Industry Analysis & Industry Trends
Nursing homes provide 24-hour high-level care for residents typically aged over 70 and for severely disabled younger people. The industry has grown strongly over the past decade and is set for continued expansion, mainly due to Australia's ageing population. By 2051, nearly 20.0% of Australia's population is expected to be over 70 years of age.
Australia's ageing population suggests that industry revenue should grow strongly. However, the industry's performance has been partly restricted by budget constraints and target provision ratios that control the expansion of funded aged-care places.
The Nursing Homes industry is expected to generate revenue of $10.3 billion in 2013-14, following annualised growth of 5.8% over the past five years... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Nursing Homes industry is in the growth phase of its life cycle because it is growing faster than the overall economy. Industry value added is projected to increase by an annualised 3.5% over the 10 years through 2018-19, above the projected pace of growth in Australia's GDP (2.5% annualised).
This is common for a healthcare industry, and particularly for healthcare providers serving older Australians. The health sector as a whole grows faster than the Australian economy. The number of high-care residential places will increase in the next five years in response to the demands of an ageing Australian population... purchase to read more