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Global Geriatric Care Services Market Segmentation And By Key Players Brookdale Senior living, Sunrise Senior Living Inc., Senior Care Centers of America, Kindred Healthcare , GGNSC Holdings
Geriatric Care Services
According to the U.S. Census Bureau, 2015, population of age 65 years and above is expected to increase over 60% during 2015 – 2030. It is estimated that the highest growth would be in Asia and Latin America. Africa, on the other hand, is the youngest region as of 2015 and is expected to remain the same in the near future. Therefore, growth of elderly care in respective regions is estimated to follow a similar trend. However, affordability of geriatric care services is expected to hinder growth of the geriatric care services market in emerging economies such as India, Brazil, and China. Therefore, cost-effective products need to be offered by the service providers to attract the relatively cost-sensitive customers in these economies.
"Increasing range of services by geriatric care centers to improve the geriatric care services market outlook"
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Geriatric care centers has evolved from being mere psychological support to nursing care and supervision. Geriatric care centers have well-trained specialists for different geriatric care needs. Services include health planning, problem-solving, health assessment and monitoring, home-care services, and personal care assistance. Furthermore, the providers of geriatric care services help customers to choose the most appropriate insurance policies as per their individual needs. The geriatric care managers also offer counseling and support, crisis intervention, decisions regarding appropriate housing options, money management, and assistance with moving an elderly to or from different types of housing. LivHome Technology+, by LivHome, Inc., addresses the safety issues, enables social engagement, and medication support. The company has LivHome Connect that includes 24 hour Active Remote Care (ARC) from in-house licensed nurses to the patients in need.
Growing demand for continuing care in the global geriatric care services market
Geriatric care centers provide services include home healthcare, assisted living facilities, adult day care services, continuing care recruitment, and skilled nursing facilities. Skilled nursing facilities and home healthcare are the major revenue contributors for providers, owing to involvement of more time and workforce in these service types. However, demand for continuing care is increasing rapidly. Elderly population is highly prone to injuries, and therefore require continual care. Also, increasing women labor workforce participation has led to increase in demand for continuing care. The continuing care service type segment in the global geriatric care services market is projected to develop at a CAGR of 4.6% during the forecast period (2016-2024).
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