With the number of Canadians needing long-term care (LTC) and home care forecasted to exceed 2.38 million by 2031, the cost of providing such care is expected to increase, with annual cost estimated to be 58.5 billion Canadian dollars by 2031.
Total cost of long-term care (LTC) and home care in Canada in 2019 with a forecast for 2025 and 2031
(in billion Canadian dollars)
Characteristic
Annual cost of senior care in billion Canadian dollars
Long-term care (LTC) homes — also called nursing homes, continuing care facilities and residential care homes — provide a wide range of health and personal care services for Canadians with medical or physical needs who require access to 24-hour nursing care, personal care and other therapeutic and support services.
Total costs in nominal dollars and are assumed to increase at a weighted average of overall inflation and average wage growth.
*Forecast
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Canadian Medical Association. (May 25, 2021). Total cost of long-term care (LTC) and home care in Canada in 2019 with a forecast for 2025 and 2031 (in billion Canadian dollars) [Graph]. In Statista. Retrieved November 13, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1445738/ltc-and-home-care-costs-current-and-forecast-canada/
Canadian Medical Association. "Total cost of long-term care (LTC) and home care in Canada in 2019 with a forecast for 2025 and 2031 (in billion Canadian dollars)." Chart. May 25, 2021. Statista. Accessed November 13, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1445738/ltc-and-home-care-costs-current-and-forecast-canada/
Canadian Medical Association. (2021). Total cost of long-term care (LTC) and home care in Canada in 2019 with a forecast for 2025 and 2031 (in billion Canadian dollars). Statista. Statista Inc.. Accessed: November 13, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1445738/ltc-and-home-care-costs-current-and-forecast-canada/
Canadian Medical Association. "Total Cost of Long-term Care (Ltc) and Home Care in Canada in 2019 with a Forecast for 2025 and 2031 (in Billion Canadian Dollars)." Statista, Statista Inc., 25 May 2021, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1445738/ltc-and-home-care-costs-current-and-forecast-canada/
Canadian Medical Association, Total cost of long-term care (LTC) and home care in Canada in 2019 with a forecast for 2025 and 2031 (in billion Canadian dollars) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1445738/ltc-and-home-care-costs-current-and-forecast-canada/ (last visited November 13, 2024)
Total cost of long-term care (LTC) and home care in Canada in 2019 with a forecast for 2025 and 2031 (in billion Canadian dollars) [Graph], Canadian Medical Association, May 25, 2021. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1445738/ltc-and-home-care-costs-current-and-forecast-canada/
