PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1781965
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1781965
Geriatric Care Services Market size was valued at USD 1,149.32 Million in 2024, expanding to a CAGR of 6.50% from 2025 to 2032.
Geriatric care services refer to a broad range of medical, social, and personal care services designed to meet the unique needs of elderly individuals, with aged 65 and older.
Geriatric Care Services Market- Market Dynamics
Growing aging population and rising prevalence of chronic disorders are expected to propel market demand
The increasing elderly adult population is driving the demand for geriatric care services market growth. According to the United Nations, the number of people aged 65 years and older is projected to more than double by 2050, reaching over 1.5 billion globally. This demographic shift is particularly prominent in developed nations like Japan, Germany, and Italy, but is also increasingly evident in emerging economies such as China and India. As longevity increases due to better healthcare and living standards, so does the need for long-term care, chronic disease management, and assisted living, all of which fall under the umbrella of geriatric care.
Further, chronic diseases such as diabetes, arthritis, cardiovascular diseases, cancer, osteoporosis, and Alzheimer's disease are becoming increasingly common. The elderly often require ongoing medical attention, rehabilitation, and personal care support. Geriatric care services play a critical role in the management of these chronic conditions, often through home healthcare, skilled nursing, and geriatric clinics. This has driven significant investments in specialized services and facilities to cater to these complex health needs. Also, rising awareness campaigns by healthcare Service Providers, government bodies, and NGOs have helped promote the adoption of professional geriatric care services, ranging from in-home nursing to assisted living and memory care. In addition, governments in many countries are introducing supportive policies, subsidies, and programs to encourage elder care. In India, schemes like the National Program for Health Care of the Elderly (NPHCE) aim to strengthen geriatric health infrastructure. In countries like Japan and Germany, public long-term care insurance covers a wide range of elderly care services.
Geriatric Care Services Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.50% over the forecast period (2025-2032)
Based on Services segmentation, the adult care segment was the leading Service segment in 2024, owing to high demand for medication management.
Based on Service Provider segmentation, public segment was the leading Service Provider segment in 2024, as Geriatric Care Services due to high demand from insurance policies.
Based on Payment Source segmentation, the public insurance segment was the leading Payment Source segment in 2024, due to high demand for Geriatric Care Services systems.
On the basis of the region, North America was the leading revenue generator in 2024, due to high imbursement of insurance policies.
The Global Geriatric Care Services Market is segmented on the basis of Services, Service Provider, Payment Source, and Region.
The market is divided into three categories based on Services: adult care, institutional care, and others. The adult care segment dominates the market. Adult care segment is driven by growing prevalence diabetes, cancer, arthritis, cardiovascular diseases, etc.
The market is divided into two categories based on Service Provider: public and private. The public segment is expected to hold the largest share. Growing developments in healthcare infrastructure are contributing to market demand.
The market is divided into three categories based on Payment Source: private insurance, public insurance, and out-of-pocket insurance. The public insurance segment holds the highest share of the Payment Source segment. Public insurance like Medicare in the U.S., and other healthcare services are boosting segment demand.
Geriatric Care Services Market- Geographical Insights
Across the globe, the Geriatric Care Services market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America held the largest market globally, driven by aging demographics and advanced healthcare infrastructure. The U.S. is a leader in home healthcare, assisted living, and telemedicine services. Asia Pacific is expected to grow at the fastest rate over the forecast period. Rising demand from middle class in India and China boosting demand for private eldercare services. Latin America is estimated to grow at the moderate rate due to high demand for eldercare development.
The geriatric care services market is highly competitive and fragmented, with support from a wide array of players including hospitals, long-term care facilities, home healthcare agencies, insurance providers, and tech-based eldercare startups. Market players are partnering with health insurance providers to boost geriatric care services market growth.
In 2024, Genesis Healtcare partnered with NaviHealth for improved discharge planning and care coordination.
In 2024, Brookdale Senior Living launched Brookdale Engage, a program integrating wellness, therapy, and cognitive fitness.