Nursing homes provide 24-hour high-level care for residents who are typically aged 70 years and older. The industry is set to expand at a strong rate, mainly due to the ageing of the Australian population. By 2051, nearly 20% of Australia's population is expected to be above 70 years of age.
While Australia's aging population suggests that industry revenue should grow strongly, revenue growth is restricted by budget constraints and target provision ratios that control the expansion of aged-care places. Consequently, over the five years through 2012-13, industry revenue is forecast to grow an annualised 5.5%.
This industry consists of nursing or convalescent home facilities (including those that provide nursing or medical care as a basic part of the service). These high-care nursing facilities, provide 24-hour nursing care for residents and are staffed by registered and enrolled nurses, nursing assistants or personal care assistants. This industry excludes hospice operation.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.