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Geriatric Care Services Market to Reach a value of US$ 1582.5 Billion by 2027
SHERIDAN, WYOMING, UNITED STATES, May 11, 2022 /EINPresswire.com / -- According to the latest report by IMARC Group, titled 'Geriatric Care Services Market: 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. 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. 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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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.
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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
•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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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.
Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
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