Assisted Living Market Size to Be Valued at USD 271.50 Billion by 2032; Rising Population of Older Individuals in Various Countries to Drive Market Growth

Market Overview:

According to Fortune Business Insights, the global assisted living market was valued at USD 157.28 billion in 2023 and is expected to rise from USD 171.15 billion in 2024 to USD 271.50 billion by 2032, growing at a CAGR of 5.94% during the forecast period. In 2023, North America held the largest share of the market, accounting for 35.19%.

Assisted living refers to residential care services designed for older adults and individuals with disabilities who seek to maintain a level of independence but require help with daily activities without the need for round-the-clock medical attention. With nearly 60% of older adults anticipated to need some form of long-term care in the near future, demand for assisted living solutions is on the rise, fueling market growth.

Notable Industry Development:

• July 2024: Edelweiss Village, a U.S.-based senior living company, launched its new assisted living memory care apartments.
• March 2024: Epoch Elder Care, an assisted living company based in India, introduced its new facility, Epoch Picasso House, in Pune. This new residence is specifically designed for elderly individuals who need help with daily tasks or have ongoing medical conditions.
• September 2022: Athulya Senior Care, an India-based senior living company, launched its new assisted living facility in Bengaluru, India. According to the company, the new facility offers various services, including geriatric assistance by professional caregivers, 24/7 clinical assistance and security protection, housing, and laundry services.

LIST OF KEY COMPANIES PROFILED IN THE REPORT

• Brookdale Senior Living (U.S.)
• Atria Senior Living (U.S.)
• Sunrise Senior Living (U.S.)
• Erickson Senior Living (U.S.)
• Barchester Healthcare (U.K.)
• ATHULYA ASSISTED LIVING (India)
• Epoch Elder Care (India)
• Clariane (Germany)
• Dussmann Group (Germany)
• The Flag (Germany)