Geriatric Care Services Market 2022 Size, Growth Factors & Forecast Report to 2028

5 February 2020 - The global Geriatric Care Services Market size is estimated to reach USD 1,012.02 billion by 2022, registering at a 6.1% CAGR during the forecast period.

According to United Nations World Ageing Population 2015 report, it was estimated that between 2015 and 2030, the number of people aged 60 years and above will grow by 56 percent, from 901 million (2015) to 1.4 billion (2030).

In addition, growing demand for independent aging solutions and introduction of robotic technology in geriatric care is also anticipated to further boost up the market growth.Presence of favorable reimbursement policies and increased life expectancy are also amongst few factors expected to propel demand for geriatric care services.

Furthermore, increasing number of homecare and long term care services offered by geriatric care centers such as nursing care, health assessment & monitoring, and counseling & financial support is anticipated to drive the demand for these services.Request a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/geriatric-care-services-marketFavorable government initiatives and increasing elderly population prone to cardiovascular, orthopedic, neurological, and respiratory disorders are some of the crucial attributes of this market.

However, high cost of devices may hinder the growth of geriatric care services in emerging economies like China, India, and Brazil.Service InsightsBased on the services, the market is segmented as home care, adult day care, and institutional care.

Institutional services market held the largest market share of about 41.1% in 2014 pertaining to the factors such as presence of large number of institutions and high usage levels of the institutions offering geriatric care services.

Adroit Market Research launched a study titled, “North America Geriatric Care Services Market Size 2017 by Service Type (Home care, Adult Day Care and Institutional Care), by Country and Forecast 2018 to 2025”.

The study covers the North America geriatric care services market value for a period ranging between 2012 to 2025, where 2012 to 2017 imply the actual annual revenue with forecast between 2018 and 2025.The North America geriatric care services report also includes qualitative insights of the market such as drivers, restrains, PEST analysis and regulatory framework.Click to Continue Reading on https://www.adroitmarketresearch.com/industry-reports/north-america-geriatric-care-services-marketBy 2025, the North America geriatric care services market is expected to reach USD 421.6 billion, driven by increasing life expectancy in the region.

Rising advancements in technologies leading to the availability of improved healthcare services and advanced treatments alternatives is in turn increasing the life expectancy especially in the U.S.

Rising health awareness among people and the adverse medical events among the geriatric population is accelerating the growth of the North America geriatric care services market.The geriatric care service industry is comprised of home healthcare agencies, skilled nursing facilities, continuing care facilities, assisted living facilities and social services agencies.

The market will be growing at a substantial rate driven by the increased number of baby boomers entering the retirement years and the changing demographics of the country.

Most of the geriatric population require long term support and services including assistance with daily activities; for instance, dressing and bathing because of cognitive or physical impairment.On the basis of service type, geriatric care services market is segmented into home care, adult care and institutional care.

Industry InsightsThe global Geriatric Care Services Market size is estimated to reach USD 1,012.02 billion by 2022, registering at a 6.1% CAGR during the forecast period.

According to United Nations World Ageing Population 2015 report, it was estimated that between 2015 and 2030, the number of people aged 60 years and above will grow by 56 percent, from 901 million (2015) to 1.4 billion (2030).

In addition, growing demand for independent aging solutions and introduction of robotic technology in geriatric care is also anticipated to further boost up the market growth.Presence of favorable reimbursement policies and increased life expectancy are also amongst few factors expected to propel demand for geriatric care services.

Furthermore, increasing number of homecare and long term care services offered by geriatric care centers such as nursing care, health assessment & monitoring, and counseling & financial support is anticipated to drive the demand for these services.Favorable government initiatives and increasing elderly population prone to cardiovascular, orthopedic, neurological, and respiratory disorders are some of the crucial attributes of this market.

However, high cost of devices may hinder the growth of geriatric care services in emerging economies like China, India, and Brazil.Service InsightsBased on the services, the market is segmented as home care, adult day care, and institutional care.

Institutional services market held the largest market share of about 41.1% in 2014 pertaining to the factors such as presence of large number of institutions and high usage levels of the institutions offering geriatric care services.

The global Geriatric Care Services Market size is estimated to reach USD 1,012.02 billion by 2022, registering at a 6.1% CAGR during the forecast period.

According to United Nations World Ageing Population 2015 report, it was estimated that between 2015 and 2030, the number of people aged 60 years and above will grow by 56 percent, from 901 million (2015) to 1.4 billion (2030).

In addition, growing demand for independent aging solutions and introduction of robotic technology in geriatric care is also anticipated to further boost up the market growth.Presence of favorable reimbursement policies and increased life expectancy are also amongst few factors expected to propel demand for geriatric care services.

Furthermore, increasing number of homecare and long term care services offered by geriatric care centers such as nursing care, health assessment & monitoring, and counseling & financial support is anticipated to drive the demand for these services.Favorable government initiatives and increasing elderly population prone to cardiovascular, orthopedic, neurological, and respiratory disorders are some of the crucial attributes of this market.

However, high cost of devices may hinder the growth of geriatric care services in emerging economies like China, India, and Brazil.Download Sample Report @ https://www.millioninsights.com/industry-reports/geriatric-care-services-market/request-sampleBased on the services, the market is segmented as home care, adult day care, and institutional care.

Institutional services market held the largest market share of about 41.1% in 2014 pertaining to the factors such as presence of large number of institutions and high usage levels of the institutions offering geriatric care services.