The Geriatric Care Services Market is driven by factors such as the aging population demographic shift, increasing prevalence of chronic diseases and disabilities among older adults, changing healthcare preferences, advancements in geriatric medicine and technology, and government initiatives to improve elder care infrastructure and services. As older adults face complex health challenges and require specialized care, the demand for geriatric care services continues to grow, creating opportunities for innovative care delivery models and integrated healthcare solutions.

Geriatric Care Services market is estimated to attain a valuation of US$ 0.7 Bn by the end of 2028, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 5.3% during the forecast period, 2021-2028

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The significant players operating in the global Geriatric Care Services market are- Brookdale Senior Living, Inc., Extendicare, Inc., Genesis HealthCare Corp., Gentiva Health Services, Inc.

Key Drivers:

1. Aging Population Demographic Shift: The aging population demographic shift, driven by increased life expectancy and declining birth rates, has led to a significant rise in the number of older adults worldwide. As the elderly population grows, there is an escalating demand for geriatric care services to address age-related health issues, chronic conditions, and age-related disabilities.
2. Prevalence of Chronic Diseases: Older adults often experience multiple chronic conditions such as diabetes, cardiovascular diseases, arthritis, dementia, and respiratory disorders. The increasing prevalence of these chronic diseases among the elderly population necessitates comprehensive and specialized care services to manage symptoms, prevent complications, and improve quality of life.
3. Preference for Aging in Place: Many older adults express a preference for aging in place, remaining in their homes and communities for as long as possible. This trend has fueled the demand for home healthcare services, adaptive home modifications, assistive technologies, and community-based support programs that enable older adults to maintain independence and autonomy while receiving necessary care and assistance.
4. Advancements in Geriatric Medicine: Advances in geriatric medicine, interdisciplinary care models, and evidence-based interventions have improved the quality of geriatric care services and outcomes for older adults. Multidisciplinary teams comprising geriatricians, nurses, social workers, physical therapists, and other specialists collaborate to develop individualized care plans that address the complex needs of older patients.

Recent Developments:

1. Telehealth and Remote Monitoring: The COVID-19 pandemic has accelerated the adoption of telehealth and remote monitoring technologies in geriatric care, enabling virtual consultations, medication management, remote monitoring of vital signs, and tele-rehabilitation services. These innovations enhance access to care, reduce healthcare costs, and improve patient safety and convenience.
2. Person-Centered Care Models: There is a growing emphasis on person-centered care models in geriatric care, which prioritize older adults’ preferences, values, and goals in care planning and decision-making. Person-centered care promotes dignity, autonomy, and respect for individual preferences, fostering better patient-provider communication and engagement.
3. Integrated Care Coordination: Integrated care coordination models bring together healthcare providers, social services, community organizations, and informal caregivers to provide seamless and coordinated care for older adults across healthcare settings. These models aim to improve care transitions, prevent hospital readmissions, and optimize health outcomes for older patients with complex care needs.
4. Age-Friendly Communities: The concept of age-friendly communities, endorsed by the World Health Organization (WHO), promotes the creation of environments that support active aging, social inclusion, and accessibility for older adults. Age-friendly initiatives involve urban planning, housing design, transportation infrastructure, and community engagement efforts to address the diverse needs of older residents.

Market Segmentation –

• 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
• Adult Day Care
  • Health Care
  • Non-Medical Care
• Institutional Care
  • Nursing Homes
    • Palliative Care
    • Hospice Care
  • Hospital-Based
  • Assisted Living
  • Independent Senior Living

This Report lets you identify the opportunities in Geriatric Care Services Market by means of a region:

• North America (the United States, Canada, and Mexico)
• Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
• South America (Brazil etc.) The Middle East and Africa (North Africa and GCC Countries)

About Us Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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