U.S. Assisted Living Facilities Market - Focused Insights 2023-2028

Published Date :  OCT 2023

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The U.S. assisted living facilities market report is your guide to understanding the current landscape of this industry, covering not just the market's size but also providing crucial forecasts and insights that will shape your perspective on the future of the assisted living facilities market.

The U.S. assisted living facilities market was valued at USD 97.60 billion in 2022 and is expected to reach USD 133.42 billion by 2028 with a CAGR of 5.35% during the forecast period. The surge in demand for senior housing can be attributed to the growing population of older adults, leading to a heightened requirement for high-quality housing options tailored to their needs. This sustained and expanding demand has served as a stable pillar supporting various senior housing properties, effectively cushioning operators from the impacts of economic fluctuations, escalating expenses, and challenging conditions in the capital market. Moreover, the demand for assisted living facilities is increasing; the market, especially in countries like the U.S., primarily focuses on reducing the burden for elderly people by using Medicaid and Medicare services. This report offers market size & forecast data for the U.S. assisted living facilities market. The revenue generated from the service offerings is included in the report. This report provides a comprehensive and current US Assisted Living Facilities market scenario, including the market size, anticipated market forecast, relevant market segmentations, and industry trends.

Constant development and launch of innovative designs & devices are important for vendors operating in this highly competitive market like the U.S. to achieve healthy sales growth and increase market share. The U.S. assisted living facilities market report offers both the demand and supply aspects of the market and profiles & examines leading companies and other prominent players operating in the market. The study considers a detailed scenario of the present Assisted Living Facilities market and its market dynamics for 2023−2028 and covers a detailed overview of several market growth enablers, restraints, and trends.

MARKET DEFINITION

An assisted living facility (ALF) is a type of long-term care facility that provides housing and personal care support to a group of full-time. People in the assisted living facility mostly require ongoing medical care and trained nursing staff to provide services.

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Summary

  • In the U.S., the demand for assisted living facilities market is rising due to multiple factors, including the rising baby boomers, aging population, healthcare expenditure, and preference for independent living.
  • The chain-affiliated ownership segment dominated the U.S. assisted living facilities market in 2022. These are part of a larger organization or corporation known as a chain or senior living chain. They operate across different locations under the same brand name, providing several advantages, from resources to senior care management under the chain's umbrella. With the rising demand for assisted living due to the rising number of elderly individuals, vendors are also focusing on developing advanced home care products and new infrastructure in assisted living to please the elders.
  • The 85 and above age group held the most prominent U.S. assisted living facilities market share in 2022. The aging of the overall population is a significant factor contributing to a larger pool of potential residents for senior living communities. With life expectancy and healthcare improvements, more individuals are now living into their late 80s and beyond.
  • The women's gender segment dominated the assisted living facilities market in the United States in 2022 and is expected to witness the highest segmental CAGR growth during the forecast period. As women outlive men, they exhibit a higher tendency to utilize healthcare services; moreover, having at least one chronic medical condition in an 85-year-old woman needs the care the assisted living facilities give.
  • The Western region dominated the U.S. assisted living facilities market compared to other areas, occupying over 41% of the market share. There is a significant increase in the percentage of the elderly population in the Western region, and the region has a strong presence of assisted living facilities.

THE FOLLOWING MARKET SEGMENT ANALYSIS IS INCLUDED IN THIS REPORT

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

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Please Note : Arizton critically analyzes the industry and market sectors to provide reliable and valuable market intelligence. The research-based knowledge empowers clients to formulate intelligent strategies, resulting in creative, cost-effective, and efficient execution.

Table Of Contents

  • Executive Summary
  • Key Findings

  • US: Projected Revenue of Assisted Living Facilities Market (2022-2028; $Billions)

  • US: Projected Revenue by Ownership (2022-2028; $Billions)
  • Chain Affiliated
  • Independent Owned
  • US: Projected Revenue by Age Group (2022-2028; $Billions)
  • Aged 85 & Above
  • Aged 75-84 Years
  • Aged 60-74 Years
  • US: Projected Revenue by Gender (2022-2028; $Billions)
  • Women
  • Men
  • US: Projected Revenue by Geography (2022-2028; $Billions)
  • West Region
  • South Region
  • Mid-West Region
  • Northeast Region

  • Assisted Living Facilities Market Opportunities & Trends
  • Assisted Living Facilities Market Drivers
  • Assisted Living Facilities Market Constraints

  • Assisted Living Facilities Market - Competitive Landscape
  • Assisted Living Facilities Market – Key Vendor Profiles
  • Assisted Living Facilities Market - Other Prominent Vendors
  • Assisted Living Facilities Market - Key Strategic Recommendations

  • Research Methodology
  • Abbreviations
  • About Arizton

Exhibit 1: Projected Revenue of Assisted Living Facilities in the US (2022-2028)

Exhibit 2: Market Size & Forecast – Chain Affiliated Ownership (2022-2028)

Exhibit 3: Market Size & Forecast - Independent-Owned (2022-2028)

Exhibit 4: Market Size & Forecast - 85 and Above (2022-2028)

Exhibit 5: Market Size & Forecast - 75-84 years (2022-2028)

Exhibit 6: Market Size & Forecast - 60-74 years (2022-2028)

Exhibit 7: Market Size & Forecast – Women (2022-2028)

Exhibit 8: Market Size & Forecast - Men (2022-2028)

Exhibit 9: Market Size & Forecast - West Region (2022-2028)

Exhibit 10: Market Size & Forecast - South Region (2022-2028)

Exhibit 11: Market Size & Forecast - Mid-West Region (2022-2028)

Exhibit 12: Market Size & Forecast - Northeast Region (2022-2028)

Table 1: Key Market Trends in Assisted Living Facilities Market

Table 2: Key Market Enablers in Assisted Living Facilities Market

Table 3: Key Market Constraints in Assisted Living Facilities Market

Table 4: Strategic Recommendations in Assisted Living Facilities Market

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Frequently Asked Questions

The U.S. assisted living facilities market was valued at USD 97.60 billion in 2022 and is expected to reach USD 133.42 billion by 2028.

The U.S. assisted living facilities market is expected to grow at a CAGR of 5.35% during the forecast period.

The demand for assisted living facilities in the U.S. is rising due to multiple factors, including the increasing number of baby boomers, the aging population, healthcare expenditure, and a preference for independent living.

The Western region dominated the U.S. assisted living facilities market.

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