DUBLIN — The U.S. assisted living market is experiencing robust growth, driven by several factors including the increasing number of baby boomers, a rising aging population, higher healthcare expenditure, and a growing preference for independent living. The market is currently characterized by substantial activity, with a promising outlook for the future.
A recent report from ResearchAndMarkets.com valued the U.S. assisted living market at $97.6 billion in 2022 and predicted it will reach $133.4 billion by 2029 with a compound annual growth rate (CAGR) of 5.35 percent.
The report — titled “US Assisted Living Facilities Market – Focused Insights 2023-2028” — singled out Western markets as the fastest growing, accounting for 41.1 percent of the country’s market.
ResearchAndMarkets.com is a Dublin-based source for international market research reports and market data. To view the full report, click here.