IMARC Group’s latest research report, titled “Geriatric Care Services Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” The global geriatric care services market size reached US$ 1,084 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,682 Billion by 2028. exhibiting a growth rate CAGR of 7.3% during 2023-2028.
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Geriatric Care Services Industry Outlook:
Geriatric care services refer to a range of specialized services and support designed to address the unique needs and challenges faced by older adults, particularly those who are frail, disabled, or suffer from chronic illnesses. The aim is to improve the quality of life for older adults by promoting independence, preventing illness and injury, managing chronic conditions, and providing compassionate end-of-life care. These services are provided by various healthcare professionals, including physicians, nurses, social workers, occupational therapists, and physical therapists. They include both medical and non-medical or personal care services, such as counseling and support, monitoring health regularly, fulfilling in-home care needs, addressing emotional concerns, and making other living arrangements.
Geriatric Care Services Market Growth:
The growing geriatric population level is driving the global market. Coupled with this, the rising prevalence of chronic disorders, including heart disease, diabetes, and cancer, among the masses is catalyzing the market. Moreover, the development of new and innovative geriatric care services, such as telemedicine, which allows doctors to provide care remotely by using wearable devices that can track vital signs and alert healthcare providers about potential issues, is providing a boost to the market. Furthermore, the governments of various countries are taking several initiatives to provide easily accessible and affordable social care services to the elderly population, thus creating a positive market outlook. Other factors, including continous improvements in healthcare infrastructure and growing awareness among individuals, are also influencing the market.
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Key Market Segmentation:
Top Companies in Global Geriatric Care Services Market:
• 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.
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)
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