Market Research Report
Global Geriatric Care Services Market, By Service Type (Home Healthcare, Assisted Living Facilities, Adult Day Care Services, Continuing Care, Skilled Nursing Facilities), and By Geography - Trends, Analysis and Forecast till 2024
|Published by||Coherent Market Insights||Product code||521314|
|Published||Content info||154 Pages
Delivery time: 2-3 business days
|Global Geriatric Care Services Market, By Service Type (Home Healthcare, Assisted Living Facilities, Adult Day Care Services, Continuing Care, Skilled Nursing Facilities), and By Geography - Trends, Analysis and Forecast till 2024|
|Published: May 14, 2019||Content info: 154 Pages||
Geriatric care services offer end to end solutions and assistance for the elderly population. Elderly individuals suffering from dementia, or chronic diseases such as diabetes, cardiac disorders, and others require consistent care and monitoring, which is offered by market players in the form of a range of services as per the patient's requirement.
Rising geriatric population prone to chronic diseases is a major factor driving geriatric care services market growth. According to the U.S. Census Bureau, 2015, the population in the age group of 65 years and above, is expected to increase over 60% during 2015 - 2030. It is estimated that the highest growth would be in Asia Pacific and Latin America. However, rising prevalence of dementia is expected to boost the market growth. Similarly, according to the World Alzheimer Report 2015, an estimated 46.8 million people worldwide are living with dementia, and around 9.9 million new cases of dementia are registered each year, globally.
Moreover, increasing number of elder care facilities and growing geriatric population are expected to be major factors augmenting growth of the geriatric care services market. For instance, according to figures released by Singapore's Ministry of Health, there will be around 40,000 nursing homes, home care, and community care facilities by 2020 in Singapore. Moreover, according to estimates by Eldercare Exhibition and Conference Asia, 2018, Asia Pacific is the fastest aging region worldwide with over 200 million people expected to be in the age group of 65 years and above between 2018 and 2030.
However, limited expenditure by governments is expected to restrain the market growth. For instance, according to the International Monetary Fund, 2018, Latin America governments are still spending less on pensions (less than 4% of the GDP on average) compared to around 9% in high income countries.
"*" marked represents similar segmentation in other categories in the respective section.