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Canada Senior Living Market Analysis Market Size (2024 - 2029)

The market size of Canada's senior living sector is poised for growth, driven by a significant increase in the senior population, particularly those aged 75 and older. This demographic shift has attracted investment and development in senior housing and long-term care facilities. The COVID-19 pandemic has further underscored the demand for such accommodations, as they were heavily impacted by the virus, highlighting the need for enhanced health and well-being measures. As a result, the market is expected to expand, reflecting the growing need for senior living solutions in Canada.

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Market Size of Canada Senior Living Industry Analysis

Canada Senior Living Market Analysis Summary
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

Canada Senior Living Market Analysis Major Players

*Disclaimer: Major Players sorted in no particular order

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
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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.

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Canada Senior Living Market Analysis Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Spotlight on Demographics for Senior Living Population

    3. 1.3 Spotlight on Different Types of Senior Living Facilities

    4. 1.4 Key Factors to Consider for Senior Living Facility

    5. 1.5 Government Initiatives and Policies

    6. 1.6 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION (Market Size by Value)

    1. 2.1 By Province

      1. 2.1.1 Alberta

      2. 2.1.2 Nova Scotia

      3. 2.1.3 Quebec

      4. 2.1.4 British Columbia

      5. 2.1.5 Ontario

      6. 2.1.6 Rest of Canada

Canada Senior Living Market Analysis Market Size FAQs

The Canada Senior Living Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

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.

Senior Living Market In Canada Report Snapshots

Canada Senior Living Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)