Pune, India, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Post-acute care encompasses a broad range of services the patient gets after hospitalization. Sometimes, these services are provided as an alternative to acute care hospitalization, depending upon the type of disease or injury. It could include a stay in an acute care facility, home health care, or continuous outpatient therapy. It all depends upon the seriousness of the disease. Factors that positively affect the post-acute care market are the growing prevalence of chronic disease boosts the need for post-acute care. Also, the strategic partnerships among post-acute care service providers, and the growing elderly population demanding care driving investment in the post-acute care market.
According to our new research study on “Post-acute Care Market covers analysis By Services (Skilled Nursing Facilities, Inpatient Rehabilitation Facilities, Long-term Care Hospitals, Home Health Agencies, and Others), Age (elderly, adult, and others), Disease Conditions (Amputations, Wound Management, Brain Injury and Spinal Cord Injury, Neurological Disorders, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America),” the global post-acute care market is expected to grow from $812.49 million in 2022 and is expected to reach a value of $1372.26 million by 2030; it is anticipated to record a CAGR of 6.7% during 2022-2030.
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Asia Pacific is the fastest-growing region of the global post-acute care market. North America accounted for the largest share of the global post-acute care market in 2022. In the region, the China held the largest post-acute care market share and India is anticipated to register the highest CAGR during 2022–2030. Cardiovascular disease (CVD) is China's leading cause of healthcare burden. The prevalence and incidence of the disease continue to increase across the country. The research article “Cardiovascular Disease Mortality and Potential Risk Factor in China: A Multi-Dimensional Assessment by a Grey Relational Approach,” published in April 2022, mentioned that CVD is one of the major healthcare burdens in China. Furthermore, 290 million people are suffering from cardiac disorders (13 million), stroke, coronary heart disease (11 million), rheumatic heart disease (2.5 million), heart failure (4.5), congenital heart disease (2 million), pulmonary heart disease (5 million), and hypertension (245 million) in China. Also, as per the article, China accounts for 40% of the total mortality related to CVDs across the globe. Thus, the growing burden and prevalence of CVD among the target population in China is expected to increase the demand for post-acute care service to regain the strength, driving the post-acute care market growth.
Global Post-acute Care Market: Competitive Landscape and Key Developments
Brookdale Senior Living, Alden Network, AMITA Health, Bella Vista Health Center, Amedisys Inc., Covenant Care, Sonoma Post Acute, Victoria Post Acute, Mission Hills Post Acute, Vineyard Post Acute are a few key companies operating in the Post-acute Care market. These companies adopt product innovation strategies to meet evolving customer demands, which allows them to maintain their brand name in the Post-acute Care market. A few of the recent developments in the global Post-acute Care market are mentioned below:
In February 2022, K&B Underwriters partnered with VirtuSense Technologies to offer predictive technologies in post-acute care. On September 1, 2022, K&B Underwriters launched their new CareAgents program for post-acute healthcare organizations. The program will improve accessibility to these cutting-edge tools for post-acute organizations like rehab facilities, skilled nursing communities, and senior living communities that otherwise may not have had the executive support to launch a new fall prevention strategy. Organizations on the CareAgents program can provide high-quality care to their residents while growing staff efficiency, lowering annual drops, boosting their census, and seeing a decline in annual insurance claims.
In February 2022, BAYADA Home Health Care, a leading not-for-profit home health care provider, launched innovative digital care transition and coordination solutions to help hospitals and health plan point venture partners better serve patients in their homes and communities. BAYADA partnered with Dina, a digital healthcare company, as the platform to power these new, tech-enabled services.
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Global Post-acute Care Market: Segmental Overview
The Post-acute Care market, by services, is segmented into skilled nursing facilities, inpatient rehabilitation facilities, long-term care hospitals, home health agencies, and others. In 2022, the skilled nursing facilities segment held the largest share of the market and is expected to grow at the fastest rate during the coming years. The Post-acute Care market, by age, is segmented into elderly, adult, and others. In 2022, the elderly segment held the largest share of the market and is expected to grow at the fastest rate during the coming years. The Post-acute Care market, by disease conditions, is segmented into amputations, wound management, brain injury and spinal cord injury, neurological disorders, and others. In 2022, the brain injury and spinal cord injury segment held the largest share of the market. However, the online pharmacies segment is estimated to grow at the highest CAGR from 2022 to 2030.
Strategic Partnerships Among Post-Acute Care Service Providers Drives Global Post-acute Care Market Growth:
In July 2023, Innovaccer Inc. partnered with Post Acute Analytics (PAA) to help health systems succeed with patient-centered, value-based care. Using Innovaccer's Best in KLAS data & analytics platform and PAA's integrated point-of-care AI platform as the foundation, providers can optimize care pathways and provide real-time monitoring of patient progress throughout the acute and post-acute care continuum.
In September 2022, Maryland Post-Acute Care Associations and Real Time Medical Systems collaborated with CRISP to Integrate Nursing Facilities Into State-Designated Health Information Exchange. The innovative program will offer nursing facilities resources and tools to better align with different healthcare provider types through data transparency to reduce healthcare costs, enhance care, and lower hospital readmissions for the state’s most vulnerable populations.
In September 2022, The Michigan Health Information Network (MiHIN) announced that its partnership with the country's largest post-acute electronic medical record vendor will enable 250 new post-acute providers and case managers to exchange real-time data through the Health Information Exchange (HIE). MiHIN aims to advance and deepen healthcare collaboration, care coordination, and interoperability by offering access to real-time insights at any stage of a patient’s journey.
In September 2023, Medline announced an addition to its post-acute care technology solutions portfolio for nursing homes. A new partnership with SNF Metrics will offer operators a business intelligence solution with fast and actionable data around risk, accounts receivable, clinical care, staffing, and reimbursement.
Therefore, the strategic partnerships among post-acute care service providers drives the Post-acute Care market.
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