According to Fortune Business Insights, the global assisted living market was valued at USD 157.28 billion in 2023. The market is projected to grow from USD 171.15 billion in 2024 to USD 271.50 billion by 2032, registering a CAGR of 5.94% during the forecast period.
What is Assisted Living?
Assisted living offers residential and care services tailored for elderly individuals and people with disabilities who seek independence but require help with daily tasks. It bridges the gap between independent living and full-time medical care.
Notably, nearly 60% of older adults are expected to need some form of long-term care in the near future—driving significant demand for assisted living solutions.
Key Players in the Assisted Living Market
- 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)
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Market Segmentation Insights
By Ownership:
- Chain-Affiliated Facilitiesheld the largest market share in 2023.
These chains ensure standardized quality of care and brand trust, making them a preferred choice globally.
By Gender:
- The women segmentdominated in 2023 due to higher life expectancy and a larger population of aging females.
By Age Group:
- The above 85 years segmentled the market in 2023.
Rising life spans and demand for specialized geriatric care are fueling this growth.
Regional Outlook
North America:
- Remains the leading region due to a growing elderly population, chronic disease prevalence, and affordable assisted living optionscompared to home healthcare or nursing homes.
- North Americaled the global market with a dominant 19% share in 2023.
Europe:
- Expected to witness notable growth during the forecast period due to an aging demographic and expanding elderly care services.
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Market Drivers & Challenges
Key Growth Drivers:
- Increasing elderly population worldwide
- Higher life expectancy creating sustained demand
- Rising need for long-term housing with healthcare assistance
Key Restraint:
- Workforce shortage—a lack of skilled caregivers, nurses, and support staff remains a major hurdle in delivering quality services.
Competitive Landscape & Strategic Developments
The market is highly competitive, with leading global players investing in facility expansion to strengthen their presence and service capacity. Key players rely on brand trust and service quality to maintain market dominance.
Recent Industry Developments:
- July 2024– Edelweiss Village (U.S.) launched new assisted living memory care apartments.
- September 2022– Athulya Senior Care (India) opened a new facility in Bengaluru offering 24/7 clinical care, geriatric assistance, housing, and more.
- December 2020– Antara Senior Living (Max Group, India) launched a 37-bed care facility in Delhi, offering daily assistance and elder care services.
