Research Expert: Sarah Overall
  • Published: Mar 2025
  • Pages: 150
  • SKU: IRTNTR80613

  • Latest News- Senior Living Market in US: Assisted living is expected to lead the Service Type segment during 2025-2029

    The Senior Living Market in US is being driven by Aging population

    The Senior Living Market in US is expected to grow at a CAGR of 5.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 30580.3 million. In the US senior living market, technology is revolutionizing care delivery and enhancing the quality of life for residents. Artificial intelligence (AI), telehealth, and smart home solutions are increasingly being adopted to address the unique needs of aging populations more efficiently. Notably, AI-driven health monitoring and predictive analytics are significant advancements. Wearable devices and smart sensors track vital signs, mobility patterns, and sleep cycles, enabling early detection of health issues. AI-powered fall detection systems and emergency response alerts improve safety, reducing hospitalization risks. Telehealth and virtual care services have become essential, particularly post-COVID-19 pandemic, ensuring continued access to healthcare services while maintaining social distancing. 

    Get more information on Senior Living Market in US by requesting a sample report

    Which Factors Are Causing a Surge in Market Growth?

    The market is segmented based on

    • Service Type
      • Assisted living
      • Independent living
      • CCRC
    • Age Group
      • Age 85 and older
      • Age 66-84
      • Age 65 and under
    • Geography
      • US

    According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

    • Aging population
    • Changing lifestyles and preferences among senior citizens
    • Increased life expectancy

    However, the market also witnesses some limitations, which are as follows:

    • Affordability issues related to senior living services
    • Workforce shortages
    • Social stigma attached to old age homes

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    Market Scope in Senior Living Market in US Research Report

    Market Scope

    Report Coverage

    Details

    Page number

    152

    Base year

    2024

    Historic period

    2019-2023

    Forecast period

    2025-2029

    Growth momentum & CAGR

    Accelerate at a CAGR of 5.9%

    Market growth 2025-2029

    USD 30580.3 million

    Market structure

    market_structure.ucfirst

    YoY growth 2024-2025(%)

    5.7

    Key countries

    US

    Competitive landscape

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

    Request Free Sample

    Find out which segment is leading the market by accessing the free PDF report

    Research Analysis Overview

    The Senior Living Market in the US encompasses various care options including long-term care, end-of-life care (palliative care, hospice care), respite care, adult day care, home health services, geriatric care, and addresses cognitive decline, behavioral health, and mental health concerns. Services focus on fall prevention, medication management, nutritional support, mobility assistance, personal care assistance, continence management, and offer support groups, community outreach, and resident engagement. Quality of life and resident satisfaction are prioritized, with considerations for staffing ratios, caregiver training, technology adoption (AI, data analytics, predictive modeling), personalized care plans, regulatory compliance, financial sustainability, industry best practices, and disruptive technologies. Cost containment and value-based care are essential, with aging in place and the continuum of care being integral parts of the aging services network.

    Market Research Overview

    The senior living market in the US is experiencing significant growth due to the aging population, with baby boomers reaching retirement age and an increasing prevalence of chronic conditions such as Alzheimer's disease. This demand is driving the expansion of various senior living options, including assisted living, memory care, independent living, nursing care, skilled nursing, rehabilitation services, and healthcare services. Wellness programs, remote monitoring, and specialized care are also becoming essential offerings. Facility design, care techniques, social engagement, and recreational amenities are key considerations for providers, aiming to offer maintenance-free lifestyles and affordable housing. The market is further fueled by increasing healthcare expenses, including Medicare and Medicaid, as well as personal savings and disposable incomes. Premium living options, such as active adult communities, are also gaining popularity among seniors, making the senior living market a lucrative and growing sector.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.


    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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