The Business Research Company’s Retirement Communities Market – By Type, By Region, Opportunities And Strategies – Global Forecast To 2023
LONDON, GREATER LONDON , UK, August 19, 2021 /EINPresswire.com/ — According to the new market research report ‘Retirement Communities Market – By Type (Continuing Care Retirement Communities, Rest Homes, Assisted Living Facilities, Assisted Living Facilities With Nursing Care), By Region, Opportunities And Strategies – Global Forecast To 2023’ published by The Business Research Company, the retirement communities market reached a value of nearly $2.19 trillion in 2019, having grown at a compound annual growth rate (CAGR) of 8.6% since 2015, and is expected to grow at a CAGR of 9.8% to nearly $3.17 trillion by 2023. Growth in the forecast period will be driven by the increasing geriatric population, increasing prevalence of age-related diseases, and technological advances in elderly healthcare.
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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.
Trends In The Global Retirement Communities Market
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. Moreover, 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 Centers for Medicare & Medicaid Services (CMS) has implemented individualized service plans for long-term care patients.
Global Retirement Communities Market Segments:
The global retirement communities’ market is further segmented based on type and geography.
By Type- The retirement communities’ market is segmented by type into continuing care retirement communities, assisted living facilities with nursing care, assisted living facilities, rest homes
By Geography: The global retirement communities’ market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa
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Retirement Communities Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides retirement communities market overviews, analyzes and forecasts market size and growth for the global retirement communities market, retirement communities market share, retirement communities market players, retirement communities market segments and geographies, retirement communities market’s leading competitors’ revenues, profiles and market shares. The retirement communities market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Retirement Communities Market Organizations Covered: HC-One Ltd., Brookdale Senior Living Inc., Five Star Senior Living, Holiday Retirement, Sunrise Senior Living
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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