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U.S. Memory Care Market Trends

Report ID: GMI10459
Published Date: Jul 2024
Report Format: PDF

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U.S. Memory Care Market Trends

The market is experiencing several notable trends that are shaping its growth and development. Factors such as increased demand for specialized care facilities, growing focus on holistic and non-pharmacological therapies, rise of memory care in assisted living communities, and expansion of home-based memory care services, among other factors are propelling the industry growth.

Further, there is growing focus on holistic and non-pharmacological therapies in memory care. Techniques such as music therapy, art therapy, pet therapy, and reminiscence therapy are being used to improve residents emotional well-being and cognitive function. These therapies offer meaningful engagement and can reduce the reliance on medications for managing symptoms.
Moreover, home-based memory care services are expanding as more families prefer to care for their loved ones in familiar surroundings. These services provide professional care and support to individuals with dementia in their own homes, offering a flexible and personalized alternative to residential care facilities. This trend is supported by advancements in home healthcare technology and increased availability of in-home caregiving resources, thereby driving the demand for memory care.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

U.S. memory care industry size was worth USD 6.3 billion in 2023 and will grow at 5.6% CAGR between 2024 and 2032 due to aging population, rising prevalence of Alzheimer's and other dementias and increased awareness of memory disorders.

The long term care centers segment will record USD 5.5 billion by 2032, driven by comprehensive and specialized services tailored for individuals with dementia and Alzheimer’s disease.

South Atlantic memory care industry will witness 5.3% CAGR through 2032, attributed to the region's well-established healthcare infrastructure, increasing investments in specialized memory care facilities, and supportive state policies.

Prominent players operating in the U.S. memory care industry are Affinity Living Communities, Atria Senior Living, Inc., Azura Memory Car, Brookdale Senior Living Inc., Covenant Living, Erickson Senior Living, Five Star Senior Living, Genesis HealthCare, KENSINGTON PARK SENIOR LIVING, Life Care Systems, among others.