Press release
U.S. Assisted Living Facility Market Report on the Untapped Growth Opportunities in the Industry
The U.S. Assisted Living Facility Market Size is valued at USD 103.5 Bn in 2024 and is predicted to reach USD 182.3 Bn by the year 2034 at a 5.9% CAGR during the forecast period for 2025-2034.
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The U.S. Assisted Living Facility (ALF) market represents a critical segment within the broader healthcare and senior living industries, providing essential services to older adults who need assistance with daily activities while retaining a certain level of independence. These facilities combine residential housing with personal care and healthcare services to cater to the needs of aging individuals who do not require the intensive medical oversight typically associated with skilled nursing facilities.
ALFs offer a wide range of services, including meal preparation, housekeeping, transportation, and assistance with activities of daily living such as bathing, dressing, and medication management. The increasing aging population in the United States is a primary driver of the growing demand for these services, with demographic projections indicating continued growth in the senior population in the coming years. Assisted living facilities provide a cost-effective alternative to nursing homes, enabling older adults to remain in a supportive setting that fosters independence while ensuring their care needs are met.
List of Prominent Players in the U.S. Assisted Living Facility Market:
• Abri Health Care
• Aegis Living Shadowridge
• Allegro
• Artis Senior Living
• Atria Senior Living, Inc.
• Avalon Health Care Group
• Belmont Village, L.P.
• Benchmark Senior Living
• Bonaventure Senior Living
• Brandywine Senior Living
• Brightview Senior Living
• Brookdale Senior Living Inc.
• Capital Senior Living
• CareOne LLC
• Carillon Assisted Living
• Extendicare
• Felicita Vida
• Five Star Senior Living
• Frontier Senior Living
• Gardant Management Solutions
• genesis healthcare
• Integral Senior Living (ISL)
• Kindred Healthcare, LLC
• Kisco Senior Living
• La Marea Senior Living
• Leisure Care, LLC
• Life Care Centers of America Inc.
• Merrill Gardens
• Morningstar Senior Living
• National HealthCare Corporation
• New Perspective Senior Living
• Pacifica Senior Living
• Pegasus Senior Living
• ProMedica Senior Living
• Sagora Senior Living
• Senior Lifestyle
• Silverado Senior Living
• Sonida Senior Living
• StoryPoint Group
• Sunrise Senior Living, LLC
• The Ensign Group, Inc.
• The Evangelical Lutheran Good Samaritan Society
• The Holiday Retirement
• The Montera
• White Sands La Jolla
• Others
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Market Dynamics:
Drivers-
The U.S. Assisted Living Facility (ALF) market is experiencing steady growth, driven by several key factors. The foremost of these is the rapidly aging population in the country, which has significantly increased the demand for support services for individuals who wish to maintain independence while receiving assistance with daily activities.
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Challenges:
The assisted living industry is confronted with several operational and financial challenges that impact its growth and long-term viability. One of the primary concerns is the ongoing shortage of skilled personnel, which complicates recruitment and retention of qualified caregivers. This shortage often leads to increased labor costs, including higher wages and reliance on overtime, thus contributing to overall cost inflation. Moreover, rising operational costs, driven by inflation and wage increases, have placed significant financial strain on many facilities, with some struggling to maintain profitability.
Recent Developments:
In May 2024, Belmont Village Senior Living, in partnership with Greystar Real Estate Partners, LLC, announced the development of Belmont Village Rancho Santa Fe, an upscale senior housing community within the exclusive Lakes of Rancho Santa Fe master-planned community. This fully approved project, which has been in the planning stages for several years, is slated to begin construction by the end of the year.
In December 2021, Five Star Senior Living Inc. entered into a strategic collaboration with Compass Community Living, a division of Compass Group. Under this partnership, Compass Community Living will assume responsibility for managing the dining services across all Five Star Senior Living communities, reinforcing Five Star's commitment to delivering high-quality, customer-centric experiences to its residents.
Segmentation of U.S. Assisted Living Facility Market-
By Age:
• More than 85
• 75-84
• 65-74
• Less than 65
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