U.S. Assisted Living Facility Market Size to Surpass USD 158.02 Bn by 2032
The U.S. assisted living facility market size was estimated at USD 92.16 billion in 2022 and is expected to surpass around USD 158.02 billion by 2032 and poised to grow at a compound annual growth rate (CAGR) of 5.54% during the forecast period 2023 to 2032.
Key Takeaways:
U.S. Assisted Living Facility Market Report Scope
| Report Attribute | Details |
| Market Size in 2023 | USD 97.27 Billion |
| Market Size by 2032 | USD 158.02 Billion |
| Growth Rate From 2023 to 2032 | CAGR of 5.54% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | West; South; Midwest; Northeast |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Key Companies Profiled | Kindred Healthcare, LLC; Brookdale Senior Living Inc.; Sunrise Senior Living, LLC; Atria Senior Living, Inc.; Five Star Senior Living; Capital Senior Living; Merrill Gardens; Integral Senior Living (ISL); Belmont Village, L.P.; Gardant Management Solutions |
The launch of new assisted living facilities, growing prevalence of chronic diseases, and technological developments are expected to boost the market growth during the forecast period.
The prevalence of chronic diseases is increasing at a significant pace. Along with general age-related disabilities, the elderly suffer from chronic diseases such as cancers, heart problems, diabetes, cerebral palsy, Parkinson's disease, multiple sclerosis, dementia, Alzheimer’s, and mental stress. Hospitalization for chronic conditions can be expensive and often involves unnecessary use of resources, which can otherwise be utilized for patients in critical conditions. ALFs can provide specialized care required by the elderly. Increasing demand for these facilities to accommodate new admissions each year is expected to propel market growth.
A number of the facilities became hotspots for transmission of the novel coronavirus; 42% of the total COVID-19 deaths in the U.S. were ALF residents. To cope with the situation, in March 2020, CMS released guidelines for nursing homes and ALFs to help curb the spread of the COVID-19. These measures include prohibitions on visitors and nonessential staff, daily monitoring for symptoms, screening employees, implementing infection control & cleaning protocols, ensuring social distancing, hiring & training additional employees, adjusting activities, and paying bonuses & overtime. The majority of these facilities were not allowed to accept new residents, and therefore, had no new revenue streams for the additional expenses associated with the COVID-19 virus, which is hampering the market.
Age Insights
An increase in the baby boomer population, rising incidence of brain injury, growing prevalence of target diseases, and technological advancements are major factors contributing to the growth of the market. More than 85 years segment accounted for the largest market share of 52.85% in 2022 and is expected to register the fastest CAGR of 5.66% during the forecast period, while the 75 to 84 age group was the second largest segment in 2022.
In the U.S., the growing geriatric population is seeking ALF services to improve their quality of life. According to the United States Census Bureau, the 75 to 84 age group made up roughly 14.3 million or 29% of the senior population in 2016, which is more than double the number and proportion (6.3 million or 13 percent) of those 85 & older. Around 27% of the population is between the ages of 75 and 84.
According to data published by Aging.com, two million housing facilities will be needed for senior residents for adequate living space by 2040. The concept of continual care retirement communities is gaining traction among seniors with high disposable income. Such 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.
Regional Insights
On the basis of region, the market is categorized into West, South, Midwest, and Northeast. The west region dominated the segment with the largest market share of 41.58% in 2022, which can be attributed to the presence of the highest number of ALFs in the region. The South is expected to witness the fastest growth owing to the increasing geriatric population and rising demand for senior care facilities.
ALFs in the South are evenly distributed among small, medium, and large facilities. Some of the largest senior care organizations, such as Brookdale Senior Living, Inc. and Sunrise Senior Living, Inc. are located in the South. The south region is estimated to register the fastest CAGR of 6.21% from 2023 to 2032. Texas is one of the fastest-growing states in terms of improved living conditions and a number of facilities for senior residents. However, ALFs in certain states of the Southern region are facing a shortage of healthcare workers.
Key Companies & Market Share Insights
The U.S. market for the assisted living facility is consolidated with a presence of a few large and various medium & small service providers. Sunrise Senior Living, Brookdale Senior Living, and Kindred Healthcare, LLC are some of the established ALF providers in the U.S. Service providers are taking initiatives such as the construction of new facilities to strengthen their market presence. For instance, in January 2021, Kindred Healthcare, LLC and Tampa General Hospital initiated the construction of a joint rehabilitation facility as per their joint venture in May 2020.
Some of the key players in the U.S. assisted living facility market include:
Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the U.S. Assisted Living Facility market.
By Age
By Region
Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.1.1 Estimates and Forecast Timeline
1.2 Research Methodology
1.3 Information Procurement
1.3.1 Purchased database:
1.3.2 Nova one advisor Internal Database
1.3.3 Secondary sources
1.3.4 Primary research
1.4 Information or Data Analysis
1.5 Market Formulation & Validation
1.6 Model Details
1.6.1 Commodity flow analysis
1.6.2 Volume price analysis
1.7 List of Secondary Sources
1.8 List of Abbreviations
1.9 Objectives
1.9.1 Objective - 1
1.9.2 Objective - 2
1.9.3 Objective - 3
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Competitive Insights
Chapter 3 Market Variables, Trends, & Scope
3.1 Market Lineage Outlook
3.1.1 Parent market outlook
3.1.2 Related/ancillary market outlook
3.2 Market Dynamics
3.2.1 Market driver analysis
3.2.1.1 Growing geriatric population
3.2.1.2 Rising incidence of brain injury
3.2.1.3 Growing prevalence of target diseases
3.2.1.4 Technological advancments
3.2.2 Market restraint analysis
3.2.2.1 High cost for specialized treatment
3.2.2.2 Limited coverage
3.3 U.S. Assisted Living Facility Market: Business Environment Analysis Tools
3.3.1 PESTEL Analysis
3.3.1.1 Political landscape
3.3.1.2 Economic and social landscape
3.3.1.3 Technology landscape
3.3.2 Porter’s five forces analysis
3.3.2.1 Competitive rivalry: High
3.3.2.2 Threat of new entrants: High
3.3.2.3 Bargaining power of buyers: Moderate
3.3.2.4 Bargaining power of suppliers: Low
3.3.2.5 Threat of substitutes: Low
3.4 Regulatory & Reimbursement Scenario
3.5 Qualitative Analysis: Impact of COVID-19 on Assisted Living Facilities
Chapter 4 U.S. Assisted Living Facility Market: Age Analysis
4.1 U.S. Assisted Living Facility Age Market Share Analysis, 2023 & 2032
4.2 U.S. Assisted Living Facility Age Market: Segment Dashboard
4.2.1 More than 85
4.2.1.1 More than 85 market, 2020 - 2032
4.2.2 75-84
4.2.2.1 75-84 market, 2020 - 2032
4.2.3 65-74
4.2.3.1 65-74 market, 2020 - 2032
4.2.4 Less than 65
4.2.4.1 Less than 65 market, 2020 - 2032
Chapter 5 U.S. Assisted Living Facility Market, Region Analysis, 2020 - 2032
5.1 U.S. Assisted Living Facility Region Market Share Analysis, 2023 & 2032
5.2 U.S. Assisted Living Facility Region Market: Segment Dashboard
5.2.1 West
5.2.1.1 West market, 2020 - 2032
5.2.2 South
5.2.2.1 South market, 2020 - 2032
5.2.3 Midwest
5.2.3.1 Midwest market, 2020 - 2032
5.2.4 Northeast
5.2.4.1 Northeast market, 2020 - 2032
Chapter 6 U.S. Assisted Living Facility Market- Competitive Qualitative Analysis
6.1 Recent Developments & Impact Analysis, by Key Market Participants
6.2 Strategic Framework/Competition Categorization Key Innovators, Market Leaders, Emerging Players
6.3 Major Deals & Strategic Alliances Analysis
6.3.1 Mergers & acquisitions and joint ventures
6.3.2 Licensing, partnerships and collaborations
6.4 Heat Map Analysis/Market Position Analysis
6.5 List of Major Senior Care Providers
6.6 Key Company Profiles: National Comprehensive Rehabilitation Companies
6.6.1 Kindred Healthcare, LLC.
6.6.1.1 Company overview
6.6.1.2 Financial performance
6.6.1.3 Service benchmarking
6.6.1.4 Strategic initiatives
6.6.1.5 SWOT analysis
6.6.2 Brookdale Senior Living Inc
6.6.2.1 Company overview
6.6.2.2 Financial performance
6.6.2.3 Services benchmarking
6.6.2.4 Strategic initiatives
6.6.2.5 SWOT analysis
6.6.3 Sunrise Senior Living, LLC Sunrise Carlisle LP)
6.6.3.1 Company overview
6.6.3.2 Financial performance
6.6.3.3 Services benchmarking
6.6.3.4 Strategic initiatives
6.6.3.5 SWOT analysis
6.6.4 Atria Senior Living, Inc.
6.6.4.1 Company overview
6.6.4.2 Financial performance
6.6.4.3 Services benchmarking
6.6.4.4 Strategic Initiatives
6.6.4.5 SWOT analysis
6.6.5 Five Star Senior Living
6.6.5.1 Company overview
6.6.5.2 Financial performance
6.6.5.3 Product benchmarking
6.6.5.4 Strategic initiatives
6.6.5.5 SWOT analysis
6.6.6 Capital Senior Living
6.6.6.1 Company overview
6.6.6.2 Financial performance
6.6.6.3 Services benchmarking
6.6.6.4 Strategic initiatives
6.6.6.5 SWOT analysis
6.6.7 Merrill Gardens
6.6.7.1 Company overview
6.6.7.2 Financial performance
6.6.7.3 Services benchmarking
6.6.7.4 Strategic initiatives
6.6.8 Integral Senior Living ISL)
6.6.8.1 Company overview
6.6.8.2 Financial performance
6.6.8.3 Services benchmarking
6.6.8.4 Strategic initiatives
6.6.9 Belmont Village, L.P.
6.6.9.1 Company overview
6.6.9.2 Financial performance
6.6.9.3 Services benchmarking
6.6.9.4 Strategic initiatives
6.6.10 Gardant Management Solutions
6.6.10.1 Company overview
6.6.10.2 Financial performance
6.6.10.3 Services benchmarking
6.6.10.4 Strategic Initiatives
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers