Global Geriatric Care Services Market, By Services (Home Care Services, Adult Day Care, Institutional Care Services), By Applications (Cardiac Diseases, Respiratory Diseases, Diabetes, Cancer, Neurological Disorders, Kidney Diseases), and Region (North America, Europe, Asia-Pacific, Middle East and Africa, South America) — Market Size and Forecasting (2021–2030)

The Global Geriatric Care Services Market valued at USD XX billion in 2020 and is expected to grow at a CAGR of XX% over the forecast period.

Many people can expect to live between the age of 70 and beyond. The pace of population aging around the globe is also rising continuously. Geriatric services have a vital role in advanced healthcare owing to the wide range of services offered to the elderly population to ease their lives. These services provide end-to-end services to the geriatric population. The growing geriatric population directly contributes to the geriatric care services market. People aged 65 years and above were around 524 million in 2010, and it is expected to reach approximately 1.5 million by 2050, according to the Global Health and Aging report by the World Health Organization. This high rise in the geriatric population subsequently increases the demand for the geriatric care services market.

The presences of favorable government policies, developing infrastructure, and innovative healthcare products are expected to boost the market of geriatric care service market. Geriatric population, rising chronic diseases in aging population and rising awareness of medical care services are also expected to drive the market growth during the forecast period. Geriatric population is more to medical conditions like respiratory, cardiac, orthopedic and neurological disorders, which require prominent healthcare services. This is expected to contribute to market growth. However, high costs associated with the geriatric health services can restrain the market growth. The lack of appropriate care services in the developing nations can also hinder the market growth.

Market Segmentation

The global geriatric care service market is segmented on the basis of product type, service and application.

Global Geriatric Care Services Market, By Services

Based on services, the market is segmented home care services, adult day care, and institutional care services. The home care services segment is projected to witness high growth during the forecast period. The market growth can be attributed to increased demand for home care services among adults and increasing prevalence of chronic diseases is expected to drive the segmental growth. Home care services provide a wide range of benefits including stay at home, special care, and reduced expenditure, which are expected to augment the market growth. However, the availability fewer alternatives can also drive the segment growth.

Global Geriatric Care Services Market, By Applications

Based on application, the market is segmented into cardiac diseases, respiratory, diabetics, cancer and neurological and kidney diseases. The cardiovascular diseases segment is estimated to observe high growth during the forecast period. Increasing cardiovascular disease due to rising hypertensions, blood pressures in geriatric population is expected to lead the market growth.

Global Geriatric Care Services Market, By Region

Based on region, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. North America market is projected to dominate the market during the forecast period. Constant development in the healthcare and insurance policies, developed healthcare infrastructure, rising patient centric care are considered as key factors attributing to dominant position of the U.S.

Europe is considered as one of the emerging market due to rise in geriatric population. Asia-Pacific market is projected to grow at fastest rate as china is considered as large healthcare service provider of Asia-Pacific region. Thereby increasing disposable incomes, increasing healthcare expenditure, increasing home care services and patient centric care impacting the market in positive manner for the rapid growth of geriatric care services market. Favorable government initiatives and increasing awareness among the people about personal care and provision of accessible affordable care services to the geriatric population are projected to rise market penetration rate over the forecast period.

Key Developments

  • In 2018, Genesis Healthcare has joined Alzheimer’s Association’ and provided funding of USD 165,000 to support research programs
  • In March 2019, Revera Innovation Inc. has made an investment in BookJane Inc. in Aging Program. BookJane J360, is a solution for healthcare organizations to improve on their retention and utilization of their end-use

Market Segmentation

By Services

  • Home Care Services
  • Adult Day Care
  • Institutional Care Services

By Applications

  • Cardiac Diseases
  • Respiratory
  • Diabetics
  • Cancer
  • Neurological
  • Kidney Diseases

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • Russia
    • France
    • Italy
    • Spain
    • The Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • The Rest of Asia-Pacific
  • The Middle East and Africa
    • The UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • The Rest of Middle East and Africa
  • South America
    • Brazil
    • Argentina
    • The Rest of South America

Major Companies

The global geriatric care services market has key market players that hold large portion of market share. Genesis Healthcare Corp., Extendicare, Inc. Brookdale Senior living, Revera Inc., are key market players in the geriatric care services market. Similarly, joint venture and new market are helping to make their presence in the geriatric care services market and increase their product portfolio.

Objectives of this Report:

  • To estimate the market size for the geriatric care services market on a regional and global basis
  • To identify major segments in the global geriatric care services market and evaluate their market shares and demand
  • To provide a competitive scenario for the global geriatric care services market with major developments observed by key companies in the historic years
  • To evaluate key factors governing the dynamics of the global geriatric care services market with their potential gravity during the forecast period
  • To evaluate the leading company-wise pricing analysis for the mentioned applications

Customization:

This study is customized to meet your specific requirements:

  • By sub-segment
  • By client-specific country, type, and application market analysis
  • Pricing analysis along with the potential list of customers
  • Product-specific competitive analysis

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