IMARC Group has recently released a new research study titled “South Korea Long Term Care Market Report by Service (Home Healthcare, Hospice, Nursing Care, Assisted Living Facilities, and Others), Gender (Male, Female), Payer (Public, Private, Out-of-Pocket), and Region 2025-2033”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

South Korea Long Term Care Market Overview

The South Korea Long Term Care Market size of USD 21.6 Billion in 2024. The market is forecasted to grow to USD 33.0 Billion by 2033, exhibiting a CAGR of 4.80% during the forecast period from 2025 to 2033. Growth is primarily driven by an increasing number of children with developmental disorders such as cerebral palsy and Down syndrome, alongside a growing elderly population with age-related conditions. This market delivers services across diverse settings including private homes and assisted living facilities.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

South Korea Long Term Care Market Key Takeaways

• Current Market Size in 2024: USD 21.6 Billion
• CAGR: 4.80%
• Forecast Period: 2025-2033
• Long-term care (LTC) addresses functional and cognitive limitations affecting activities of daily living such as walking, bathing, dressing, and mobility.
• LTC services include management of chronic geriatric conditions, rehabilitation, palliative, and preventive care.
• Service delivery settings include private homes, adult day-care facilities, assisted living, and nursing homes.
• Increasing elderly population confronting diseases like diabetes, arthritis, dementia, and Alzheimer’s is driving demand.
• Market growth is augmented by rising cases of children with cerebral palsy, Down syndrome, and other developmental disorders.

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Market Growth Factors

The South Korea long-term care market is primarily driven by the increasing prevalence of children with cerebral palsy, Down syndrome, and other developmental disorders across the country, which significantly augment market growth. This rising patient population necessitates expanded long-term care solutions tailored to developmental health needs.

Additionally, the expanding elderly population presents significant growth opportunities for the market. The elderly are increasingly affected by chronic conditions such as diabetes, arthritis, pulmonary disease, age-related hearing loss, dementia, and Alzheimer's disease. These conditions require comprehensive long-term care encompassing management, rehabilitation, palliative, and preventive services.

Long-term care services are delivered in multiple settings, including private homes, assisted living facilities, adult day-care centers, and nursing homes, reflecting the diverse needs of patients. This broad service delivery network supports growth by catering to different care preferences and functional capabilities.

Market Segmentation

Service Insights:

• Home Healthcare: Provides medical and therapeutic care to patients in their own homes, enhancing comfort and convenience.
• Hospice: Focuses on palliative care and support for terminally ill patients to enhance quality of life.
• Nursing Care: Delivers professional nursing services including medical monitoring and assistance with daily living.
• Assisted Living Facilities: Residential settings providing support for daily activities with a focus on independent living.
• Others: Includes various other types of long-term care services not categorized above.

Gender Insights:

• Male: Analysis and market data based on male patients receiving long-term care.
• Female: Analysis and market data based on female patients receiving long-term care.

Payer Insights:

• Public: Long-term care funded by government programs and public health insurance.
• Private: Services paid for through private insurance or private funding sources.
• Out-of-Pocket: Direct payments made by patients or families without insurance coverage.

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Regional Insights

The dominant region in the South Korea long-term care market is the Seoul Capital Area, followed by other regional divisions including Yeongam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region), and Others. The report provides a comprehensive analysis of these major markets but does not disclose specific market share percentages or CAGR by region.

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