South Korea Long Term Care Market Size, Share, and COVID-19 Impact Analysis, By Service (Home Healthcare, Hospice, Nursing Care, Assisted Living Facilities, and Others), By Gender (Male, Female), and South Korea Long Term Care Market Insights, Industry Trend, Forecasts to 2035.

South Korea Long Term Care Market Insights Forecasts to 2035

• The South Korea Long Term Care Market Size was estimated at USD 20.10 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 4.93% from 2025 to 2035
• The South Korea Long Term Care Market Size is Expected to Reach USD 34.12 Billion by 2035

According to a research report published by Spherical Insights & Consulting, The South Korea Long Term Care Market Size is Anticipated to reach USD 34.12 Million By 2035, Growing at a CAGR of 4.93% from 2025 to 2035. Rising the cases of children suffering from cerebral palsy, down syndrome, and other developmental disorders are the major drivers for the growth of the market in the country.

Market Overview

South Korea Long Term Care (LTC) market covers an extensive set of services intended to help individuals, especially the elderly, who suffer from chronic illness, disability, or impairments in cognition. The services help with everyday tasks like bathing, dressing, eating, and mobility. The long-term care sector in South Korea has become a vital part in the country's healthcare sector, taking care of persons suffering from functional or intellectual limitations in everyday life. LTC provides assistance with activities of daily living (ADLs), such as walking, grooming, bathing, dressing, eating, toilet use, and mobility. Moreover, this holistically oriented approach to care integrates older consumers traditional health care needs like the management of chronic geriatric conditions, rehabilitation, palliative care, and preventive care. South Korean long-term care is delivered across a range of settings to address the diverse needs of the elderly. Such settings involve private residences, adult day-care centers, residential care or assisted living facilities, and nursing homes.

Report Coverage

This research report categorizes the market for the South Korea long term care market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea long term care market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea long term care market.

Driving Factors

The growing need for long-term care in South Korea is experiencing a significant surge because of the increasing geriatric population suffering from ailments such as diabetes, arthritis, pulmonary disease, age-related hearing loss, dementia, and Alzheimer's. With the demographic profile shifting towards an aging society, the relevance of long-term care to enhance the health and well-being of the elderly becomes more evident with each passing day. The South Korean long-term care market is defined by its resolve to meet the changing healthcare needs of the aged population. It reveals the country's commitment to offering inclusive and quality care services, which is anticipated to drive the regional market in the future.

Restraining Factors

The LTC industry also has a high caregiver turnover rate caused by low income and unsatisfactory working conditions. This shortage is further intensified by the absence of skilled professionals, as most youths are discouraged from pursuing this career because it is demanding and offers few career advancement opportunities. This results in the compromised quality of care and the ability of facilities to maintain satisfactory staffing levels.

Market Segmentation

The South Korea long term care market share is classified into service and gender.

• The nursing care segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea long term care market is segmented by service into home healthcare, hospice, nursing care, assisted living facilities, and others. Among these, the nursing care segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Nursing care facilities provide a range of medical therapies, rehabilitation, and daily living support, which makes them a top choice for consumers with complex health conditions.

• The female segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea long term care market is segmented by gender into male and female. Among these, the female segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Women live longer, and as such, there is a higher demand for long-term care services, which may include nursing care and assisted living facilities.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea long term care market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Seoul Senior Welfare Center
• Korea Long-Term Care Insurance Corporation
• Hankook Senior Care
• Ewha Senior Care Center
• Samsung Medical Center
• Others

Recent Developments:

• In May 2025, Yamashita, a provider of nursing care product rentals, launched a wholesale business for nursing care products in rapidly aging South Korea.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea long term care market based on the below-mentioned segments:

South Korea Long Term Care Market, By Service

• Home Healthcare
• Hospice
• Nursing Care
• Assisted Living Facilities
• Others

South Korea Long Term Care Market, By Gender

• Male
• Female