Retirement Home Services Market to grow by USD 5,556.39 million from 2022 to 2027|Rising life expectancy to boost the growth in consumer discretionary industry- Technavio

NEW YORK, July 11, 2023 /PRNewswire/ — The global retirement home services market is estimated to increase by USD 5,556.39 million from 2022 to 2027. The market’s growth momentum will progress at a CAGR of 3.34% during the forecast period. The increasing life expectancy across the world is a major factor driving the global retirement home services market growth. The low mortality rates of cardiovascular and infectious diseases, it has led to increasing life expectancy among the population. Some of the key health conditions which majorly contributed to deaths include ischemic heart disease, chronic obstructive pulmonary disease (COPD), and stroke. Hence, the declining low mortality rate is a significant result of the improved healthcare sector. Factors such as the increasing standards of living, better nutrition, improved education, and changes in lifestyles have significantly contributed to the increased life expectancy. Hence such factors are expected to drive market growth during the forecast period. Discover some insights on the market size historic period (2017 to 2021) and Forecast 2023-2027 before buying the full report –Request a sample report

Key Trends- The advancements in technology drive the retirement home services market growth. The emergence of technological advancement, such as growing internet penetration, has led to the innovation of online platforms, mobile applications, and mHealth. As a result, there is an increasing demand for related services, including mobile applications, wearables and trackers, communication devices, and smart alarms. The main benefit of these devices is that the nurses are able to track, record, and observe patients and communicate with doctors and healthcare professionals. Furthermore, there is rising adoption of patient data management using computers and mobile phones due to its several benefits. Hence, such factors are expected to drive market growth during the forecast period.

Major challenges- The poor reputation of retirement homes is a significant threat to the global retirement home services market growth. Drivers, Trends and challenges have an impact on market dynamics, for drivers and challenges insights download sample report! 

What’s New? –

• Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report!

Vendor Offerings –

Retirement home services market – Vendor Analysis
Vendor Landscape – The global retirement home services market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer retirement home services in the market are ABM Industries Inc., AlerisLife Inc., American Retirement Homes Inc., Ashiana Housing Ltd., British United Provident Association Ltd., Brookdale Senior Living Inc., Columbia Pacific Management, Covai Property Centre (I) Pvt. Ltd., Enlivant Master Mgmt CO LLC, Erickson Senior Living Management LLC, Genesis Healthcare Inc., Home Instead Inc., Korian, Life Care Companies, LLC, Senior Lifestyle, Sienna Senior Living Inc., Sompo Holdings Inc., Sonida Senior Living Corp., Sunrise Senior Living LLC, and Wickshire Senior Living and others.

• AlerisLife Inc: The company offers retirement home services such as agility rehab, fitness, bridge to rediscovery for dementia patients, five-star culinary, home health, and Lifestyle 360 activities program.
• American Retirement Homes Inc: The company offers retirement home services such as nutritious home-cooked meals, medication aide, social activity programs, and on-call help.
• British United Provident Association Ltd: The company offers retirement home services such as dementia care, musical therapy, and social activities.
• For details on the vendor and their offerings – Request a sample report

Retirement Home Services Market – Segmentation Assessment

Segment Overview
This market research report extensively covers market segmentation by service (independent living, nursing, and assisted living), application (elderly people and disabled people), and geography (North America, Europe, APAC, South America, and the Middle East and Africa).

• The market share growth by the independent living segment will be significant for market growth during the forecast period. This segment in retirement homes provides a special lifestyle choice in terms of age-appropriate living in combination with minimal routine housework for retired persons. Some of the main users of independent living in retirement homes are individuals who are healthy and are able to cover the majority of the maintenance costs by themselves. Brookdale Senior Living, Erickson Living Management, and Five Star Senior Living are some of the key vendors which offer the independent living segment. This segment comprises of a variety of housing arrangements such as apartment-style communities as well as housing cooperatives. Hence, such offerings are expected to drive market growth during the forecast period.

Geography Overview
By geography, the global retirement home services market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global retirement home services market.

• North America will contribute 40% to the growth of the global retirement home services market during the forecast period. North America is one of the key regions in terms of demographics that is best for significant and recurring investment opportunities. For instance, there is a rising demand in countries such as the US, which requires a significant number of retirement housing facilities, along with other retirement care services. One of the key factors for this increasing demand can be attributed to the high number of baby boomers in the region. Hence such factors are expected to drive market growth during the forecast period.

For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 – Download a Sample Report

What are the key data covered in this Retirement Home Services Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the retirement home services market between 2023 and 2027
• Precise estimation of the retirement home services market size and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the retirement home services market across North America, Europe, APAC, South America, and the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of retirement home services market vendors

Gain instant access to 17,000+ market research reports. 

Technavio’s SUBSCRIPTION platform

Related Reports:

The retirement communities market size is estimated to grow at a CAGR of 5.93% between 2022 and 2027 and the size of the market is forecast to increase by USD 545.85 billion. This report extensively covers market segmentation by type (assisted living facilities, continuing care retirement communities, and rest homes), application (elderly people and disabled people), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The aging baby boomer population is the key factor driving the growth of the global retirement communities market.

The senior living market is estimated to grow at a CAGR of 5.65% between 2022 and 2027. The size of the market is forecast to increase by USD 91.37 billion. This senior living market report extensively covers market segmentation by age group (85 or older, 75 to 84, 65 to 74, and 60 to 64), service (assisted living, independent living, and CCRC), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The aging baby boomer population is notably driving the market growth, although factors such as the low life savings of baby boomers may impede the market growth.

Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Service
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global retirement home services market 2017 – 2021
• Exhibit 18: Historic Market Size – Data Table on Global retirement home services market 2017 – 2021 ($ million)

• 4.2 By service Segment Analysis 2017 – 2021
• Exhibit 19: Historic Market Size – By service Segment 2017 – 2021 ($ million)

• 4.3 By application Segment Analysis 2017 – 2021
• Exhibit 20: Historic Market Size – By application Segment 2017 – 2021 ($ million)

• 4.4 By geography Segment Analysis 2017 – 2021
• Exhibit 21: Historic Market Size – By geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis – Comparison between2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Service

• 6.1 Market segments 
• Exhibit 30: Chart on Service – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Service – Market share 2022-2027 (%)

• 6.2 Comparison by Service 
• Exhibit 32: Chart on Comparison by Service
• Exhibit 33: Data Table on Comparison by Service

• 6.3 Independent living – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Independent living – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Independent living – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Independent living – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Independent living – Year-over-year growth 2022-2027 (%)

• 6.4 Nursing – Market size and forecast 2022-2027
• Exhibit 38: Chart on Nursing – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Nursing – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Nursing – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Nursing – Year-over-year growth 2022-2027 (%)

• 6.5 Assisted living – Market size and forecast 2022-2027
• Exhibit 42: Chart on Assisted living – Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Assisted living – Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Assisted living – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Assisted living – Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Service 
• Exhibit 46: Market opportunity by Service ($ million)

7 Market Segmentation by Application

• 7.1 Market segments 
• Exhibit 47: Chart on Application – Market share 2022-2027 (%)
• Exhibit 48: Data Table on Application – Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 49: Chart on Comparison by Application
• Exhibit 50: Data Table on Comparison by Application

• 7.3 Elderly people – Market size and forecast 2022-2027
• Exhibit 51: Chart on Elderly people – Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Elderly people – Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Elderly people – Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Elderly people – Year-over-year growth 2022-2027 (%)

• 7.4 Disabled people – Market size and forecast 2022-2027
• Exhibit 55: Chart on Disabled people – Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Disabled people – Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Disabled people – Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Disabled people – Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Application 
• Exhibit 59: Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027
• Exhibit 65: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027
• Exhibit 69: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 APAC – Market size and forecast 2022-2027 
• Exhibit 73: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.6 South America – Market size and forecast 2022-2027
• Exhibit 77: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 81: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027
• Exhibit 85: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 Japan – Market size and forecast 2022-2027
• Exhibit 89: Chart on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.10 Canada – Market size and forecast 2022-2027
• Exhibit 93: Chart on Canada – Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Canada – Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Canada – Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Canada – Year-over-year growth 2022-2027 (%)

• 9.11 Germany – Market size and forecast 2022-2027
• Exhibit 97: Chart on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.12 France – Market size and forecast 2022-2027
• Exhibit 101: Chart on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on France – Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on France – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 AlerisLife Inc. 
• Exhibit 112: AlerisLife Inc. – Overview
• Exhibit 113: AlerisLife Inc. – Business segments
• Exhibit 114: AlerisLife Inc. – Key offerings
• Exhibit 115: AlerisLife Inc. – Segment focus

• 12.4 American Retirement Homes Inc. 
• Exhibit 116: American Retirement Homes Inc. – Overview
• Exhibit 117: American Retirement Homes Inc. – Product / Service
• Exhibit 118: American Retirement Homes Inc. – Key offerings

• 12.5 British United Provident Association Ltd.
• Exhibit 119: British United Provident Association Ltd. – Overview
• Exhibit 120: British United Provident Association Ltd. – Business segments
• Exhibit 121: British United Provident Association Ltd. – Key offerings
• Exhibit 122: British United Provident Association Ltd. – Segment focus

• 12.6 Brookdale Senior Living Inc. 
• Exhibit 123: Brookdale Senior Living Inc. – Overview
• Exhibit 124: Brookdale Senior Living Inc. – Business segments
• Exhibit 125: Brookdale Senior Living Inc. – Key offerings
• Exhibit 126: Brookdale Senior Living Inc. – Segment focus

• 12.7 Columbia Pacific Management 
• Exhibit 127: Columbia Pacific Management – Overview
• Exhibit 128: Columbia Pacific Management – Product / Service
• Exhibit 129: Columbia Pacific Management – Key offerings

• 12.8 Covai Property Centre (I) Pvt. Ltd.
• Exhibit 130: Covai Property Centre (I) Pvt. Ltd. – Overview
• Exhibit 131: Covai Property Centre (I) Pvt. Ltd. – Product / Service
• Exhibit 132: Covai Property Centre (I) Pvt. Ltd. – Key offerings

• 12.9 Enlivant Master Mgmt CO LLC 
• Exhibit 133: Enlivant Master Mgmt CO LLC – Overview
• Exhibit 134: Enlivant Master Mgmt CO LLC – Product / Service
• Exhibit 135: Enlivant Master Mgmt CO LLC – Key offerings

• 12.10 Erickson Senior Living Management LLC
• Exhibit 136: Erickson Senior Living Management LLC – Overview
• Exhibit 137: Erickson Senior Living Management LLC – Product / Service
• Exhibit 138: Erickson Senior Living Management LLC – Key offerings

• 12.11 Genesis Healthcare Inc. 
• Exhibit 139: Genesis Healthcare Inc. – Overview
• Exhibit 140: Genesis Healthcare Inc. – Business segments
• Exhibit 141: Genesis Healthcare Inc. – Key news
• Exhibit 142: Genesis Healthcare Inc. – Key offerings
• Exhibit 143: Genesis Healthcare Inc. – Segment focus

• 12.12 Home Instead Inc. 
• Exhibit 144: Home Instead Inc. – Overview
• Exhibit 145: Home Instead Inc. – Product / Service
• Exhibit 146: Home Instead Inc. – Key offerings

• 12.13 Korian 
• Exhibit 147: Korian – Overview
• Exhibit 148: Korian – Product / Service
• Exhibit 149: Korian – Key offerings

• 12.14 Life Care Companies, LLC 
• Exhibit 150: Life Care Companies, LLC – Overview
• Exhibit 151: Life Care Companies, LLC – Product / Service
• Exhibit 152: Life Care Companies, LLC – Key offerings

• 12.15 Senior Lifestyle 
• Exhibit 153: Senior Lifestyle – Overview
• Exhibit 154: Senior Lifestyle – Product / Service
• Exhibit 155: Senior Lifestyle – Key offerings

• 12.16 Sonida Senior Living Corp. 
• Exhibit 156: Sonida Senior Living Corp. – Overview
• Exhibit 157: Sonida Senior Living Corp. – Product / Service
• Exhibit 158: Sonida Senior Living Corp. – Key offerings

• 12.17 Wickshire Senior Living 
• Exhibit 159: Wickshire Senior Living – Overview
• Exhibit 160: Wickshire Senior Living – Product / Service
• Exhibit 161: Wickshire Senior Living – Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 162: Inclusions checklist
• Exhibit 163: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 164: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 165: Research methodology
• Exhibit 166: Validation techniques employed for market sizing
• Exhibit 167: Information sources

• 13.5 List of abbreviations 
• Exhibit 168: List of abbreviations 

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio