Continuing Care & Assisted Living Facilities
Companies in this industry provide residential and personal care services for the elderly and others who need or want assistance. Major companies include Brookdale Senior Living, Five Star Senior Living, and Sunrise Senior Living (all based in the US), as well as Housing 21 (UK), Sienna Senior Living (Canada), and Tertianum (Switzerland).
In 2023, there were about 800 million people aged 65 years or over worldwide, according to the United Nations' World Population Ageing 2023. The proportion of older people (aged 65 years or over) was 3.7%, compared with 9% in other developing countries and 20% in developed countries, and is expected to increase substantially over the next several decades. Countries with the highest population growth rate in 2023 include Syria, South Sudan, Niger, Burundi, and Equatorial Guinea, according to Statista.
The US continuing care and assisted living facilities industry includes about 25,000 establishments (single-location companies and branches of multi-location companies) with combined annual revenue of $65 billion. Companies that provide residential skilled nursing services are covered in a separate profile.
Competitive Landscape
Demand for continuing care is strong due to rapidly aging senior populations in the US and other developed nations. The profitability of individual facilities depends on efficient operations and positive relations with payers, including families and government and commercial insurers. Large companies have some economies of scale in administration and purchasing. Small operators can compete effectively by offering quality service and attractive amenities, or by operating in a prime location. The US industry is fragmented: the 50 largest companies account for about 30% of revenue.
Products, Operations & Technology
The industry includes continuing care retirement communities (CCRCs) and assisted living facilities for the elderly. CCRCs offer personal care (dressing
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