Las Vegas, NV -- (ReleaseWire) -- 09/07/2018 --The report "Geriatric Care Services Market By Product (Home Care Services, Adult Care Services and Institutional Care Services) – Global Forecast to 2022", issued by Crystal Market Research, the market has come across substantial development in the recent years and is projected to grow significantly over the forecast period.
Industry Trend Analysis:
The global geriatric care service market was evaluated around USD 560 billion in the 2012 and is expected to reach approximately USD 943.96 billion by the end of 2022 while registering itself at a compound annual growth rate (CAGR) of 5.36% over the forecast period. The United States population is aging at a rapid pace. Based on the data released in 2014 by the United Nations, it has been anticipated that by 2022, around 35% population would be more than the age of 60 years. The existence of a variety of long-term care services suppliers along with encouraging reimbursement schemes are few factors anticipated to fuel the expansion of the geriatric care services industry. Moreover, escalating older population who are inclined towards different medical conditions like orthopedic, neurological, respiratory & cardiovascular disorders along with rising technological innovations like the progress of specialty robots are skilled of supporting aged in executing everyday operations are anticipated to fuel the growth of geriatric care services industry.
Competitive Outlook and Trend Analysis:
The Key market players in the global geriatric care services market are; Kindred Healthcare Inc., Brookdale Senior Living, Senior Care Centers of America, Genesis Healthcare Corp. and Extendicare, Inc. The global market is split in nature and is directed towards the consolidation. Mergers and acquisitions are a major sustainability approach implemented by market players. Some important examples are the merger between Kindred Healthcare, Inc. and Gentiva Health Services, Inc., Genesis Healthcare and Skilled Healthcare Group, Inc., Brookdale Senior Living's and Emeritus Corporation, and Senior Care Center of America and The Adult Day Health Services Center of Family Matters, LLC.
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The global geriatric care services market is segmented as follows –
By Product:
Home Care Services
Health Care
Medical Care
Physiotherapy Services
Telehealth
Palliative Care
Hospice Care
Non-Medical Home Care
Personal Care
Home Making
Meals And Grocery
Rehabilitation
Others
Adult Care Services
Health Care
Non-Medical Care
Institutional Care Services
Nursing Homes
Palliative Care
Hospice Care
Hospital Based
Assisted Living
Independent Senior Living
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Regional Outlook and Trend Analysis:
In 2014, North America regional market dominated the global market concerning revenue share, at around 40%. Major factors assigning to its huge share involve the stable improvement of reimbursement schemes along with the existence of an extensive range of long-term care centers all over the United States and Europe owing to the existence of a huge geriatric population, particularly in the Western areas is anticipated to trail North America region during the projected period. Though, Asia Pacific regional market is expected to be the highest growing one during the forecast years. Altering family structure in various nations particularly China is likely to amplify the requirement for external care supplier, thus, fueling the growth of the market. Furthermore, rising aged population with enduring medical conditions, increasing disposable earnings and growing awareness about these medical facilities are some factors assigning to the rapid growth of the region. A rising geriatric care services centers and encouraging initiatives by the government in these segments like the provision of approachable & inexpensive social care centers to the older populations are anticipated to boost market infiltration rates during the projected period.
By Region: North America: (U.S, Canada & Mexico), Europe: (Germany, France, UK, Italy, Spain & Rest of Europe), Asia-Pacific: (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific) and Rest of the World: (Brazil, South Africa, Saudi Arabia, Turkey, United Arab Emirates & Others)
Product Outlook and Trend Analysis:
Adult day care, institutional care, and home care services are the major product sections of geriatric care services industry. Home care services involve nonmedical home health care services and home care services. Adult day care services are branched further into non-medical healthcare and healthcare services. Institutional care services involve hospital-based services, nursing homes, independent senior living and assisted living. Institutional care services industry reported for almost 50% of the revenue. Though, home care services industry is anticipated to experience lucrative expansion during the forecast years. Rising demand for home care services amongst older people, the occurrence of chronic illnesses, patients recovering from surgical procedure is expected to enhance market growth over the forecast years. Furthermore, advantages linked with home care services like independent caretaking, the wish to live at home, and generally fewer care services spending are further anticipated to reinforce the growth of market positively. Poorer availability of other options like residential living, hospice, assisted living, etc. particularly in developing countries is estimated to restrain customer preferences.
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Major ToC of Geriatric Care Services Market:
Chapter 1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
Chapter 2. Executive Summary
2.1. Key Highlights
Chapter 3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.1.1. Striking reimbursement scene
3.2.1.2. Growing aging population
3.2.2. Restraints
3.2.2.1. Absence of geriatric services in developing markets
3.2.3. Opportunities
3.2.3.1. Development of Advanced Geriatric Care Service Capabilities
…Read Full Table of Contents
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