U.S. Assisted Living Facility Market Size, Share & Trends Report

U.S. Assisted Living Facility Market Size, Share & Trends Analysis Report By Gender (Women, Men), By Age (More Than 85 Years, 75 - 84 Years, 65 - 74 Years, Less Than 65 Years), And Segment Forecasts, 2020 - 2027

  • Published Date: Nov, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68038-060-6
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 69

Report Overview

The U.S. assisted living facility market size was valued at USD 79.3 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 5.3% from 2020 to 2027. The growing geriatric population and rising incidence of brain injuries are expected to drive the growth of the market. The growing prevalence of target diseases and advancements in assisted living facilities (ALFs) are expected to boost market growth over the forecast period.

U.S. assisted living facility (ALF) market size, by gender, 2016 - 2027, (USD Billion)

The rise in the geriatric population is expected to be a major factor driving the market for assisted living facilities over the forecast period. According to the National Institute on Aging (NIA), globally, around 8.5% of the population is aged 65 and above. According to 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 assisted living facilities are expected to propel market growth in the country. 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 for the assisted living facility over the forecast period. For instance, an electronic medication adherence system enables tracking a patient’s medication schedule and whether they are following it. Caregivers can program these devices or software to alert the individual to take their medicines. Hence, the development of sophisticated devices and equipment for assisted living facilities is likely to propel the market growth during the forecast period.

Gender Insights

Women dominated the gender segment and accounted for the largest revenue share of more than 70.0% in 2019 in the market for assisted living facilities. The growth of the segment is characterized by a better life expectancy of women, chronic health problems, and higher rates of disability & lower income compared to men.

Age Insights

The more than 85 years of age segment dominated the market for assisted living facilities in 2019 and accounted for the largest revenue share of 51.9%. This growth is due to the increasing geriatric population and the rising incidence of brain injuries.

U.S. assisted living facility (ALF) market share, by age, 2019 (%)

The 75-84 years segment is expected to witness a lucrative growth rate of 5.4% during the forecast period in the market for the assisted living facility. As per data published by the Population Reference Bureau, the number of Americans who are 65 years of age and above is projected to reach 95.0 million by 2060, from 52.0 million in 2018.

Key Companies & Market Share Insights

The U.S. assisted living facility (ALF) market is characterized by the growing geriatric population and initiatives such as mergers and acquisitions, joint ventures, and partnerships by market players 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 of the 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.

U.S. Assisted Living Facility Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 83.2 billion

Revenue forecast in 2027

USD 119.2 billion

Growth Rate

CAGR of 5.3%

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD billion and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company share, competitive landscape, growth factors & trends

Segments covered

Gender, age

Country scope

U.S.

Key companies profiled

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; Belmont Village, L.P.

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Segments Covered in the Report

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For this study, Grand View Research has segmented the U.S. assisted living facility market report based on gender and age:

  • Gender Outlook (Revenue, USD Billion, 2016 - 2027)

    • Women

    • Men

  • Age Outlook (Revenue, USD Billion, 2016 - 2027)

    • More than 85 years

    • 75-84 years

    • 65-74 years

    • Less than 65 years

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