According to new research study by Transparency Market Research (TMR), the global market for long term care is observing a significantly high growth. The report, titled “Long Term Care Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” presents and evaluation of this market on the basis of the prominent trends, growth boosters, obstacles, opportunities, challenges, and the market potentials to determine the future prospects of this market.
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According to the research study, the global market for long term care is witnessing a significant growth, thanks to the rapid rise of geriatric population across the world. Furthermore, the rising prevalence of chronic diseases is also supporting the market growth of this market substantially. The market is projected to experience remarkable growth, owing to the increasing technological advancements in the medical and healthcare sector over the next few years, states the research report.
The global market for long term care is led by North America and Europe, owing to the rise in the geriatric population and the extensive government support for long term care. Asia Pacific is an emergent regional market, owing to strong economic growth forecasted in various Asian economies, such as Japan, India, China, and Malaysia, states the report.
An analysis of the competitive landscape of the global market for long term care is also offered in this research report in order to gain an insight into the hierarchy amongst the leading players in this market. AARP Long Term Care, American General Life (AIG), Lincoln Financial Group, New York Life Insurance Company, State Farm Insurance, Thrivent For Lutherans are some of the key players in this market, mentioned in this research report.