The U.S. assisted living facility market was valued at USD 84.68 billion in 2020 and is projected to grow at a CAGR of 6.6% during the forecast period. Factors driving the growth of the assisted living facility market include rising income from older population, growing prevalence of cognitive impairment, and the desire to live in senior housing communities for better healthcare.
The U.S. assisted living facility market is segmented based on gender and age. On the basis of gender, the market is segmented into women and men. Women was the largest market of the assisted living facility market in 2019. By age, the market is segmented into 85 years and above, 75 to 84 years, 65 to 74 years, and less than 65 years. More than 85 years of age segment accounted for the largest share of the U.S. assisted living facility market and is projected to sustain its dominance over the forecast period.
U.S. assisted living facility market is expected to grow at a CAGR of 5.53% from its estimated valuation of around USD 91.7 billion in 2022 to over USD 140.7 billion by 2030.
Leading players of the U.S. assisted living facility market include Kindred Healthcare, Inc., Integral Senior Living, Atria Senior Living, Inc., Brookdale Senior Living Solutions, Sunrise Senior Living, Inc., Five Star Senior Living, Capital Senior Living, Gardant Management Bradley, Merrill Gardens, Belmont Village Senior Houston among others.
U.S. Assisted Living Facility Market Scope
|Revenue forecast in 2030
|USD 140.7 billion
|CAGR of 5.53% during 2020-2030
|By Age, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Kindred Healthcare, LLC; Brookdale Senior Living Inc.; Sunrise Senior Living, LLC; Atria Senior Living, Inc.; Five Star Senior Living; Capital Senior Living; Merrill Gardens; Integral Senior Living (ISL); Belmont Village, L.P.; Gardant Management Solutions
Key segments of the U.S. assisted living facility market
Gender Overview (USD Billion)
Age Overview (USD Billion)
- More than 85 years
- 75-84 years
- 65-74 years
- Less than 65 years
Reasons for the study
- Increased life expectancy elderly
- Growing income from senior population
What does the report include?
- The study on the U.S. assisted living facility market includes qualitative factors such as drivers, restraints and opportunities
- The study covers qualitative and quantitative analysis of the market segmented on the basis of gender and age
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the U.S. assisted living facility market is suitable for all the players across the value chain including product manufacturing companies, suppliers/distributors, R&D labs, CROs, healthcare organizations, medical reimbursement and insurance providers
- Venture capitalists and investors looking for more information on the future outlook of the U.S. assisted living facility market
- Consultants, analysts, researchers, and academicians looking for insights shaping the U.S. assisted living facility market
Frequently Asked Questions (FAQ) :
Historically, the process of identifying a suitable home for a loved one has not been a consumer-driven process. Put simply, if an older adult can no longer live independently and does not require the level of support offered in skilled nursing, they are left to choose among the current supply of assisted living (or similar) facilities. In terms of care needs, this cohort accounts for the largest proportion of older adults needing supportive services. A combination of online research and touring of assisted living facilities close to one’s current residence is the basis for a decision. There is no shortage of checklists and online resources to select a home for an older adult (most sites appeal to the son or daughter of a loved one as opposed to the actual resident). Given that 60% of assisted living residents only relocate within a 10-mile radius from their home, and 80% relocate within a 25-mile radius, this is a very narrow range to find a suitable home. As such, one is likely to be subject to the geographical definitions of quality and amenity; given that although the industry has rapidly expanded since its inception in the late 1970s, there has been no establishment of a threshold at or below which an assisted living facility can provide adequate care without comprising resources and safety.
On the basis of gender, women dominates the market. More than two-thirds of geriatric population aged above sixty-five years require some kind of long- term care, among which mainstream are women. As per the New England Journal of Medicine, the probability that a man over 65 years of age, will require long-term care is 33% whereas, for a woman, it is 50%. Women are more prone to long-term care as they have increased life expectancy and are susceptible to developing chronic infections and ailments like Alzheimer’s disease. Women usually outlive men by five or more years. Women age sixty-five at present can anticipate to live around twenty more years and need an average of 3.7 years of prolonged long-term care provision. Thus, due to this increased need for assistance, nearly two-thirds of assisted living facility receivers are women.
Across the United States, 60% of assisted living administrators noticed an increase in legal claims; meanwhile nearly 75% noticed an increase in lawsuits and 71% noticed an increase in settlements. One of the reasons for the rise in legal pressure may be attributed to a higher proportion of residents with moderate to severe cognitive impairment in assisted living. More broadly, this also indicates that there is a lack of consumer choice and solutions for the elderly in need of long-term services. As a short-term option to mitigate the rise in legal pressure, long-term facilities could explore ways to work with residents in defining various thresholds of care that are safe, sustainable and economically sound whilst preserving certain aspects of residents’ desired lifestyles. Over the long term, the United States needs to develop innovative options for the provision of long-term care services with a focus on redesigning care for older adults with their input.