Authored By: Sarah
13 Aug 2024

 Retirement Communities Market Size to grow by USD 394.5 billion between 2024-2028

According to a research report “ Retirement Communities Market” by Type (Assisted living facilities, Continuing care retirement communities, Rest homes) Application (Elderly people, Disabled people) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 394.5 billion, at a CAGR of 4.25% during the forecast period. The global retirement communities market is experiencing significant growth due to the increasing global life expectancy, resulting in a greater demand for supportive living arrangements for older adults. Retirement communities, catering to individuals aged 55 and above, provide essential services and amenities, including healthcare, recreational facilities, social activities, and daily assistance, enabling seniors to maintain their independence and quality of life..

Browse market data tables, figures, and in-depth TOC on “Retirement Communities Market” by Type (Assisted living facilities, Continuing care retirement communities, Rest homes) Application (Elderly people, Disabled people) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

By Type, the Assisted living facilities segment is projected to dominate the market size in 2024

The Retirement Communities Market represents a significant business opportunity for investors and service providers. These communities cater to the growing demographic of elderly population seeking secure and age-appropriate living arrangements. Offering amenities such as healthcare services, social activities, and maintenance-free lifestyles, retirement communities present a lucrative niche market. Market growth is driven by demographic trends, increasing life expectancy, and the rising preference for active aging. Investors and businesses should capitalize on this trend to meet the evolving needs of the aging population.

By Application, Elderly people  segment is expected to hold the largest market size for the year 2024

In the senior living sector, retirement communities represent a significant market segment. These communities cater to the unique needs of the aging population, offering amenities and services tailored to their specific requirements. The retirement community market is characterized by a growing demand due to the increasing number of retirees and their preference for active, social living arrangements. Providers must stay competitive by offering high-quality facilities, personalized care, and innovative programming to attract and retain residents.

North America is forecasted to hold the largest market size by region in 2024

The retirement communities market represents a significant business opportunity for investors and service providers. With an aging population seeking active, engaging living options, this sector experiences consistent growth. Providers offering customized services, modern amenities, and a sense of community will thrive in this competitive landscape. Strategic partnerships, innovative solutions, and a customer-centric approach are essential to succeed in this lucrative market.

The Retirement Communities Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Affinity Living Communities
  • AlerisLife Inc.
  • American Retirement Homes Inc.
  • British United Provident Association Ltd.
  • Brookdale Senior Living Inc.
  • Enlivant Master Mgmt CO LLC
  • Erickson Senior Living Management LLC
  • Front Porch
  • Genesis Healthcare Inc.
  • HC One Ltd.
  • Honor Technology Inc.
  • Interim HealthCare Inc.
  • Korian
  • Life Care Companies LLC
  • Senior Lifestyle
  • Sienna Senior Living Inc.
  • Sonida Senior Living Inc.
  • Sunrise Senior Living LLC
  • Village Concepts
  • Wickshire Senior Living
.

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Research Analysis Overview

The retirement communities market is witnessing significant demands from senior citizens, particularly parents of businessmen and professionals, who seek a secure and comfortable living environment during their golden years. Active adult housing and senior living facilities in both major cities and non-metro areas are increasingly popular choices for this aging population. Security is a top priority for many retirees, leading to the growth of gated communities and facilities with 24/7 security personnel. Lifestyle preferences also play a role, with some opting for suburban settings that offer a quieter pace of life, while others prefer the amenities and social opportunities found in major cities. As medical needs increase with age, attractive financing options for retirement communities, such as long-term care insurance and reverse mortgages, are becoming more important. The retirement community market is expected to continue growing as the aging population increases, with a particular focus on meeting the unique needs of this demographic in both urban and rural areas.

Market Research Overview

Retirement communities have emerged as a popular solution for senior citizens seeking an active, hassle-free lifestyle in their golden years. These communities offer a range of senior living options, from independent living to assisted living and continuous care homes. Communication is key in these communities, with responsive devices and touch points ensuring seniors stay connected with their families and the community. The retirement communities market is expanding, with the availability of land and attractive financing options driving growth in metros and non-metro cities alike. Prospective residents demand top-notch healthcare services, outdoor activities, and a lifestyle that caters to their unique preferences. Senior living marketing strategies focus on addressing the increasing medical needs of the aging population, offering freedom from chores, and ensuring security. The Villages, a popular retirement community, has set the bar high with its extensive facilities and vibrant social scene. Retirement homes and senior living residences are available as leases or rentals or outright purchases, catering to various budgets and lifestyle preferences. Hybrid models, combining independent living with assisted living, are also gaining popularity. Continuous Care Homes provide round-the-clock care for seniors with advanced medical needs. As the senior population continues to grow, the retirement communities market is poised for significant expansion, offering a range of solutions for those seeking a fulfilling and active retirement.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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