Geriatric Care Services Market Projected to Reach $1,479.04 Billion by 2028

The Business Research Company’s Geriatric Care Services Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 20, 2024 /EINPresswire.com/ -- The geriatric care services market size has shown strong growth in recent years, expanding from $1,007.33 billion in 2023 to $1,076.85 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. This growth can be attributed to an increase in disorders, increased government initiatives, an increasing geriatric population, an increasing prevalence of obesity, and a rising prevalence of chronic health conditions.

Growing Prevalence of Chronic Diseases Driving the Geriatric Care Services Market
The increasing prevalence of chronic diseases is expected to propel the growth of the geriatric care services market going forward. Chronic diseases refer to long-term health conditions that persist over an extended period, often requiring ongoing management and treatment as they are generally not curable. Chronic disease rates are rising due to several interconnected factors, such as an aging population, unhealthy lifestyles, and the accessibility and infrastructure of healthcare. Geriatric care services are essential in improving the quality of life for senior citizens with long-term medical conditions because they offer comprehensive, patient-centered care that takes into account their functional, psychological, and medical requirements.

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Major Players and Market Trends
Major companies operating in the geriatric care services market include Home Instead Senior Care Incorporated, Pfizer Inc., F. Hoffmann-La Roche AG, Merck & Co. Inc., Bristol-Myers Squibb Company, Allergan Inc., Regeneron Pharmaceuticals Inc., Quest Diagnostics Incorporated, Juniper Networks US, Genesis HealthCare Corporation, Kindred Healthcare Incorporated, Benesse Holdings Inc., Brookdale Senior Living Incorporated, Endo Pharmaceuticals Inc., Amedisys Incorporated, Sunrise Senior Living Incorporated, Active Day Inc., NMC ProVita International Medical Centre Ltd., Econ Healthcare Group, Living Assistance Services Inc., Rosewood Care Group Inc., St Luke's ElderCare Ltd., Epoch Elder Care Private Limited, LivHOME, GGNSC Holdings LLC.

Adoption of AI-Driven Assistants for Safety in the Geriatric Care Services Market
Major companies operating in the geriatric care services market are focusing on developing innovative technologies, such as AI-powered assistant services, to enable users to effectively care for the elderly. AI-driven assistants for elderly care are technology-based solutions that utilize artificial intelligence (AI) to support and enhance the well-being, health, and daily living activities of older adults.

Segments:
• By Type: Homecare, Healthcare, Institutional Care Centers, Non-Medical Health Care, Hospital-Based Care, Assisted Living, Independent Senior Living, Rehabilitative Care Services
• By Age Group: 65 To 70 Years, 70 To 75 Years, 75 To 80 Years, More Than 80 Years • By Application: Respiratory Diseases, Diabetes, Osteoporosis, Other Applications
• By End User: Institutional Care Services, Nursing Homes, Rehabilitation Centers, Hospitals

Geographical Insights: North America Leading the Market
North America was the largest region in the geriatric care services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the geriatric care services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Access the complete report for an in-depth analysis of the global geriatric care services market: https://www.thebusinessresearchcompany.com/report/geriatric-care-services-global-market-report

Geriatric Care Services Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Geriatric Care Services Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on geriatric care services market size, geriatric care services market drivers and trends, geriatric care services market major players, competitors' revenues, market positioning, and market growth across geographies. The geriatric care services market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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