“The United States Assisted Living Facilities market is poised for significant growth in the coming years, driven by the increasing aging population and the rising demand for personalized and high-quality care services.”
The US Assisted Living Facilities Market is set to experience significant growth in the coming years, according to a report by ResearchAndMarkets.com. The market was valued at $97.60 billion in 2022 and is projected to reach $133.42 billion by 2029, with a compound annual growth rate (CAGR) of 5.35%.
Several factors are driving this growth, including the increasing number of baby boomers, a rising aging population, higher healthcare expenditure, and a growing preference for independent living. These factors have contributed to substantial activity in the market and indicate a promising outlook for the future.
The report also highlights some key trends within the market. In 2022, women accounted for 71.70% of occupancy in assisted living facilities, and this segment is expected to continue growing with a projected CAGR of 5.84% during the forecast period. Additionally, older adults aged 85 years and above made up 52.37% of assisted living facilities in 2022, and this demographic is set to drive market growth with a projected CAGR of 5.71%.
Chain-affiliated ownership dominated the market in 2022, with a 55.29% share, and is forecasted to grow at a CAGR of 5.26%. Geographically, the Western region emerged as the market leader, commanding 41.12% of the market share in 2022, with a projected CAGR of 5.71% during the forecast period.
The comprehensive market study covers the US Assisted Living Facilities market for 2023-2028, providing insights into market dynamics, growth enablers, restraints, and trends. The report also profiles leading companies and key players operating in the industry.
For more information about the report, visit the ResearchAndMarkets.com website.
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. They provide the latest data on international and regional markets, key industries, top companies, new products, and the latest trends.
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