Transforming Healthcare: Key Trends in the Growing U.S. Care Services Market
The U.S. care services market size is expected to reach USD 748.5 billion by 2030 expanding at a CAGR of 5.76% based on a new report by Grand View Research, Inc. Growing geriatric population and rising incidence of target diseases such as dementia and Alzheimer’s as well as orthopedic diseases are factors expected to fuel the industry growth in the times to come. Increasing treatment cost is one of the prime concerns for governments and health organizations and hence they are striving to curb healthcare costs. Care services are cost-efficient alternatives to expensive hospital stays and thus are economic for a longer time duration. The federal government is playing an active role in financing the care services. SNFs, hospice, and home healthcare are financed by the government. The U.S. government introduced the COVID-19 relief fund and provided funding of USD 175 billion to SNFs, USD 30 billion to hospice care, and USD 20 billion to assisted living facilities, ...