Skilled Nursing Facility Market - Forecast(2021 - 2026)
Skilled Nursing Facility Market size was valued at $298.2 billion by 2020, and is anticipated to reach $520.5 billion by the end of 2026 growing at a CAGR of 9.8% during the forecast period 2021-2026 . The Skilled Nursing Facility market growth rate is attributed to the rise in the geriatric population, coupled with increasing chronic diseases and age-associated diseases creating new healthcare opportunities. Skilled nursing is a type facility that offers 24-hour-a-day care for those who can no longer live independently. In skilled nursing facility, trained medical professionals provide specialized care to seniors with severe illnesses or injuries. Specially trained staff assists residents with daily activities such as bathing, eating, laundry and housekeeping. They may specialize in short-term or acute nursing care, intermediate care or long-term skilled nursing care. Furthermore, compared to hospitals; skilled nursing facilities (SNFs) offer high-...