Geriatric Care Services Market is expected to generate a revenue of USD 2.03 Billion by 2031, Globally, at 7.98% CAGR: Verified Market Research®

Verified Market Research^® a leading provider of business intelligence and market analysis is thrilled to announce the release of its comprehensive and authoritative report on the, "Geriatric Care Services Market Size and Forecast," Designed for industry leaders, healthcare providers, and senior care innovators. The report provides in-depth insights into the market dynamics, emerging trends, and growth drivers shaping this critical industry.

LEWES, Del., Jan. 21, 2025 /PRNewswire/ -- The Global Geriatric Care Services Market Size is projected to grow at a CAGR of 7.98% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 1.10 Billion in 2024 and is expected to reach USD 2.03 Billion by the end of the forecast period.

The global geriatric population is growing rapidly, according to a World Health Organization report published in September 2024, the global population aged 60 and up is expected to double from 1 billion in 2020 to 2.1 billion in 2050. This demographic shift is fueling demand for tailored care services, creating lucrative opportunities across the healthcare, insurance, and caregiving sectors.

Key Insights of the Report Include:

• Market Size & Forecast: Detailed analysis of the current market valuation and projections through 2024 to 2031, helping businesses strategize their long-term plans.
• Trends & Innovations: Exploration of technological advancements and service innovations driving growth in geriatric care.
• Segment Insights: Comprehensive breakdown of market segments, including home care, institutional care, and adult day care services.
• Regional Analysis: Deep dive into growth patterns across North America, Europe, Asia-Pacific, and other key regions.
• Competitive Landscape: Profiling of leading players and an analysis of strategies that give them a competitive edge.

Why This Report Matters?

• Healthcare Providers seeking to expand their service offerings.
• Senior Care Innovators aiming to align with consumer preferences and market demands.
• Investors and Venture Capitalists evaluating high-potential growth sectors.
• Government Agencies planning infrastructure and policy frameworks for aging populations.

Stay ahead of the curve in the ever-evolving Geriatric Care Services Market. For more information or to request a sample copy of the report, please visit: https://www.verifiedmarketresearch.com/download-sample/?rid=30804

Browse in-depth TOC on "Global Geriatric Care Services Market Size"

202 - Pages
126 – Tables
37 – Figures

Report Scope

Global Geriatric Care Services Market Overview

Rapidly Aging Global Population: The growing older population worldwide is a major driver of the Geriatric Care Services Market. With the number of people aged 60 and older predicted to exceed 1.5 billion by 2050, the demand for specialized care services is increasing rapidly. This trend opens up lucrative potential for suppliers of home care, assisted living, and institutional care. Organizations that invest in scalable and creative solutions will profit from robust growth, placing themselves as leaders in a rapidly expanding market.

Rising Prevalence of Chronic Diseases: The rising prevalence of chronic disorders such as Alzheimer's, arthritis, and cardiovascular disease among the elderly is driving up demand for geriatric care services. This tendency demands comprehensive medical and non-medical support systems, which promote innovation and collaboration throughout the healthcare ecosystem. Stakeholders in the Geriatric Care Services Market who match their services to address these needs will gain market share and drive long-term profitability.

Advancements in Home-Based Healthcare Technology: Remote monitoring, telemedicine, and wearable gadgets have transformed the Geriatric Care Services Market. These advances improve care accessibility and efficiency while lowering costs, establishing home-based care as a viable alternative to traditional institutional settings. Companies that integrate these technologies into their service portfolios are poised to attract a bigger consumer base and achieve sustained growth in a tech-driven environment.

To Purchase a Comprehensive Report Analysis: https://www.verifiedmarketresearch.com/select-licence/?rid=30804

Market Restraint:

High Cost of Geriatric Care Services: The rising cost of geriatric care services presents a considerable barrier, especially for low-income households. Institutional care, in-home services, and specialized therapies are frequently out of reach for the average consumer, restricting market penetration. To overcome this hurdle and drive market expansion, players in the Geriatric Care Services Market must address cost-effectiveness through novel pricing structures and insurance agreements.

Workforce Shortages in Senior Care: A key constraint in the Geriatric Care Services Market is a lack of skilled caregivers. The growing demand for aged care exceeds the supply of skilled experts, resulting in service gaps and quality concerns. Companies that engage in worker training, development, and retention methods can alleviate this difficulty, assuring consistent service delivery and promoting themselves as trustworthy partners in senior care.

Limited Awareness and Accessibility: Limited knowledge of geriatric care services and limited infrastructure in rural and disadvantaged areas impede market expansion. Many families are unaware of creative alternatives or lack access to the essential resources. Organizations in the Geriatric Care Services Market must focus on outreach, education, and regional expansion to bridge these gaps, boosting market reach and consumer engagement.

Geographical Dominance

North America dominates the Geriatric Care Services Market due to its aging population, strong healthcare infrastructure, and widespread awareness of elder care services. Europe follows suit, with considerable government funding for elderly welfare. Meanwhile, Asia-Pacific is experiencing significant expansion, fueled by a large senior population and more healthcare investment. Regional dominance influences competitive strategy, with significant firms focusing on specialized offers to fulfill various demographic and economic needs.

Key Players

The "Global Geriatric Care Services Market" study report will provide a valuable insight with an emphasis on the global market.  The major players in the market are Endo Pharmaceuticals, Inc., Merck & Co., Inc., AstraZeneca PLC, Pfizer, Inc., Allergan, Inc., Bristol-Myers Squibb Company, Regeneron Pharmaceuticals, Inc., AstraZeneca PLC, Hoffmann-La Roche AG, Octapharma AG.

Geriatric Care Services Market Segment Analysis

Based on the research, Verified Market Research has segmented market into Product Type, Service, Application and Geography.

• Geriatric Care Services Market, by Product Type:
  • Housing & Assistive Devices
  • Pharmaceuticals
    
    
• Geriatric Care Services Market, by Service:
  • Homecare
  • Institutional Care
    
    
• Geriatric Care Services Market, by Application:
  • Respiratory Diseases
  • Diabetes
  • Osteoporosis
  • Heart Diseases
    
    
• Geriatric Care Services Market, by Geography
  • North America
    • U.S
    • Canada
    • Mexico
      
      
  • Europe
    • Germany
    • France
    • U.K
    • Rest of Europe
      
      
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
      
      
  • ROW
    • Middle East & Africa
    • Latin America

Browse Related Reports:

Global Topical Pain Relief Market Size By Distribution Channel (Pharmacies and Drug Stores, E-commerce), End-User (Opioids, Non-Opioids), Gender (Women, Men), Conditions (Acute Pain, Chronic Pain), Formulation (Cream, Gel), Age Group (Adults (18-64 Years), Geriatric (65 Years And Above), By Geography, And Forecast

Global Cardiovascular Information System Market Size By System Type (CVIS, Cardiology PACS), By Applications (Catheterization, Echocardiography, ECG Studies/Holter monitoring, Electrophysiology, Pacemaker/ICD, Nuclear Cardiology, Cardiothoracic Center, Heart Failure Centers), By Components (Software, Services), By End-User (Hospitals, Diagnostic Centers), By Geography, And Forecast

Global Point-Of-Care Molecular Diagnostics Market Size By Product & Service (Assays & Kits, Instruments & Analyzers, Software & Services), By Technology (RT-PCR, INAAT), By Application (Cancer, Infectious Diseases, Hematology, Endocrinology), By End-user (Hospitals & Clinics, Diagnostic Centers), By Geography, And Forecast

Global Healthcare Facilities Management Market Size By Type (Waste Management, Security Services, Catering Services, Cleaning Services), By End-User (Hospitals and Clinics, Long-term Healthcare Facilities), By Geography, And Forecast

Top Consumer Healthcare Companies improving consumer lives pole to pole

Visualize Geriatric Care Services Market using Verified Market Intelligence -:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research® stands at the forefront as a global leader in Research and Consulting, offering unparalleled analytical research solutions that empower organizations with the insights needed for critical business decisions. Celebrating 10+ years of service, VMR has been instrumental in providing founders and companies with precise, up-to-date research data.

With a team of 500+ Analysts and subject matter experts, VMR leverages internationally recognized research methodologies for data collection and analyses, covering over 15,000 high impact and niche markets. This robust team ensures data integrity and offers insights that are both informative and actionable, tailored to the strategic needs of businesses across various industries.

VMR's domain expertise is recognized across 14 key industries, including Semiconductor & Electronics, Healthcare & Pharmaceuticals, Energy, Technology, Automobiles, Defense, Mining, Manufacturing, Retail, and Agriculture & Food. In-depth market analysis cover over 52 countries, with advanced data collection methods and sophisticated research techniques being utilized. This approach allows for actionable insights to be furnished by seasoned analysts, equipping clients with the essential knowledge necessary for critical revenue decisions across these varied and vital industries.

Verified Market Research® is also a member of ESOMAR, an organization renowned for setting the benchmark in ethical and professional standards in market research. This affiliation highlights VMR's dedication to conducting research with integrity and reliability, ensuring that the insights offered are not only valuable but also ethically sourced and respected worldwide.

Contact Us
Mr. Edwyne Fernandes
Verified Market Research®
US: +1 (650)-781-4080
US Toll Free: +1 (800)-782-1768
Email: [email protected]
Web: https://www.verifiedmarketresearch.com/
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/2483702/Market_Research_Intellect_Logo.jpg

SOURCE Verified Market Research