Geriatric Care Services Market is Predicted to Document CAGR of 6.1% By 2032: Fact.MR

Fact.MR, a provider of market research and competitive data, predict that it geriatric care services market will grow from a net worth of US$ 400 Million in 2020 to US$ 700 Million by the end of 2028.

The world's ageing population has grown dramatically, and this development has greatly enhanced the market potential for geriatric care services. This trend is also expected to last through 2028. Through 2028, it is predicted that the prevalence of chronic infectious diseases, increased government support, a focus on preventative healthcare, and advantageous reimbursement rules for elderly care would all have a significant impact on market expansion.

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Key pioneers
• Amedisys Incorporated
• Brookdale Senior Living Incorporated
• Extendicare Incorporated
• Genesis HealthCare Corporation
• Gentiva Health Services Incorporated
• GGNSC Holdings
• Home Instead Senior Care Incorporated
• Kindred Healthcare Incorporated
• Senior Care Centers of America
• Skilled Healthcare Group Incorporated
• Sunrise Senior Living Incorporated

Key Highlights

• The global geriatric care services market held a net worth of US$ 400 Mn in 2020.
• From 2021 to 2028, demand for geriatric care services is predicted to rise at a CAGR of 5.3%.
• By 2028, the geriatric care services market is anticipated to be valued at US$ 700 Mn.
• Increasing aging population, rising focus on geriatric care, and growing supportive initiatives from governments are expected to majorly drive geriatric care services market growth.
• Lack of geriatric care services in developing economies and high costs of these services are anticipated hinder market growth to some extent.
• North America is expected to lead the global geriatric care services market.

Winning Strategy

Market players are focusing on the establishment of new elder care facilities to serve the rising geriatric population across the world and this trend is expected to be prominent in the developing economies.

Geriatric care service providers are also focusing on advancing their offerings by integration of new advanced technologies to provide better services. Supportive government initiatives are also expected to favor the growth of the geriatric care services market players over the forecast period.

Key geriatric care service providers are focusing on the expansion of their coverage scope across regions by launching new services and institutions specifically focused on elderly care.

• In January 2022, Yodda Elder Care Technologies, a premium parent care company headquartered in India, announced the start of its emergency and healthcare services for the elderly who live independently in Hyderabad, India.

Industry Research

• by Type:

o Home Care
 Health Care
 Medical Care
 Physiotherapy Services
 Telehealth
 Palliative Care
 Hospice Care
 Non-medical Home Care
 Personal Care
 Home Making
 Meals and Grocery
 Rehabilitation
 Others
o Adult Day Care
 Health Care
 Non-Medical Care
o Institutional Care
 Nursing Homes
 Palliative Care
 Hospice Care
 Hospital-Based
 Assisted Living
 Independent Senior Living

• by Region:

o North America Geriatric Care Services Market
o Latin America Geriatric Care Services Market
o Europe Geriatric Care Services Market
o East Asia Geriatric Care Services Market
o South Asia & Oceania Geriatric Care Services Market
o MEA Geriatric Care Services Market

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About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That's why focus on offering insights that can actually make a difference to bottom-lines.

This release was published on openPR.