The U.S. memory care market size is anticipated to account for USD 8.61 billion by 2030, registering a CAGR of 5.1% from 2023 to 2030. As per the estimates of the CDC, the cost of caring for patients suffering from Alzheimer’s disease is expected to grow by 1,100 billion by 2050. In addition, technology is playing a crucial role in the growth of the market. Innovative solutions such as wearable devices, monitoring systems, and smart homes are helping caregivers monitor patients more effectively. There has been an increase in investments in the memory care industry, with private equity firms, real estate developers, and healthcare companies investing to expand memory care centers.
Furthermore, memory care facilities support with highest quality services for the patients experiencing various forms of dementia. Likewise, rapidly aging population in the U.S. has witnessed the increased prevalence of neurological disorders leading to the rising demand for memory care services. The growing number of memory care living centers has resulted in widespread adoption of memory care services. The factors such as tailored lifestyle, personal care, and housing for aging adults & emphasis on hospitality-style services and features are contributing to the market growth.
The COVID-19 pandemic had a significant impact on the memory care services in the U.S. This specialized sector of senior care, which focuses on assisting individuals with neurodegenerative diseases, faced significant challenges amidst the pandemic due to the proximity of residents in these facilities. Visitor restrictions were put in place to prevent the spread of COVID-19, which made it difficult for patients who rely on regular visits from family members and friends. Moreover, many patients experienced increased isolation and loneliness, which had a negative impact on their mental and physical health.
Furthermore, memory care facilities support with highest quality services for the patients experiencing various forms of dementia. Likewise, rapidly aging population in the U.S. has witnessed the increased prevalence of neurological disorders leading to the rising demand for memory care services. The growing number of memory care living centers has resulted in widespread adoption of memory care services. The factors such as tailored lifestyle, personal care, and housing for aging adults & emphasis on hospitality-style services and features are contributing to the market growth.
The COVID-19 pandemic had a significant impact on the memory care services in the U.S. This specialized sector of senior care, which focuses on assisting individuals with neurodegenerative diseases, faced significant challenges amidst the pandemic due to the proximity of residents in these facilities. Visitor restrictions were put in place to prevent the spread of COVID-19, which made it difficult for patients who rely on regular visits from family members and friends. Moreover, many patients experienced increased isolation and loneliness, which had a negative impact on their mental and physical health.
U.S. Memory Care Market Report Highlights
- Based on services, the memory exercise & activity services segment accounted for the largest market share of around 40% in 2022. A study published in the Journal of the American Geriatrics Society found that participation in cognitive training programs leads to improved cognitive function and a reduced risk of dementia. The personal assistance safety services segment is anticipated to grow at the fastest CAGR of 6.0 % over the forecast period.
- Based on end-use, the long-term care centers segment dominated the market in terms of revenue share of over 45% in 2022 and is also expected to witness the fastest CAGR of 5.5% over the forecast period. The U.S. Department of Health and Human Services (HHS) projects that 69% of the country's population is expecting long-term care services in the upcoming years.
Table of Contents
Chapter 1 Methodology and Scope1.1 Market Segmentation and Scope
1.1.1 Services
1.1.2 End-Use
1.1.3 Estimates And Forecast Timeline
1.2 Research Methodology
1.3 Information Procurement
1.3.1 Purchased Database:
1.3.2 Internal Database
1.3.3 Secondary Sources
1.3.4 Primary Research
1.3.5 Details Of Primary Research
1.4 Information Or Data Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation & Validation
1.6 Model Details
1.6.1 Commodity Flow Analysis (Model 1)
1.6.1.1 Approach 1: Commodity Flow Approach
1.6.2 Volume Price Analysis (Model 2)
1.6.2.1 Approach 2: Volume Price Analysis
1.7 List Of Secondary Sources
1.8 List Of Primary Sources
1.9 List Of Abbreviations
1.10 Objectives
1.10.1 Objective 1
1.10.2 Objective 2
1.10.3 Objective 3
1.10.4 Objective 4
Chapter 2 Executive Summary
2.1 Market Outlook
Chapter 3 U.S. Memory Care Market Variables, Trends & Scope
3.1 Penetration & Growth Prospect Mapping, 2022
3.2 Regulatory Framework
3.3 Market Dynamics
3.3.1 Market Driver Analysis
3.3.2 Market Restraints Analysis
3.4 U.S. Memory Care: Market Analysis Tools
3.4.1 Industry Analysis - Porter’s
3.4.2 Swot Analysis, By Pest
3.5 Impact Of Covid-19
Chapter 4 U.S. Memory Care Market: Segment Analysis, By Services, 2017 To 2030 (USD Million)
4.1 Definitions & Scope
4.2 Services Market Share Analysis, 2017 To 2030
4.3 U.S. Memory Care Market, By Services, 2017 To 2030
4.4 Market Size Forecasts And Trend Analysis
4.4.1 Memory Exercise & Activity Services
4.4.1.1 Memory Exercise & Activity Services Market, 2017 To 2030 (USD Million)
4.4.2 Daily Reminder Services
4.4.2.1 Daily Reminder Services Market, 2017 To 2030 (USD Million)
4.4.3 Personal Assistance Safety Services
4.4.3.1 Personal Assistance Safety Services Market, 2017 To 2030 (USD Million)
4.4.4 Dining Aids
4.4.4.1 Dining Aids Market, 2017 To 2030 (USD Million)
4.4.5 Communication Services
4.4.5.1 Communication Services Market, 2017 To 2030 (USD Million)
4.4.6 Personal Safety Services
4.4.6.1 Personal Safety Services Market, 2017 To 2030 (USD Million)
4.4.7 Others
4.4.7.1 Others Market, 2017 To 2030 (USD Million)
Chapter 5 U.S. Memory Care Market: Segment Analysis, By End-Use, 2017 To 2030 (USD Million)
5.1 Definitions & Scope
5.2 End-Use Market Share Analysis, 2017 To 2030
5.3 U.S. Memory Caremarket, By End-Use, 2017 To 2030
5.4 Market Size Forecasts And Trend Analysis
5.4.1 Long Term Care Centers
5.4.1.1 Long Term Care Centers Market, 2017 To 2030 (USD Million)
5.4.2 Home Care Settings
5.4.2.1 Home Care Settings Market, 2017 To 2030 (USD Million)
5.4.3 OTHERS
5.4.3.1 Others market, 2017 to 2030 (USD Million)
Chapter 6 U.S. Memory Care Market - Competitive Analysis
6.1 Company Profiles
6.2 BROOKDALE SENIOR LIVING
6.2.1 Company Overview
6.2.2 Financial Performance
6.2.3 Product Benchmarking
6.2.4 Strategic Initiatives
6.3 SUNRISE SENIOR LIVING
6.3.1 Company Overview
6.3.2 Financial Performance
6.3.3 Product Benchmarking
6.3.4 Strategic Initiatives
6.4 LIFE CARE SERVICES
6.4.1 Company Overview
6.4.2 Financial Performance
6.4.3 Product Benchmarking
6.4.4 Strategic Initiatives
6.5 FIVE STAR SENIOR LIVING
6.5.1 Company Overview
6.5.2 Financial Performance
6.5.3 Product Benchmarking
6.5.4 Strategic Initiatives
6.6 ATRIA SENIOR LIVING
6.6.1 Company Overview
6.6.2 Financial Performance
6.6.3 Product Benchmarking
6.6.4 Strategic Initiatives
6.7 ERICKSON LIVING
6.7.1 Company Overview
6.7.2 Financial Performance
6.7.3 Product Benchmarking
6.7.4 Strategic Initiatives
6.8 KENSINGTON PARK SENIOR LIVING
6.8.1 Company Overview
6.8.2 Financial Performance
6.8.3 Product Benchmarking
6.8.4 Strategic Initiatives
6.9 MASONICARE
6.9.1 Company Overview
6.9.2 Financial Performance
6.9.3 Product Benchmarking
6.9.4 Strategic Initiatives
6.10 PROMEDICA HEALTH SYSTEM, INC.
6.10.1 Company Overview
6.10.2 Financial Performance
6.10.3 Product Benchmarking
6.10.4 Strategic Initiatives
6.11 AZURA MEMORY CARE
6.11.1 Company Overview
6.11.2 Financial Performance
6.11.3 Product Benchmarking
6.11.4 Strategic Initiatives
6.12 AFFINITY LIVING GROUP
6.12.1 Company Overview
6.12.2 Financial Performance
6.12.3 Product Benchmarking
6.12.4 Strategic Initiatives
Chapter 7 KOL Commentary
List of Tables
Table 1 List of secondary sources
TABLE 2 U.S. memory care market estimates and forecasts, 2017 - 2030 (USD Million)
List of Figures
Fig. 1 U.S. Memory Care Market segmentation
FIG. 2 Market research process
FIG. 3 Information procurement
FIG. 4 Primary research pattern
FIG. 5 Market research approaches
FIG. 6 Value-chain-based sizing & forecasting
FIG. 7 QFD modeling for market share assessment
FIG. 8 Market formulation & validation
FIG. 9 Market outlook (2022)
FIG. 10 Penetration & growth prospect mapping, 2022
FIG. 11 Market driver relevance analysis (Current & future impact)
FIG. 12 Market restraint relevance analysis (Current & future impact)
FIG. 13 Porter’s five forces analysis
FIG. 14 SWOT analysis, by factor (political & legal, economic and technological)
FIG. 15 U.S. Memory Care market: Services movement analysis
FIG. 16 U.S. Memory Care Market services outlook: Key takeaways
FIG. 17 Memory exercise & activity services market, 2017 to 2030 (USD Million)
FIG. 18 Daily reminder services market, 2017 to 2030 (USD Million)
FIG. 19 Personal assistance safety services market, 2017 to 2030 (USD Million)
FIG. 20 Dining aids market, 2017 to 2030 (USD Million)
FIG. 21 Communication services market, 2017 to 2030 (USD Million)
FIG. 22 Personal safety services market, 2017 to 2030 (USD Million)
FIG. 23 Others market, 2017 to 2030 (USD Million)
FIG. 24 U.S. Memory Care market: End-use movement analysis
FIG. 25 U.S. Memory Care Market end-use outlook: Key takeaways
FIG. 26 Long term care centers market, 2017 to 2030 (USD Million)
FIG. 27 Home care settings market, 2017 to 2030 (USD Million)
FIG. 28 Others market, 2017 to 2030 (USD Million)
Companies Mentioned
- BROOKDALE SENIOR LIVING
- SUNRISE SENIOR LIVING
- LIFE CARE SERVICES
- FIVE STAR SENIOR LIVING
- ATRIA SENIOR LIVING
- ERICKSON LIVING
- KENSINGTON PARK SENIOR LIVING
- MASONICARE
- PROMEDICA HEALTH SYSTEM, INC.
- AZURA MEMORY CARE
- AFFINITY LIVING GROUP
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 70 |
| Published | March 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 5.82 Billion |
| Forecasted Market Value ( USD | $ 8.61 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | United States |
| No. of Companies Mentioned | 11 |
