Dublin, Nov. 22, 2023 (GLOBE NEWSWIRE) -- The "Geriatric Care Services Market Size, Share & Trends Analysis Report By Service (Home Care Services, Adult Care Services, Institutional Care Services), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global geriatric care services market size is expected to reach USD 1, 648.6 billion by 2030, registering a CAGR of 6.3% from 2023 to 2030
Constantly increasing geriatric population prone to chronic medical conditions is expected to drive market growth over the forecast period. Presence of favorable reimbursement policies in the U.S. which are primarily driven by Medicaid and Medicare is also expected to positively reinforce market growth.
In 2012, data from the Centers for Disease Control (CDC) indicated that nearly 95% of nursing homes, 77% of adult daycare service centers, 78% of home health agencies, and 52% of residential care communities were certified to participate in Medicaid. Additionally, nearly 99% of home health agencies, 100% of hospices, and 96.5% of nursing homes were certified under Medicare.
The home care segment emerged as the market leader, contributing the largest share of revenue at 42.3% in 2022 and is projected to experience the highest compound annual growth rate (CAGR) of 6.8% during the forecast period. Home care services enable elderly individuals to receive care while remaining in their homes without disrupting their routines, encompassing both medical and non-medical services.
North America took the lead in the market, accounting for the largest share of revenue at 41.8% in 2022. This can be attributed to ongoing developments in reimbursement policies and the widespread presence of various long-term care facilities across the United States. According to the National Library of Medicine, approximately 237,400 individuals were enrolled in adult day services centers (ADSCs) in the U.S. in 2020.
The Asia Pacific region is anticipated to exhibit the highest CAGR of 8.3% throughout the forecast period. Factors contributing to this growth include substantial unmet needs, a sizable aging population, particularly in countries like China and India, and an increasing prevalence of orthopedic, neurological, and cardiovascular disorders. These factors position the region as a significant driver of market expansion.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 76 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1012 Billion |
| Forecasted Market Value (USD) by 2030 | $1648.6 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
Companies Mentioned
- Brookdale Senior Living Inc.
- EXTENDICARE
- Gentiva
- Knight Health Holdings, LLC (Kindred Hospitals)
- Sunrise Senior Living
- Genesis HealthCare
- Home Instead, Inc.
- GGNSC Holdings LLC
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Services outlook
2.2.2. Regional outlook
2.3. Competitive Insights
Chapter 3. Geriatric Care Services Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.2. Market Restraint Analysis
3.3. Geriatric Care Services Market Analysis Tools
3.3.1. Industry Analysis - Porter's
3.3.2. PESTEL Analysis
3.3.2.1. Political landscape
3.3.2.2. Technological landscape
3.3.2.3. Economic Landscape
Chapter 4. Geriatric Care Services: Services Estimates & Trend Analysis
4.1. Geriatric Care Services Market: Key Takeaways
4.2. Geriatric Care Services Market: Movement & Market Share Analysis, 2022 & 2030
4.3. Home Care Services
4.3.1. Home care services market estimates and forecasts, 2018 to 2030 (USD Billion)
4.3.2. Healthcare
4.3.2.1 Healthcare services market estimates and forecasts, 2018 to 2030 (USD Billion)
4.3.2.2. Medical care
4.3.2.3. Physiotherapy services
4.3.2.4. Telehealth
4.3.2.5. Palliative care
4.3.2.6. Hospice care)
4.3.3. Non-medical home care
4.3.3.1 Non-medical home care services market estimates and forecasts, 2018 to 2030 (USD Billion)
4.3.3.2. Personal care
4.3.3.3. Homemaking
4.3.3.4. Meals and grocery
4.3.3.5. Rehabilitation
4.4. Adult Care Services
4.4.1. Adult care services market estimates and forecasts, 2018 to 2030 (USD Billion)
4.4.2. Healthcare
4.4.3. Non-medical care
4.5. Institutional Care Services
4.5.1. Institutional care services market estimates and forecasts, 2018 to 2030 (USD Billion)
4.5.2. Nursing Homes
4.5.2.1 Nursing Homes services market estimates and forecasts, 2018 to 2030 (USD Billion)
4.5.2.2. Palliative care
4.5.2.3. Hospice care
4.5.3. Hospital-based
4.5.4. Assisted living
4.5.5. Independent senior living
Chapter 5. Geriatric Care Services Market: Regional Estimates & Trend Analysis
5.1. Regional Outlook
5.2. Geriatric Care Services Market by Region: Key Takeaways
Chapter 6. Competitive Landscape
6.1. Recent Developments & Impact Analysis, By Key Market Participants
6.2. Market Participant Categorization
For more information about this report visit https://www.researchandmarkets.com/r/pgskrf
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