Geriatric Care Services Market to Reach Worth US$1582.5 Billion by 2027
SHERIDAN, WYOMING, USA, May 11, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “Geriatric Care Services Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027”, the global geriatric care services market reached a value of US$997.3 billion in 2021. Geriatric care services refers to medical institutions providing health and wellness services to seniors Nutritional services, home care, medication, socialization programs and non-medical services, such as housekeeping, personal care, meals and grocery shopping are some of the services commonly offered These services are widely used for patients suffering from neurological diseases, diabetes, cancer, respiratory, heart and kidney diseases. to regularly monitor health, offer support, detect serious conditions early, address emotional concerns, provide nutritious meals, and prevent deterioration of an existing health condition. Due to the aforementioned factors, the market is expected to reach a value of US$1582.5 billion by 2027, growing at a CAGR of 7.70% during the period 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 to ameliorate, treat and prevent diseases, such as Alzheimer’s disease and dementia, which are more prevalent among older people. In this light, the growing prevalence of chronic health conditions, such as high blood pressure, diabetes, orthopedic disorders, respiratory problems, cancer, and cardiovascular disease (CVD), is driving the growth of the market. Also, the introduction of various advanced technologies, such as robotics and Internet of Things (IoT) in geriatric care wards to perform tasks, automate workflows and reduce errors, is giving impetus to market growth. Additionally, ongoing improvements related to geriatric care services, such as the availability of skilled caregivers, transparency throughout the process, remote patient management, and the provision of home care services with convenience and improved profitability, have a positive impact on market growth. Other factors including rising consumer spending, significant improvements in healthcare infrastructure, and implementation of various government initiatives aimed at providing easily accessible and affordable social care services to the elderly are expected to push the market towards growth.
Key Players Included in the Global Geriatric Care Services Market Research Report:
• Amedisys Inc.
• Brookdale Senior Living Inc.
• Econ Healthcare Group
• Extendicare Inc.
• Genesis Healthcare
• Home Inc. (Honor Technology Inc.)
• Related health care
• Portea Medical
• Revera Inc.
• Rosewood Care Group Inc.
• Sunrise Senior Living LLC.
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Key Market Segmentation:
Breakdown by department:
• Home Care
• Adult daycare
• Institutional care
Breakdown by source of payment:
• Public insurance
• Private insurance
Breakdown by application:
• Respiratory diseases
• Heart disease
• Neurological diseases
• Kidney diseases
Breakdown 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, others)
Table of Contents of Geriatric Care Services Market Research Report:
• Scope and methodology
• Market for geriatric care services
• SWOT analysis
• Value chain analysis
• Price analysis
• Competitive landscape
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