Nursing Care Facilities in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: July 2024
NAICS 62311Revenue
$155.4bn
Past 5-Year Growth
Profit
$XX.Xbn
Employees
1m
Businesses
10,604
Wages
$XX.Xbn
Nursing Care Facilities in the US industry analysis
The rising number of adults over 65 has increased occupancy in nursing care facilities, straining staff and resources. The growth of telehealth and technology like smart beds and wearables has improved efficiency, allowing facilities to meet demand and raise the quality of care. But Government funding and reimbursement rates significantly impact revenues, with state discretion over reimbursements impacting overall revenue volatility during the period. Despite the pandemic's significant impact, industry revenue grew at a CAGR of 0.9% through 2023, projected to reach $155.4 billion in 2024 with a 0.6% revenue increase, hindered by lower Medicare and Medicaid funding.
Trends and Insights
- Occupancy rates in nursing facilities have risen. These facilities have successfully met the needs of the growing population of adults over 65.
- For-profit nursing facilities dominate the industry. Nonprofit facilities reportedly provide higher-quality care but are increasingly being acquired by larger companies. This trend raises concerns about the future quality of elder care.
- Regions with older populations tend to have more nursing care facilities. This concentration is driven by the age distribution across the US, highlighting a correlation between a growing older adult demographic and the availability of nursing services.
- New entrants face tough barriers. Intricate licensure, strict regulations and laws on facility operations complicate market entry and expansion and support continued fragmentation.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 0.9 % over the past five years, to reach an estimated $155.4bn in 2024.
Trends and Insights
Telehealth accommodates demographic and occupancy trends
- The number of older adults above the age of 65 has grown steadily, and as a result, occupancy in these facilities has grown, putting pressure on staff and resources.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
The older adult population and their funding will grow, bringing stability to revenue growth
- Growth in the number of adults aged 65 and older remains robust in the coming years, replenishing occupancy rates in nursing care facilities. The need for diverse care models will grow, especially as the need for specialized care for dementia or other health conditions rises along with this aging demographic.
Biggest companies in the Nursing Care Facilities in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
St. Augustine Health Ministries | 7,340.3 | 756.1 | 10.3 | |
Ensign Group, Inc. | 2,948.0 | 314.0 | 10.7 | |
Hcr Manorcare Inc. | 2,929.9 | 0.1 | 0.0 |
To view the market share and analysis for all 16 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including For-profit skilled nursing facilities, For-profit nursing homes and Nonprofit skilled nursing facilities. For-profit skilled nursing facilities is the largest segment of the Nursing Care Facilities in the US.
Trends and Insights
Philanthropy, affordability and quality are key to nonprofit growth
- Nonprofit facilities invest their profits in improving their facilities and services. Nonprofits were reported to have more or higher-quality staffing, a lower prevalence of restraints and accidents and fewer government-cited deficiencies.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Home Care Providers in the US
- Retirement Communities in the US
- Orphanages & Group Homes in the US
Complementors
- Hospitals in the US
- Specialty Hospitals in the US
International industries
- Aged Care Residential Services in Australia
- Residential Nursing Care in the UK
- Pflegeheime
- Residential Nursing Care in Ireland
Table of Contents
About this industry
Industry definition
This industry provides living quarters, inpatient nursing and rehabilitation services for people with a chronic illness or disability. Care is usually provided for an extended period to individuals who require help with day-to-day activities but do not need to be in a hospital.
What's included in this industry?
For-profit skilled nursing facilitiesFor-profit nursing homesNonprofit skilled nursing homesNonprofit nursing homesGovernment nursing homes and skilled nursing facilitiesHospice centersCompanies
St. Augustine Health MinistriesEnsign Group, Inc.Hcr Manorcare Inc.Purchase this report to view all 16 major companies in this industry.
Related Terms
ACUITYMEDICAREMEDICAIDHOME HEALTHCAREHOSPICE CAREACTIVITIES OF DAILY LIVING (ADL)RESPITE CARELONG-TERM CAREIndustry Code
NAICS 62311 - Nursing Care Facilities in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Occupancy rates in nursing facilities have risen. These facilities have successfully met the needs of the growing population of adults over 65.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
For-profit nursing facilities dominate the industry. Nonprofit facilities reportedly provide higher-quality care but are increasingly being acquired by larger companies. This...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Regions with older populations tend to have more nursing care facilities. This concentration is driven by the age distribution across the US, highlighting a correlation betwe...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
New entrants face tough barriers. Intricate licensure, strict regulations and laws on facility operations complicate market entry and expansion and support continued fragment...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
St. Augustine Health Ministries is a private company with an estimated 650 employees. Compared to the size of its operation, it holds a 5.0% market share.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of St. Augustine Health Ministries's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Ensign Group, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Hcr Manorcare Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 13 additional companies
Detailed analysis
- Description and key data for St. Augustine Health Ministries, and factors influencing its performance in the industry
- Description and key data for Ensign Group, Inc., and factors influencing its performance in the industry
- Description and key data for Hcr Manorcare Inc., and factors influencing its performance in the industry
- Description, key data and performance trends for 13 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Medicare and Medicaid reimbursements cover many services and treatments. However, federal funding and reimbursement rates vary significantly by year and state and can lead to...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Nursing facilities profit more from residents who pay out of pocket or use private insurance. Most nursing homes in the US are for-profit, indicating a financial incentive st...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Nursing Care Facilities in the US industry in United States in 2024?
The market size of the Nursing Care Facilities in the US industry in United States is $155.4bn in 2024.
How many businesses are there in the Nursing Care Facilities in the US industry in 2024?
There are 10,604 businesses in the Nursing Care Facilities in the US industry in United States, which has grown at a CAGR of 1.6 % between 2019 and 2024.
Has the Nursing Care Facilities in the US industry in United States grown or declined over the past 5 years?
The market size of the Nursing Care Facilities in the US industry in United States has been growing at a CAGR of 0.9 % between 2019 and 2024.
What is the forecast growth of the Nursing Care Facilities in the US industry in United States over the next 5 years?
Over the next five years, the Nursing Care Facilities in the US industry in United States is expected to grow.
What are the biggest companies in the Nursing Care Facilities in the US market in United States?
The biggest companies operating in the Nursing Care Facilities market in United States are St. Augustine Health Ministries, Ensign Group, Inc. and Hcr Manorcare Inc.
What does the Nursing Care Facilities in the US in United States include?
For-profit skilled nursing facilities and For-profit nursing homes are part of the Nursing Care Facilities in the US industry.
Which companies have the highest market share in the Nursing Care Facilities in the US in United States?
The company holding the most market share in United States is St. Augustine Health Ministries.
How competitive is the Nursing Care Facilities in the US industry in United States?
The level of competition is high and increasing in the Nursing Care Facilities in the US industry in United States.
