Market Insights
Assisted Living Market is likely to witness an impressive CAGR of 10.5% during 2022-2027. Major factors such as an increase in the geriatric population, surge in the demand for proper care of the elderly, a rising trend of nuclear families, and the increasing number of senior citizens are expected to drive the market growth during the forecast period. Furthermore, technological advancements such as smart homes and the development of devices and services such as internet-enabled home monitors, telemedicine, and mobile health apps are likely to fuel the growth of the market over the forecast period.
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Assisted Living Market – Snapshot
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Growth
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10.5% for the next five years
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Major Gender Type
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Women
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Major Age Group Type
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More than 85 Years
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Region with the highest demand
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North America
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Key Players
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ABB Group, Assisted Living Technologies, Inc., Atria Senior Living, Emeritus Corporation, Extendicare, Inc., Ingersoll Rand Plc, Legrand S.A., Panasonic Corporation, Sunrise Senior Living, Inc., and United Technologies Corporation.
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What is Assisted Living?
Assisted living is a home-like setting designed for older adults who require assistance with daily tasks such as meal preparation, medical care, and personal care. Individual rooms, apartments, or shared quarters can all be found in assisted living. They are for seniors who require a higher level of care for their health or well-being. In addition, assisted living promotes a healthy lifestyle and social interaction.
Segment Analysis
Assisted Living Market Share: By Gender Type
Based on the gender type, the market is segmented as men and women. Women are the dominant gender type and are expected to witness significant growth in the market during the forecast period. The growth of the segment is driven by the greater life expectancy of women, their higher rates of disability and chronic health problems, and lower-income as compared to men.
Assisted Living Market Share: By Age Group Type
Based on the age group type, the market is segmented as less than 65 years, 65-74 years, 75-84 years, and more than 85 years. The more than 85 years age group type segment is anticipated to register high growth in the market over the forecast period. Factors such as growing geriatric population in this age group and its increasing demand for assisted living facilities due to major health challenges are driving the growth of the segment.
Assisted Living Market Share: By Region
In terms of regions, North America is expected to be the leading region in the market during the forecast period. The region’s market is driven by the increasing demand for assisted living, improved services, and high-quality care for the elderly. In addition, the growing geriatric population is expected to fuel the regional market growth. Furthermore, the increasing prevalence of target diseases, rise in the practice of independent living of senior citizens, and advancements in assisted living facilities are expected to drive the growth of the market over the forecast period. Asia-Pacific is the fastest-growing region for the assisted living market, on account of the large number of elderly people living in countries such as India, China, and Japan. Europe is also expected to offer substantial growth opportunities during the forecast period.
Market Scope & Segmentation
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Assisted Living Market Research Report - Features
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Market Segmentation
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5
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Regions Covered
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4
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Countries/Sub-Regions Covered
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17
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No. of Figures & Tables
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>150
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Company Profiles
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10
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The assisted living market is segmented into the following categories.
Assisted Living Market Size, Share, & Forecast, by Service Type:
- Cooking (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Personal Care
- Regional Analysis: North America, Europe, Asia-Pacific, and RoW
- Type Analysis: Bathing and Dressing
- Housekeeping and Laundry (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Monitoring Medication (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Assisted Living Market Size, Share, & Forecast, by Facility Type:
- Adult Family Home (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Community-Based Residential Facility (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Residential Care Apartment Complex (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Assisted Living Market Size, Share, & Forecast, by Gender Type:
- Men (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Women (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Assisted Living Market Size, Share, & Forecast, by Age Group Type:
- Less than 65 Years (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- 65-74 Years (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- 75-84 Years (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- More than 85 Years (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Assisted Living Market Size, Share, & Forecast, by Region:
- North America (Country Analysis: the USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to 3 players)
- SWOT analysis of key players (up to 3 players)
Market Segmentation
- Current market segmentation by any one of the facility types by gender type.
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.
