Press release
Unlocking the Potential: Geriatric Care Services Market Analysis
The global geriatric care services market reached $0.4 billion in 2020 and is poised to expand at a CAGR of 5.3% from 2021 to 2028, reaching a value of $0.7 billion by the end of 2028.Improved medical reimbursement policies for the elderly, increased government investments in healthcare facilities, and expanding health insurance options are driving market growth.
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Healthcare Advancement Driving Popularity:
Rapid advancements in geriatric healthcare, coupled with growing concerns about the health of the aging population, contribute significantly to the market's growth.
The global healthcare industry's robust growth is a key driver for the demand within geriatric care services, covering a wide range of services aimed at enhancing the health standards of the elderly.
Awareness of Elderly Care as a Growth Opportunity:
Ongoing changes in healthcare, increased importance given to healthcare management, and a surge in chronic diseases among the aging population are propelling the geriatric care services market.
Governments' ardent efforts to enhance the quality of life for the elderly population contribute to the rising demand for geriatric care services.
Asia Pacific Leading the Market:
The Asia Pacific region is anticipated to dominate the global geriatric care services market due to a rapidly rising geriatric population, healthcare advancements, increasing life expectancy, and declining fertility rates.
Countries like India, China, and Japan are witnessing a growing demand for geriatric care services, driven by rising health concerns among the elderly.
Growth Opportunities Due to Reimbursement Policies:
The improvement in medical reimbursement policies, especially for the elderly, is a pivotal factor driving the market's growth over the past decades.
Governments' efforts to establish better values and standards for the treatment of elderly individuals, coupled with increasing investments in healthcare, are expected to contribute to significant revenue inflow.
Recommendations for Market Players:
Focus on research and development to innovate and offer effective healthcare solutions tailored to the needs of the geriatric population.
Capitalize on educational initiatives to increase awareness about geriatric care services among both healthcare providers and the elderly.
Expand operations in regions with a growing geriatric population and evolving healthcare infrastructure, such as Asia Pacific, by aligning offerings with local preferences.
Embrace collaborations and partnerships with healthcare organizations and governments to leverage resources and address challenges in geriatric care.
Ensure compliance with regulatory requirements and prioritize high-quality care to build trust among healthcare providers and the elderly.
Competition Landscape:
The global geriatric care services market is highly fragmented, with both international and regional players contributing to its diversity.
Key players include Amedisys Incorporated, Brookdale Senior Living Incorporated, Extendicare Incorporated, Genesis HealthCare Corporation, and others.
Key Developments:
Players are expanding their market positions through mergers, acquisitions, and collaborations to introduce innovative products and strengthen their global presence.
Examples include Sunrise Senior Living Inc.'s collaboration with Royal Philips to introduce advanced senior care technology and Genesis Healthcare Corp.'s partnership with Next Healthcare Capital involving skilled nursing facilities.
COVID-19 Impact:
The pandemic emphasized the importance of geriatric care services, as elderly individuals were at a higher risk during the crisis.
Challenges included hindrance in diagnostic testing and interrupted drug supply chains, reinforcing the significance of geriatric care services.
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Get Exclusive PDF Sample Copy of Geriatric Care Services Market Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2558
Healthcare Advancement Driving Popularity:
Rapid advancements in geriatric healthcare, coupled with growing concerns about the health of the aging population, contribute significantly to the market's growth.
The global healthcare industry's robust growth is a key driver for the demand within geriatric care services, covering a wide range of services aimed at enhancing the health standards of the elderly.
Awareness of Elderly Care as a Growth Opportunity:
Ongoing changes in healthcare, increased importance given to healthcare management, and a surge in chronic diseases among the aging population are propelling the geriatric care services market.
Governments' ardent efforts to enhance the quality of life for the elderly population contribute to the rising demand for geriatric care services.
Asia Pacific Leading the Market:
The Asia Pacific region is anticipated to dominate the global geriatric care services market due to a rapidly rising geriatric population, healthcare advancements, increasing life expectancy, and declining fertility rates.
Countries like India, China, and Japan are witnessing a growing demand for geriatric care services, driven by rising health concerns among the elderly.
Growth Opportunities Due to Reimbursement Policies:
The improvement in medical reimbursement policies, especially for the elderly, is a pivotal factor driving the market's growth over the past decades.
Governments' efforts to establish better values and standards for the treatment of elderly individuals, coupled with increasing investments in healthcare, are expected to contribute to significant revenue inflow.
Recommendations for Market Players:
Focus on research and development to innovate and offer effective healthcare solutions tailored to the needs of the geriatric population.
Capitalize on educational initiatives to increase awareness about geriatric care services among both healthcare providers and the elderly.
Expand operations in regions with a growing geriatric population and evolving healthcare infrastructure, such as Asia Pacific, by aligning offerings with local preferences.
Embrace collaborations and partnerships with healthcare organizations and governments to leverage resources and address challenges in geriatric care.
Ensure compliance with regulatory requirements and prioritize high-quality care to build trust among healthcare providers and the elderly.
Competition Landscape:
The global geriatric care services market is highly fragmented, with both international and regional players contributing to its diversity.
Key players include Amedisys Incorporated, Brookdale Senior Living Incorporated, Extendicare Incorporated, Genesis HealthCare Corporation, and others.
Key Developments:
Players are expanding their market positions through mergers, acquisitions, and collaborations to introduce innovative products and strengthen their global presence.
Examples include Sunrise Senior Living Inc.'s collaboration with Royal Philips to introduce advanced senior care technology and Genesis Healthcare Corp.'s partnership with Next Healthcare Capital involving skilled nursing facilities.
COVID-19 Impact:
The pandemic emphasized the importance of geriatric care services, as elderly individuals were at a higher risk during the crisis.
Challenges included hindrance in diagnostic testing and interrupted drug supply chains, reinforcing the significance of geriatric care services.
Buy this premium research report
https://www.transparencymarketresearch.com/checkout.php?rep_id=2558<ype=S
More Trending Reports by Transparency Market Research -
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https://www.globenewswire.com/en/news-release/2023/03/30/2638299/0/en/Cold-Plasma-Market-Size-to-Cross-USD-17-3-Bn-by-2032-with-CAGR-of-19-3-Exclusive-Study-by-TMR.html
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https://www.globenewswire.com/en/news-release/2023/03/30/2638271/0/en/MicroRNA-Market-Size-to-Reach-USD-15-5-Bn-by-2033-TMR-Study.html
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
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