DUBLIN–(BUSINESS WIRE)–Added Retirement Communities Global Market Opportunities And Strategies To 2030, By Community Type report ResearchAndMarkets.com Offer.
The senior citizen communities market reached nearly $189.3 billion in 2020 after growing at a compound annual growth rate (CAGR) of 0.1% since 2015. The market is expected to grow by 8.5% from $189.3 billion in 2020 to $285.1 billion in 2025. The market is then projected to grow at a CAGR of 5.6% from 2025 and reach $374.7 billion in 2030.
Growth in the historical period resulted from population aging, growth in emerging markets, changes in social patterns, life expectancy, and health insurance reforms.
In the future, increases in chronic diseases and disabilities, aging populations, increasing access to health care, economic growth and technology will drive growth. Among the factors that may impede the growth of the senior citizen communities market in the future are bankruptcy, lack of qualified human resources and insufficient statutory health insurance coverage.
The senior communities market is segmented by community type into assisted living facilities with care, assisted living facilities, senior communities with ongoing care, and convalescent homes. The Senior Communities with Continuing Care market was the largest segment of the Senior Communities market segmented by type of community, accounting for 47.7% of the total in 2020. Going forward, the Assisted Living Facilities Market is expected to be the fastest growing segment in the senior communities market segmented by community type, with a CAGR of 10.54% over the period 2020-2025.
Western Europe was the largest region in the senior communities market, accounting for 42.4% of the total in 2020. North America followed, and then the other regions. Going forward, the fastest growing regions in the senior communities market will be Asia Pacific and Africa, where growth will be at CAGRs of 11.2% and 10.5%, respectively. This is followed by the Middle East and Western Europe, where markets are expected to grow at CAGRs of 8.4% and 8.3%, respectively.
COVID-19 is of particular concern for older people with pre-existing medical conditions, regardless of their living situation. Those with greater frailty are generally at higher risk. The virus also spreads rapidly in densely populated communities with regular activities, communal meals and/or gatherings, and therefore these underlying factors pose a major health risk in elder communities where there are numerous immune-compromised residents.
The virus has taken a huge toll on operators in terms of operational pressures and challenges in managing anxiety, stress, many employees self-isolating or shielding, burnout, staff shortages, managing expectations, lack of PPE availability and the pursuit of health and protect well-being.
The global retirement communities market is highly fragmented, with a large number of small players. The top ten players of the market account for only 6.48% of the market in 2020. However, this is expected to change over the forecast period as the majority of players seek to grow inorganically by acquiring smaller companies to expand their geographic reach.
The greatest opportunity in the retirement communities market segmented by community type will be in the retirement communities with ongoing care segment, which is expected to reach $32.0 billion in global annual revenue by 2025. The market size of retirement communities will grow the most in the US at $17.7 billion.
To capitalize on opportunities, the editor recommends that senior community businesses focus on the adoption of technology for the elderly population, expand into countries with large geriatric populations, focus on expansion through collaborations, competitive pricing, and the use of social Focus media to maximize reach, increase visibility through a powerful website, and ensure quality staff.
Main topics covered:
1. Summary of Pension Funds Market
2. Table of Contents
3. List of figures
4. List of Tables
5. Reporting Structure
6.1. Segmentation by geography
6.2. Segmentation by community type
7. Characteristics of the market for retirement communities
7.1. market definition
7.2. Segmentation by community type
7.2.1. Continuing Care Retirement Communities
7.2.2. convalescent homes
7.2.3. Facilities for assisted living
7.2.4. Assisted living with nursing service
8. Retirement Communities Market, Supply Chain Analysis
8.2. retirement communities
8.3. Other service providers
9. Customer Information for the Retirement Community Market
9.1. Decrease in the workforce of assisted living providers
9.2. Employee engagement in an independent senior living community
9.3. Low confidence in ability to afford long-term care
9.4. Affordability is the key factor when choosing a location for senior housing in the UK
9.5. Residential living is an attractive proposition for seniors in the UK
9.6. Assisted living facilities observed poor care planning
9.7. High customer satisfaction with the care of elderly parents
9.8. Convenient location is the top priority when choosing a retirement community
9.9. Huge demand-supply gap for retirement housing in the UK
9.10. Residents of assisted living are satisfied with their quality of life in retirement homes
10. Retirement Community Market Trends and Strategies
10.1. Introduction of advanced technologies
10.2. Introducing Big Data Analytics to Retirement Communities
10.3. Telemedicine to improve healthcare for seniors
10.4. Individual service plans
10.5. Eco-friendly alternatives for senior communities
10.6. Implementation of intelligent and integrative layouts
10.7. Introduction of smart home technology
10.8. Introduction of Electronic Health Records (EHR)
10.9. Increasing mergers and acquisitions
11. Assessment of Retirement Communities Market Opportunities, PESTEL Analysis
11.1.1. Government initiatives and subsidies
11.1.2. State intervention and bureaucracy
11.2.1. emerging markets
11.2.2. Low long-term interest rates
11.3.1. Aging world population
11.3.2. change in social behavior
11.3.3. Available income
11.4.2. IoT and wearable technology
11.4.3. Social Media and Internet Penetration
11.5.1. natural disasters
11.5.2. disease outbreaks
11.6.1. Employee Laws and Regulations
11.6.2. tax exemptions
12. Impact of COVID-19 on Retirement Communities Market
12.2. Increase in infections and deaths in nursing homes
12.3. Effects on the operation of retirement homes
12.4. Impact on business
12.5. discharge of the government
12.6. future prospects
Brookdale Senior Living Inc.
Sunrise senior housing
Atria senior living group
Life Care Centers of America
senior lifestyle corp
Affinity Living Group
HC One Ltd.
Covenant Retire Communities Inc.
For more information about this report, visit https://www.researchandmarkets.com/r/se287j.