Geriatric Care Services Market
Geriatric Care Services Market Analysis By Type (Home Care, Adult Day Care, Institutional Care), and Region - Global Market Insights 2023 to 2033
Analysis of Geriatric Care Services Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Geriatric Care Services Market Outlook (2023 to 2033)
The global geriatric care services market is valued at US$ 468.5 million in 2023 and is forecasted to exhibit expansion at a healthy CAGR of 6.1% over the next ten years. This Fact.MR study predicts global demand for geriatric care services to reach a market revenue of US$ 850 million by the end of 2033.
Aging is becoming a global issue gradually and the number of aged people living in the world is projected to rise at a notable pace over the coming years. An increasing aging population can hurt a country’s economic growth if not managed properly and this is a key factor that is slated to bolster demand for geriatric care services going forward.
- As per statistics provided by the World Health Organization (WHO), by the end of 2030, 1 in 6 people are expected to be aged 60 years or more. Predictions also depict that 80% of the senior population would be living in low and middle-income countries by 2050.
Increasing focus on aging care services, supportive government initiatives, changing preferences of elderly people regarding assisted living facilities, the frequent launch of novel assistive technologies, and growing integration of technology to improve the quality of adult care services are other vital factors that could augment the demand for geriatric care services over the next ten years.
Surging prevalence of chronic diseases and lifestyle disorders is also expected to contribute to the rising demand for geriatric care throughout the forecast period. However, the high costs of elderly care services are projected to restrict market growth potential to a certain extent in the future. The dearth of skilled caregivers is also a major challenge that adult care service providers will have to overcome through 2033.
An elaborative assessment of local supply, product standards, safety regulations, and other influential aspects has been discussed extensively in this recently updated geriatric care services market research study by Fact.MR, a market research and competitive intelligence provider.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 468.5 Million |
| Projected Market Value (2033F) | US$ 850 Million |
| Global Market Growth Rate (2023 to 2033) | 6.1% CAGR |
| Authoritative Regional Market | North America |
| Key Companies Profiled | Amedisys Incorporated; Brookdale Senior Living Incorporated; Extendicare Incorporated; Genesis HealthCare Corporation; Gentiva Health Services Incorporated; GGNSC Holdings; Home Instead Senior Care Incorporated; Kindred Healthcare Incorporated; Senior Care Centers of America; Skilled Healthcare Group Incorporated; Sunrise Senior Living Incorporated |
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How Can New Companies Push the Boundaries of Geriatric Care Services?
“Integration of Technology – Paving the Road to Riches”
Connected healthcare solutions and integration of advanced technologies in geriatric care settings to create a more comfortable living situation for the elderly are expected to be popular trends that geriatric care service start-ups should focus on going forward. Innovative approaches to adult care services and home geriatric care are also areas of opportunity for upcoming geriatric care service providers through 2033.
- Birdie, a London-based care platform helps the elderly to live independently in their homes by tracking their wellness through connected devices and applications. The company’s products are also capable of predicting risk and altering concerned caregivers in time to ensure proper medical assistance is facilitated.
- Luvozo PBC, a United States-based company is focused on the development of new technology to make the lives of seniors easier and improve their quality of life. The company uses robotics to help seniors with disabilities living in long-term care facilities and their homes.
- CarePredict, a Californian organization is offering a wrist-worn bracelet that is capable of detecting activities of daily living called Tempo. The product uses artificial intelligence algorithms to sense activities such as walking, eating, bathing, brushing, etc., and can communicate wirelessly through beacons that lead to the room where the activity is being performed.
An elaborative account of the current and forecasted start-up scenario on a global and regional level has been exclusively discussed in this latest geriatric care services research study by skilled analysts at Fact.MR.
Country-wise Insights
What Makes Japan an Extremely Profitable Market for Geriatric Care Service Providers?
“High Senescent Population Sets the Tone for Moneymaking Opportunities”
Japan has been battling its rapidly aging population for the past couple of decades and this is a major trend that has been shaping different aspects of several industry verticals in the country.
- As per an article by the Japan Times published in September 2022, people aged over 75 accounted for 15% of the total population of Japan for the first time. The number of people aged above 65 accounted for 29.1% of the total population at the same time.
The government of Japan has been launching new initiatives to take care of its rapidly increasing geriatric population and this is projected to attract new geriatric care service providers to the country in the future. Established as well as incoming geriatric care service companies are expected to invest in Japan citing its surging senescent population going forward.
- In January 2023, MBK Partners, a private equity firm based in Korea, announced the acquisition of a Japanese elderly care service company called Unimat Retirement Community Co (URC). It was estimated that MBK spent over US$ 300 million to acquire the company and this effort was part of its efforts to capitalize on the high growth potential for elderly care in Japan.
Why Do Geriatric Care Service Companies Need No Persuasion to Invest in the United States?
“Preference of Elder People to Live Alone - Clear Reason for Increased Investments”
Just like the rest of the world, the senescent population in the United States is also rising and this is projected to primarily influence demand for geriatric care services over the coming years. Elder people in the United States have been preferring to stay alone in the comfort of their own homes rather than spend their last few years in nursing homes or old age homes. This factor has led to the increased popularity of home geriatric care in the country and is slated to boost market growth through 2033.
- As per an article published on aPlaceforMom, almost 1/3 of the elderly population in the United States was living by themselves at the start of 2022.
High healthcare expenditure, the increasing aging population, the growing availability of novel elderly assistive technologies, and supportive government initiatives to provide preventive care services for the geriatric population are other aspects that could sculpt the market potential in the United States over the coming years. Private geriatric care services are projected to exhibit immense growth potential in the country by the end of the forecast period.
How Will Geriatric Care Demand Evolve in European Countries?
“Adult Care Demand to Witness Steady Growth Across Europe”
The number of elderly people in European countries has been increasing steadily just as anywhere else in the world. Increasing life expectancy and dropping fertility rates are key factors that are resulting in a higher senescent population and promoting the demand for aging care services in the European region.
Italy, Finland, Portugal, and Greece are anticipated to be the most lucrative markets in this region for new as well as established senior care service providers over the next ten years and beyond.
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Category-wise Insights
Emphasis on Which Type of Elderly Care Will Inflate?
“Home Care to Provide Attractive Capital Gains”
Based on type, the geriatric care services market is segmented into home care, adult day care, and institutional care.
The reluctance of the senior population to stay at assisted living facilities and old age homes has resulted in the surging popularity of home geriatric care services, which is slated to have a bright outlook in the future. Favourable initiatives to promote independent living for the elderly and the growing availability of in-home senior care services around the world are also expected to uplift the demand for geriatric care services across the forecast period.
The frequent launches of novel active technologies for the elderly and elderly care apps around the world are also projected to favour geriatric care service demand over the next ten years.
Competitive Landscape
Prime geriatric care service providers are focusing on collaborations, partnerships, and mergers to expand their business scope and offer better adult care services for people.
- In April 2021, Genesis Rehabilitation Services India (GSRI), announced its partnership with Healthcare at Home India (HCAH) to improve homecare services for the elderly in the country. The companies were expected to leverage each other’s expertise in senior care and maximize their business scope in the Indian marketplace.
Additional information about new developments by top geriatric care service companies such as Amedisys Incorporated, Brookdale Senior Living Incorporated, Extendicare Incorporated, etc., and how they influence aspects such as product standards and pricing trends, have been examined closely in this latest Fact.MR research analysis.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Key Segments of Geriatric Care Services Industry Research
-
By Type :
- Home Care
- Health Care
- Medical Care
- Physiotherapy Services
- Telehealth
- Palliative Care
- Hospice Care
- Non-medical Home Care
- Personal Care
- Home Making
- Meals & Groceries
- 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
- Home Care
-
By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Market Outlook, by Region
- 4. Market Trend Analysis, 2023 to 2033
- 5. Global Market Analysis and Forecast, by Type, 2023 to 2033
- 5.1. Home Care
- 5.2. Adult Day Care
- 5.3. Institutional Care
- 6. Global Market Analysis and Forecast, by Region, 2023 to 2033
- 6.1. North America
- 6.2. Europe
- 6.3. Asia Pacific
- 6.4. Middle East & Africa
- 6.5. Latin America
- 7. North America Market Analysis and Forecast, 2023 to 2033
- 8. Europe Market Analysis and Forecast, 2023 to 2033
- 9. Asia Pacific Market Analysis and Forecast, 2023 to 2033
- 10. Latin America Market Analysis and Forecast, 2023 to 2033
- 11. Middle East & Africa Market Analysis and Forecast, 2023 to 2033
- 12. Competition Landscape
- 12.1. Amedisys Incorporated
- 12.2. Brookdale Senior Living Incorporated
- 12.3. Extendicare Incorporated
- 12.4. Genesis HealthCare Corporation
- 12.5. Gentiva Health Services Incorporated
- 12.6. GGNSC Holdings
- 12.7. Home Instead Senior Care Incorporated
- 12.8. Kindred Healthcare Incorporated
- 12.9. Senior Care Centers of America
- 12.10. Skilled Healthcare Group Incorporated
- 12.11. Sunrise Senior Living Incorporated
- 13. Assumptions & Acronyms Used
- 14. Research Methodology
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List Of Table
Table 1: Global Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 2: Global Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 3: Global Market Value (Mn) Analysis, 2023 to 2033
Table 4: Global Market Value (Mn) Analysis, 2023 to 2033
Table 5: Global Market Value (Mn) Forecast, by Region, 2023 to 2033
Table 6: Global Market Value (Mn) Forecast, by Region, 2023 to 2033
Table 7: North America Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 8: North America Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 9: North America Market Value (Mn) Analysis, 2023 to 2033
Table 10: North America Market Value (Mn) Analysis, 2023 to 2033
Table 11: North America Market Value (Mn) Forecast, by Country, 2023 to 2033
Table 12: North America Market Value (Mn) Forecast, by Country, 2023 to 2033
Table 13: U.S. Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 14: U.S. Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 15: U.S. Market Value (Mn) Analysis, 2023 to 2033
Table 16: U.S. Market Value (Mn) Analysis, 2023 to 2033
Table 17: Canada Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 18: Canada Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 19: Canada Market Value (Mn) Analysis, 2023 to 2033
Table 20: Canada Market Value (Mn) Analysis, 2023 to 2033
Table 21: Europe Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 22: Europe Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 23: Europe Market Value (Mn) Analysis, 2023 to 2033
Table 24: Europe Market Value (Mn) Analysis, 2023 to 2033
Table 25: Europe Market Value (Mn) Forecast, by Country and Sub-region, 2023 to 2033
Table 26: Europe Market Value (Mn) Forecast, by Country and Sub-region, 2023 to 2033
Table 27: Germany Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 28: Germany Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 29: Germany Market Value (Mn) Analysis, 2023 to 2033
Table 30: Germany Market Value (Mn) Analysis, 2023 to 2033
Table 31: U.K. Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 32: U.K. Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 33: U.K. Market Value (Mn) Analysis, 2023 to 2033
Table 34: U.K. Market Value (Mn) Analysis, 2023 to 2033
Table 35: France Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 36: France Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 37: France Market Value (Mn) Analysis, 2023 to 2033
Table 38: France Market Value (Mn) Analysis, 2023 to 2033
Table 39: Italy Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 40: Italy Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 41: Italy Market Value (Mn) Analysis, 2023 to 2033
Table 42: Italy Market Value (Mn) Analysis, 2023 to 2033
Table 43: Spain Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 44: Spain Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 45: Spain Market Value (Mn) Analysis, 2023 to 2033
Table 46: Spain Market Value (Mn) Analysis, 2023 to 2033
Table 47: Russia & CIS Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 48: Russia & CIS Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 49: Russia & CIS Market Value (Mn) Analysis, 2023 to 2033
Table 50: Russia & CIS Market Value (Mn) Analysis, 2023 to 2033
Table 51: Rest of Europe Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 52: Rest of Europe Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 53: Rest of Europe Market Value (Mn) Analysis, 2023 to 2033
Table 54: Rest of Europe Market Value (Mn) Analysis, 2023 to 2033
Table 55: Asia Pacific Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 56: Asia Pacific Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 57: Asia Pacific Market Value (Mn) Analysis, 2023 to 2033
Table 58: Asia Pacific Market Value (Mn) Analysis, 2023 to 2033
Table 59: Asia Pacific Market Value (Mn) Forecast, by Country and Sub-region, 2023 to 2033
Table 60: Asia Pacific Market Value (Mn) Forecast, by Country and Sub-region, 2023 to 2033
Table 61: China Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 62: China Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 63: China Market Value (Mn) Analysis, 2023 to 2033
Table 64: China Market Value (Mn) Analysis, 2023 to 2033
Table 65: Japan Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 66: Japan Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 67: Japan Market Value (Mn) Analysis, 2023 to 2033
Table 68: Japan Market Value (Mn) Analysis, 2023 to 2033
Table 69: India Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 70: India Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 71: India Market Value (Mn) Analysis, 2023 to 2033
Table 72: India Market Value (Mn) Analysis, 2023 to 2033
Table 73: ASEAN Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 74: ASEAN Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 75: ASEAN Market Value (Mn) Analysis, 2023 to 2033
Table 76: ASEAN Market Value (Mn) Analysis, 2023 to 2033
Table 77: Rest of Asia Pacific Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 78: Rest of Asia Pacific Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 79: Rest of Asia Pacific Market Value (Mn) Analysis, 2023 to 2033
Table 80: Rest of Asia Pacific Market Value (Mn) Analysis, 2023 to 2033
Table 81: Latin America Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 82: Latin America Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 83: Latin America Market Value (Mn) Analysis, 2023 to 2033
Table 84: Latin America Market Value (Mn) Analysis, 2023 to 2033
Table 85: Latin America Market Value (Mn) Forecast, by Country and Sub-region, 2023 to 2033
Table 86: Latin America Market Value (Mn) Forecast, by Country and Sub-region, 2023 to 2033
Table 87: Brazil Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 88: Brazil Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 89: Brazil Market Value (Mn) Analysis, 2023 to 2033
Table 90: Brazil Market Value (Mn) Analysis, 2023 to 2033
Table 91: Mexico Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 92: Mexico Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 93: Mexico Market Value (Mn) Analysis, 2023 to 2033
Table 94: Mexico Market Value (Mn) Analysis, 2023 to 2033
Table 95: Rest of Latin America Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 96: Rest of Latin America Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 97: Rest of Latin America Market Value (Mn) Analysis, 2023 to 2033
Table 98: Rest of Latin America Market Value (Mn) Analysis, 2023 to 2033
Table 99: Middle East & Africa Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 100: Middle East & Africa Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 101: Middle East & Africa Market Value (Mn) Analysis, 2023 to 2033
Table 102: Middle East & Africa Market Value (Mn) Analysis, 2023 to 2033
Table 103: Middle East & Africa Market Value (Mn) Forecast, by Country and Sub-region, 2023 to 2033
Table 104: Middle East & Africa Market Value (Mn) Forecast, by Country and Sub-region, 2023 to 2033
Table 105: GCC Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 106: GCC Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 107: GCC Market Value (Mn) Analysis, 2023 to 2033
Table 108: GCC Market Value (Mn) Analysis, 2023 to 2033
Table 109: South Africa Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 110: South Africa Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 111: South Africa Market Value (Mn) Analysis, 2023 to 2033
Table 112: South Africa Market Value (Mn) Analysis, 2023 to 2033
Table 113: Rest of Middle East & Africa Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 114: Rest of Middle East & Africa Market Value (Mn) Forecast, by Type, 2023 to 2033
Table 115: Rest of Middle East & Africa Market Value (Mn) Analysis, 2023 to 2033
Table 116: Rest of Middle East & Africa Market Value (Mn) Analysis, 2023 to 2033
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List Of Figures
Figure 1: Global Market Price Trend, by Region, 2023 to 2033 (US$/Ton)
Figure 2: Global Market Value Share, by Type, 2018, 2022, and 2033
Figure 3: Global Market Attractiveness, by Type
Figure 4: Global Market Value Share, Analysis, 2018, 2022, and 2033
Figure 5: Global Market Attractiveness, Analysis
Figure 6: Global Market Value Share, by Region, 2018, 2022, and 2033
Figure 7: Global Market Attractiveness, by Region
Figure 8: North America Market Value Share, by Type, 2018, 2022, and 2033
Figure 9: North America Market Attractiveness, by Type
Figure 10: North America Market Value Share, Analysis, 2018, 2022, and 2033
Figure 11: North America Market Attractiveness, Analysis
Figure 12: North America Market Value Share, by Country, 2018, 2022, and 2033
Figure 13: North America Market Attractiveness, by Country
Figure 14: Europe Market Value Share, by Type, 2018, 2022, and 2033
Figure 15: Europe Market Attractiveness, by Type
Figure 16: Europe Market Value Share, Analysis, 2018, 2022, and 2033
Figure 17: Europe Market Attractiveness, Analysis
Figure 18: Europe Market Value Share, by Country and Sub-region, 2018, 2022, and 2033
Figure 19: Europe Market Attractiveness, by Country and Sub-region
Figure 20: Asia Pacific Market Value Share, by Type, 2018, 2022, and 2033
Figure 21: Asia Pacific Market Attractiveness, by Type
Figure 22: Asia Pacific Market Value Share, Analysis, 2018, 2022, and 2033
Figure 23: Asia Pacific Market Attractiveness, Analysis
Figure 24: Asia Pacific Market Value Share, by Country and Sub-region, 2018, 2022, and 2033
Figure 25: Asia Pacific Market Attractiveness, by Country and Sub-region
Figure 26: Latin America Market Value Share, by Type, 2018, 2022, and 2033
Figure 27: Latin America Market Attractiveness, by Type
Figure 28: Latin America Market Value Share, Analysis, 2018, 2022, and 2033
Figure 29: Latin America Market Attractiveness, Analysis
Figure 30: Latin America Market Value Share, by Country and Sub-region, 2018, 2022, and 2033
Figure 31: Latin America Market Attractiveness, by Country and Sub-region
Figure 32: Middle East & Africa Market Value Share, by Type, 2018, 2022, and 2033
Figure 33: Middle East & Africa Market Attractiveness, by Type
Figure 34: Middle East & Africa Market Value Share, Analysis, 2018, 2022, and 2033
Figure 35: Middle East & Africa Market Attractiveness, Analysis
Figure 36: Middle East & Africa Market Value Share, by Country and Sub-region, 2018, 2022, and 2033
Figure 37: Middle East & Africa Market Attractiveness, by Country and Sub-region
Figure 38: Global Market Share Analysis, by Company, 2018
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the value of the geriatric care services market in 2023?
The global geriatric care services market is valued at US$ 468.5 million in 2023.
At what value will the geriatric care services market close in 2033?
Geriatric care service demand is set to reach a market valuation of US$ 850 million by the end of 2033.
What is the anticipated CAGR of the geriatric care services market across the forecast period?
Over the next ten years, worldwide demand for geriatric care services is projected to rise at 6.1% CAGR
Which region will lead the global geriatric care services market?
Demand for geriatric care services in North America is set to account for a commanding share of the global market through 2033.
Who are the key players in the global geriatric care services market?
AstraZeneca, Novartis AG, Abbot Laboratories, Amgen, and Kowa Pharmaceuticals America Inc. are key geriatric care service providers.
Geriatric Care Services Market