Continuing Care & Assisted Living Facilities Industry Profile

Companies in this industry provide residential and personal care services for the elderly and others who need or want assistance. Major companies include Brookdale Senior Living, Five Star Senior Living, and Sunrise Senior Living (all based in the US), as well as Housing 21 (UK), Sienna Senior Living (Canada), and Tertianum (Switzerland).

There were about 730 million people aged 65 years or over worldwide in 2020, and the number is projected to more than double by 2050, according to the United Nations' World Population Ageing 2020. Countries with the highest population growth rate in 2021 include South Sudan, Burundi, Niger, Angola, and Benin, according to Statista.

The US continuing care and assisted living facilities industry includes about 25,000 establishments (single-location companies and branches of multi-location companies) with combined annual revenue of $65 billion. Companies that provide residential skilled nursing services are covered in a separate profile.

COMPETITIVE LANDSCAPE

Demand for continuing care is strong due to rapidly aging senior populations in the US and other developed nations. The profitability of individual facilities depends on efficient operations and positive relations with payers, including families and government and commercial insurers. Large companies have some economies of scale in administration and purchasing. Small operators can compete effectively by offering quality service and attractive amenities, or by operating in a prime location. The US industry is fragmented: the 50 largest companies account for about 30% of revenue.