IMARC Group’s latest research report, titled “Geriatric Care Services Market Outlook: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
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The global geriatric care services market size reached a value of US$ 997.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1582.5 Billion by 2027 exhibiting a CAGR of 7.70% during 2022-2027. Geriatric care services include various wellness and health-related facilities that are mainly designed for the geriatric population. It involves planning and coordinating the care of older population with physical and mental issues for meeting with their long-term care requirements, enhancing the quality of life and upholding their independence. Some of the common services offered to the elderly include comprehensive routine health checkups, medications and nutritional services. Additionally, it also includes other non-medical services, such as socialization programs, home care, meal preparations, financial and legal planning, and assistance with activities of daily living in order to fulfill their social, psychological and medical needs. Due to the easy accessibility to these services, availability of trained professionals and enhanced quality of care, there has been a considerable increase in the preference for geriatric care services across the globe.
COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The rapid outbreak of coronavirus disease (COVID-19) has stimulated the geriatric care services market across the globe. Numerous key players in the market have initiated vaccination services to their elderly residents and clinical checkups for addressing the long-term effects of COVID-19 and associated illnesses among the older population. This, in turn, is providing an impetus to the market growth. In addition to this, the pandemic has provided an opportunity for partnerships between leading players and national experts for offering support to older individuals. Apart from this, the rising investments and funding activities for ensuring the easy availability of resources for developing a culture of social and emotional well-being for both associates and residents have driven the demand for services among the masses.
Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by service, payment source and application.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Geriatric Care Services Market
- Strategies of major players and product offerings
The global market is primarily driven by the increasing geriatric population. Coupled with the growing prevalence of chronic illness among the elderly population, this is creating a positive outlook for the market. In line with this, the rising awareness regarding the availability of geriatric care services with the presence of pertinent facilities among the masses represents a key factor driving the market growth across the globe. Along with this, numerous initiatives undertaken by the governments of multiple countries by introducing affordable geriatric care services and favorable reimbursement policies are positively influencing the market demand. Moreover, continual technological advancements, such as the introduction of telemedicine for providing healthcare support without the need for in-person visits, are considered to be major growth-inducing factors. Other factors, including rapid urbanization, continual improvements in the healthcare infrastructure, the easy availability of long-term service providers and the development of well-organized models for delivering geriatric healthcare services, are also creating a positive outlook for the market.
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.
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Key Market Segmentation:
Breakup by Services:
- Home Care
- Adult Day Care
- Institutional Care
Breakup by Payment Source:
- Public Insurance
- Private Insurance
Breakup by Application:
- Respiratory Diseases
- Heart Diseases
- Neurological Diseases
- Kidney Diseases
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:
- Scope and Methodology
- Executive Summary
- Geriatric Care Services Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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