The U.S. assisted living facility and neurorehabilitation market size is expected to reach USD 150 billion by 2027 and expanding at a CAGR of around 5.0% over the forecast period 2020 to 2027.
The U.S. assisted living facility and neurorehabilitation market size was valued at USD 101.1 billion in 2019, according to a new report by Vision Research Reports.
Increasing awareness, the desire of consumers to age in home-based services, and an increasing number of Traumatic Brain Injury (TBI) survivors seeking residential care post-neuro-rehab are the major factors driving the growth of the market. In addition, the lower cost of ALFs as compared to nursing homes will propel the market. The growing geriatric population in need of a supportive environment and continuous care will fuel the growth of the market.
Women held a revenue share of around 68.1% in 2019 and the segment is predicted to exhibit the fastest growth over the forecast period. This can be attributed to the greater life expectancy of women and higher rates of disability and chronic health problems
On the basis of age, the more than 85 years segment accounted for the largest share of around 51.2% in 2019. This segment is expected to expand at the fastest pace through 2027
Increasing regulations on ALFs to ensure proper care and coordinated services could restrain the growth of the market. In the U.S., state-level regulation is enforced for licensing and certification and may vary in different states
Strategic initiatives undertaken by various market players are expected to keep growth prospects upbeat in the following years
Rising incidence of TBI drives the market for neurorehabilitation facilities. These patients are often discharged from ALFs based on the duration of treatment
Competition in the market is very high and strict regulations and licensing are expected to pose barriers for new entrants.
Some of the prominent players are:
Centre For Neuro Skills
Mary Lee Foundation
The MENTOR Network
Texas NeuroRehab Center
Texas Rehabilitation and Habilitation Specialists, LLC
Moody Neurorehabilitation Institute
More than 85 years
Less than 65 years