141 Billion Dollar Market
The projected growth in the elderly population owing to increased life expectancy is expected to fuel market growth in the coming years. According to data published by the National Institute on Aging (NIA), about 8.5% of the global population is aged 65 and above.
Therefore, this trend not only presents a lucrative opportunity for market players but also reflects an increasing necessity for facilities that cater to the needs of elderly citizens.
The U.S. senior living facility markets witnessed robust growth, posting a value of USD 91.8 billion in 2022, a trend that is expected to continue in the foreseeable future. A major growth driver of this market is the significant increase in the geriatric population seeking companionship, safety, and support with daily tasks in assisted living facilities.
8 Year Growth 54%
According to the Population Reference Bureau’s published data, it is projected that the number of Americans aged 65 years and above will reach 95 million by 2060, an increase from 52 million in 2018.
Furthermore, the western region has shown dominance in the US segment with a majority market share of 41.38% in 2022. This can be attributed to the region hosting the highest number of ALFs (Assisted Living Facilities).
Source: Grandview Research -Population Reference Bureau
3-5 Year
Hold Period
6%
Monthly Interest
