Retirement Community Market - By Type (Continuing Care Retirement Communities, Assisted Living Facilities with Nursing Care, Assisted Living Facilities, and Rest Homes), and By Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Industry Analysis, Opportunity and Forecast 2020 To 2027
Published Date: May 2021
No. of Pages: 203
Status: Published
Report Code: ARI100511
The retirement communities market consists of sales of retirement community care services and related goods by entities that provide accommodation and nursing care services for the elderly who are generally able to care for themselves but might require assistance from home care agencies. The care in retirement communities’ service typically includes room, board, supervision, and assistance in daily living, such as housekeeping services. Activities and socialization opportunities are often provided by retirement communities. The major clientele for retirement communities is the population aged 60 years and above.
Growth in the historic period can be attributed to the rise in elderly populations and increased life expectancy rates globally. The percentage of population aged 65 and above in the global population has increased from 6.9% in 2000 to 8.9% in 2018. In 2015, the global life expectancy at birth was estimated at 70.8 years. Since 1950-1955, life expectancy at birth has risen by more than 10 years in Northern America, Europe and Oceania, and by close to 25 years in Latin America and the Caribbean. Factors that will negatively affect the market are low access to retirement communities, shortages of skilled human resources, and insufficient public health insurance coverage.
Some of the key players involved in the Retirement Communities Market are HC-One Ltd., Brookdale Senior Living Inc., Five Star Senior Living, Holiday Retirement, and Sunrise Senior Living.
Analyst Commentary
The top opportunities in the global retirement communities’ market will arise in the rest homes without nursing care segment, which will gain $15.6 billion and the retirement community’s market size will gain the most in the USA at $11.82 billion.
Growth in the forecast period will be driven by the rapidly aging population, increasing life expectancy, increasing prevalence of age-related diseases, and technological advances in elderly healthcare. The larger population of seniors results directly from the combination of historic birth patterns and increased longevity.
Major trends influencing the retirement communities market include: Retirement community service providers are developing individualized service plans to treat and aid individuals to recover from chronic disease conditions. Individualized service plans are developed by considering factors such as physical needs, mental needs, living situation and compliance to medications. A service plan includes the individual’s unique list of medical conditions and personalized treatment plans. Retirement community care providers make use of big data to derive information on individuals and track their health conditions to provide a specialized service plan to better serve the individuals. Customized service plans are improving treatment outcomes and enabling retirement community service providers to increase their revenues. The Centres for Medicare & Medicaid Services (CMS) has implemented individualized service plans for long-term care patients.
Telehealth technology is extensively being used by nursing care providers in retirement communities to improve the quality of care being offered to the residents. Telehealth is the use of digital and communication technologies to remotely access the health care services. Telehealth provides a wide range of diagnostic, therapeutic, care management services and supporting tools for the caregivers such as assisted living personnel and retirement communities’ on-site doctors and nurses. It includes other technologies and services such as virtual visits conducted over live video, email services, remote patient monitoring and activity monitoring depending on individual needs. Major companies offering telehealth services include 19 Labs, 3Derm Systems, A &D Medical, Advanced ICU Care, and Advanced Telehealth Solutions.
The key restraints on the retirement communities market include: Inadequate health provision is expected to be a major barrier for the growth of the retirement community’s industry in the forecast period, limiting growth opportunities for assisted living facilities with nursing care and continuing care retirement communities. Lack of public health insurance coverage, especially in developing countries, restricts access to healthcare for many people. According to the WHO and the World Bank, 400 million people globally do not have access to essential health services, and 6% of people in low and middle-income countries pushed further into extreme poverty because of low healthcare expenditure. Inadequate pubic health insurance schemes in developing economies are expected to be one of the major restraints on the retirement communities market.
Private equity has been investing in senior housing at a rapid rate, and with huge funds ready to deploy, these firms are poised to bring even more capital to the space in 2020 and beyond. While some in the industry are concerned about operators aligning with undisciplined capital that is rushing to senior housing based on demographics, aligning with the right private equity partner could also allow hungry providers to scale up and innovate. Lake Oswego, Oregon-based Seasons Living exemplifies this trend, making it a company to watch in near future.
Segmentation
The retirement communities’ market is segmented by type of mental disorder, by type of patient and by geography. The retirement communities market is segmented by type into: Continuing Care Retirement Communities, Assisted Living Facilities with Nursing Care, Assisted Living Facilities, and Rest Homes. The top opportunities in the global retirement communities’ market will arise in the rest homes without nursing care segment, which will gain $15.6 billion and the retirement communities’ market size will gain the most in the USA at $11.82 billion. The continuing care retirement community market was the largest segment of the retirement community market, accounting for $106.5 billion or 48.7% of the total in 2020.
The retirement communities market is segmented by geography into: North America (USA), Western Europe (UK, Germany, France, Spain, and Italy), Asia-Pacific (China, Japan, India, Australia) Eastern Europe (Russia), South America (Brazil), Middle East, Africa.
Retirement communities are often built in warm climates, and are common in Arizona, California, Florida, and Texas, but they are increasingly being built in and around major cities throughout the United States. The oldest known and longest continuously running retirement community in the United States is Ryderwood, Washington. Ryderwood was originally established in 1923 as a Long-Bell logging camp, then was sold to Senior Estates, Inc. in 1953 to create a retirement community. Senior Estates, Inc. converted the town into a retirement community. Time Magazine covered the event in the Real Estate section with the article "Old Folks at Home". As of 2020, Ryderwood remains a retirement community. Del Webb opened Sun City, Arizona, with the active adult concept, in 1960. In 2011, The Villages, Florida became the largest of these communities. While new retirement communities have developed in various areas of the United States, they are largely marketed to older adults who are financially secure. Lower income retirement communities are rare except for government subsidized housing, which neglects a large proportion of older adults who have fewer financial resources.
Regional Analysis
Regions include: Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Western Europe was the largest region in the retirement communities market, accounting for 41.6% of the global market in 2020. It was followed by North America, Asia-Pacific and then the other regions. Going forward, the fastest growing regions in the retirement communities market will be the Middle East and Africa, where growth will be at CAGRs of 17.3% and 16.1% respectively. These will be followed by Asia-Pacific and South America, where the markets are expected to grow at CAGRs of 15.6% and 12.9% respectively.
TABLE OF CONTENTS
Chapter 1. Executive Summary
Chapter 2. Research Methodology
2.1. Research approach
2.2. Scope, definition, and assumptions
2.3. Data Sources
2.3.1. Secondary Sources
2.3.1.1. Preliminary data mining
2.3.2. Primary Sources
2.3.2.1. Statistical Model
2.3.2.2. Data Triangulation
2.3.2.3. Research Objective
Chapter 3. Market Outlook
3.1. Introduction
3.2. Key trends
3.2.1. xx
3.3. Market drivers
3.3.1. Impact analysis of Market Drivers
3.4. Market restraints
3.4.1. Impact analysis of Market Restraints
3.5. Market opportunities
3.5.1. Impact analysis of Market Opportunities
3.6. Market Challenges
3.6.1. Impact analysis of Market Trends
3.7. Porter’s Five Forces’ analysis
3.7.1. Bargaining Engine Powered of Suppliers
3.7.2. Bargaining Engine Powered of Buyers
3.7.3. Threat of New Entrant
3.7.4. Threat of Substitutes
3.7.5. High Competitive Rivalry
3.8. Value chain analysis
Chapter 4. COVID-19 Impact On Retirement Community Market
Chapter 5. Global Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
5.1. Global Retirement Community Market Share, By Type, 2015 - 2027 (USD Billion)
5.1.1. Continuing Care Retirement Communities
5.1.1.1. Market Size and Projections, 2015 - 2027 (USD Billion)
5.1.1.2. Market Size and Projections, by Region, 2015 - 2027 (USD Billion)
5.1.2. Assisted Living Facilities With Nursing Care
5.1.2.1. Market Size and Projections, 2015 - 2027 (USD Billion)
5.1.2.2. Market Size and Projections, by Region, 2015 - 2027 (USD Billion)
5.1.3. Assisted Living Facilities
5.1.3.1. Market Size and Projections, 2015 - 2027 (USD Billion)
5.1.3.2. Market Size and Projections, by Region, 2015 - 2027 (USD Billion)
5.1.4. Rest Homes
5.1.4.1. Market Size and Projections, 2015 - 2027 (USD Billion)
5.1.4.2. Market Size and Projections, by Region, 2015 - 2027 (USD Billion)
Chapter 6. Global Retirement Community Market Overview, By Geography, 2015 - 2027 (USD Billion)
6.1. Global Retirement Community Market Share, By Geography, 2015 - 2027 (USD Billion)
6.1.1. Market Size and projections, by Countries, 2015 - 2027 (USD Billion)
6.1.2. Market Share and CAGR Comparison, by Countries, 2020 & 2027 (%)
Chapter 7. North America Retirement Community Market Overview, By Countries, 2015 - 2027 (USD Billion)
7.1. North America Retirement Community Market Overview, 2015 - 2027 (USD Billion)
7.1.1. Market size and projections, 2015 - 2027 (USD Billion)
7.1.2. North America Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
7.1.3. North America Retirement Community Market Overview, By Countries, 2015 - 2027 (USD Billion)
7.1.3.1. U.S. Retirement Community Market Overview, 2015 - 2027 (USD Billion)
7.1.3.1.1. Market size and projections, 2015 - 2027 (USD Billion)
7.1.3.1.2. U.S. Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
7.1.3.1.3. Other Segments
7.1.3.2. Canada Retirement Community Market Overview, 2015 - 2027 (USD Billion)
7.1.3.2.1. Market size and projections, 2015 - 2027 (USD Billion)
7.1.3.2.2. Canada Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
7.1.3.2.3. Other Segments
7.1.3.3. Mexico Retirement Community Market Overview, 2015 - 2027 (USD Billion)
7.1.3.3.1. Market size and projections, 2015 - 2027 (USD Billion)
7.1.3.3.2. Mexico Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
7.1.3.3.3. Other Segments
Chapter 8. Europe Retirement Community Market Overview, By Countries, 2015 - 2027 (USD Billion)
8.1. Europe Retirement Community Market Overview, 2015 - 2027 (USD Billion)
8.1.1. Market size and projections, 2015 - 2027 (USD Billion)
8.1.2. Europe Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
8.1.3. Europe Retirement Community Market Overview, By Countries, 2015 - 2027 (USD Billion)
8.1.3.1. Germany
8.1.3.1.1. Market size and projections, 2015 - 2027 (USD Billion)
8.1.3.1.2. Germany Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
8.1.3.1.3. Others Segments
8.1.3.2. France
8.1.3.2.1. Market size and projections, 2015 - 2027 (USD Billion)
8.1.3.2.2. France Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
8.1.3.2.3. Others Segments
8.1.3.3. UK
8.1.3.3.1. Market size and projections, 2015 - 2027 (USD Billion)
8.1.3.3.2. UK Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
8.1.3.3.3. Others Segments
8.1.3.4. Italy
8.1.3.4.1. Market size and projections, 2015 - 2027 (USD Billion)
8.1.3.4.2. Italy Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
8.1.3.4.3. Others Segments
8.1.3.5. Spain
8.1.3.5.1. Market size and projections, 2015 - 2027 (USD Billion)
8.1.3.5.2. Spain Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
8.1.3.5.3. Others Segments
8.1.3.6. Rest of Europe
8.1.3.6.1. Market size and projections, 2015 – 2027
8.1.3.6.2. Rest of Europe Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
8.1.3.6.3. Others Segments
Chapter 9. Asia Pacific Retirement Community Market Overview, By Countries, 2015 - 2027 (USD Billion)
9.1. Asia Pacific Retirement Community Market Overview, 2015 - 2027 (USD Billion)
9.1.1. Market size and projections, 2015 - 2027 (USD Billion)
9.1.2. Asia Pacific Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
9.1.3. Asia Pacific Retirement Community Market Overview, By Countries, 2015 - 2027 (USD Billion)
9.1.3.1. India
9.1.3.1.1. Market size and projections, 2015 - 2027 (USD Billion)
9.1.3.1.2. India Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
9.1.3.1.3. Other Segments
9.1.3.2. China
9.1.3.2.1. Market size and projections, 2015 - 2027 (USD Billion)
9.1.3.2.2. China Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
9.1.3.2.3. Other Segments
9.1.3.3. Japan
9.1.3.3.1. Market size and projections, 2015 - 2027 (USD Billion)
9.1.3.3.2. Japan Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
9.1.3.3.3. Other Segments
9.1.3.4. South Korea
9.1.3.4.1. Market size and projections, 2015 - 2027 (USD Billion)
9.1.3.4.2. South Korea Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
9.1.3.4.3. Other Segments
9.1.3.5. Rest of Asia Pacific
9.1.3.5.1. Market size and projections, 2015 - 2027 (USD Billion)
9.1.3.5.2. Rest of Asia Pacific Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
9.1.3.5.3. Other Segments
Chapter 10. Middle East & Africa Retirement Community Market Overview, By Countries, 2015 - 2027 (USD Billion)
10.1. Middle East & Africa Retirement Community Market Overview, 2015 - 2027 (USD Billion)
10.1.1. Market size and projections, 2015 - 2027 (USD Billion)
10.1.2. Middle East & Africa Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
10.1.3. Middle East & Africa Retirement Community Market Overview, By Countries, 2015 - 2027 (USD Billion)
10.1.3.1. GCC
10.1.3.1.1. Market size and projections, 2015 - 2027 (USD Billion)
10.1.3.1.2. GCC Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
10.1.3.1.3. Other Segments
10.1.3.2. South Africa
10.1.3.2.1. Market size and projections, 2015 - 2027 (USD Billion)
10.1.3.2.2. South Africa Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
10.1.3.2.3. Other Segments
10.1.3.3. Rest of Middle East & Africa
10.1.3.3.1. Market size and projections, 2015 - 2027 (USD Billion)
10.1.3.3.2. Rest of Middle East & Africa Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
10.1.3.3.3. Other Segments
Chapter 11. South America Retirement Community Market Overview, By Countries, 2015 - 2027 (USD Billion)
11.1. South America Retirement Community Market Overview, 2015 - 2027 (USD Billion)
11.1.1. Market size and projections, 2015 - 2027 (USD Billion)
11.1.2. South America Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
11.1.3. South America Retirement Community Market Overview, By Countries, 2015- 2026 (USD Billion)
11.1.4. Brazil
11.1.4.1. Market size and projections, 2015 - 2027 (USD Billion)
11.1.4.2. Brazil Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
11.1.4.3. Other Segments
11.1.5. Argentina
11.1.5.1. Market size and projections, 2015 - 2027 (USD Billion)
11.1.5.2. Argentina Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
11.1.5.3. Other Segments
11.1.6. Rest of South America
11.1.6.1. Market size and projections, 2015 – 2026
11.1.6.2. Rest of South America Retirement Community Market Overview, By Type, 2015 - 2027 (USD Billion)
11.1.6.3. Other Segments
Chapter 12. Competitive Landscape
12.1. Competitive environment, 2020
12.2. Strategic framework
12.2.1. Partnership/agreement
12.2.2. Expansion
12.2.3. Mergers & Acquisitions
12.2.4. New product development
Chapter 13. Key Vendor Analysis
13.1. HC-One Ltd
13.1.1. Company overview
13.1.2. Financial performance
13.1.3. Product Benchmarking
13.1.4. Recent initiatives
13.1.5. SWOT analysis
13.2. Brookdale Senior Living Inc
13.2.1. Company overview
13.2.2. Financial performance
13.2.3. Product Benchmarking
13.2.4. Recent initiatives
13.2.5. SWOT analysis
13.3. Five Star Senior Living
13.4. Holiday Retirement
13.5. Sunrise Senior Living
13.6. Erickson Living
13.7. Affinity Living Group
13.8. Atria Senior Living Group
13.9. Aveo Group
13.10. Covenant Retire Communities Inc
Chapter 14. Retirement Community Market Cost Analysis
14.1. Retirement Community Market Key Raw Types Analysis
14.1.1. Key Raw Types
14.1.2. Price Trend of Key Raw Types
14.1.3. Key Suppliers of Raw Types
14.1.4. Market Concentration Rate of Raw Types
Chapter 15. Industrial Chain, Sourcing Strategy and Downstream Buyers
15.1. Retirement Community Market Industrial Chain Analysis
15.2. Upstream Raw Types Sourcing
15.3. Raw Types Source of Retirement Community Market Major Manufacturers in 2019
15.4. Downstream Buyers
Chapter 16. Marketing Strategy Analysis, Distributors/Traders
16.1. Marketing Channel
16.1.1. Direct Marketing
16.1.2. Indirect Marketing
16.1.3. Marketing Channel Development Trend
16.2. Market Positioning
16.2.1. Pricing Strategy
16.2.2. Brand Strategy
16.2.3. Target Client
16.3. Distributors/Traders List
Chapter 17. Market Effect Factors Analysis
17.1. Technology Progress/Risk
17.1.1. Substitutes Threat
17.1.2. Technology Progress in Related Industry
17.2. Consumer Needs/Customer Preference Change
17.3. Economic/Political Environmental Change
Chapter 18. Future Outlook of the Market
Disclaimer
List of Figures
1. Market segmentation
2. Value chain analysis
3. Porter’s Five Forces’ analysis
4. Engine Powered of Suppliers
5. Engine Powered of Buyers
6. Threat of New Entrants
7. Threat of Substitute
8. Competitive Rivalry
9. Global Retirement Community Market share, By Type, 2020 & 2027 (%)
10. Global Retirement Community Market share, by Continuing Care Retirement Communities, By Type, 2020 & 2027 (USD Billion)
11. Global Retirement Community Market share, by Assisting Facilities With Living Care, By Type 2020 & 2027 (USD Billion)
12. Global Retirement Community Market share, by Assisted Living Facilities, By Type 2020 & 2027 (USD Billion)
13. Global Retirement Community Market share, by Rest Homes, By Type 2020 & 2027 (USD Billion)
14. Global Retirement Community Market share, by region, 2020 & 2027 (%)
15. Global Retirement Community Market share, by region, 2020 - 2027(USD Billion)
16. North America Retirement Community Market, 2020 - 2027(USD Billion)
17. North America Retirement Community Market share, by Countries, 2020 & 2027 (%)
18. U.S. Retirement Community Market, 2020 - 2027(USD Billion)
19. Canada Retirement Community Market, 2020 - 2027(USD Billion)
20. Europe Retirement Community Market, 2020 - 2027(USD Billion)
21. Europe Retirement Community Market share, by Countries, 2020 & 2027 (%)
22. Spain Retirement Community Market, 2020 - 2027(USD Billion)
23. UK Retirement Community Market, 2020 - 2027(USD Billion)
24. Italy Retirement Community Market, 2020 - 2027(USD Billion)
25. Germany Retirement Community Market, 2020 - 2027(USD Billion)
26. France Retirement Community Market, 2020 - 2027(USD Billion)
27. Rest of Europe Retirement Community Market, 2020 - 2027(USD Billion)
28. Asia-Pacific Retirement Community Market, 2020 - 2027(USD Billion)
29. Asia-Pacific Retirement Community Market share, by Countries, 2020 & 2027 (%)
30. China Retirement Community Market, 2020 - 2027(USD Billion)
31. India Retirement Community Market, 2020 - 2027(USD Billion)
32. Australia Retirement Community Market, 2020 - 2027(USD Billion)
33. Japan Retirement Community Market, 2020 - 2027(USD Billion)
34. Rest of Asia-Pacific Retirement Community Market, 2020 - 2027(USD Billion)
35. Middle East & Africa Retirement Community Market, 2020 - 2027(USD Billion)
36. Middle East & Africa Retirement Community Market share, by Countries, 2020 & 2027 (%)
37. GCC Retirement Community Market, 2020 - 2027(USD Billion)
38. South Africa Retirement Community Market, 2020 - 2027(USD Billion)
39. Rest Of Middle East & Africa Retirement Community Market, 2020 - 2027(USD Billion)
40. South America Retirement Community Market, 2020 - 2027(USD Billion)
41. Brazil Retirement Community Market, 2020 - 2027(USD Billion)
42. Mexico Retirement Community Market, 2020 - 2027(USD Billion)
43. Argentina Retirement Community Market, 2020 - 2027(USD Billion)
44. Rest Of South America Retirement Community Market, 2020 - 2027(USD Billion)
List of Tables
1. Impact of Market drivers
2. Impact of Market restraints
3. Global Retirement Community Market, 2020-2027 (USD Billion)
4. Retirement Community requirement, by country, 2020-2027, (USD Billion)
5. North America Retirement Community Market, By Type, 2020-2027 (USD Billion)
6. Europe Retirement Community Market, By Type, 2020-2027 (USD Billion)
7. Asia Pacific Retirement Community Market, By Type, 2020-2027 (Revenue, (USD Billion)
8. Middle East & Africa Retirement Community Market, By Type, 2020-2027 (USD Billion)
9. South America Retirement Community Market, By Type, 2020-2027 (USD Billion)
10. Global Retirement Community Market, Company Market Share, 2020 & 2027(%)
11. HC-One Ltd.: Product Benchmarking
12. 12. HC-One Ltd.: Financial Performance
13. Brookdale Senior Living Inc. Product Benchmarking
14. Brookdale Senior Living Inc. Financial Performance
15. Five Star Senior Living: Product Benchmarking
16. Five Star Senior Living: Financial Performance
17. Holiday Retirement: Product Benchmarking
18. Holiday Retirement: Financial Performance
19. Sunrise Senior Living: Product Benchmarking
20. Sunrise Senior Living: Financial Performance
21. Erickson Living: Product Benchmarking
22. Erickson Living: Financial Performance
23. Affinity Living Group: Product Benchmarking
24. Affinity Living Group: Financial Performance
25. Atria Senior Living Group: Product Benchmarking
26. Atria Senior Living Group: Financial Performance
27. Aveo Group: Product Benchmarking
28. Aveo Group: Financial Performance
29. Covenant Retire Communities Inc.: Product Benchmarking
30. Covenant Retire Communities Inc.: Financial Performance
The Leading Key Players in Retirement Community Market
HC-One Ltd.
Brookdale Senior Living Inc.
Five Star Senior Living
Holiday Retirement
Sunrise Senior Living.
