The Geriatric Care Services Market encompasses a broad spectrum of healthcare and support services tailored to meet the unique needs of elderly individuals, addressing age-related health challenges, functional limitations, and quality of life concerns. Geriatric care services encompass medical care, long-term care, rehabilitation, social services, and supportive interventions designed to promote healthy aging, prevent functional decline, and optimize independence and well-being in older adults. These services are provided by multidisciplinary teams of healthcare professionals, caregivers, and community organizations, catering to the diverse needs of aging populations worldwide.
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.
Market Drivers:
- Aging Population Demographics: The Geriatric Care Services Market is driven by demographic trends, including population aging and the rising proportion of elderly individuals globally. As life expectancy increases and birth rates decline, the elderly population grows, leading to higher demand for geriatric care services, age-appropriate healthcare interventions, and supportive resources for older adults and their families.
- Prevalence of Chronic Diseases: Chronic diseases and age-related health conditions, such as cardiovascular disease, diabetes, arthritis, dementia, and neurodegenerative disorders, are prevalent among elderly populations, necessitating specialized geriatric care services for disease management, symptom control, and functional preservation. Geriatricians, primary care providers, and specialized care teams collaborate to address complex health needs and comorbidities in older adults, emphasizing preventive care, chronic disease management, and palliative care approaches.
- Long-Term Care and Rehabilitation Needs: Older adults may require long-term care and rehabilitation services due to age-related disabilities, functional impairments, or cognitive decline. Geriatric care facilities, nursing homes, assisted living communities, and rehabilitation centers offer comprehensive care programs, rehabilitation therapies, and supportive services to help seniors maintain functional independence, regain mobility, and optimize quality of life following acute illness, injury, or surgery.
- Geriatric Mental Health and Social Services: Mental health disorders, social isolation, and psychosocial challenges are common among elderly populations, necessitating specialized geriatric mental health services, counseling, and social support interventions. Geriatric psychiatrists, psychologists, social workers, and community-based organizations provide mental health screenings, cognitive assessments, psychotherapy, and social engagement programs to address mental health needs, enhance social connections, and promote emotional well-being in older adults.
Recent Developments:
- Integrated Care Models: Recent developments in geriatric care focus on integrated care models that coordinate medical, social, and supportive services to meet the comprehensive needs of older adults across care settings. Geriatric care teams collaborate with primary care providers, specialists, home health agencies, and community-based organizations to deliver holistic, person-centered care, improve care transitions, and prevent unnecessary hospitalizations or institutionalizations.
- Technology-enabled Geriatric Care: Digital health technologies, telemedicine platforms, remote monitoring devices, and wearable sensors offer opportunities for remote assessment, virtual consultations, and telehealth interventions in geriatric care. Telemedicine services, telegeriatrics, and remote patient monitoring enable older adults to access healthcare services, receive medical advice, and engage in care management activities from the comfort of home, promoting aging in place and reducing healthcare disparities.
- Person-Centered Care Approaches: Person-centered care principles emphasize the importance of individual preferences, values, and goals in geriatric care decision-making and care planning. Geriatric care providers adopt a holistic approach that respects patient autonomy, dignity, and cultural beliefs, tailoring care interventions to meet the unique needs and priorities of each older adult, fostering trust, collaboration, and mutual respect in the care relationship.
- Caregiver Support Programs: Geriatric care services extend beyond direct patient care to include support services and resources for family caregivers, informal caregivers, and care partners involved in the care of older adults. Caregiver support programs offer education, respite care, counseling, and peer support networks to help caregivers manage caregiver stress, burnout, and emotional challenges associated with caregiving responsibilities, enhancing caregiver well-being and caregiving outcomes.
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
- Health Care
- Adult Day Care
- Health Care
- Non-Medical Care
- Institutional Care
- Nursing Homes
- Palliative Care
- Hospice Care
- Hospital-Based
- Assisted Living
- Independent Senior Living
- Nursing Homes
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)
Key Features of the Geriatric Care Services Market Report: –
➤ Analyze competitive developments such as expansions, deployments, new product launches, and market acquisitions.
➤ Examine the market opportunities for stakeholders by identifying higher growth sections.
➤ To study and analyze the global Geriatric Care Services industry status and forecast including key regions.
➤ An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.
➤ It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter’s Five Forces analysis to provide a deeper understanding of the market.
➤ It helps you make strategic business decisions and investment plans.
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.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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