Global Geriatric Care Services Market Overview:

According to the latest report by IMARC Group, titled “Geriatric Care Services Market Outlook: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global geriatric care services market reached a value of US$ 997.3 Billion in 2021. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 1582.5 Billion by 2027, growing at a CAGR of 7.70% during 2022-2027.

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Geriatric care services refer to medical facilities providing health and wellness services for the elderly. Nutritional services, home care, medications, socialization programs and non-medical services, such as homemaking, personal care, meals and grocery are some of the commonly offered services. These services are widely used for patients suffering from neurological diseases, diabetes, cancer, respiratory, heart and kidney diseases. Geriatric care services aim to monitor health regularly, offer support, detect severe conditions at an early stage, address emotional concerns, provide nutritious meals, and prevent deterioration of an existing health problem.

Global Geriatric Care Services Market Trends:

The rapidly increasing geriatric population across the globe is creating a positive outlook for the market. Geriatric care services are widely used for improving, treating and preventing diseases, such as Alzheimer’s and dementia, that are more prevalent in the elderly population.

In line with this, the rising prevalence of chronic health conditions, such as high blood pressure, diabetes, orthopedic disorder, respiratory issue, cancer and cardiovascular diseases (CVDs), is favoring the market growth. Furthermore, the introduction of various advanced technologies, such as robotics and the Internet of Things (IoT) in geriatric care services for performing tasks, automating workflows and reducing errors are providing an impetus to the market growth.

Additionally, the ongoing improvements related to geriatric care services, such as the availability of skilled care workers, transparency along the process, remote patient management, and the provision of home care services with improved convenience and cost-effectiveness are positively impacting the market growth.

Other factors, including the rising expenditure of consumers, significant improvements in healthcare infrastructure, and the implementation of various government initiatives to provide easily accessible and affordable social care services to the elderly population, are anticipated to drive the market further toward growth.

Key Players Included in Global Geriatric Care Services Market Research Report:

Amedisys Inc.
Brookdale Senior Living Inc.
Econ Healthcare Group
Extendicare Inc.
Genesis HealthCare
Home Instead Inc. (Honor Technology Inc.)
Kindred Healthcare
Portea Medical
Revera Inc.
Rosewood Care Group Inc.
Sunrise Senior Living LLC.

Key Market Segmentation:

Breakup by Services:

Home Care
Adult Day Care
Institutional Care

Breakup by Payment Source:

Public Insurance
Private Insurance
Out-of-pocket
Others

Breakup by Application:

Respiratory Diseases
Diabetes
Heart Diseases
Neurological Diseases
Kidney Diseases
Cancer
Others

Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

TOC for the Geriatric Care Services Market Research Report:

Preface
Scope and Methodology
Executive Summary
Introduction
Geriatric Care Services Market
SWOT Analysis
Value Chain Analysis
Price Analysis
Competitive Landscape

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