If there is one theme throughout some of the top senior living trends and the resulting challenges and opportunities, it is that America is aging rapidly and preparing for new generations to come into the market. Specifically, recent reports project that the number of Americans aged 65 and older will double from 40.2 million to 88.5 million in the next 35 years. This growth is creating a huge need for new and additional aging services.
Here are the top 10 trends in senior living today:
More boomers are coming, and experts believe that we are not prepared.
Seniors wish to remain at home as long as possible.
Aging services customers want more services and amenities.
The “great recession” has decreased consumer savings.
The focus is on prevention, coordination of care and outcomes.
The number of Americans with dementia and Alzheimer’s will escalate rapidly in coming years.
There is a shortage of doctors and nurses.
Emergence of technology that can provide more methods and means of care.
Rise of small homes, villages and care at home.
Elder care entities providing multiple services.
Sources: LeadingAge™ Market Report, 8-2013