Increased life expectancy in the U.S. and its effect on assisted living

April 21, 2011 by , filed under: Assisted Living 

In the year 1900 the life expectancy in the United States was 47 years. This number has certainly gone up in the past few decades due to advancement in medical technology.

The average life expectancy of the Americans is now 78.2 years, so the market for long term care facilities looks to be a blossoming one according to Kaloroma.

The research farm has reported that the estimated long term care facilities market was worth as much as $258 billion in 2010. The average life expectancy for men in the U.S. is 76 years and for women that figure can cross 80 years. That has led to speculation that this increase in life expectancy will have a long term effect in the care market including the assisted living, nursing home and home care facilities. According to Kaloroma, assisted living and home care have experienced the highest growth in their history and they expect it to continue in the same fashion for the next 5 years with an annual growth rate of 5-6%.

Overall, if we are to believe the statistics presented in the Kaloroma report, one can easily guess the bright future of the care industry in the United States.

 

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A Quote about Aging

"Though it sounds absurd, it is true to say I felt younger at sixty than I felt at twenty." - Ellen Glasgow

Stats about Seniors

senior living chart

Source:aoa.gov

Seniors graph

Source:Washington University


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