According to Ugalmugle and Swain (2020), increasing aging and life expectancy will continue to boost market growth. The analyst's report advancements in medical technology that allow caregivers and family members to securely diagnose and treat older adults, continuous developments in the medical field enhancing quality of life, and emerging technologies for older adults such as virtual companions and remote support contribute to market growth.

Answer the following question:

• What does this mean for healthcare risk management in long-term care institutions and services?
• Reference: Ugalmugle, S., & Swain, R. (2020, March). Long-term care market size 2020-2026. [Report ID: GMI3895]. Global Market Insights Links to an external site..