An assisted living facility provides residential care and support services for individuals who need help with daily activities but do not require intensive medical care. Neurorehabilitation is a specialized therapeutic approach aimed at improving the function and quality of life of individuals with neurological disorders or injuries. When combined, these services offer a comprehensive care environment where residents receive both daily living support and specialized neurological rehabilitation.
Sizing and Forecast
The assisted living facility and neurorehabilitation market size has grown strongly in recent years. It will grow from $44.19 billion in 2023 to $47.63 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to growing geriatric population demands, demand for neurorehabilitation centers, gaining traction of continuing-care retirement communities, and increasing number of traumatic brain injury (TBI) survivors.
The assisted living facility and neurorehabilitation market size is expected to see strong growth in the next few years. It will grow to $64.73 billion in 2028 at a compound annual growth rate (CAGR) of 8%. The growth in the forecast period can be attributed to the need for neurorehabilitation devices, rising incidence and prevalence of neurological disorders, growing income from the senior population, and the desire to live in senior housing communities for better healthcare. Major trends in the forecast period include advancements in medicine and technology, the adoption of computer-aided and electronic robotic devices, adoption of newer treatments at a fast rate, and technological advancements.
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Segmentation & Regional Insights
The assisted living facility and neurorehabilitation market covered in this report is segmented –
1) By Type: Women, Men
2) By Age: Less Than 65, 65-74, 75-84, More Than 85
3) By Application: Hospitals, Clinics, Personal Care, Other Applications
North America was the largest region in the assisted living facility and neurorehabilitation market in 2023. Asia-Pacific is expected to be the fastest growing region in the market. The regions covered in the assisted living facility and neurorehabilitation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing demand for personalized senior care services is expected to propel the growth of the assisted living facility and neurorehabilitation market going forward. Personalized senior care services are a wide range of services designed to help elderly individuals live. The demand for personalized senior care services is increasing due to the increase in the elderly population, their unique needs, and the demand for quality care. The integration of assisted living facilities and neurorehabilitation into personalized senior care services ensures comprehensive support, combining daily living assistance with specialized therapeutic interventions tailored to individual neurological needs. For instance, in June 2023, according to the Australian Institute of Health and Welfare, an Australia-based government agency, the number of people aged 65 and over living in permanent residential aged care increased by 3.1% during the last 5 years (from 172,000 on June 30, 2017, to 178,000 on June 30, 2022). Therefore, the growing demand for personalized senior care services is driving the growth of the assisted living facility and neurorehabilitation market.
Key Industry Players
Major companies operating in the assisted living facility and neurorehabilitation market are Community Health Systems Inc., Sevita Health, Encompass Health Corporation, Kindred Healthcare LLC, Brookdale Senior Living, Atria Senior Living Inc., SCA Health, Belmont VillAge L.P., Aegis Living, Craig Hospital, NeuroRestorative, Centre For Neuro Skills, Bioness Inc., Texas NeuroRehab Center, Catholic Eldercare, Moody Neurorehabilitation Institute, ResCare Inc., Sukino Healthcare Solutions Pvt. Ltd., TeamHealth, Mary Lee Foundation, Sanctus Rehabilitation Care Foundation
The assisted living facility and neurorehabilitation market report table of contents includes:
1. Executive Summary
2. Assisted Living Facility And Neurorehabilitation Market Characteristics
3. Assisted Living Facility And Neurorehabilitation Market Trends And Strategies
4. Assisted Living Facility And Neurorehabilitation Market – Macro Economic Scenario
5. Global Assisted Living Facility And Neurorehabilitation Market Size and Growth
…..
32. Global Assisted Living Facility And Neurorehabilitation Market Competitive Benchmarking
33. Global Assisted Living Facility And Neurorehabilitation Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Assisted Living Facility And Neurorehabilitation Market
35. Assisted Living Facility And Neurorehabilitation Market Future Outlook and Potential Analysis
36. Appendix
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