Global Geriatric Care Services Market Report and Forecast 2023-2031
Global Geriatric Care Services Market Outlook
The global geriatric care services market value was USD 1071.65 billion in 2022, driven by the increasing aging population and rising demand for specialized healthcare services for the elderly across the globe. The market size is anticipated to grow at a CAGR of 6.5% during the forecast period of 2023-2031 to achieve a value of USD 1885.9 billion by 2031.
Geriatric Care Services Introduction
Geriatric care services are specialized healthcare services designed to address the unique health needs of the elderly population. Geriatric care services aim to improve the quality of life and functional abilities of older adults by providing preventive care, acute care, and rehabilitative care. These services are provided by healthcare professionals who are trained to work with seniors and understand the complex health issues that can arise with age.
Geriatric care services may include a variety of different types of care, such as home health care, nursing home care, adult day care, and hospice care. These services can help seniors manage chronic conditions, maintain independence, and improve their overall health and wellbeing.
The global geriatric care services market is growing due to the increasing aging population and rising demand for specialized healthcare services for the elderly. Key trends in the market include a shift towards home-based care and the use of technology to improve the delivery of geriatric care services. The market is also seeing an increase in partnerships and collaborations between healthcare providers to better address the needs of the aging population.
Geriatric Care Services Market Scenario
Geriatric care services refer to the healthcare services that cater to the needs of the aging population. With advancements in medical technology and an increase in life expectancy, the demand for geriatric care services is on the rise. Geriatric care services aim to improve the quality of life of older adults by providing them with medical, emotional, and social support. The services can be provided in various settings, such as hospitals, long-term care facilities, and in the patients' homes.
The geriatric care services market is expected to grow significantly in the coming years due to the increasing geriatric population, rising prevalence of chronic diseases, and the need for specialized care for older adults. The market is also driven by the increasing adoption of technology in healthcare, which has enabled remote monitoring and virtual consultations for geriatric patients. In addition, the growing focus on preventive healthcare and the rising awareness of geriatric care services are expected to fuel the market growth.
However, the high cost of geriatric care services and the shortage of skilled professionals in the field are some of the factors that may hinder the market growth. Despite these challenges, the geriatric care services market is expected to witness significant growth in the coming years due to the increasing demand for quality healthcare services for older adults.
Geriatric Care Services Market Segmentations
Market Breakup by Services Type
- Home Care Services
- Health Care
- Medical Care
- Physiotherapy Services
- Telehealth
- Palliative Care
- Hospice Care
- Non-Medical Home Care
- Personal Care
- Home Making
- Meals And Grocery
- Rehabilitation
- Others
- Adult Care Services
- Health Care
- Non-Medical Care
- Institutional Care Services
- Nursing Homes
- Palliative Care
- Hospice Care
- Hospital-Based
- Assisted Living
- Independent Senior Living
- Public Insurance
- Private Insurance
- Others
- Respiratory Diseases
- Diabetes
- Heart Diseases
- Kidney Diseases
- Neurological Diseases
- Cancer
- Others
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Italy
- Others
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Australia
- Others
- Latin America
- Brazil
- Argentina
- Mexico
- Others
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Nigeria
- South Africa
- Others
Key Trends in the Geriatric Care Services Market
Key Trends in Geriatric Care Services Market:
- Increasing aging population: The global aging population is rapidly increasing, leading to a rise in the demand for geriatric care services. This trend is expected to continue in the coming years, which will drive the growth of the market.
- Technological advancements: The geriatric care services market is witnessing a significant transformation with the adoption of new technologies, including telehealth, remote monitoring, and other digital health solutions. These technological advancements are improving the quality of care and reducing the cost of care, which is driving the demand for geriatric care services.
- Personalized care: Geriatric care services are increasingly becoming personalized, with a focus on individual patient needs and preferences. This approach to care is gaining popularity as it is more effective in managing chronic conditions and improving patient outcomes.
- Home-based care: With the rising cost of healthcare and an increasing focus on patient-centred care, home-based geriatric care services are gaining popularity. This trend is expected to continue, with more patients opting for home-based care over hospital-based care.
- Government initiatives: Governments around the world are taking initiatives to improve the quality of geriatric care services and promote healthy aging. This is driving the growth of the market, with more investment in the development of new and innovative geriatric care services.
Geriatric Care Services Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Brookdale Senior Living Inc.
- Extendicare Inc.
- Gentiva Health Services Inc
- Kindred Healthcare Inc.
- Senior Care Centers of America
- Sunrise Senior Living Inc.
- Genesis Healthcare Corp.
- Home Instead Senior Care Inc.
- GGNSC Holdings, LLC
- 1 Preface
- 1.1 Objectives of the Study
- 1.2 Key Assumptions
- 1.3 Report Coverage – Key Segmentation and Scope
- 1.4 Research Methodology
- 2 Executive Summary
- 3 Global Geriatric Care Services Market Overview
- 3.1 Global Geriatric Care Services Market Historical Value (2016-2022)
- 3.2 Global Geriatric Care Services Market Forecast Value (2023-2031)
- 4 Global Geriatric Care Services Market Landscape
- 4.1 Global Geriatric Care Services Landscape
- 4.1.1 Analysis by Year of Establishment
- 4.1.2 Analysis by Company Size
- 4.1.3 Analysis by Region
- 4.2 Global Geriatric Care Services Product Landscape
- 4.2.1 Analysis by Services
- 4.2.2 Analysis by Payment Type
- 4.2.3 Analysis by Applications
- 5 Global Geriatric Care Services Market Dynamics
- 5.1 Market Drivers and Constraints
- 5.2 SWOT Analysis
- 5.3 Porter’s Five Forces Model
- 5.4 Key Demand Indicators
- 5.5 Key Price Indicators
- 5.6 Industry Events, Initiatives, and Trends
- 5.7 Value Chain Analysis
- 6 Global Geriatric Care Services Market Segmentation
- 6.1 Global Geriatric Care Services Market by Services Type
- 6.1.1 Market Overview
- 6.1.2 Home Care Services
- 6.1.2.1 Health Care
- 6.1.2.1.1 Medical Care
- 6.1.2.1.2 Physiotherapy Services
- 6.1.2.1.3 Telehealth
- 6.1.2.1.4 Palliative Care
- 6.1.2.1.5 Hospice Care
- 6.1.2.2 Non-Medical Home Care
- 6.1.2.2.1 Personal Care
- 6.1.2.2.2 Home Making
- 6.1.2.2.3 Meals And Grocery
- 6.1.2.2.4 Rehabilitation
- 6.1.2.2.5 Others
- 6.1.3 Adult Care Services
- 6.1.3.1 Health Care
- 6.1.3.2 Non-Medical Care
- 6.1.4 Institutional Care Services
- 6.1.4.1 Nursing Homes
- 6.1.4.1.1 Palliative Care
- 6.1.4.1.2 Hospice Care
- 6.1.4.2 Hospital-Based
- 6.1.4.3 Assisted Living
- 6.1.4.4 Independent Senior Living
- 6.2 Global Geriatric Care Services Market by Payment Type
- 6.2.1 Market Overview
- 6.2.2 Public Insurance
- 6.2.3 Private Insurance
- 6.2.4 Others
- 6.3 Global Geriatric Care Services Market by Applications
- 6.3.1 Market Overview
- 6.3.2 Respiratory Diseases
- 6.3.3 Diabetes
- 6.3.4 Heart Diseases
- 6.3.5 Kidney Diseases
- 6.3.6 Neurological Diseases
- 6.3.7 Cancer
- 6.3.8 Others
- 6.4 Global Geriatric Care Services Market by Region
- 6.4.1 Market Overview
- 6.4.2 North America
- 6.4.3 Europe
- 6.4.4 Asia Pacific
- 6.4.5 Latin America
- 6.4.6 Middle East and Africa
- 7 North America Geriatric Care Services Market
- 7.1 Market Share by Country
- 7.2 United States of America
- 7.3 Canada
- 8 Europe Geriatric Care Services Market
- 8.1 Market Share by Country
- 8.2 United Kingdom
- 8.3 Germany
- 8.4 France
- 8.5 Italy
- 8.6 Others
- 9 Asia Pacific Geriatric Care Services Market
- 9.1 Market Share by Country
- 9.2 China
- 9.3 Japan
- 9.4 India
- 9.5 ASEAN
- 9.6 Australia
- 9.7 Others
- 10 Latin America Geriatric Care Services Market
- 10.1 Market Share by Country
- 10.2 Brazil
- 10.3 Argentina
- 10.4 Mexico
- 10.5 Others
- 11 Middle East and Africa Geriatric Care Services Market
- 11.1 Market Share by Country
- 11.2 Saudi Arabia
- 11.3 United Arab Emirates
- 11.4 Nigeria
- 11.5 South Africa
- 11.6 Others
- 12 Patent Analysis
- 12.1 Analysis by Type of Patent
- 12.2 Analysis by Publication year
- 12.3 Analysis by Issuing Authority
- 12.4 Analysis by Patent Age
- 12.5 Analysis by CPC Analysis
- 12.6 Analysis by Patent Valuation
- 12.7 Analysis by Key Players
- 13 Grants Analysis
- 13.1 Analysis by year
- 13.2 Analysis by Amount Awarded
- 13.3 Analysis by Issuing Authority
- 13.4 Analysis by Grant Application
- 13.5 Analysis by Funding Institute
- 13.6 Analysis by NIH Departments
- 13.7 Analysis by Recipient Organization
- 14 Funding Analysis
- 14.1 Analysis by Funding Instances
- 14.2 Analysis by Type of Funding
- 14.3 Analysis by Funding Amount
- 14.4 Analysis by Leading Players
- 14.5 Analysis by Leading Investors
- 14.6 Analysis by Geography
- 15 Partnership and Collaborations Analysis
- 15.1 Analysis by Partnership Instances
- 15.2 Analysis by Type of Partnership
- 15.3 Analysis by Leading Players
- 15.4 Analysis by Geography
- 16 Regulatory Framework
- 16.1 Regulatory Overview
- 16.1.1 US FDA
- 16.1.2 EU EMA
- 16.1.3 INDIA CDSCO
- 16.1.4 JAPAN PMDA
- 16.1.5 Others
- 17 Supplier Landscape
- 17.1 Brookdale Senior Living Inc.
- 17.1.1 Financial Analysis
- 17.1.2 Product Portfolio
- 17.1.3 Demographic Reach and Achievements
- 17.1.4 Mergers and Acquisitions
- 17.1.5 Certifications
- 17.2 Extendicare Inc.
- 17.2.1 Financial Analysis
- 17.2.2 Product Portfolio
- 17.2.3 Demographic Reach and Achievements
- 17.2.4 Mergers and Acquisitions
- 17.2.5 Certifications
- 17.3 Gentiva Health Services Inc
- 17.3.1 Financial Analysis
- 17.3.2 Product Portfolio
- 17.3.3 Demographic Reach and Achievements
- 17.3.4 Mergers and Acquisitions
- 17.3.5 Certifications
- 17.4 Kindred Healthcare Inc.
- 17.4.1 Financial Analysis
- 17.4.2 Product Portfolio
- 17.4.3 Demographic Reach and Achievements
- 17.4.4 Mergers and Acquisitions
- 17.4.5 Certifications
- 17.5 Senior Care Centers of America
- 17.5.1 Financial Analysis
- 17.5.2 Product Portfolio
- 17.5.3 Demographic Reach and Achievements
- 17.5.4 Mergers and Acquisitions
- 17.5.5 Certifications
- 17.6 Sunrise Senior Living Inc.
- 17.6.1 Financial Analysis
- 17.6.2 Product Portfolio
- 17.6.3 Demographic Reach and Achievements
- 17.6.4 Mergers and Acquisitions
- 17.6.5 Certifications
- 17.7 Genesis Healthcare Corp.
- 17.7.1 Financial Analysis
- 17.7.2 Product Portfolio
- 17.7.3 Demographic Reach and Achievements
- 17.7.4 Mergers and Acquisitions
- 17.7.5 Certifications
- 17.8 Home Instead Senior Care Inc.
- 17.8.1 Financial Analysis
- 17.8.2 Product Portfolio
- 17.8.3 Demographic Reach and Achievements
- 17.8.4 Mergers and Acquisitions
- 17.8.5 Certifications
- 17.9 GGNSC Holdings, LLC
- 17.9.1 Financial Analysis
- 17.9.2 Product Portfolio
- 17.9.3 Demographic Reach and Achievements
- 17.9.4 Mergers and Acquisitions
- 17.9.5 Certifications
- 18 Global Geriatric Care Services Market - Distribution Model (Additional Insight)
- 18.1 Overview
- 18.2 Potential Distributors
- 18.3 Key Parameters for Distribution Partner Assessment
- 19 Key Opinion Leaders (KOL) Insights (Additional Insight)
- 20 Company Competitiveness Analysis (Additional Insight)
- 20.1 Very Small Companies
- 20.2 Small Companies
- 20.3 Mid-Sized Companies
- 20.4 Large Companies
- 20.5 Very Large Companies
- 21 Payment Methods (Additional Insight)
- 21.1 Government Funded
- 21.2 Private Insurance
- 21.3 Out-of-Pocket
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