Assisted Living Facility and Neurorehabilitation Global Market Report 2024

The assisted living facility and neurorehabilitation market size has grown strongly in recent years. It will grow from $44.19 billion in 2023 to $47.63 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The increase observed in the historical period can be credited to several factors. These include the growing demands of the geriatric population, the increasing need for neurorehabilitation centers, the rising popularity of continuing-care retirement communities, and the growing number of survivors of traumatic brain injuries (TBI).

The assisted living facility and neurorehabilitation market size is expected to see strong growth in the next few years. It will grow to $64.73 billion in 2028 at a compound annual growth rate (CAGR) of 8%. The expansion anticipated for the forecast period can be attributed to several factors. These include the demand for neurorehabilitation devices, the increasing incidence and prevalence of neurological disorders, rising income levels among the senior population, and the preference for residing in senior housing communities to access better healthcare services. Major trends expected in the forecast period encompass advancements in medicine and technology, the adoption of computer-aided and electronic robotic devices, the rapid uptake of newer treatments, and continuous technological advancements.

The increasing demand for personalized senior care services is set to drive growth in the assisted living facility and neurorehabilitation market. These services cater to the diverse needs of elderly individuals, aiming to support them in their daily lives. Factors contributing to this demand include the rising elderly population, their unique requirements, and the emphasis on high-quality care. By integrating assisted living facilities and neurorehabilitation into personalized senior care services, comprehensive support is ensured, encompassing both daily living assistance and specialized therapeutic interventions tailored to individual neurological needs. For instance, data from the Australian Institute of Health and Welfare in June 2023 indicates a 3.1% increase over five years in the number of individuals aged 65 and over residing in permanent residential aged care, underlining the growing need for personalized senior care services.

Key players in the assisted living facilities and neurorehabilitation market are directing their focus towards technological advancements, such as smart peripheral devices, to gain a competitive advantage. These devices are highly sensitive controllers capable of capturing fine grasp forces and wrist movements required for daily activities. They can detect even sub-newton-level finger and hand forces, facilitating treatment for patients with varying degrees of impairment. For example, MindMaze, a Switzerland-based digital therapeutics company, introduced Izar in February 2023, a groundbreaking smart peripheral device approved by the FDA and CE-marked for patients with impaired hand motor function. Izar addresses a crucial gap in neurological care, aiming to offer the most effective treatment for enhancing hand dexterity and strength across conditions such as stroke, Parkinson's disease, Alzheimer's disease, and traumatic brain injury.

In June 2021, BrightSpring Health Services, a US-based provider of home and community-based health services, completed the acquisition of Pate Rehabilitation Endeavors Inc., a company specializing in rehabilitation for acquired brain injuries, although the financial details were undisclosed. This acquisition strengthens BrightSpring's neurorehabilitation services, enhancing its ability to offer a comprehensive continuum of post-acute neuro rehab, particularly in the Dallas-Fort Worth Metroplex and beyond.

Major companies operating in the assisted living facility and neurorehabilitation market are Community Health Systems Inc., Sevita Health, Encompass Health Corporation, Kindred Healthcare LLC, Brookdale Senior Living, Atria Senior Living Inc., SCA Health, Belmont VillAge L.P., Aegis Living, Craig Hospital, NeuroRestorative, Centre For Neuro Skills, Bioness Inc., Texas NeuroRehab Center, Catholic Eldercare, Moody Neurorehabilitation Institute, ResCare Inc., Sukino Healthcare Solutions Pvt. Ltd., TeamHealth, Mary Lee Foundation, Sanctus Rehabilitation Care Foundation.

North America was the largest region in the assisted living facility and neurorehabilitation market in 2023. Asia-Pacific is expected to be the fastest growing region in the market. The regions covered in the assisted living facility and neurorehabilitation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the assisted living facility and neurorehabilitation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

An assisted living facility delivers residential care and supportive services for individuals requiring assistance with daily activities but not intensive medical attention. Neurorehabilitation is a specialized therapeutic approach aimed at enhancing the function and quality of life of individuals with neurological disorders or injuries. Together, these services create a comprehensive care environment where residents receive both daily living support and specialized neurological rehabilitation.

The primary types of assisted living facilities and neurorehabilitation cater to both women and men. Assisted living facilities designed specifically for women may offer tailored services and amenities to address their distinct needs and preferences, fostering a supportive environment for aging individuals or those with specific health concerns. These facilities serve various age groups, including those under 65, aged 65-74, 75-84, and over 85, with applications primarily in hospitals, clinics, personal care, and other related settings.

The assisted living facilities and neurorehabilitation market research report is one of a series of new reports that provides assisted living facilities and neurorehabilitation market statistics, including assisted living facilities and neurorehabilitation industry global market size, regional shares, competitors with a assisted living facilities and neurorehabilitation market share, detailed assisted living facilities and neurorehabilitation market segments, market trends and opportunities, and any further data you may need to thrive in the assisted living facilities and neurorehabilitation industry. This assisted living facilities and neurorehabilitation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The assisted living facility and neurorehabilitation market includes revenues earned by entities by providing services such as physical therapy, occupational therapy, speech therapy, cognitive therapy, and psychological support. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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