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2024 U.S. Industry Statistics & Market Forecast - Assisted Living Facilities for the Elderly
Market Size & Industry Statistics
The total U.S. industry market size for Assisted Living Facilities for the Elderly:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Retirement & Nursing Homes industry has been experiencing several key trends in recent years. One trend is the aging population, which has led to an increased demand for healthcare services and long-term care facilities. This trend has been influenced by the baby boomer generation, which has been retiring and requiring more specialized care. Another trend is the rise of technology-enabled care services, which has led to the development of new digital platforms and remote care options.There has also been an upswing in "aging in place" services, where elderly people receive assistance in their homes instead of entering care facilities. This trend is driven by the desire of seniors to maintain their independence for as long as possible. Furthermore, the COVID-19 pandemic has brought additional changes to the industry. With social distancing protocols and isolation measures, innovative approaches to telemedicine and virtual consultations have been put in place. These have helped to reduce the risk of exposure to the virus while providing crucial care.
In addition to social trends, regulatory and reimbursement changes continue to have a significant impact on the industry. For example, changes in Medicare and Medicaid programs have influenced the types of services available and the quality of care provided. Finally, there has been an increase in consumerism, where patients and their families are more informed and proactive when it comes to their healthcare needs. This has led to the emergence of more personalized care and the creation of new services and amenities.
Product & Services Breakdown
Research products and services in the Assisted Living Facilities for the Elderly industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Independent Living Services |
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Daily Assisted Living Services Without Rehabilitation And Counseling Services (Include Children And Adults. Exclude Nursing Faci |
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Daily Assisted Living Services - Mental Rehabilitation Services For The Intellectually And Developmentally Disabled Or The Menta |
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Daily Assisted Living And Skilled Nursing Services Without Rehabilitation Services |
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Daily Assisted Living Services - With Physical, Speech, And/Or Occupational Rehabilitation Services |
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Daily Assisted Living Services - With Physical, Speech, And/Or Occupational Rehabilitation Services - Adults |
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All Other Receipts |
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All Other Operating Receipts |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Assisted Living Facilities for the Elderly company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Assisted Living Facilities for the Elderly industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Assisted Living Facilities for the Elderly measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 4% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 1% | |||
| Healthcare Practitioners and Technical Occupations | 9% | |||
| Health Technologists and Technicians | 5% | |||
| Healthcare Support Occupations | 44% | |||
| Home Health and Personal Care Aides; and Nursing Assistants, Orderlies, and Psychiatric Aides | 43% | |||
| Home Health and Personal Care Aides | 27% | |||
| Nursing Assistants, Orderlies, and Psychiatric Aides | 16% | |||
| Nursing Assistants | 16% | |||
| Food Preparation and Serving Related Occupations | 18% | |||
| Cooks and Food Preparation Workers | 6% | |||
| Food and Beverage Serving Workers | 8% | |||
| Food Servers, Nonrestaurant | 7% | |||
| Food Servers, Nonrestaurant | 7% | |||
| Building and Grounds Cleaning and Maintenance Occupations | 6% | |||
| Building Cleaning and Pest Control Workers | 6% | |||
| Building Cleaning Workers | 6% | |||
| Office and Administrative Support Occupations | 5% | |||
Assisted Living Facilities for the Elderly Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Assisted Living Facilities for the Elderly industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Assisted Living Facilities for the Elderly industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Assisted Living Facilities for the Elderly industry. |
Source:
Innovation News
- May 09, 2023: Sunland Springs Memory Care trademarks "SUMMIT" - Providing memory care nursing services within assisted living facilities
- Apr 17, 2023: Family Connect Care trademarks "VERY HIP" - Pants; Bottoms as clothing
- Apr 14, 2023: Family Connect Care trademarks "LIVE LOVE ART" - Art therapy activities for people with dementia, Alzheimer's, Parkinsons and traumatic brain injuries
- Aug 02, 2019: Gardens of Germantown Holdco raises $4 million in funding.
- Oct 24, 2018: Traditions at Rivertown Park raises $14 million in funding.
- May 10, 2018: Traditions at Rivertown Park raises $12 million in funding.
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