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Senior Living Market by Age Group, Service, and Geography - Forecast and Analysis 2023-2027

  • Published: Dec 2022
  • Pages: 152
  • SKU: IRTNTR74821
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The senior living market is estimated to grow at a CAGR of 5.65% between 2022 and 2027. The size of the market is forecast to increase by USD 91.37 billion. The growth of the market depends on several factors, including the aging baby boomer population, benefits offered by retirement communities, and rising life expectancy. 

This report extensively covers market segmentation by age group (85 or older, 75 to 84, 65 to 74, and 60 to 64), service (assisted living, independent living, and CCRC), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Senior Living Market During the Forecast Period?

Senior Living Market Size

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Parent Market Analysis

Technavio categorizes the global senior living market as a part of the global specialized consumer services market within the global diversified consumer services market. The parent global specialized consumer services market covers revenue generated by the consumer service providers, including residential services, home security services, legal services, personal services, renovation and senior living, consumer auction services, wedding services, and funeral services. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Senior Living Market: Key Drivers, Trends, Challenges, and Customer Landscape

The aging baby boomer population is notably driving the market growth, although factors such as the low life savings of baby boomers may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Senior Living Market Driver

The aging baby boomer population is notably driving the market growth. In the current global demographic scenario, the number of people aged 65 and above in the world population is increasing, which is one of the most important demographic trends worldwide. Baby boomers are people born between 1946 and 1964. Large age groups increase the need for care as the population ages.

Obesity among the elderly is also on the rise, increasing the risk of disability and chronic diseases such as hypertension and diabetes. In such cases, it is difficult for family members to take care of the elderly. In such situations, the most appropriate options for a comfortable and healthy life are retirement communities that offer assisted living facilities with certified medical care. As a result, the demand for nursing home services is increasing. Therefore, such factors will drive the global market growth during the forecast period.

Significant Senior Living Market Trend

Technological advances are an emerging trend in the market. This is due to the increasing penetration of the internet, which has led to the emergence of online platforms, mobile applications, and mHealth. The demand for assistive services such as mobile apps, mobile devices, tracking devices, communication devices, and smart alarms is increasing. Using these services, nurses can monitor, record and monitor patients and communicate with doctors and other healthcare professionals. Among these technologies, patient data management on computers and mobile phones is becoming more common in long-term care facilities.

Applications on mobile health and mHealth that create mobile health records (MHRs) and electronic health records (EHRs) are some of the biggest technological developments. MHRs and EHRs record patient-related information such as weight, diet, exercise, blood pressure (BP), blood sugar, and cholesterol, which are updated by the user. Other technologies, such as alarm integration technologies, are used to alert providers and caregivers in emergency situations. Thus, the widespread adoption of such technologically advanced solutions will fuel the growth of the global market during the forecast period.

Major  Senior Living Market Challenge

Low life savings of baby boomers are major challenges impeding the market. More baby boomers are retiring every day. Most of them do not have enough pension funds. Many people in their 50s and 70s have not planned for retirement, so they have little effort to ensure a comfortable life after retirement. However, since the financial crisis of 2008, there has been a shift in financial awareness, especially among people living in the United States. With the economic crisis, many realized that emergency savings could help them access long-term care services after retirement and thus take advantage of several financial opportunities.

The scarcity of pension funds makes it difficult to invest in retirement communities, as even basic retirement communities require significant initial investments. Limited financial knowledge is also a challenge to realize the criticality of saving, especially in emergency or retirement funds. Thus, the low life expectancy of baby boomers is likely to limit the growth of the global market during the forecast period.

Key Senior Living Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Senior Living Market Share by Geography

Global Senior Living Market Customer Landscape

Who are the Major Senior Living Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Antara Assisted Service Ltd. - The company operates in one segment. The company under this segment offers solar energy storage systems and green energy. The key offerings of the company include energy storage for microgrids.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • AbsoluteCare Inc.
  • Affinity Living Communities
  • Brookdale Senior Living Inc.
  • Covenant Living Communities and Services
  • Enterprise Retirement Living Ltd.
  • Erickson Senior Living Management LLC
  • Extendicare Canada Inc.
  • Genesis Healthcare Inc.
  • Golden Heights Personal Care Home
  • Grand world Elder Care
  • HC One Ltd.
  • Lendlease Corp.
  • Life Care Centers of America Inc.
  • Merrill Gardens
  • ProMedica Health System Inc.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Senior Living Market?

The market share growth by the 85 years or older segment will be significant during the forecast period. People in the age group of 85 years and above need more services due to aging, common diseases, as well as cognitive, psychiatric, and social changes.

Senior Living Market Size

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The 85 years or older segment was valued at USD 119.67 billion in 2017 and continued to grow until 2021.  About one-half of adults over the age of 85 years have a hearing impairment. Speech processing can be hampered by mild hearing loss, especially if speech is spoken rapidly or if there are many talkers in a large room, creating reverberant noise. Therefore, environments where many people gather, are those where verbal communication impairments are most noticeable. The apparent relationship between hearing loss and depression, cognitive deterioration, and deteriorating quality of life is mediated by increased social isolation. As people become older and age, visual acuity deteriorates more quickly. This consequently makes assistive living or senior living facilities more necessary. Thus, such factors drive the growth of the 85 or older segment in the global senior living market during the forecast period.

Which are the Key Regions for the Senior Living Market?

Senior Living Market Share by Geography

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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The market is promising in North America, and the region exhibits a high market potential that provides significant investment opportunities for vendors. Countries such as the US will significantly require retirement housing, along with other retirement care services, during a prolonged period to meet the rising demand in the region, which is primarily attributed to the number of baby boomers going into retirement.

The senior living market in the region is also influenced by the financial support provided by government agencies. For instance, in the US, based on the Section 202 Program, federal government funding is available to low-income elderly people, which allows them to avail of the assisted living option. In addition, the Senior Assisted Living Group Home Subsidy program provides access to assisted living in small group homes in Maryland. Such government support can accelerate the growth of the market in the region during the forecast period.

The outbreak of COVID-19 in 2020 brought up certain challenges to the growth of the senior living market in the region. However, in 2021, most business and industrial activities resumed with the relaxation of the stringent lockdown restrictions due to the availability of COVID-19 vaccines which enhanced the healthcare system across the region and improved senior living services in North America. Moreover, the expansion of home- and community-based services (HCBS) is leading to the development of nursing home care centers, which is spurring the demand for senior living services across the region. Such factors will propel the growth of the senior living services market in the region during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Age Group (85 or older, 75 to 84, 65 to 74, and 60 to 64), Service (Assisted living, Independent living, and CCRC), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).

  • Age Group Outlook (USD Billion, 2017 - 2027)
    • 85 or older
    • 75 to 84
    • 65 to 74
    • 60 to 64
  • Service Outlook (USD Billion, 2017 - 2027)
    • Assisted living
    • Independent living
    • CCRC
  • Region Outlook (USD Billion, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America
      • Chile
      • Argentina
      • Brazil

Senior Living Market Scope

Report Coverage

Details

Page number

152

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.65%

Market growth 2023-2027

USD 91.37 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

5.13

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 39%

Key countries

US, Canada, China, France, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AbsoluteCare Inc., Affinity Living Communities, Antara Assisted Service Ltd., Brookdale Senior Living Inc., Covenant Living Communities and Services, Enterprise Retirement Living Ltd., Erickson Senior Living Management LLC, Extendicare Canada Inc., Genesis Healthcare Inc., Golden Heights Personal Care Home, Grand world Elder Care, HC One Ltd., Lendlease Corp., Life Care Centers of America Inc., Merrill Gardens, ProMedica Health System Inc., Senior Lifestyle, Sunrise Senior Living LLC, Utsav Care Homes, and Wickshire Senior Living

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Senior Living Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the senior living market size between 2023 and 2027
  • Precise estimation of the senior living market size and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the industry across North America, Europe, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of senior living market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Age Group
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Service
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global senior living market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global senior living market 2017 - 2021 ($ billion)
    • 4.2 Service Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Service Segment 2017 - 2021 ($ billion)
    • 4.3 Age group Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Age group Segment 2017 - 2021 ($ billion)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Age Group

    • 6.1 Market segments
      • Exhibit 30: Chart on Age Group - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Age Group - Market share 2022-2027 (%)
    • 6.2 Comparison by Age Group
      • Exhibit 32: Chart on Comparison by Age Group
      • Exhibit 33: Data Table on Comparison by Age Group
    • 6.3 85 or older - Market size and forecast 2022-2027
      • Exhibit 34: Chart on 85 or older - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 35: Data Table on 85 or older - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 36: Chart on 85 or older - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on 85 or older - Year-over-year growth 2022-2027 (%)
    • 6.4 75 to 84 - Market size and forecast 2022-2027
      • Exhibit 38: Chart on 75 to 84 - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 39: Data Table on 75 to 84 - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 40: Chart on 75 to 84 - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on 75 to 84 - Year-over-year growth 2022-2027 (%)
    • 6.5 65 to 74 - Market size and forecast 2022-2027
      • Exhibit 42: Chart on 65 to 74 - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 43: Data Table on 65 to 74 - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 44: Chart on 65 to 74 - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on 65 to 74 - Year-over-year growth 2022-2027 (%)
    • 6.6 60 to 64 - Market size and forecast 2022-2027
      • Exhibit 46: Chart on 60 to 64 - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 47: Data Table on 60 to 64 - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 48: Chart on 60 to 64 - Year-over-year growth 2022-2027 (%)
      • Exhibit 49: Data Table on 60 to 64 - Year-over-year growth 2022-2027 (%)
    • 6.7 Market opportunity by Age Group
      • Exhibit 50: Market opportunity by Age Group ($ billion)

    7 Market Segmentation by Service

    • 7.1 Market segments
      • Exhibit 51: Chart on Service - Market share 2022-2027 (%)
      • Exhibit 52: Data Table on Service - Market share 2022-2027 (%)
    • 7.2 Comparison by Service
      • Exhibit 53: Chart on Comparison by Service
      • Exhibit 54: Data Table on Comparison by Service
    • 7.3 Assisted living - Market size and forecast 2022-2027
      • Exhibit 55: Chart on Assisted living - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 56: Data Table on Assisted living - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 57: Chart on Assisted living - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on Assisted living - Year-over-year growth 2022-2027 (%)
    • 7.4 Independent living - Market size and forecast 2022-2027
      • Exhibit 59: Chart on Independent living - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 60: Data Table on Independent living - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 61: Chart on Independent living - Year-over-year growth 2022-2027 (%)
      • Exhibit 62: Data Table on Independent living - Year-over-year growth 2022-2027 (%)
    • 7.5 CCRC - Market size and forecast 2022-2027
      • Exhibit 63: Chart on CCRC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 64: Data Table on CCRC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 65: Chart on CCRC - Year-over-year growth 2022-2027 (%)
      • Exhibit 66: Data Table on CCRC - Year-over-year growth 2022-2027 (%)
    • 7.6 Market opportunity by Service
      • Exhibit 67: Market opportunity by Service ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 69: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 70: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 71: Chart on Geographic comparison
      • Exhibit 72: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2022-2027
      • Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 APAC - Market size and forecast 2022-2027
      • Exhibit 81: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 82: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 83: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 China - Market size and forecast 2022-2027
      • Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.10 Canada - Market size and forecast 2022-2027
      • Exhibit 101: Chart on Canada - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 102: Data Table on Canada - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 103: Chart on Canada - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on Canada - Year-over-year growth 2022-2027 (%)
    • 9.11 Germany - Market size and forecast 2022-2027
      • Exhibit 105: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 106: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 107: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 108: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.12 France - Market size and forecast 2022-2027
      • Exhibit 109: Chart on France - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 110: Data Table on France - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 111: Chart on France - Year-over-year growth 2022-2027 (%)
      • Exhibit 112: Data Table on France - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 113: Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 114: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 115: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 116: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 117: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 118: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 119: Matrix on vendor position and classification
            • 12.3 Affinity Living Communities
              • Exhibit 120: Affinity Living Communities - Overview
              • Exhibit 121: Affinity Living Communities - Product / Service
              • Exhibit 122: Affinity Living Communities - Key offerings
            • 12.4 Brookdale Senior Living Inc.
              • Exhibit 123: Brookdale Senior Living Inc. - Overview
              • Exhibit 124: Brookdale Senior Living Inc. - Business segments
              • Exhibit 125: Brookdale Senior Living Inc. - Key offerings
              • Exhibit 126: Brookdale Senior Living Inc. - Segment focus
            • 12.5 Covenant Living Communities and Services
              • Exhibit 127: Covenant Living Communities and Services - Overview
              • Exhibit 128: Covenant Living Communities and Services - Product / Service
              • Exhibit 129: Covenant Living Communities and Services - Key offerings
            • 12.6 Enterprise Retirement Living Ltd.
              • Exhibit 130: Enterprise Retirement Living Ltd. - Overview
              • Exhibit 131: Enterprise Retirement Living Ltd. - Product / Service
              • Exhibit 132: Enterprise Retirement Living Ltd. - Key offerings
            • 12.7 Erickson Senior Living Management LLC
              • Exhibit 133: Erickson Senior Living Management LLC - Overview
              • Exhibit 134: Erickson Senior Living Management LLC - Product / Service
              • Exhibit 135: Erickson Senior Living Management LLC - Key offerings
            • 12.8 Extendicare Canada Inc.
              • Exhibit 136: Extendicare Canada Inc. - Overview
              • Exhibit 137: Extendicare Canada Inc. - Business segments
              • Exhibit 138: Extendicare Canada Inc. - Key offerings
              • Exhibit 139: Extendicare Canada Inc. - Segment focus
            • 12.9 Genesis Healthcare Inc.
              • Exhibit 140: Genesis Healthcare Inc. - Overview
              • Exhibit 141: Genesis Healthcare Inc. - Business segments
              • Exhibit 142: Genesis Healthcare Inc. - Key news
              • Exhibit 143: Genesis Healthcare Inc. - Key offerings
              • Exhibit 144: Genesis Healthcare Inc. - Segment focus
            • 12.10 HC One Ltd.
              • Exhibit 145: HC One Ltd. - Overview
              • Exhibit 146: HC One Ltd. - Product / Service
              • Exhibit 147: HC One Ltd. - Key offerings
            • 12.11 Lendlease Corp.
              • Exhibit 148: Lendlease Corp. - Overview
              • Exhibit 149: Lendlease Corp. - Business segments
              • Exhibit 150: Lendlease Corp. - Key offerings
              • Exhibit 151: Lendlease Corp. - Segment focus
            • 12.12 Life Care Centers of America Inc.
              • Exhibit 152: Life Care Centers of America Inc. - Overview
              • Exhibit 153: Life Care Centers of America Inc. - Product / Service
              • Exhibit 154: Life Care Centers of America Inc. - Key offerings
            • 12.13 ProMedica Health System Inc.
              • Exhibit 155: ProMedica Health System Inc. - Overview
              • Exhibit 156: ProMedica Health System Inc. - Product / Service
              • Exhibit 157: ProMedica Health System Inc. - Key offerings
            • 12.14 Senior Lifestyle
              • Exhibit 158: Senior Lifestyle - Overview
              • Exhibit 159: Senior Lifestyle - Product / Service
              • Exhibit 160: Senior Lifestyle - Key offerings
            • 12.15 Sunrise Senior Living LLC
              • Exhibit 161: Sunrise Senior Living LLC - Overview
              • Exhibit 162: Sunrise Senior Living LLC - Product / Service
              • Exhibit 163: Sunrise Senior Living LLC - Key news
              • Exhibit 164: Sunrise Senior Living LLC - Key offerings
            • 12.16 Utsav Care Homes
              • Exhibit 165: Utsav Care Homes - Overview
              • Exhibit 166: Utsav Care Homes - Product / Service
              • Exhibit 167: Utsav Care Homes - Key offerings
            • 12.17 Wickshire Senior Living
              • Exhibit 168: Wickshire Senior Living - Overview
              • Exhibit 169: Wickshire Senior Living - Product / Service
              • Exhibit 170: Wickshire Senior Living - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 171: Inclusions checklist
                • Exhibit 172: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 173: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 174: Research methodology
                • Exhibit 175: Validation techniques employed for market sizing
                • Exhibit 176: Information sources
              • 13.5 List of abbreviations
                • Exhibit 177: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Senior Living market growth will increase by $91.37 billion during 2023-2027.
              The senior living market is expected to grow at a CAGR of 5.65% during 2023-2027.
              Technavio has segmented the senior living market by age group (85 or older, 75 to 84, 65 to 74, and 60 to 64) ,service (Assisted living, Independent living, and CCRC) , and geography (North America, Europe, APAC, South America, and Middle East and Africa).
              AbsoluteCare Inc., Affinity Living Communities, Antara Assisted Service Ltd., Brookdale Senior Living Inc., Covenant Living Communities and Services, Enterprise Retirement Living Ltd., Erickson Senior Living Management LLC, Extendicare Canada Inc., Genesis Healthcare Inc., Golden Heights Personal Care Home, Grand world Elder Care, HC One Ltd., Lendlease Corp., Life Care Centers of America Inc., Merrill Gardens, ProMedica Health System Inc., Senior Lifestyle, Sunrise Senior Living LLC, Utsav Care Homes, Wickshire Senior Living are a few of the key vendors in the senior living market.
              North America will register the highest growth rate of 38.98% among the other regions. Therefore, the senior living market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              • US
              • Canada
              • China
              • France
              • Germany
              The key factors driving the senior living market growth are:
              • Aging Baby Boomer population
              • Technological advances
              The senior living market vendors should focus on grabbing business opportunities from the 85 or older segment as it accounted for the largest market share in the base year.
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