Senior Living Communities is Constantly Responding to Present Economic Downturns and other Contemporary Demands, According to New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global outlook on the Adult and Retirement Communities Industry. Baby boomers prefer variety and creative homes that are far from being tagged as conventional. Senior living communities is a new concept, which is constantly responding to present economic downturns and other contemporary demands. Demographic changes, increasing life expectancy, escalating cost of providing care, and increasing number of older adults opting for professional care, are expected to drive the market for adult and retirement communities in the recent years.
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Adult and Retirement Communities: A Global Outlook
San Jose, California (PRWEB) January 16, 2012
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– Developers in the senior living industry have increased the number of
options to retirees, and are offering residences that suit their
particular lifestyle. Residences with urban living options are being
built for those retirees who continue to work part-time in towns, or to
those who want to stay away from age-qualified atmosphere and enjoy
living with younger people. Senior housing surrounding universities and
college campuses are also becoming popular in the recent times. Wellness
offerings and implementation of eco-friendly standards through
renovation or new construction are also expected to exhibit growth in
the coming years. Further, marketing strategies are being formulated
based on trends governing senior living communities. With health and
wellness programs and services gaining supreme priority among senior
adults, the number of senior living communities
that provide wellness programs is expected to double in the near
future. The evolving needs call for an innovative model that provides
customized services and flexible financing options to suit an
individual’s needs and expectations, in addition to providing
convenience and choices.
Demand for customized services and programs is likely to drive the
development of programs, such as memory care, hospice programs,
restorative or and rehabilitation services. The focus of resident
programs that are engaging and aid in intellectual stimulation of an
individual are expected to gain increased focus. For individuals with
physical disabilities or chronic conditions that do not require much
intensive care, the assisted living facilities
continue to be a popular residential choice for retirement owing to a
number of factors. These include the need for independence, and the
availability of financial resources for senior citizens through
pensions, savings, Long-term Care insurance, and other assets, which
enable affordable quality care in senior care facilities.
The US, which is the oldest market for senior housing communities,
senior housing projects witnessed a slowdown as a result of the plunge
in housing sector, with the Retirement Communities for independent
living and continuing care being one of the most affected sectors. The
plunge resulted in senior citizens delaying plans of moving into these retirement communities.
With businesses in almost all sectors in the US trying hard to keep
going in 2010, the assisted living sector however remained comparatively
stable even during the troubled times. However, economic conditions
prevailing during recession affected the assisted living housing market
segment in the US, and several companies providing the services
defaulted in debt repayments and cut operations or costs. Signs of
stabilization started surfacing during the 2009 second quarter. The
impact of recession on retirement communities for independent living was
comparatively higher than on assisted living and memory care
facilities, as the latter are based on an individual’s need for proper
attention and care. In future, these sectors are likely to drive more
growth owing to their need-based nature.
The report titled “Adult and Retirement Communities: A Global
Outlook” announced by Global Industry Analysts Inc., provides a
collection of statistical anecdotes, market briefs, and concise
summaries of research findings. The report offers a rudimentary overview
of the industry, highlights latest trends and demand drivers, in
addition to providing statistical insights. Regional markets briefly
abstracted and covered include North America, United States, Canada,
Japan, Europe (including Finland, Monaco, and UK), Asia-Pacific
(including Australia, China, India, Indonesia, Korea, Singapore, and
Taiwan), Latin America (including Mexico), and Africa (including
Morocco). The report offers a compilation of recent mergers,
acquisitions, and strategic corporate developments. Also included is an
indexed, easy-to-refer, fact-finder directory listing the addresses, and
contact details of companies worldwide.
For more details about this comprehensive industry report, please visit –
http://www.strategyr.com/Adult_and_Retirement_Communities_Industry_Market_Report.asp
http://www.strategyr.com/Adult_and_Retirement_Communities_Industry_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/
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