Retirement communities are housing complexes for the elderly who are generally able to care for themselves. They might require assistance from home care agencies, activities and socialization opportunities are often provided by residential communities. These are designed for residents who have retired from their active working life.
The global retirement communities market was valued at $25.2 billion in 2017. North America was the largest geographic region accounting for $10.46 billion or 41.50% of the global market. The USA was the largest country accounting for $9.12 billion or 36.20% of the global retirement communities services market.
Retirement communities are designed to appeal to niche groups of seniors with similar cultures and tastes. Retirement communities are now offering enjoyable activities which is more person-centric such as yoga, tai chi, exercise classes, game nights, barbecues, book clubs, and organized group outings to theaters, museums, and restaurants with a greater emphasis on meaningful socialization.
The companies covered are Brookdale Senior Living Inc, Aveo Group, and Stockland.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
The retirement communities market is segmented into Assisted Living Facilities, Assisted Living Facilities For The Elderly Without Nursing Care, Continuing Care Retirement Communities, and Rest Homes Without Nursing Care.
Assisted Living Facilities comprises establishments primarily engaged in providing residential and personal care services (i.e., without on-site nursing care facilities) for (1) the elderly or other persons who are unable to fully care for themselves and/or (2) the elderly or other persons who do not desire to live independently. The care typically includes room, board, supervision, and assistance in daily living, such as housekeeping services.
Assisted Living Facilities For The Elderly Without Nursing Care comprises establishments primarily engaged in providing assisted living facilities for elderly people. These establishments do not provide any nursing care.
Continuing Care Retirement Communities comprises establishments primarily engaged in providing a range of residential and personal care services with on-site nursing care facilities for (1) the elderly and other persons who are unable to fully care for themselves and/or (2) the elderly and other persons who do not desire to live independently. Individuals live in a variety of residential settings with meals, housekeeping, social, leisure, and other services available to assist residents in daily living. Assisted living facilities with on-site nursing care facilities are included in this industry.
Rest Homes Without Nursing Care comprises establishments primarily engaged in providing rest homes for elderly people. These establishments do not provide any nursing care.