Senior living market 2023-2027; A descriptive analysis of the five forces model, market dynamics, and segmentation - Technavio

Rhea-AI Summary

According to Technavio, the global senior living market is projected to grow by USD 91.37 billion from 2023 to 2027, with an estimated CAGR of 5.65%. North America held the largest share in 2022 and is expected to contribute 39% to this growth. The aging baby boomer population and increasing demand for nursing care are major drivers. Technological advancements in mobile applications and smart home solutions are also influencing this market positively. However, challenges include low retirement savings among baby boomers, impacting investment in senior living facilities.

Positive

• Projected market growth of USD 91.37 billion from 2023-2027.
• Estimated CAGR of 5.65% during the forecast period.
• North America contributed 39% to the market in 2022.

Negative

• Low life savings among baby boomers hinder market growth potential.

NEW YORK, Jan. 17, 2023 /PRNewswire/ -- According to Technavio, the global senior living market size is estimated to grow by USD 91.37 billion from 2023 to 2027. The market is estimated to grow at a CAGR of 5.65% during the forecast period. However, the growth momentum will be progressing. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 39%. For more Insights on market size, Request a sample report

Senior living market - Five Forces

The global cloud data warehouse market is fragmented, and the five forces analysis covers– 

• Bargaining Power of Buyers 
• The threat of New Entrants
• Threat of Rivalry
• Bargaining Power of Suppliers
• Threat of Substitutes
• Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!

Senior living market – Customer Landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Senior living market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on age group (85 or older, 75 to 84, 65 to 74, and 60 to 64), service (assisted living, independent living, and CCRC), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The market share growth by the 85 years or older segment will be significant during the forecast period. People aged 85 years and above need more services due to aging, common diseases, as well as cognitive, psychiatric, and social changes. Also, their visual acuity and hearing ability deteriorate more quickly. This makes assistive living or senior living facilities more necessary for people aged 85 years and older, which is driving the growth of the segment.

Geography Overview
By geography, the global senior living market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global senior living market.

• North America is estimated to contribute 39% to the growth of the global market during the forecast period. The presence of a large baby boomer population and the expanding aging population are driving the growth of the senior living market in North America.

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Senior living market – Market Dynamics

Key factor driving market growth

• The market is driven by the aging baby boomer population.
• The number of people aged 65 years and above is increasing across the world.
• The obesity rate among the aged population is also on the rise, which is increasing the risk of disability and chronic diseases, such as hypertension and diabetes.
• This is increasing the demand for nursing care to ensure comfortable and healthy living, which is driving the growth of the global senior living market.

Leading trends influencing the market 

• Technological advances are identified as one of the major trends in the market.
• The market is observing an increase in the demand for assisted services, such as mobile applications, wearables, trackers, communication devices, and smart alarms.
• Caregivers and nurses are using these technologies to track, record, and observe patients and communicate with doctors and other healthcare professionals.
• In addition, the proliferation of smart homes in developed countries is increasing the adoption of mHealth and mobile-based healthcare applications that can generate patient-related data, such as weight, diet, exercise, blood pressure (BP), blood sugar, and other parameters.
• This trend is expected to positively influence the growth of the global senior living market during the forecast period.

Major challenges hindering the market growth

• Low life savings by baby boomers is identified as one of the key challenges in the market.
• The number of retired baby boomers is increasing and most of them do not have sufficient retirement funds.
• Also, many individuals who fall in the age group of 50-70 years do not have a proper retirement plan, which has hindered investments in retirement communities.
• These factors are reducing the growth potential in the market.

Driver, Trend, and Challenges are the factor of market dynamics that state about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this senior living market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the senior living market between 2023 and 2027
• Precise estimation of the size of the senior living market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the senior living market industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of senior living market vendors

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Senior Living Market Scope

Report Coverage	Details
Page number	152
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 5.65%
Market growth 2023-2027	USD 91.37 billion
Market structure	Fragmented
YoY growth 2022-2023 (%)	5.13
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 39%
Key countries	US, Canada, China, France, and Germany
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	AbsoluteCare Inc., Affinity Living Communities, Antara Assisted Service Ltd., Brookdale Senior Living Inc., Covenant Living Communities and Services, Enterprise Retirement Living Ltd., Erickson Senior Living Management LLC, Extendicare Canada Inc., Genesis Healthcare Inc., Golden Heights Personal Care Home, Grand world Elder Care, HC One Ltd., Lendlease Corp., Life Care Centers of America Inc., Merrill Gardens, ProMedica Health System Inc., Senior Lifestyle, Sunrise Senior Living LLC, Utsav Care Homes, and Wickshire Senior Living
Market dynamics	Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Age Group
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Service
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global senior living market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global senior living market 2017 - 2021 ($ billion)

• 4.2 Service Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Service Segment 2017 - 2021 ($ billion)

• 4.3 Age group Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Age group Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Age Group

• 6.1 Market segments 
• Exhibit 30: Chart on Age Group - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Age Group - Market share 2022-2027 (%)

• 6.2 Comparison by Age Group 
• Exhibit 32: Chart on Comparison by Age Group
• Exhibit 33: Data Table on Comparison by Age Group

• 6.3 85 or older - Market size and forecast 2022-2027
• Exhibit 34: Chart on 85 or older - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on 85 or older - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on 85 or older - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on 85 or older - Year-over-year growth 2022-2027 (%)

• 6.4 75 to 84 - Market size and forecast 2022-2027
• Exhibit 38: Chart on 75 to 84 - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on 75 to 84 - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on 75 to 84 - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on 75 to 84 - Year-over-year growth 2022-2027 (%)

• 6.5 65 to 74 - Market size and forecast 2022-2027
• Exhibit 42: Chart on 65 to 74 - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on 65 to 74 - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on 65 to 74 - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on 65 to 74 - Year-over-year growth 2022-2027 (%)

• 6.6 60 to 64 - Market size and forecast 2022-2027
• Exhibit 46: Chart on 60 to 64 - Market size and forecast 2022-2027 ($ billion)
• Exhibit 47: Data Table on 60 to 64 - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Chart on 60 to 64 - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on 60 to 64 - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Age Group 
• Exhibit 50: Market opportunity by Age Group ($ billion)

7 Market Segmentation by Service

• 7.1 Market segments 
• Exhibit 51: Chart on Service - Market share 2022-2027 (%)
• Exhibit 52: Data Table on Service - Market share 2022-2027 (%)

• 7.2 Comparison by Service 
• Exhibit 53: Chart on Comparison by Service
• Exhibit 54: Data Table on Comparison by Service

• 7.3 Assisted living - Market size and forecast 2022-2027
• Exhibit 55: Chart on Assisted living - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Assisted living - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Assisted living - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Assisted living - Year-over-year growth 2022-2027 (%)

• 7.4 Independent living - Market size and forecast 2022-2027
• Exhibit 59: Chart on Independent living - Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Data Table on Independent living - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Chart on Independent living - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Independent living - Year-over-year growth 2022-2027 (%)

• 7.5 CCRC - Market size and forecast 2022-2027
• Exhibit 63: Chart on CCRC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 64: Data Table on CCRC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Chart on CCRC - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on CCRC - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Service 
• Exhibit 67: Market opportunity by Service ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 69: Chart on Market share by geography 2022-2027 (%)
• Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 71: Chart on Geographic comparison
• Exhibit 72: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 81: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Canada - Market size and forecast 2022-2027
• Exhibit 101: Chart on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 105: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 106: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 107: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 France - Market size and forecast 2022-2027
• Exhibit 109: Chart on France - Market size and forecast 2022-2027 ($ billion)
• Exhibit 110: Data Table on France - Market size and forecast 2022-2027 ($ billion)
• Exhibit 111: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 113: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 114: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 115: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 116: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 117: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 118: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 119: Matrix on vendor position and classification

• 12.3 Affinity Living Communities 
• Exhibit 120: Affinity Living Communities - Overview
• Exhibit 121: Affinity Living Communities - Product / Service
• Exhibit 122: Affinity Living Communities - Key offerings

• 12.4 Brookdale Senior Living Inc. 
• Exhibit 123: Brookdale Senior Living Inc. - Overview
• Exhibit 124: Brookdale Senior Living Inc. - Business segments
• Exhibit 125: Brookdale Senior Living Inc. - Key offerings
• Exhibit 126: Brookdale Senior Living Inc. - Segment focus

• 12.5 Covenant Living Communities and Services
• Exhibit 127: Covenant Living Communities and Services - Overview
• Exhibit 128: Covenant Living Communities and Services - Product / Service
• Exhibit 129: Covenant Living Communities and Services - Key offerings

• 12.6 Enterprise Retirement Living Ltd. 
• Exhibit 130: Enterprise Retirement Living Ltd. - Overview
• Exhibit 131: Enterprise Retirement Living Ltd. - Product / Service
• Exhibit 132: Enterprise Retirement Living Ltd. - Key offerings

• 12.7 Erickson Senior Living Management LLC 
• Exhibit 133: Erickson Senior Living Management LLC - Overview
• Exhibit 134: Erickson Senior Living Management LLC - Product / Service
• Exhibit 135: Erickson Senior Living Management LLC - Key offerings

• 12.8 Extendicare Canada Inc. 
• Exhibit 136: Extendicare Canada Inc. - Overview
• Exhibit 137: Extendicare Canada Inc. - Business segments
• Exhibit 138: Extendicare Canada Inc. - Key offerings
• Exhibit 139: Extendicare Canada Inc. - Segment focus

• 12.9 Genesis Healthcare Inc. 
• Exhibit 140: Genesis Healthcare Inc. - Overview
• Exhibit 141: Genesis Healthcare Inc. - Business segments
• Exhibit 142: Genesis Healthcare Inc. - Key news
• Exhibit 143: Genesis Healthcare Inc. - Key offerings
• Exhibit 144: Genesis Healthcare Inc. - Segment focus

• 12.10 HC One Ltd. 
• Exhibit 145: HC One Ltd. - Overview
• Exhibit 146: HC One Ltd. - Product / Service
• Exhibit 147: HC One Ltd. - Key offerings

• 12.11 Lendlease Corp. 
• Exhibit 148: Lendlease Corp. - Overview
• Exhibit 149: Lendlease Corp. - Business segments
• Exhibit 150: Lendlease Corp. - Key offerings
• Exhibit 151: Lendlease Corp. - Segment focus

• 12.12 Life Care Centers of America Inc. 
• Exhibit 152: Life Care Centers of America Inc. - Overview
• Exhibit 153: Life Care Centers of America Inc. - Product / Service
• Exhibit 154: Life Care Centers of America Inc. - Key offerings

• 12.13 ProMedica Health System Inc. 
• Exhibit 155: ProMedica Health System Inc. - Overview
• Exhibit 156: ProMedica Health System Inc. - Product / Service
• Exhibit 157: ProMedica Health System Inc. - Key offerings

• 12.14 Senior Lifestyle 
• Exhibit 158: Senior Lifestyle - Overview
• Exhibit 159: Senior Lifestyle - Product / Service
• Exhibit 160: Senior Lifestyle - Key offerings

• 12.15 Sunrise Senior Living LLC 
• Exhibit 161: Sunrise Senior Living LLC - Overview
• Exhibit 162: Sunrise Senior Living LLC - Product / Service
• Exhibit 163: Sunrise Senior Living LLC - Key news
• Exhibit 164: Sunrise Senior Living LLC - Key offerings

• 12.16 Utsav Care Homes 
• Exhibit 165: Utsav Care Homes - Overview
• Exhibit 166: Utsav Care Homes - Product / Service
• Exhibit 167: Utsav Care Homes - Key offerings

• 12.17 Wickshire Senior Living 
• Exhibit 168: Wickshire Senior Living - Overview
• Exhibit 169: Wickshire Senior Living - Product / Service
• Exhibit 170: Wickshire Senior Living - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 171: Inclusions checklist
• Exhibit 172: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 173: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 174: Research methodology
• Exhibit 175: Validation techniques employed for market sizing
• Exhibit 176: Information sources

• 13.5 List of abbreviations 
• Exhibit 177: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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FAQ

What is the expected growth of the global senior living market?

The global senior living market is expected to grow by USD 91.37 billion from 2023 to 2027.

What is the estimated CAGR for the senior living market?

The estimated CAGR for the senior living market during the forecast period is 5.65%.

Which region is expected to contribute the most to the senior living market growth?

North America is expected to contribute 39% to the market growth.

What are the main drivers of growth in the senior living market?

The aging baby boomer population and increasing demand for nursing care are the main drivers.

What challenges does the senior living market face?

A key challenge is the low retirement savings among baby boomers, affecting investments in senior living facilities.