Welcome home: The rising population of senior citizens in Minnesota will drive revenue growth

The Retirement Communities industry in Minnesota comprises establishments that provide residential and personal care services for the elderly and other individuals who are unable to fully care for themselves or who desire to live in a community facility. The industry excludes companies that predominantly provide inpatient nursing, skilled nursing or rehabilitative services. Over the five years to 2018, revenue for the Retirement Communities industry in Minnesota is estimated to grow an annualized 4.9% to $1.9 billion. In 2018 alone, revenue is expected to grow 3.6%. Growth for the industry is primarily a result of the state's growing senior population.

During the five-year period, the number of adults aged 65 and older is estimated to increase at an annualized rate of 3.2%.

Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 13-18
4.9%
Forecast Growth 18-23
Profit
Employment
34,594
Businesses
1,399

Industry Threats & Opportunities

  • Growth for the industry is primarily a result of the state’s growing senior population

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    Additional Insights for the Retirement Communities in Minnesota Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Retirement Communities in Minnesota Industry are

  • Superior financial management and debt management
  • Being familiar with local tastes and preferences
  • Ability to attract local support/patronage
  • IBISWorld analysts also discuss how external factors such as Number of adults aged 65 and older in Minnesota and Per capita disposable income in Minnesota in the Retirement Communities in Minnesota industry impact industry performance..

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    What's in this report

    What is the Retirement Communities in Minnesota Industry?

    This industry provides residential and personal care services for the elderly and other individuals who are unable to fully care for themselves or who desire to live in a community facility. The industry excludes companies that predominantly provide inpatient nursing, skilled-nursing or rehabilitative services.

    Industry Products
  • Continuing care retirement communities
  • Assisted living facilities
  • Other programs and services
  • Industry Activities
  • Providing room and board
  • Nursing and other supervision
  • Assistance in daily living
  • Housekeeping services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of adults aged 65 and older in Minnesota
  • Per capita disposable income in Minnesota
  • Federal funding for Medicare and Medicaid
  • Home price index in Minnesota

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Retirement Communities in Minnesota Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Primary Care Doctors
  • Specialist Doctors
  • Hospitals
  • Nursing Care Facilities
  • Consumers

  • Key Selling Industries
  • Apartment & Condominium Construction
  • Community Food Services
  • Dry Cleaners
  • Home Care Providers
  • Janitorial Services
  • Public Administration
  • Real Estate Investment Trusts

  • Products & Services
  • Assisted living facilities
  • Continuing care retirement communities
  • Other programs and services
  • Chart: Retirement Communities in Minnesota Industry Products and Services Segmentation

  • Major Markets
  • Females with incomes greater than $20,000
  • Males with incomes greater than $20,000
  • Females with incomes less than $20,000
  • Males with incomes less than $20,000
  • Chart: Major Market Segmentation for the Retirement Communities in Minnesota Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Retirement Communities in Minnesota

  • Basis of Competition
    Barriers to Entry
    Brookdale Senior Living Solutions, New Perspective Senior Living, Sunrise Senior Living, Walker Methodist,
  • Table: Brookdale Senior Living Solutions - financial performance
  • Table: New Perspective Senior Living - financial performance
  • Table: Sunrise Senior Living - financial performance
  • Table: Walker Methodist - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Retirement Communities in Minnesota Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Retirement Communities in Minnesota Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Number of adults aged 65 and older (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Activities Of Daily Living (Adl)
  • Everyday activities such as bathing, grooming, eating, using the toilet and getting dressed.
  • Care For Alzheimer's Disease And Dementia
  • Care provided to individuals with memory impairment; can include medical and social assistance with activities of daily living.
  • Continuing Care Retirement Community (Ccrc)
  • A facility that provides individuals with a choice of services and living situations for the remainder of their lives.
  • Hospice Care
  • Care and comfort measures provided to those with a terminal illness and their families; can include medical, counseling and social services.
  • Nursing Home
  • A facility licensed by the state that provides 24-hour nursing care, room and board and activities for convalescent residents and those with chronic and/or long-term illnesses.
  • What Our Customers Say

    Why buy this report?

    The Retirement Communities in Minnesota industry market report contains data and analysis of the most influential current and future trends shaping the industry. IBISWorld’s in-depth industry market research is presented in a logical, user-friendly format, and provides growth and profit forecasts for a five-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Retirement Communities in Minnesota:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Retirement Communities in Minnesota market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Retirement Communities in Minnesota, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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