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

U.S. Assisted Living Facility Market Size, Share & Trends Analysis Report, And Segment Forecasts, 2021 - 2027

  • Published Date: Jan, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68038-060-6
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 69

Report Overview

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.

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

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.

Key Companies & Market Share Insights

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.

U.S. Assisted Living Facility Market Report Scope

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.

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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 and opportunities in each of the sub-segments from 2016 to 2027.

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