Global Geriatric Care ServicesMarket
The global geriatric care services market is estimated to be worth over USD1,920.15 Bnin 2033 and is expected to grow at CAGR of 6.0% during the forecast period (2024-2033).
The global geriatric care services market is evolvingat a swift pace, fuelled by the notable rise in the aging population and greater government support. As life expectancies prolongs and birth rates decreases, the proportion of older adults is soaring, requiring a higher focus on healthcare services customized to their unique needs. Governments across the globe are identifying the prominence of supporting their aging populations through higher funding, policy reforms, and public health initiatives aimed at enhancing elderly care accessibility. This demographic move is fostering growth in geriatric care services, which now embodies a wide range of offerings, comprising medical treatments, long-term care, home care, and preventive health measures.
Technological developments present significant opportunities within this market. Innovations such as remote patient monitoring, telehealth, wearable health devices, and AI-driven predictive analytics are revolutionize geriatric care. These technologies facilitate continuous health monitoring, early detection of health problems, and timely medical interventions, minimizing hospitalizations and enhancing health outcomes. Smart home systems and assistive devices are also promoting independent living, aligning with the preference of many elderly to age in place. The incorporation of telehealth with home care technologies expands the scope of healthcare providers, making healthcare more convenient and accessible for elderly patients.
In addition to that, the market is experiencing a transition towards home-based and community care services, indicating a trend towards more personalized and patient-centered care. Multidisciplinary care teams are becoming more common, ensuring thorough care that recognizes the emotional, physical, and social needs of older adults. Despite these advancements, challenges such as the increased cost of geriatric care services and the shortage of skilled healthcare professionals remain. Nonetheless, the continuous innovation in care delivery techniques and the continuous investment in geriatric care infrastructure are estimated to accelerate the market forward, enhancing the quality and accessibility of care for the elderly globally.
The market report presents an in-depth analysis, highlighting the capabilities of various stakeholders engaged in this industry, across different geographies. Amongst other elements, the market report includes:
A preface providing an introduction to the full report, Geriatric Care Services market, 2023-2033.
An outline of the systematic research methodology adopted to conduct the study on Geriatric Care Services market, providing insights on the various assumptions, methodologies, and quality control measures employed to ensure accuracy and reliability of our findings.
An overview of economic factors that impact the overall Geriatric Care Services market, including historical trends, currency fluctuation, foreign exchange impact, recession, and inflation measurement.
An executive summary of the insights captured during our research, offering a high-level view of the current state of the Geriatric Care Services market and its likely evolution in the mid-to-long term.
A brief introduction to the Geriatric Care Services, highlighting their historical background, as well as information on their types, key aspects, key challenges and the advantages of using Geriatric Care Services.
A detailed assessment of the market landscape of Geriatric Care Services that are either approved or being evaluated in different stages of development, based on several relevant parameters, such as By Services (Home Care Services (Health Care (Medical Care, Physiotherapy Services, Telehealth, Palliative Care, Hospice Care), Non-Medical Home Care (Personal Care, Homemaking, Meals and Grocery, Rehabilitation, Others), Adult Care Services (Health Care, Non-Medical Care), Institutional Care Services (Nursing Homes (Palliative Care, Hospice Care )Hospital-based, Assisted Living, Independent Senior Living)). Further, the chapter features analysis on key niche market segments. In addition, the chapter features analysis of various Geriatric Care Services developers, based on their year of establishment, company size, location of headquarters and most active players.
An in-depth analysis of partnerships and collaborations that have been inked between various stakeholders, since 2019, based on several relevant parameters, such as the year of partnership, type of partnership, focus of partnership, purpose of partnership, therapeutic applications and most active players (in terms of number of partnerships). It also highlights the regional distribution of partnership activity in this market.
A detailed analysis of various investments made by companies engaged in this industry, since 2019, based on several relevant parameters, such as year of funding, type of funding (grants, seed, venture capital, initial public offering, secondary offerings, private equity and debt financing), type of HPAPIs, amount invested, geography, purpose of funding, stage of development, therapeutic area, most active players (in terms of number and amount of funding instances) and leading investors (in terms of number of funding instances).
An in-depth analysis of the various Geriatric Care Services focused initiatives undertaken by big market players, based on several relevant parameters, such as number of initiatives, year of initiative, type of initiative, purpose of initiative, focus of initiative and location of headquarters of the big pharma players.
One of the key objectives of this market report was to estimate the current market size and the future growth potential of the Geriatric Care Services over the forecast period. Based on several parameters, such as regional analysis as well as segmental analysis rates, we have developed informed estimates of the likely evolution of the Geriatric Care Services market over the forecast period 2023-2033. Our year-wise projections of the current and future opportunity have further been segmented based on relevant parameters, such as By Services (Home Care Services (Health Care (Medical Care, Physiotherapy Services, Telehealth, Palliative Care, Hospice Care), Non-Medical Home Care (Personal Care, Homemaking, Meals and Grocery, Rehabilitation, Others), Adult Care Services (Health Care, Non-Medical Care), Institutional Care Services (Nursing Homes (Palliative Care, Hospice Care )Hospital-based, Assisted Living, Independent Senior Living), by key geographical regions (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) and leading players. In order to account for future uncertainties associated with some of the key parameters and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base, and optimistic scenarios, representing different tracks of the industry’s evolution.