DUBLIN, Oct. 25, 2023 /PRNewswire/ — The “US Assisted Living Facilities Market – Focused Insights 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The US Assisted Living Facilities Market was valued at $97.60 billion in 2022 and is expected to reach $133.42 billion by 2029 with a CAGR of 5.35%
The US Assisted Living Facilities market is experiencing robust growth, driven by several factors including the increasing number of baby boomers, a rising aging population, higher healthcare expenditure, and a growing preference for independent living. The market is currently characterized by substantial activity, with a promising outlook for the future.
As of 2022, the dominant segment in the assisted living facilities market was women, accounting for an impressive 71.70% occupancy rate. This segment is anticipated to maintain its growth momentum, with a projected CAGR of 5.84% during the forecast period. Women tend to outlive men and exhibit a higher inclination towards utilizing healthcare services.
Furthermore, older adults aged 85 years and above constituted a significant portion, contributing to 52.37% of assisted living facilities in 2022. This demographic is expected to continue driving market growth, with a projected CAGR of 5.71% during the forecast period, as they often require more comprehensive assistance and quality care.
Chain-affiliated ownership also played a pivotal role in the market, dominating with a 55.29% share in 2022. This segment is forecasted to grow at a CAGR of 5.26% as larger organizations maintain their presence, attracting older individuals seeking these communities.
Geographically, the Western region emerged as the market leader, commanding 41.12% of the market share in 2022. This region is poised for continued growth, with a projected CAGR of 5.71% during the forecast period. The Western region has witnessed a significant increase in the percentage of the elderly population, contributing to its dominance.
The comprehensive market study covers the US Assisted Living Facilities market for 2023-2028, providing insights into market dynamics, growth enablers, restraints, and trends. The report offers a thorough analysis of both demand and supply aspects of the market and profiles leading companies and key players operating in the industry.
VENDORS LIST
- AlerisLife
- Atria Senior Living
- Brookdale Senior Living
- Enlivant Living
- Aegis Living
- ALG Senior Living
- Allegro
- Arbor Company
- Avidor Living
- Avista Senior Living
- Brightview Senior Living
- Sonida Senior Living
- Civitas Senior Living
- CenturyPark Associates
- Clearwater Living
- Crescent Senior Living
- Discovery Senior Living
- Eddy Senior Living
- Embassy Healthcare Services
- Erickson Senior Living
- Frontier Management
- Gardant Management Solutions
- Genesis Healthcare
- Integral Senior Living
- Kisco Senior Living
- Leisure Care
- Life Care Services
- MBS Senior Living
- Meridian Senior Living
- Merrill Garden
- Northbridge Companies
- Northstar Senior Living
- Oakmont Senior Living
- Pathway to Living
- Pegasus Senior Living
- Pinnacle Senior Living
- Prestige Care
- Senior Lifestyle
- Senior Resource Group
- Sinceri Senior Living
- Spring Arbor Senior Living
- Sunrise Senior Living
- Trilogy Health Services
- Vi Living
- Waltonwood Senior Living
- Watermark Retirement Communities
- Americare Senior Living
- Benchmark Senior Living
- Belmont Village
- Pacifica Senior Living
MARKET STRUCTURE
- Market Dynamics
- Competitive Landscape of Assisted Living Facilities Market
- Key Vendors
- Other Prominent Vendors
PRODUCT SEGMENTATION AND FORECAST
By Ownership
- Chain Affiliated
- Independent Owned
By Age Group
- Aged 60-74
- Aged 75-84
- Aged 85 & Above
By Gender
- Men
- Women
By Geography
- West
- South
- Mid-West
- Northeast
For more information about this report visit https://www.researchandmarkets.com/r/xw5mq
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