Nearly 5% annual growth for this industry over the next five years as the number of adult’s ages 65 and older continues to grow.
The $60.2
billion Retirement Communities
industry includes businesses that provide “residential and personal care
services for the elderly and other individuals who are unable to fully care for
themselves or who desire to live in a community facility.”[13]Market research firm IBISWorld projects nearly 5% annual growth for this
industry over the next five years as the number of adult’s ages 65 and older
continues to grow. IBISWorld reports, “An aging population and growing need for
dementia care (care provided to those with memory impairment) are stimulating
much of the industry’s growth. Retirement communities provide a number of
services to assist seniors who suffer from chronic illnesses or with activities
of daily living. In the past five years, the number of assisted living
facilities that provide
dementia care
has risen as a proportion of total facilities.”[14]
The following charts provided by IBISWorld, present an overview of the Retirement Communities industry in the United States.[15]
The following charts provided by IBISWorld, present an overview of the Retirement Communities industry in the United States.[15]
[13] IBISWorld. “Retirement Communities in the United
States.” July 2014. Source: http://www.ibisworld.com
[14] Ibid.
[15] Ibid.
[14] Ibid.
[15] Ibid.
