Market Overview:
The global retirement home services market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing elderly population and rising demand for quality healthcare and assisted living services. In terms of type, the independent living service segment is expected to lead the market during the forecast period, owing to its growing popularity among elderly people across regions. By application, the elderly people segment is anticipated to account for a major share of the global retirement home services market in 2018. However, with increasing awareness about disability-friendly infrastructure and facilities among governments and private players alike, disabled people are projected to emerge as one of fastest-growing segments over the next decade. Regionally speaking, North America accounted for a leading share of revenue in 2017 and is projected maintain its dominance throughout 2030 on account of well-established healthcare infrastructure coupled with rising geriatric population base in countries such as U.S.
Product Definition:
Retirement home services are the various types of services that are offered to retirees in retirement homes. These services can include meal service, transportation, laundry service, and more. The importance of retirement home services is that they allow retirees to live comfortably and securely in a community setting. This can be especially important for those who may no longer have family members nearby to help them with everyday tasks.
Independent Living Service:
Independent Living Services (ILS) are personal care services that enable people to live in their homes for as long as possible. The service is provided by Residential Care Facilities (RCFs), which include nursing homes, assisted living facilities, and senior housing communities.
The independent living service usage and growth factor in the market of the retirement home services industry is expected to grow at a significant rate during the forecast period.
Nursing Service:
Nursing service is the provision of personal care by nurses to the residents in a nursing home. It includes bathing, dressing, assisting with activities of daily living and providing general wellness services. The demand for these services is increasing due to an aging population and increased government funding for long term care facilities which are expected to drive market growth over the forecast period.
Application Insights:
The elderly people application segment accounted for the largest revenue share of over 40% in 2017. The increasing number of aging population across the world is expected to be a major factor driving the demand for retirement home services among older adults. According to United Nations, by 2050, there will be nearly 94 million people aged 65 years and above globally, which is expected to increase from 62 million in 2015.
The other application segment includes children and their parents or legal guardians who require assistance with daily activities at home due to mental disability or illness. This segment is anticipated to witness significant growth over the forecast period owing to rising cases of child abuse and neglect across various regions including Latin America and Asia Pacific.
Regional Analysis:
North America dominated the global market in 2017. The growth of this region can be attributed to the presence of a large geriatric population base and increasing awareness about various services provided by retirement homes. Asia Pacific is expected to witness lucrative growth over the forecast period owing to an increase in government spending on old-age security, rising disposable income levels, and improving economic conditions in emerging countries such as China and India. Moreover, supportive policies framed by governments for independent living are anticipated to drive regional demand further. For instance, In India’s 2015 budget speech, finance minister Arun Jaitley announced plans for construction of 100 million affordable houses by 2022 for people who have retired before that year or are planning retirements thereafter (The Economic Times). Such initiatives taken up across developing economies will boost regional market development over the forecast period.
Growth Factors:
- Increasing life expectancy and the resultant growth in the elderly population
- Rising awareness about retirement home services and their benefits among people of all age groups
- Growing preference for assisted living and independent living options among seniors
- Proliferation of private-sector retirement home services providers, especially in developing countries
- Increased funding for research and development initiatives aimed at improving the quality of retirement home services
Scope Of The Report
Report Attributes
Report Details
Report Title
Retirement Home Services Market Research Report
By Type
Independent Living Service, Nursing Service, Assisted Living Service, Other,
By Application
Elderly People, Disabled People, Other,
By Companies
Brookdale Senior Living Solutions, Erickson Living, Holiday Retirement, Life Care Services, Five Star Senior Living, Sunrise Senior Living, Atria Senior Living, Senior Lifestyle, Capital Senior Living, Affinity Living Group, Enlivant, Home Instead, Sompo Holdings,
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
250
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Retirement Home Services Market Report Segments:
The global Retirement Home Services market is segmented on the basis of:
Types
Independent Living Service, Nursing Service, Assisted Living Service, Other,
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Elderly People, Disabled People, Other,
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Brookdale Senior Living Solutions
- Erickson Living
- Holiday Retirement
- Life Care Services
- Five Star Senior Living
- Sunrise Senior Living
- Atria Senior Living
- Senior Lifestyle
- Capital Senior Living
- Affinity Living Group
- Enlivant
- Home Instead
- Sompo Holdings
Highlights of The Retirement Home Services Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Independent Living Service
- Nursing Service
- Assisted Living Service
- Other
- By Application:
- Elderly People
- Disabled People
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Retirement Home Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Retirement home services are a type of care that is typically provided to seniors who live in retirement communities or assisted living facilities. These services may include helping the senior with daily activities, providing companionship, and providing assistance with medical and personal care needs.
Some of the major companies in the retirement home services market are Brookdale Senior Living Solutions, Erickson Living, Holiday Retirement, Life Care Services, Five Star Senior Living, Sunrise Senior Living, Atria Senior Living, Senior Lifestyle, Capital Senior Living, Affinity Living Group, Enlivant, Home Instead, Sompo Holdings.
The retirement home services market is expected to register a CAGR of 7.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Retirement Home Services Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Retirement Home Services Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Retirement Home Services Market - Supply Chain
4.5. Global Retirement Home Services Market Forecast
4.5.1. Retirement Home Services Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Retirement Home Services Market Size (000 Units) and Y-o-Y Growth
4.5.3. Retirement Home Services Market Absolute $ Opportunity
5. Global Retirement Home Services Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Retirement Home Services Market Size and Volume Forecast by Type
5.3.1. Independent Living Service
5.3.2. Nursing Service
5.3.3. Assisted Living Service
5.3.4. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Retirement Home Services Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Retirement Home Services Market Size and Volume Forecast by Application
6.3.1. Elderly People
6.3.2. Disabled People
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Retirement Home Services Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Retirement Home Services Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Retirement Home Services Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Retirement Home Services Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Retirement Home Services Demand Share Forecast, 2019-2026
9. North America Retirement Home Services Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Retirement Home Services Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Retirement Home Services Market Size and Volume Forecast by Application
9.4.1. Elderly People
9.4.2. Disabled People
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Retirement Home Services Market Size and Volume Forecast by Type
9.7.1. Independent Living Service
9.7.2. Nursing Service
9.7.3. Assisted Living Service
9.7.4. Other
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Retirement Home Services Demand Share Forecast, 2019-2026
10. Latin America Retirement Home Services Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Retirement Home Services Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Retirement Home Services Market Size and Volume Forecast by Application
10.4.1. Elderly People
10.4.2. Disabled People
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Retirement Home Services Market Size and Volume Forecast by Type
10.7.1. Independent Living Service
10.7.2. Nursing Service
10.7.3. Assisted Living Service
10.7.4. Other
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Retirement Home Services Demand Share Forecast, 2019-2026
11. Europe Retirement Home Services Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Retirement Home Services Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Retirement Home Services Market Size and Volume Forecast by Application
11.4.1. Elderly People
11.4.2. Disabled People
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Retirement Home Services Market Size and Volume Forecast by Type
11.7.1. Independent Living Service
11.7.2. Nursing Service
11.7.3. Assisted Living Service
11.7.4. Other
11.8. Basis Point Share (BPS) Analysis y Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Retirement Home Services Demand Share, 2019-2026
12. Asia Pacific Retirement Home Services Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Retirement Home Services Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Retirement Home Services Market Size and Volume Forecast by Application
12.4.1. Elderly People
12.4.2. Disabled People
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Retirement Home Services Market Size and Volume Forecast by Type
12.7.1. Independent Living Service
12.7.2. Nursing Service
12.7.3. Assisted Living Service
12.7.4. Other
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Retirement Home Services Demand Share, 2019-2026
13. Middle East & Africa Retirement Home Services Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Retirement Home Services Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Retirement Home Services Market Size and Volume Forecast by Application
13.4.1. Elderly People
13.4.2. Disabled People
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Retirement Home Services Market Size and Volume Forecast by Type
13.7.1. Independent Living Service
13.7.2. Nursing Service
13.7.3. Assisted Living Service
13.7.4. Other
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Retirement Home Services Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Retirement Home Services Market: Market Share Analysis
14.2. Retirement Home Services Distributors and Customers
14.3. Retirement Home Services Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Brookdale Senior Living Solutions
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Erickson Living
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Holiday Retirement
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Life Care Services
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Five Star Senior Living
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Sunrise Senior Living
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Atria Senior Living
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Senior Lifestyle
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Capital Senior Living
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Affinity Living Group
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Enlivant
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Home Instead
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Sompo Holdings
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14.
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
