Dublin, April 23, 2025 (GLOBE NEWSWIRE) -- The "Retirement Home Services Market Report 2025" has been added to ResearchAndMarkets.com's offering.
The retirement home services market has witnessed significant growth and momentum, expanding from $7.39 billion in 2024 to an anticipated $7.77 billion in 2025 at a 5.1% compound annual growth rate (CAGR). This robust growth underscores pivotal factors such as the increasing healthcare costs, the burgeoning need for high-quality retirement living, and a surge in demand for professional nursing and memory care due to shifting aging demographics.
By 2029, the market is poised to climb further to $9.38 billion at a 4.8% CAGR. This sustainability in growth is driven by the varied needs of an aging populace, longer life expectancy, and an expanding demand for senior care options. Increasing emphasis on active, independent aging and innovative housing alternatives further propels market dynamics.
Technological innovations are central to current market trends, with noteworthy advances including remote monitoring, care integration through mobile applications, and advanced alarm systems that enhance service delivery efficiency. The expansion of senior living services into emerging markets complements these innovations, catering to an increasingly tech-savvy aging population.
Life expectancy is a critical driver of market expansion, with extended longevity necessitating enhanced retirement services to manage chronic conditions, offer daily support, and enrich social engagement for seniors. For instance, the CDC reported a rise in U.S. life expectancy from 76.4 years in 2021 to 77.5 years in 2022, underscoring improved healthcare outcomes. This trend amplifies the demand for comprehensive retirement services.
Leading market players are pivoting towards innovative solutions like non-real estate-based assisted living. This approach enables the elderly to remain at home with requisite support, as exemplified by Mindrot Technologies’ April 2024 launch of the CarePilot platform. This platform enhances operational efficiencies for service providers, supporting care decisions through modules ranging from patient management to analytical support.
Strategic corporate maneuvers are also reshaping the landscape, evidenced by National Healthcare Corporation’s acquisition of White Oak Senior Living in August 2024, intending to bolster its market presence and operational footprint. Such acquisitions embody a strategic intent to expand and tap into burgeoning market segments.
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The report addresses critical queries, including identifying the largest and fastest-growing markets for retirement home services and assessing the market's relationship with the broader economy and demographics. It explores market attributes, size, growth patterns, segmentation, and regional distribution, providing insights into market shares, competitive landscapes, and strategic industry developments.
Key factors influencing market forecasts include the ongoing Russia-Ukraine conflict, rising inflation, fluctuating interest rates, and the lasting effects of the COVID-19 pandemic. The report segments the market into assisted living, independent living, and other types, while also analyzing demographic and application-based distinctions.
Report Scope
Markets Covered:
- By Type: Assisted Living, Independent Living, Other Types
- By Gender: Women, Men
- By Age Group: 55 To 64, 65 To 74, 75 and Above
- By Application: Elderly People, Disabled People
Subsegments:
- Assisted Living: Personal Care Services, Medication Management, 24/7 Support and Supervision, Specialized Memory Care
- Independent Living: Independent Living Communities, Retirement Communities, Age-Restricted Housing
- Other Types: Skilled Nursing Facilities, Continuing Care Retirement Communities, Respite Care Services, Hospice Care
Key Companies Profiled: Sompo Holdings Inc., British United Provident Association Ltd., ABM Industries Inc., Genesis HealthCare Inc., Sunrise Senior Living Inc.
Geographical Analysis: The report covers markets in multiple countries including Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, and Spain. It also provides analysis across regions such as Asia-Pacific, Western and Eastern Europe, North and South America, the Middle East, and Africa.
Data Time Series: The report includes both five-year historical data and ten-year growth forecasts, equipping businesses with the information needed for strategic planning and decision-making.
Data Format: The report is available in PDF, Word, and Excel dashboard formats for user convenience and detailed analysis.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2025-2029 |
| Estimated Market Value (USD) in 2025 | $7.77 Billion |
| Forecasted Market Value (USD) by 2029 | $9.38 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
The companies featured in this Retirement Home Services market report include:
- Sompo Holdings Inc.
- British United Provident Association Ltd.
- ABM Industries Inc.
- Genesis HealthCare Inc.
- Sunrise Senior Living Inc.
- Erickson Senior Living Management LLC
- Avalon Health Care Group
- National HealthCare Corporation
- Senior Lifestyle
- AlerisLife Inc.
- Enlivant
- Sienna Senior Living Inc.
- Sonida Senior Living Inc.
- Bonaventure Senior Living
- ProMedica Senior Care
- Wickshire Senior Living
- Ashiana Housing Ltd.
- Life Care Companies LLC
- Home Instead Inc.
- Covai Property Centre (I) Pvt. Ltd.
- American Retirement Homes Inc.
For more information about this report visit https://www.researchandmarkets.com/r/1kk0jt
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