San Francisco, 17 January 2019: The Report Geriatric Medicine Market Analysis By Therapeutic Category
(Analgesics, Antihypertensives, Statins, Antidiabetics, Proton Pump Inhibitor,
Anticoagulant, Antipsychotic, Antidepressant), by Therapeutic Condition
(Cardiovascular, Arthritis, Neurological, Cancer, Osteoporosis, Respiratory)
And Segment Forecasts To 2024
The global geriatric
medicine market is expected to reach over USD 1,017 billion by 2024 according
to a new report by Grand View Research Inc. Increase in the global geriatric
population is one of the major challenges for the healthcare industry and the
governments across the globe, however, it has proven to be a boon for the
geriatric medicine market.
The high market growth
is anticipated on account of the rising prevalence of various target diseases
in the geriatric population, the demographic shift, the upward trend in
lifestyle-related risk factors, and the significantly improved access to
affordable healthcare as well as medicine across the developing and emerging
economies.
The rising prevalence of
the Alzheimer’s disease in the geriatric population is expected to serve as a
high impact rendering driver for the geriatric medicine market over the
forecast period. In 2015, as per the estimates published by the Alzheimer’s
disease International, nearly 47 million people have dementia and this number
is expected to double after every 20 years. Furthermore, as per the estimates
published by The Alzheimer's Association, in the U.S., out of the 5.4 million
Americans living with the disease, nearly 5.2 million or 96.3% are aged 65 and
above.
In order to mitigate the
concerns arising due to the unfavorable shift in the demographic variables such
as age, lifestyle patterns, economic development, coupled with the upward shift
in the disease trends associated with the geriatric population, the developed
regions have consistently improved their healthcare practices by allocating
high amount of resources towards the healthcare and social development sectors.
For instance, the U.S.,
Germany, the UK, and Japan allocate 17.1%, 11.30%,9.10%,10.20%, of their GDP
respectively towards healthcare expenditure and majority of these resources are
channelized towards developing new drugs, new software, and building technology
platforms for hospitals and home health services.
Access Research Report
of Geriatric Medicine
Market@ www.grandviewresearch.com/industry-analysis/geriatric-medicine-market
Further key findings from the study suggest:
· In 2015, analgesic medicine accounted for
the highest revenue of nearly USD123 billion. The key factors attributed to include
the rising prevalence of various types of pains associated with aging. These
pains can be categorized as general body pain, post-surgical pain, muscle pain,
acute or chronic joint pain, neuropathic pain, and others.
· In 2015, North America dominated the
geriatric medicine market with a revenue share of over 37% owing to the
presence of well-developed social and healthcare sectors, the availability of
the latest medicine, and insurance coverage coupled with the presence of a
large number of people aged above 60 years.
· Asia Pacific region is anticipated to
exhibit the maximum growth rate at a CAGR of over 7% from the year 2016 to
2024. In comparison with the developed regions, the economic burden of the
target diseases, the access to healthcare, health insurance and the percentage
of public and private healthcare expenditures vary significantly in the Asia
Pacific countries.
· The countries such as China and India are
expected to witness a significant rise in the elderly population base and this
factor in turn is expected to create an upward trend in the geriatric medicine
market over the forecast period.
· The market dynamics indicate the presence
of strong competition amongst the key players such as Eli Lilly and Company,
AstraZeneca plc, Boehringer Ingelheim GmbH, Abbott Laboratories., Sanofi S.A.,
Bristol-Myers Squibb, Merck & Company Inc., Novartis AG, Pfizer, Inc., and
GlaxoSmithKline Plc.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has
segmented the geriatric medicine market by therapeutic category, therapeutic
condition, and region:
Geriatric Medicine Market by therapeutic category (USD
Billion, 2016 - 2024)
·
Analgesics
·
Antihypertensives
·
Statins
·
Antidiabetics
·
Proton Pump Inhibitor
·
Anticoagulant
·
Antipsychotics
·
Antidepressants
Geriatric Medicine Market by therapeutic condition, by
Revenue (USD Billion,2016 - 2024)
·
Cardiovascular diseases
·
Arthritis
·
Neurological Disorders
·
Cancer
·
Osteoporosis
·
Respiratory
Geriatric Medicine Market Regional Outlook, by Revenue
(USD Billion, 2016 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
o
Mexico
·
MEA
o South Africa
Access Press Release of
Geriatric Medicine Market@ www.grandviewresearch.com/press-release/global-geriatric-medicine-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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