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Global Geriatric Care Services Market: By Services Type: Home Care Services, Adult Care Services, Institutional Care Services; By Payment Type: Public Insurance, Private Insurance, Others; By Applications: Respiratory Diseases, Diabetes, Heart Diseases, Kidney Diseases, Others; Regional Analysis; Supplier Landscape; 2024-2032
Global Geriatric Care Services Market Outlook
The global geriatric care services market attained a value of USD 1071.7 billion in 2023, driven by the increasing aging population and rising demand for specialized healthcare services for the elderly across the globe. The market size is forecasted to grow at a CAGR of 6.5% during the forecast period of 2024-2032 to achieve a value of USD 1885.9 billion by 2032.
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Ageing Global Population, Ailments Affecting the Elderly, Lack of Geriatric Care Personnel and Facilities Drive Demand
Populations across the globe are ageing rapidly, and such a demographic change would impact almost every societal aspect. Currently, the world has over 1 billion people above 60 years of age; most of which live in low- and middle-income nations. Majority of these people lack access to basic necessities of life, while several others face numerous challenges restricting their participation in society. The COVID-19 pandemic has intensified challenges in providing services to the ageing population. It is estimated that the number of people aged 65 or above would rise from nearly 524 million in 2010 to nearly 1.5 billion in 2050. Developing nations would witness most such increase.
During the early 20th century, major health challenges included parasitic and infectious diseases that proved fatal for infants and children. In this day and age, however, diseases such as diabetes, cancer, heart-disease etc. are major causes of concern, and these more commonly affect adults and older people. Some diseases such as Alzheimer’s Disease (AD), a form of dementia, largely affects only the elderly. According to recent estimates, the number of people living with AD/dementia across the world stands somewhere between 27 million and 36 million. While the incidence of AD is low at younger ages, it nearly doubles with every five years of age after the age of sixty-five.
In the US, people aged 65 and above accounted for 16% of the population in 2019, but this number is expected to rise to stand at over 21.5% of the population by 2040. In the US alone, the population aged 85 and above is expected to rise by nearly 118%, from 6.6 million in 2019 to 14.4 million in 2040 (a 118% increase). In 2019, 22.3% of American people falling between the 65 to 74 age-group evaluated their health as fair or poor as compared to 29.3% of the population aged 75 and above. Further, majority of older Americans had at least one chronic ailment while several had many such conditions. In the Finger Lakes region, healthcare costs are expected to grow by over 17.5% by 2025. Further, there is a lack of geriatric physicians, nurses, social workers and other allied professionals to meet healthcare challenges related to elderly care.
Developed as well as Developing Nations to See Greater Demand for Services
Countries like Belgium offer well-developed systems for the elderly in need of long-term care. However, as the population continues to age, Belgium is expected to face more demand for long term care for the elderly. According to a model developed by the Federal Planning Bureau, 149,000 to 177,000 beds would be needed in 2025. After 2025, the increase in need is projected to accelerate further.
In India, the number of the elderly has been rising rapidly, and this trend is expected to continue in following decades. Those aged above 60 are projected to increase from over 7.5% percent in 2015 to nearly 19 percent in 2050.
The overall population of India is expected to grow by over 55% while those above the age of 60 would increase by over 325 percent. During the same time, the population aged over 80 would grow nearly 700% percent; such population will be dominated by widowed and highly dependent very old women. Such elderly women would require significant attention and care.
Geriatric care services are expected to be in high demand both developed and developing nations on account of a rapidly ageing population and its medical and psychological needs. Additionally, the various schemes and initiatives by governments for care of the elderly in developed and developing countries are expected to stimulate growth of healthcare, wellness, and insurance firms. At the same time, the sector faces several challenges, especially in those nations that are relatively poor and less developed. Providing quality elderly care warrants superior infrastructure, spending and citizen welfare schemes and facilities, which poorer nations are unable to afford.
Geriatric Care Services Definition and Market Segmentation
Geriatric care services refer to facilities providing medical care for elderly people. Modern definitions of geriatric care have come to include, in addition to medical care and needs, the social and psychological needs of the elderly.
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According to type, the market is segmented into:
- Homecare
- Adult Daycare
- Institutional Care
By region, the market is segmented into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Industry Players in the Global Geriatric Care Services Market
The report presents a detailed analysis of the following key players in the market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Brookdale Senior Living Inc.
- Extendicare Inc.
- Gentiva Health Services Inc.
- Genesis Healthcare, Inc.
- Sunrise Senior Living Inc.
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Services Type |
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| Breakup by Payment Type |
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| Breakup by Applications |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Geriatric Care Services Market Overview
3.1 Global Geriatric Care Services Market Historical Value (2017-2023)
3.2 Global Geriatric Care Services Market Forecast Value (2024-2032)
4 Global Geriatric Care Services Market Landscape
4.1 Global Geriatric Care Services Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Geriatric Care Services Product Landscape
4.2.1 Analysis by Services
4.2.2 Analysis by Payment Type
4.2.3 Analysis by Applications
5 Global Geriatric Care Services Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Geriatric Care Services Market Segmentation
6.1 Global Geriatric Care Services Market by Services Type
6.1.1 Market Overview
6.1.2 Home Care Services
6.1.2.1 Health Care
6.1.2.1.1 Medical Care
6.1.2.1.2 Physiotherapy Services
6.1.2.1.3 Telehealth
6.1.2.1.4 Palliative Care
6.1.2.1.5 Hospice Care
6.1.2.2 Non-Medical Home Care
6.1.2.2.1 Personal Care
6.1.2.2.2 Home Making
6.1.2.2.3 Meals And Grocery
6.1.2.2.4 Rehabilitation
6.1.2.2.5 Others
6.1.3 Adult Care Services
6.1.3.1 Health Care
6.1.3.2 Non-Medical Care
6.1.4 Institutional Care Services
6.1.4.1 Nursing Homes
6.1.4.1.1 Palliative Care
6.1.4.1.2 Hospice Care
6.1.4.2 Hospital-Based
6.1.4.3 Assisted Living
6.1.4.4 Independent Senior Living
6.2 Global Geriatric Care Services Market by Payment Type
6.2.1 Market Overview
6.2.2 Public Insurance
6.2.3 Private Insurance
6.2.4 Others
6.3 Global Geriatric Care Services Market by Applications
6.3.1 Market Overview
6.3.2 Respiratory Diseases
6.3.3 Diabetes
6.3.4 Heart Diseases
6.3.5 Kidney Diseases
6.3.6 Neurological Diseases
6.3.7 Cancer
6.3.8 Others
6.4 Global Geriatric Care Services Market by Region
6.4.1 Market Overview
6.4.2 North America
6.4.3 Europe
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Geriatric Care Services Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Geriatric Care Services Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Geriatric Care Services Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Geriatric Care Services Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Geriatric Care Services Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Brookdale Senior Living Inc.
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Extendicare Inc.
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Gentiva Health Services Inc
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Kindred Healthcare Inc.
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Senior Care Centers of America
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 Sunrise Senior Living Inc.
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 Genesis Healthcare Corp.
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 Home Instead Senior Care Inc.
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 GGNSC Holdings, LLC
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
18 Global Geriatric Care Services Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
In 2023, the global market of geriatric care services attained a value of USD 1071.7 billion.
The market is anticipated to grow at a CAGR of 6.5% during the forecast period of 2024-2032 to reach a value of USD 1885.9 billion by 2032.
The major drivers of the market include the globally ageing population, favourable government policies and schemes for the elderly, increasing healthcare awareness, and increasing prevalence of chronic diseases including cancer, tuberculosis, and others.
The increasing government funding towards the development of day care centres and geriatric care units is expected to be a key trend guiding the growth of the industry.
The major regions in the industry are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Homecare, adult daycare, and institutional care are the different types of geriatric care services.
The major players in the industry are Brookdale Senior Living Inc., Extendicare Inc., Gentiva Health Services Inc., Genesis Healthcare, Inc., and Sunrise Senior Living Inc., among others.
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