Analysts at Fact.MR, a supplier of market research and competitive intelligence, forecast that the geriatric care services market will reach US$ 700 Mn by the end of 2028 from a net worth of US$ 400 Mn in 2020.
The ageing population around the world has significantly increased, and this trend has greatly boosted the market potential for geriatric care services, which is also anticipated to continue until 2028. Through 2028, it is anticipated that key factors affecting market expansion would include rising government assistance, a focus on preventative healthcare, the incidence of chronic infectious diseases, and favourable reimbursement policies for aged care.
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Key pioneers
- Amedisys Incorporated
- Brookdale Senior Living Incorporated
- Extendicare Incorporated
- Genesis HealthCare Corporation
- Gentiva Health Services Incorporated
- GGNSC Holdings
- Home Instead Senior Care Incorporated
- Kindred Healthcare Incorporated
- Senior Care Centers of America
- Skilled Healthcare Group Incorporated
- Sunrise Senior Living Incorporated
Winning Strategy
Market players are focusing on the establishment of new elder care facilities to serve the rising geriatric population across the world and this trend is expected to be prominent in the developing economies.
Geriatric care service providers are also focusing on advancing their offerings by integration of new advanced technologies to provide better services. Supportive government initiatives are also expected to favor the growth of the geriatric care services market players over the forecast period.
Key geriatric care service providers are focusing on the expansion of their coverage scope across regions by launching new services and institutions specifically focused on elderly care.
- In January 2022, Yodda Elder Care Technologies, a premium parent care company headquartered in India, announced the start of its emergency and healthcare services for the elderly who live independently in Hyderabad, India.
Key Highlights
- The global geriatric care services market held a net worth of US$ 400 Mn in 2020.
- From 2021 to 2028, demand for geriatric care services is predicted to rise at a CAGR of 5.3%.
- By 2028, the geriatric care services market is anticipated to be valued at US$ 700 Mn.
- Increasing aging population, rising focus on geriatric care, and growing supportive initiatives from governments are expected to majorly drive geriatric care services market growth.
- Lack of geriatric care services in developing economies and high costs of these services are anticipated hinder market growth to some extent.
- North America is expected to lead the global geriatric care services market.
Industry Research
- by Type:
- Home Care
- Health Care
- Medical Care
- Physiotherapy Services
- Telehealth
- Palliative Care
- Hospice Care
- Non-medical Home Care
- Personal Care
- Home Making
- Meals and Grocery
- Rehabilitation
- Others
- Health Care
- Adult Day Care
- Health Care
- Non-Medical Care
- Institutional Care
- Nursing Homes
- Palliative Care
- Hospice Care
- Hospital-Based
- Assisted Living
- Independent Senior Living
- Nursing Homes
- Home Care
- by Region:
- North America Geriatric Care Services Market
- Latin America Geriatric Care Services Market
- Europe Geriatric Care Services Market
- East Asia Geriatric Care Services Market
- South Asia & Oceania Geriatric Care Services Market
- MEA Geriatric Care Services Market
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