Press release
Geriatric Medicines Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Geriatric Medicines
The escalating occurrences of health issues associated with aging is projected to stimulate the expansion of the geriatric medicines market. These age-related health issues are medical complications that become more frequent or severe as age progresses due to the natural aging process. The intensifying prevalence of such conditions is primarily influenced by longer life spans, improvements in healthcare, and an aging populace. Geriatric medications rectify these health conditions by offering specialized treatment for the elderly, thereby enhancing their life quality and healthcare outcomes. For instance, a report published by the Office for Health Improvement and Disparities (OHID), a government entity in the UK, showed that in 2023, 17.6% of individuals aged 16 years and above declared having endured a long-term musculoskeletal (MSK) condition like arthritis or constant problems with their back or joints. This indicates an upswing from the 17.0% prevalence in 2021. Thus, the mounting occurrences of age-related health conditions fuel the expansion of the geriatric medicines market.
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What growth opportunities are expected to drive the geriatric medicines market's CAGR through 2034?
In recent times, there has been a significant expansion in the size of the geriatric medicines market. The market, which was worth $1227.91 billion in 2024, is projected to reach a value of $1430.84 billion in 2025, reflecting a compound annual growth rate (CAGR) of 16.5%. Several factors contributed to this growth during the historical phase, including a higher incidence rate of stroke, escalation in the prevalence of chronic illnesses, an increase in cases of cardiovascular diseases, more support from government bodies, and a growing focus on individually tailored medicine.
The market for geriatric medicines is anticipated to witness a fast-paced growth in the coming years, reaching a valuation of $2604.86 billion by 2029, with a CAGR of 16.2%. This escalating growth during the forecast period can be credited to factors such as the growing number of health conditions related to aging, an increase in the elderly population, amplified healthcare spending, the upswing in geriatric medicine, and a rise in hypertension cases. Key trends for the mentioned period involve the employment of digital pills and health-related wearable devices, the creation of safe medication management strategies and tools, advancements in stem cell and gene therapy, extended usage of telehealth platforms, and progress in early detection and prevention of diseases associated with aging.
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What are the emerging trends shaping the future of the geriatric medicines market?
Leading corporations in the geriatric medicines sector are honing their focus on creating innovative diabetes therapies, spurring a response to the rising demand for efficient solutions catering to the elderly demographic. This approach to diabetes therapy incorporates resourceful treatments that uplift the standards of diabetes management, and even provide tentative cures that exceed conventional methods. This enhances performance, safety, and eventually, the results observed in patients. Illustratively, in August 2023, Akums Drugs & Pharmaceuticals Ltd., a contract manufacturing pharmaceutical enterprise based in India, publicized the release of an innovative combination therapy comprising Vildagliptin SR and Metformin SR. This distinctive formulation is devised to specifically address the care for Type 2 diabetes in aged patients, providing effective glycemic control. The therapy alleviates essential worries such as hypoglycemia and weight gain, critical considerations for this patient group. The combination of both medications fosters insulin secretion and decreases blood sugar levels effectively, affirming its safety and efficacy. Endorsement for this product has been granted by the Drug Controller General of India (DCGI).
Which growth-oriented segments of the geriatric medicines market are leading the industry's development?
The geriatric medicines market covered in this report is segmented -
1) By Therapeutics: Analgesics, Antihypertensive, Statins, Proton Pump Inhibitors, Anticoagulant, Antipsychotic, Other Therapeutics
2) By Condition: Cardiovascular, Arthritis, Neurological, Cancer, Osteoporosis, Respiratory, Other Conditions
3) By Route Of Administration: Oral, Parenteral, Other Routes Of Administration
4) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
Subsegments:
1) By Analgesics: Non-Opioid Analgesics (Acetaminophen, NSAIDs), Opioid Analgesics (Morphine, Oxycodone), Topical Analgesics (Lidocaine Patches)
2) By Antihypertensive: Angiotensin-Converting Enzyme (ACE) Inhibitors, Angiotensin II Receptor Blockers (ARBs), Beta-Blockers, Calcium Channel Blockers, Diuretics, Alpha-Blockers
3) By Statins: Atorvastatin, Simvastatin, Rosuvastatin, Pravastatin, Lovastatin
4) By Proton Pump Inhibitors: Omeprazole, Esomeprazole, Lansoprazole, Pantoprazole, Rabeprazole
5) By Anticoagulant: Warfarin, Direct Oral Anticoagulants (DOACs): Dabigatran, Rivaroxaban, Apixaban, Heparin
6) By Antipsychotic: Atypical Antipsychotics, Typical Antipsychotics
7) By Other Therapeutics: Antidepressants (SSRIs, SNRIs), Antidiabetic Medications (Insulin, Metformin), Anticonvulsants, Anti-Inflammatory Drugs (Corticosteroids), Cognitive Enhancers (Donepezil, Memantine)
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What regions are leading the charge in the geriatric medicines market?
North America was the largest region in the geriatric medicines market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the geriatric medicines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the geriatric medicines market?
Major companies operating in the geriatric medicines market are Pfizer Inc., Merck & Co. Inc., AbbVie Inc., Sanofi S.A., Bristol-Myers Squibb Company, Novartis AG, F. Hoffmann-La Roche AG, GlaxoSmithKline plc, Eli Lilly and Company, Viatris Inc., Teva Pharmaceutical Industries Ltd., Boehringer Ingelheim GmbH, Regeneron Pharmaceuticals Inc., Macleods Pharmaceuticals Ltd., Apotex Inc., Intas Pharmaceuticals Limited, Dr. Reddy's Laboratories, Lupin Limited, Biocon Limited, Torrent Pharmaceuticals Ltd., Endo Pharmaceuticals Inc.
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What Is Covered In The Geriatric Medicines Global Market Report?
•Market Size Forecast: Examine the geriatric medicines market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the geriatric medicines market for a structured understanding.
•Key Players Overview: Analyze major players in the geriatric medicines market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the geriatric medicines market.
•Segment Contributions: Evaluate how different segments drive overall growth in the geriatric medicines market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the geriatric medicines market.
•Industry Challenges: Identify potential risks and obstacles affecting the geriatric medicines market.
•Competitive Landscape: Review strategic developments in the geriatric medicines market, including expansions, agreements, and new product launches.
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