LONDON, April 04, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the retirement communities market highlights the use of electronic health records (EHR) by nursing care facilities in retirement communities to store medical information and streamline contact with residents. EHRs are real-time, patient-centered records that make information available to authorised users instantly and securely. EHRs have many advantages, including providing accurate, up-to-date, and complete information about patients, providing quick access to patient records, securely sharing information with patients and other clinicians, and lowering costs through reduced paperwork. Epic Systems, Praxis EMR, Cerner, GE Healthcare, and Meditech are some of the major providers of EHR software.
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The retirement communities market size is expected to grow to $285.1 billion in 2025 at a CAGR of more than 8%. The retirement communities market is then expected to grow at a CAGR of more than 5% from 2025 and reach $374.7 billion in 2030.
The ageing population will remain a driving force in the retirement community industry. The world's elderly population is rapidly growing, and this trend is expected to continue over the forecast period. The population of people aged 65 and up in the United States is expected to reach 70 million by 2030. lxxxii The proportion of senior citizens in Japan is expected to reach 40% by 2050lxxxiii. The ageing population increases the likelihood that elderly people will choose to live in retirement communities.
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Major players in the retirement communities market are brookdale senior living inc., sunrise senior living, atria senior living group, life care centers of america, erickson living.
Western Europe was the largest region in the retirement communities market, accounting for 42.4% of the total in 2020. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the retirement communities market will be Asia Pacific, and, Africa where growth will be at CAGRs of 11.2% and 10.5% respectively. These will be followed by Middle East, and Western Europe, where the markets are expected to grow at CAGRs of 8.4% and 8.3% respectively.
The global retirement communities market analysis is segmented by community type into continuing care retirement communities; rest homes; assisted living facilities; assisted living facilities with nursing care.
Retirement Communities Global Market Report 2023 by The Business Research Company provides insights on the retirement communities market size, retirement communities market segments, retirement communities market trends, retirement communities market opportunities, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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