The U.S. assisted living facility market size was valued at USD 83.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.3% from 2021 to 2027. The growing geriatric population and the rising incidence of brain injuries are expected to boost the growth of the market. The growing prevalence of target diseases and advancements in assisted living facilities are expected to drive the market over the forecast period. The rise in the geriatric population is expected to be a major market driver over the forecast period. According to the National Institute on Aging (NIA), globally, around 8.5% of the population is aged 65 years and above. According to the data published by Aging.com, two million housing facilities will be needed for senior residents for adequate living space by 2040.
The concept of continual care retirement communities is gaining traction among seniors with high disposable income. These retirement communities are known to cater to people aged 50 years and above. The idea behind these communities is to prevent seniors from relocating when additional care is needed. As a result, the less than 65 years segment is likely to receive a moderate boost over the forecast period.
Technological developments for ALFs are expected to propel the growth of the U.S. market. The development of sophisticated and easy-to-use devices and services, such as internet-enabled home monitors, telemedicine, and apps for mobile health, is likely to boost the market growth over the forecast period. For instance, an electronic medication adherence system enables tracking patients’ medication schedules, and whether they are following them. Caregivers can program these devices or software to alert individuals to take their medicines. Hence, the development of sophisticated devices and equipment for ALFs is likely to propel the market growth during the forecast period.
Based on the nature of the population served and service provision, residents at assisted living facilities may be at a high risk of contracting COVID-19. According to the CDC, in the early months of the pandemic, around 2.1 million people lived in residential care or ALFs and nursing homes, which represents 0.6% of the U.S. population. A number of these facilities became hotspots for the transmission of the novel coronavirus and 42% of the total COVID-19 deaths in the U.S. were ALF residents.
The U.S. market for the assisted living facility is characterized by the growing geriatric population and initiatives such as merger & acquisition, joint ventures, and partnerships, by market players in order to increase their market presence. For instance, in August 2020, Integral Senior Living entered into a partnership with Investcor Development, along with Bow River Capital and SMC Construction, to develop a new assisted living and memory care community at Sparks, Nevada. Some prominent players in the U.S. assisted living facility market include:
Atria Senior Living, Inc.
Kindred Healthcare, Inc.
Brookdale Senior Living Solutions
Integral Senior Living
Five Star Senior Living
Sunrise Senior Living, Inc.
Merrill Gardens
Capital Senior Living
Gardant Management Bradley
Belmont Village, L.P.
Report Attribute |
Details |
Market size value in 2021 |
USD 87.4 billion |
Revenue forecast in 2027 |
USD 119.2 billion |
Growth Rate |
CAGR of 5.3% from 2021 to 2027 |
Base year for estimation |
2020 |
Historical data |
2016 - 2019 |
Forecast period |
2021 - 2027 |
Quantitative units |
Revenue in USD billion and CAGR from 2021 to 2027 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Country scope |
The U.S. |
Key companies profiled |
Atria Senior Living, Inc.; Kindred Healthcare, Inc.; Brookdale Senior Living Solutions; Integral Senior Living; Five Star Senior Living; Sunrise Senior Living, Inc.; Merrill Gardens; Capital Senior Living; Gardant Management Bradley; Belmont Village, L.P. |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027.
b. The U.S. ALF market size was estimated at USD 83.2 billion in 2020 and is expected to reach USD 87.4 billion in 2021.
b. The U.S. ALF market is expected to grow at a compound annual growth rate of 5.3% from 2021 to 2027 to reach USD 119.2 billion by 2027.
b. The women dominated the gender segment of the U.S. ALF market with a share 71.2% of in 2019. This is attributable to the greater life expectancy of women, and higher rates of disability and chronic health problems.
b. Some key players operating in the U.S. ALF market include Kindred Healthcare, Inc.; Atria Senior Living, Inc.; Integral Senior Living; Brookdale Senior Living Solutions; Five Star Senior Living; Sunrise Senior Living, Inc.; Capital Senior Living; Merrill Gardens; Gardant Management Bradley; and Belmont Village Senior Houston.
b. Key factors that are driving the U.S. ALF market growth include increasing awareness and desire of consumers to age in home-based services and lower cost of assisted living facilities (ALFs) as compared to nursing homes.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.