MARKET OVERVIEW
The retirement community is a housing community that consists of sales of retirement community care services and goods via entities that provide accommodation and nursing care services to the elderly people who are partially or fully retired and are unable to fully care for themselves and require assistance from home care agencies. The primary customer for retirement communities includes the population aged 60 years and above. The care provided in the retirement communities' service includes residential settings with meals, supervision, and assistance in daily living, such as housekeeping services and other services. Socialization activities and opportunities are also provided through these communities.
MARKET SCOPE
The "Global Retirement Communities Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the retirement communities market with detailed market segmentation by type, and geography. The report provides key statistics on the market status of the leading retirement communities market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global retirement communities market is segmented into continuing care retirement communities, assisted living facilities with nursing care, assisted living facilities and rest homes.
MARKET DYNAMICS
Drivers:
- Rise in elderly populations.
- Increase in life expectancy rates worldwide.
- Increase in the prevalence of age-related diseases such as cardiovascular disease, arthritis, osteoporosis, diabetes, and Alzheimer`s disease.
- Technological advancement in elderly healthcare.
Restraints:
- Less access to retirement communities.
- Scarcity of skilled human resources such as nurses.
- Insufficient public health insurance coverage.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The retirement communities market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the retirement communities market in these regions.
IMPACT OF COVID-19ON RETIREMENT COMMUNITIES MARKET
COVID-19 first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. Due to this, there was a significant impact on the retirement communities market. As the government imposed several restrictive measures to reduce virus transmission, the manufacturing, supply chain, economies, and industries in various countries were disrupted. Also, due to lockdowns and business shutdowns, the market growth was affected. As older people were at higher risk of getting infected and spreading the virus because of retirement community characteristics, including frequent social activities, group dining facilities, community activities, and shared transportation. Therefore, the more people a resident or worker interacts with, the longer the duration, the higher the risk of COVID-19 transmission. Hence, various measures were taken to prevent this that impacted the market's growth in the forecast period.
MARKET PLAYERS
The report covers key developments in the retirement communities market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from retirement communities market are anticipated to have lucrative growth opportunities in the future with the rising demand for retirement communities in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the retirement communities market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Brookdale Senior Living Inc.
- Atria Senior Living Group
- HC-One Ltd.
- Sunrise Senior Living
- Capital Senior Living Corp.
- Five Star Senior Living
- Holiday Retirement
- Erickson Living
- Affinity Living Group
- Delmanor Seniors' Communities
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