplifying the need for long-term care solutions.


Market Trends and B2B Opportunities


Healthcare facilities are transitioning to patient-centred care models, opening doors for innovative vendors in treatment therapies, home-based care technologies, and integrated healthcare solutions. Investments in post-treatment services, such as diagnostics and at-home care, are paving the way for partnerships and new business models across the healthcare value chain.


Challenges That Demand Solutions


Despite the promising outlook, the LTC market faces significant challenges:


  • Workforce Shortages: A critical gap in trained geriatrics professionals, primary care physicians, and nurses hindering operational efficiency.

  • Talent Retention Issues: Many nurses are shifting to administrative roles, leaving frontline caregiving positions understaffed.

  • Capacity Constraints: Workforce shortages have led some facilities to halt patient admissions or reduce services, highlighting an urgent need for scalable staffing solutions.


Takeaway for B2B Professionals


For healthcare businesses, this is a pivotal moment to deliver solutions that address workforce shortages, enhance care methodologies, and adopt patient-centric technologies. By investing in innovation and workforce development, companies can capture a significant share of this expanding market while driving impactful change.


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