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Memory Care — An In-Depth Analysis of the Sector’s Standing and Dynamics
According to estimates derived from an analysis released by NIC Analytics in 2022, approximately 1 in 9 Americans age 65 and older, totaling 6.5 million individuals, is affected by Alzheimer’s or other dementias. The analysis further indicated that the prevalence of Alzheimer’s or other dementias increased with age, with higher ratios observed in older age cohorts. By projecting the findings to 2030, NIC Analytics estimated that around 8.2 million Americans will be living with Alzheimer’s or other forms of dementia just seven years from now. These estimates highlight the importance of providing tailored and innovative care and support to meet the growing demand for specialized memory care services.
In this article, Memory Care — An In-Depth Analysis of the Sector’s Standing and Dynamics, Omar Zahraoui, Principal, Research and Analytics, NIC, explores the memory care sector — a senior housing segment that is specifically designed for residents with Alzheimer’s or other forms of dementia — in terms of its market fundamentals within the combined 99 NIC MAP® Primary and Secondary Markets. The article provides an overview of supply-and-demand dynamics and occupancy rates across properties and different types of campuses compared with the broader senior housing property segment types (i.e., independent living and assisted living segments).
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