Geriatric Care Services Market Price, Sales Research and Gross Margin Analysis up to 2022
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<strong>Geriatric</strong> <strong>Care</strong> <strong>Services</strong> <strong>Market</strong> <strong>Price</strong>, <strong>Sales</strong> <strong>Research</strong> <strong>and</strong> <strong>Gross</strong><br />
<strong>Margin</strong> <strong>Analysis</strong> <strong>up</strong> <strong>to</strong> <strong>2022</strong><br />
“The global <strong>Geriatric</strong> <strong>Care</strong> <strong>Services</strong> <strong>Market</strong> size is estimated <strong>to</strong><br />
reach USD 1,012.02 billion by <strong>2022</strong>, registering at a 6.1% CAGR<br />
during the forecast period. Growing geriatric population co<strong>up</strong>led<br />
with rising prevalence of chronic diseases is one the key fac<strong>to</strong>rs<br />
driving the growth of geriatric care services market.”<br />
The global <strong>Geriatric</strong> <strong>Care</strong> <strong>Services</strong> <strong>Market</strong> size is estimated <strong>to</strong> reach USD 1,012.02 billion by <strong>2022</strong>, registering at<br />
a 6.1% CAGR during the forecast period. Growing geriatric population co<strong>up</strong>led with rising prevalence of chronic<br />
diseases is one the key fac<strong>to</strong>rs driving the growth of geriatric care services market. According <strong>to</strong> United Nations<br />
World Ageing Population 2015 report, it was estimated that between 2015 <strong>and</strong> 2030, the number of people<br />
aged 60 years <strong>and</strong> above will grow by 56 percent, from 901 million (2015) <strong>to</strong> 1.4 billion (2030). It was also<br />
reported that by 2050, the number is expected <strong>to</strong> double its size, reaching about 2.1 billion. In addition, growing<br />
dem<strong>and</strong> for independent aging solutions <strong>and</strong> introduction of robotic technology in geriatric care is also<br />
anticipated <strong>to</strong> further boost <strong>up</strong> the market growth.<br />
Presence of favorable reimbursement policies <strong>and</strong> increased life expectancy are also amongst few fac<strong>to</strong>rs<br />
expected <strong>to</strong> propel dem<strong>and</strong> for geriatric care services. There is an increase in the adoption level for these<br />
services owing <strong>to</strong> the advantages associated with these services such as in chronic care management.<br />
Furthermore, increasing number of homecare <strong>and</strong> long term care services offered by geriatric care centers such<br />
as nursing care, health assessment & moni<strong>to</strong>ring, <strong>and</strong> counseling & financial s<strong>up</strong>port is anticipated <strong>to</strong> drive the<br />
dem<strong>and</strong> for these services.<br />
Favorable government initiatives <strong>and</strong> increasing elderly population prone <strong>to</strong> cardiovascular, orthopedic,<br />
neurological, <strong>and</strong> respira<strong>to</strong>ry disorders are some of the crucial attributes of this market. However, high cost of<br />
devices may hinder the growth of geriatric care services in emerging economies like China, India, <strong>and</strong> Brazil.<br />
Request Sample Copy of this <strong>Market</strong> <strong>Research</strong> @<br />
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Service Insights<br />
Based on the services, the market is segmented as home care, adult day care, <strong>and</strong> institutional care. Institutional<br />
services market held the largest market share of about 41.1% in 2014 pertaining <strong>to</strong> the fac<strong>to</strong>rs such as presence<br />
of large number of institutions <strong>and</strong> high usage levels of the institutions offering geriatric care services. In<br />
addition, homecare services is expected <strong>to</strong> witness fastest growth over the forecast period owing <strong>to</strong> increasing<br />
awareness regarding the advantage associated with the home care services among the elderly <strong>and</strong> patients in<br />
post-surgery recoveries. Increasing dem<strong>and</strong> for independent aging solutions <strong>and</strong> need for reducing overall cost<br />
of care services further drives <strong>up</strong> dem<strong>and</strong> for such services. However, low preference <strong>and</strong> availability of other<br />
options such as community centers <strong>and</strong> assisted living in developing countries may limit the growth of geriatric<br />
care services.<br />
Browse Full <strong>Research</strong> Report @<br />
https://www.millioninsights.com/industry-reports/geriatric-care-services-market<br />
Regional Insight<br />
North America dominated the market with the maximum share of 44.5% in 2014. Some of the key fac<strong>to</strong>rs<br />
attributing <strong>to</strong> the market growth include favorable reimbursement policies <strong>and</strong> presence of large number of<br />
care centers in the U.S. According the Center of Disease Control (CDC) in 2012, there were nearly 95% nursing<br />
homes, 77% adult day care service centers, 78% home health agencies, <strong>and</strong> 52% residential care communities<br />
were certified <strong>to</strong> participate in Medicaid. Asia pacific region is expected <strong>to</strong> be the fastest growing segment with<br />
a CAGR of 8.5% over the forecast period. The region offers untapped potential due <strong>to</strong> low product penetration<br />
rate, unmet medical needs, <strong>and</strong> large elderly population base in emerging economies like India <strong>and</strong> China. Rising<br />
incidences of neurological, orthopedic, <strong>and</strong> cardiovascular disorders in such countries is expected <strong>to</strong> drive the<br />
growth in this region. The growth prospects in Mexico is significant during the forecast period due <strong>to</strong> inadequate<br />
<strong>and</strong> distributed geriatric care services.<br />
Competitive Insights<br />
Few of the key participants of geriatric care services market include, Senior <strong>Care</strong> Centers of America; Brookdale<br />
Senior living; Kindred Healthcare Inc.; Genesis Healthcare Corp.; Sunrise Senior Living Inc.; GGNSC Holdings, LLC<br />
<strong>and</strong> Extendicare, Inc.<br />
<strong>Market</strong> Segment<br />
Service Outlook (Revenue, USD Billion, 2012 - <strong>2022</strong>)
• Home <strong>Care</strong> <strong>Services</strong><br />
• Adult <strong>Care</strong> <strong>Services</strong><br />
• Institutional <strong>Care</strong> <strong>Services</strong><br />
Regional Outlook (Revenue, USD Billion, 2012 - <strong>2022</strong>)<br />
• North America<br />
• Europe<br />
• Asia Pacific<br />
• Latin America<br />
• MEA<br />
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https://www.millioninsights.com/industry/medical-devices<br />
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