Future Opportunities and Current Industry Trends in Geriatric Medicines Market including Top Key Players: GlaxoSmithKline Plc, BoehringerIngelheim GmbH, Novartis AG, Bristol-Myers Squibb Company, Pfizer, Inc., Eli Lilly and Company, Abbott Laboratories In
Geriatric Medicines, also called geriatrics is a division of medicines associated with preventive, clinical, remedial, and social aspects of disease generally amongst people that are aged over 65 years or more. In response to the needs of an aging population, demand for geriatric medicines and appropriate cure has developed rapidly during last decades. The proper medical care for the geriatric patients across the range of ill health conditions includes co-morbid complications such as syncope, cerebral aging, and falls among others.
North America is estimated to dominate the Geriatric Medicines Market. The existence of developed healthcare facilities, favorable reimbursement policies, and the easy availability of important as well as life-saving medicine has significantly enhanced the average life expectancy rates in North America. Moreover, the number of people that are over 65 to 70 years suffering several target ailments is increasing continually which is further anticipated to boost the market during the forecast period.
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Growth Analysis: -
Geriatric Medicines Market Size is anticipated to reach over USD 1,157.34 billion by 2026 according to a new research published by Polaris Market Research.
Geriatric Medicines Market is majorly driven by the factor including a rise in geriatric populations. According to the Eurostat, the number of people aged 65 years and above is expected reach 141 million by 2050 globally. In addition, the high market growth is expected on account of the increasing occurrence of numerous target disorders in the geriatric population, the demographic modification, the rising trend in lifestyle-associated risk aspects, and the considerably developed access to economic medicine across the developing and emerging regions.
Some major key players in Geriatric Medicines Market include: -
• GlaxoSmithKline Plc
• BoehringerIngelheim GmbH
• Novartis AG
• Bristol-Myers Squibb Company
• Pfizer Inc.
• Eli Lilly and Company
• Abbott Laboratories Inc.
• AstraZeneca plc
• Merck & Company Inc.
• Sanofi S.A
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Continuous R&D activities commenced by key players and pharmaceutical companies to provide to the patient demand is expected to gain the significant outcomes during the forecast period. Increasing occurrence of chronic ailments, refining healthcare organization in emerging economies, increasing acceptance of medical tourism, government initiatives as well as support to provide timely care, and increasing number of specialty clinics are some of the other factors driving of the Geriatric Medicines Market. However, difficulties associated with drug compatibility, lack of patient involvement in clinical trials, and side effects associated with the medications are the factors hampering the market growth.
Table of Content of Geriatric Medicines Market:
Chapter 1. Overview and Scope
Chapter 2. Market Summary
Chapter 3 Geriatric Medicines Market Size and Forecast
Chapter 4. Dynamics and Segmentation
Chapter 5. Detailed Insight on Key Company
Chapter 6. Research Methodology and Reference
Chapter 7. Competitive Landscape
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