18-Jun-2020 | Facts and Factors
According to the Facts and Factors report, the global geriatric care services market size was worth around USD 300 billion in 2022 and is predicted to grow to around USD 485 billion by 2030 with a compound annual growth rate (CAGR) of roughly 7.10% between 2023 and 2030.
Geriatric care programs also referred to as the management of elderly care, are a means of preparing, managing and organizing appropriate treatment for elderly people with mental and physical disabilities in order to improve their overall quality of life, meet their long-term health needs and maintain their independence for as long as possible. It includes working with geriatric individuals and their families on the development, management and comparison of different types of social and health services.
Geriatric care services also include health and psychological treatment with other resources needed, such as home care services, socialization programs, dietary services, financial and legal preparation, and guidance on day-to-day activities. There are three main categories of geriatric care facilities, including nursing, adult day care and hospital care.
Browse the full “Geriatric Care Services Market By Application(Medical, Personal Care, Industrial, and Others): North America Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/north-america-geriatric-care-servicesmarket-by-applicationmedical-personal-1214
Demand for geriatric care facilities across North America is experiencing lively opportunities due to increased consumer demand and the availability of capital income combined with rapid economic growth, particularly in Canada. In addition, the growing number of adult daycare centers as well as increasing expenditure through governments of different economies, especially in the setting up of adult daycare centers, are some of the other key aspects that drive market growth. Growing life expectancy and growing geriatric population are also expected to further boost the increase.
One of the main drivers of increasing global demand for geriatric care services is the ever-increasing population of geriatricians. Due to a lower water content, spinal processes and other soft tissues are susceptible to strain with increasing age. It causes joints to be cushioned in tandem with other health problems. In turn, the heart, kidneys, lungs and other organs of the body are becoming low, increasing demand for nursing services. Volatile reimbursement schemes, however, may be a significant factor that hinders overall business growth. Increased numbers of professional women are also increasing the demand for effective senior care services, especially in the United States.
Report Scope
Report Attribute |
Details |
Market Size in 2022 |
USD 300 Billion |
Projected Market Size in 2030 |
USD 485 Billion |
CAGR Growth Rate |
7.10% CAGR |
Base Year |
2022 |
Forecast Years |
2023-2030 |
Key Market Players |
Genesis Healthcare Corp, OneExchange & Cigna, Gentiva Health services, Aetna, Colonial Life, MetLife Inc., Home Instead Senior Care Inc., Aflac, AXA, and Others |
Key Segment |
By Type, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Some of the leading players in the global market include
Genesis Healthcare Corp, OneExchange & Cigna, Gentiva Health services, Aetna, Colonial Life, MetLife Inc., Home Instead Senior Care Inc., Aflac, AXA, and Others.
This report segments the North America Geriatric Care Services market as follows:
By Type Segmentation Analysis
- Home Care
- Adult Care
- Institutional Care
By Regional Segmentation Analysis
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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