The global assisted living market size was valued at USD 171.15 billion in 2024. The market is projected to reach USD 271.50 billion by 2032, recording a CAGR of 5.94% during the forecast period.
Assisted living refers to a residential & care arrangement designed for older adults who wish to maintain their independence, as well as individuals with disabilities who require some assistance with daily tasks but do not need constant medical supervision. Almost 60% of older adults will require some form of long-term care in the coming future. This factor is driving the growth of the market.
The COVID-19 pandemic had a profound effect on the market due to government-imposed lockdowns in 2020. Facilities adopted strict control measures, resulting in heightened operational costs. Additionally, many establishments faced reduced occupancy rates because of hesitance and restrictions on new admissions. Staffing shortages arose as employees dealt with illness and apprehension about working in high-risk settings.
Fortune Business Insights™ displays this information in a report titled, “Assisted Living Market, 2025-2032."
Tarrif Imapact Analysis for Assisted Living Market: https://www.fortunebusinessinsights.com/assisted-living-market-111474
Top Company in the Assisted Living Market
Segmentation:
Chain-Affiliated Segment Led Market Driven by Surge in Number of Chain-Affiliated Facilities Globally
Based on ownership, the market is bifurcated into chain affiliated and independently owned. The chain-affiliated segment led the market in 2023, driven by the increasing number of chain-affiliated facilities globally. These chains typically uphold uniform care standards across their locations, providing families with confidence in reliable services, which boosts the growth of this segment.
Women Segment Dominated Market Due to Expanding Population of Elder Women