Market Size of Canada Senior Living Industry Analysis
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Canada Senior Living Market Analysis
Canada's senior living market is expected to register a CAGR of approximately 5% during the forecast period.
- The population of seniors aged 75 years and older in Canada is expected to grow by 111.2% between 2014 and 2034, while the total population of Canada is only expected to increase by 19.1% over the same period. This trend has captured the attention of investors and real estate developers, resulting in increased capital flows and construction in the senior housing and long-term care sector in Canada.
- Senior living facilities were significantly impacted by the COVID-19 pandemic in Canada. During the first wave of the pandemic (March through August 2020), residents of nursing and senior homes accounted for more than 80% of all reported COVID-19 deaths.
- As of early March 2021, reports indicated that nursing and senior homes accounted for the greatest proportion of outbreak-related cases and deaths, representing about 7% of all cases and more than 50% of all deaths. Residential care facilities are potentially at higher risk of infection, given the unavoidable close contact between staff and residents.
- The demand for senior housing has increased during the COVID-19 pandemic, and it is expected to increase in the coming years, driven by a focus on health and well-being as well as a rapidly aging population.
Canada Senior Living Industry Segmentation
Senior living is a concept that refers to a variety of housing and lifestyle options for senior citizens that are adapted to the challenges of aging, such as limited mobility and susceptibility to illness. The Canada Senior Living Market is Segmented by Province (Alberta, Nova Scotia, Quebec, British Columbia, Ontario, and the Rest of Canada). The report also covers the impact of COVID-19 on the market. The report offers the market size in value terms in USD for all the abovementioned segments.
| By Province | |
| Alberta | |
| Nova Scotia | |
| Quebec | |
| British Columbia | |
| Ontario | |
| Rest of Canada |
Canada Senior Living Market Analysis Size Summary
The Canadian senior living market is poised for significant growth, driven by a rapidly aging population and increasing demand for senior housing. The sector has attracted substantial investment interest, with real estate developers and investors focusing on the senior housing and long-term care segments. Despite the challenges posed by the COVID-19 pandemic, which highlighted vulnerabilities in residential care facilities, the market has seen a surge in investment activity. Major players in the industry, such as Chartwell Master Care LP, Sienna Senior Living, and Atria Senior Living, are actively expanding their portfolios, indicating a robust market outlook. The pandemic has also shifted the focus towards health and well-being, further fueling demand for senior living solutions.
The market landscape in Canada is characterized by a fragmented structure, with numerous local and small developers competing alongside a few branded entities. This competition has led to increased transaction activity, with significant deals and partnerships shaping the market dynamics. For instance, Optima Living's acquisition of multiple supportive-living homes and the strategic merger of Enquire, Glennis, and Sherpa to enhance software solutions for senior living providers are notable developments. These activities underscore the sector's resilience and potential for continued expansion, as companies adapt to evolving consumer needs and leverage technological advancements to improve service delivery.
Canada Senior Living Market Analysis Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Spotlight on Demographics for Senior Living Population
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1.3 Spotlight on Different Types of Senior Living Facilities
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1.4 Key Factors to Consider for Senior Living Facility
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1.5 Government Initiatives and Policies
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1.6 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION (Market Size by Value)
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2.1 By Province
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2.1.1 Alberta
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2.1.2 Nova Scotia
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2.1.3 Quebec
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2.1.4 British Columbia
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2.1.5 Ontario
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2.1.6 Rest of Canada
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Canada Senior Living Market Analysis Market Size FAQs
What is the current Canada Senior Living Market size?
The Canada Senior Living Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Canada Senior Living Market?
Chartwell Master Care LP, Sienna Senior Living, Atria Senior Living, Sunrise Senior Living, LLC and All Seniors Care Living Centers are the major companies operating in the Canada Senior Living Market.
