23 Jul, 2026
According to Straits Research, the global long-term care (LTC) market size was valued at $1.25 trillion in 2025 and is projected to grow from $1.33 trillion in 2026 to $2.22 trillion by 2034, at a CAGR of 6.58% during the forecast period 2026–2034.
Long-term care encompasses a variety of services designed to meet an individual's health or personal care requirements over a short or extended period. Long-term care (LTC) assists individuals with functional or cognitive impairments in performing daily living (ADL) activities, such as walking, grooming, bathing, dressing, feeding, restroom use, and transferring.
Caregivers provide long-term care in various settings depending on the patient's requirements. Most long-term care is offered by unpaid family and acquaintances at home. It may also be administered in a nursing home or other public location, such as an adult day care center. In addition to sustenance, adult day care, and transportation, long-term care also includes community services.
The global population is aging dramatically, particularly in high-income countries. More than 54 percent of the world's elderly population resides in only six countries: China, the United States, India, Japan, Germany, and the Russian Federation. As a result, there is increased pressure on these nations' governments to provide care services for their citizens while maintaining a balance between labor force participation and economic growth. Several governments are revising their healthcare systems to provide senior citizens with the care they need at affordable prices. The U.S. government subsidizes LTC for seniors through the Medicare and Medicaid programs. These factors are anticipated to drive the expansion of the LTC market during the forecast period.
Long-term care service providers' adoption of telehealth applications is facilitating the market's transformation into an organized sector, garnering the interest of investors and entrepreneurs. Significant benefits of technology-integrated services include a decrease in the need for institutional care and a reduction in the financial burden associated with medical procedures. Due to advances in data science and artificial intelligence (AI), the quality of care provided by long-term care facilities is also increasing. For instance, AI can assist in recommending the optimal care solution based on the service provider's historical data. Thus, developing sophisticated devices for long-term care will drive market growth over the forecast period.
North America holds the largest global market share in long-term care (LTC) and is expected to see substantial growth during the forecast period. This expansion is driven by an aging population, a rising prevalence of chronic diseases, and a well-established healthcare infrastructure. In the United States, a key player in the region's LTC landscape, the aging population is a major driver of market demand. As of 2022, over 54 million Americans were aged 65 and older, accounting for approximately 16.8% of the total population. This demographic is set to expand significantly, with projections indicating that by 2030, one in five Americans will be 65 or older.
Europe is a significant player in the global long-term care (LTC) market, driven by an aging population, increasing life expectancy, and robust social welfare and healthcare systems. The region is experiencing a major demographic shift towards an older population. As of 2022, the European Union had over 101 million individuals aged 65 and older, representing approximately 22.8% of the total population. This trend is expected to continue, with projections indicating that by 2030, one in four Europeans will be aged 65 or older.
sales@straitsresearch.com