Geriatric Care Services Market Landscape: Trends, Competitors, and Growth Opportunities 2023-2028

IMARC Group's latest research report, titled "Geriatric Care Services Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," The global geriatric care services market size reached US$ 1,084 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,682 Billion by 2028. exhibiting a growth rate CAGR of 7.3% during 2023-2028.

Geriatric Care Services Industry Outlook:

Geriatric care services refer to comprehensive support and care specifically designed to cater to the unique needs of the elderly population. This involves a wide array of services, including medical care, nursing care, physical therapy, nutrition management, and daily living assistance. Geriatric care aims to enhance the quality of life, maintain independence, and manage chronic health conditions for older individuals. It includes specialized healthcare professionals, such as geriatricians, nurses, therapists, and social workers, who coordinate to create a personalized care plan. These services are vital in various settings, including hospitals, nursing homes, assisted living facilities, and home-based care. The aging global population and the growing need for specialized care tailored to the elderly, geriatric care services are becoming an indispensable part of healthcare systems around the world.

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Key Players Included in Global Geriatric Care Services Market Research Report:

• Amedisys Inc.
• Brookdale Senior Living Inc.
• Econ Healthcare Group
• Extendicare Inc.
• Genesis HealthCare
• Home Instead Inc. (Honor Technology Inc.)
• Kindred Healthcare
• Portea Medical
• Revera Inc.
• Rosewood Care Group Inc.
• Sunrise Senior Living LLC.

Geriatric Care Services Market Growth:

The global geriatric care services market is witnessing significant growth, driven by the increasing aging population worldwide, coupled with a rise in chronic illnesses typically associated with old age. Additionally, the accelerating awareness regarding the importance of specialized care for the elderly and the rising disposable income in many regions are propelling the market forward. Along with this, government initiatives and funding towards elderly care, as well as advancements in medical technology, are further enhancing the availability and quality of geriatric care services. In addition, the emerging trend towards home-based care, offering comfort and personalized attention, is also favoring market expansion.

Apart from this, collaboration between healthcare providers, technology companies, and care facilities is fostering innovation and integration of new methodologies in geriatric care. In confluence with this, the growing emphasis on preventive care and wellness programs tailored for the elderly is influencing the market positively. Furthermore, the shift towards patient-centric care models, incorporating mental and emotional well-being, adds another layer to the comprehensive approach in geriatric care.

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Key Market Segmentation:

• Home Care
• Adult Day Care
• Institutional Care

Breakup by Payment Source:

• Public Insurance
• Private Insurance
• Out-of-pocket
• Others

Breakup by Application:

• Respiratory Diseases
• Diabetes
• Heart Diseases
• Neurological Diseases
• Kidney Diseases
• Cancer
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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