Assisted Living
Market: Overview
The assisted
living market
The report delves
into demand dynamics, growth opportunities, and regional outlook of the
assisted living market for the 2020 – 2030 forecast period. The pinpoint
analysis of the assisted living market, along with qualitative insights
presented in this report serves as a valuable guide for existing as well as new
participants in the said market.
Assisted Living
Market: Competitive Landscape
The presence of a
large number of small, mid-size, and large players makes the assisted living
market highly competitive. However, large players that have global presence
hold major share in the assisted living market. Hefty investments made by large
players have led to development of world-class assisted living communities in
some large cities of the world. Senior citizens who retire with handsome
retirement plans mostly opt for high-end assisted living communities for a
comfortable retired life.
On the other hand,
small players who have regional presence are gaining from changing family
structures of traditional societies. Players having regional presence are
developing state-of-the-art assisted living communities for senior citizens
with handsome retirement plans.
Top players having
presence in the assisted living market include Atria Senior Living, Emeritus
Corporation, Genesis Healthcare, HCR Manor Care Inc., Sunrise Senior Living
Inc., Brookdale Senior Living, Extendicare Inc., Golden Living, and Merrill
Gardens.
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Assisted Living
Market: Key Trends
Rising number of
senior citizens and elderly population in most parts of the world paves way for
growth of assisted living market. Difficulties of maintaining homes, along with
responsibilities for everyday functioning has been a key reason for popularity
of assisted living in Western countries with mindset of independent living.
Availability of assisted living in various classes to suit comfort, budget of
individuals allows individuals to select place of their choice. Full-serviced
dining, round-the-clock doctor on-call, park, library, and entertainment room
are some common features of assisted living communities in Western countries.
On the premises cleaning staff, handy man, electrician are some other features
of good quality assisted living communities in Western countries.
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Change in family
structure in traditional societies is paving way for growth of assisted living
market in developing countries. Individuals and couples are increasingly preferring
to live independently that gives them the space, and freedom to do things they
are interested in. With mutual understanding with children, and respect for
each other’s space, elderly parents in urban areas of developing countries are
increasingly moving into assisted living. Comfort and care like home, company
of individuals of similar, entertainment, religious services are attracting
senior citizens to assisted living communities in these regions.
Assisted Living
Market: Regional Assessment
Asia Pacific is
expected to emerge as a significant region in the assisted living market in the
years ahead. Rising practices of nuclear families in traditional societies of
the region is resulting in demand for assisted living for senior citizens.
Migration to other countries for work is another factor individuals in
developing counties of the region are seeking assisted living for elderly
parents. Comfortable living, round-the-clock doctor on-call, entertainment are
some of the features of high-end assisted living that have come up in recent
years in urban areas.
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North America and
Europe are key regions in the assisted living market. Long-established
practices of nuclear family setup is a key factor behind growth of assisted
living market in these regions. Practices of independent living of senior
citizens, elderly couples accounts for high demand for assisted living
communities in these regions.
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