San Francisco, 26
September 2018: Global geriatric care services market is expected to reach USD 1,012.02 billion by 2022,
according to a new study by Grand View Research, Inc. 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, according to data
published by the Center of Disease Control (CDC) it has been estimated that
nearly 95% nursing homes, 77% adult day care service centers, 78% home health
agencies and 52% residential care communities were certified to participate in
Medicaid. Furthermore, nearly 99% home health agencies, 100% hospice, and 96.5%
nursing homes were Medicare certified.
Access Research Report
of Geriatric Care Services
Market @ www.grandviewresearch.com/industry-analysis/geriatric-care-services-market
Further key findings from the study suggest:
· The home care services market was valued at
255.36 billion in 2014 and is expected to grow at a healthy rate over the
forecast period. Home care services enable the elderly to stay at home and
receive care without altering their lifestyles. Services include medical and
non medical services.
· Institutional care services were the
leading segment of the market in 2014. Large presence and high usage rates of institutions
offering geriatric care services such as nursing homes, assisted living
facilities, hospital based geriatric care and independent senior living
communities is a key factor attributing to its market position.
· North America was one of the highest
revenue generating regional market in 2014 majorly on account of favorable
reimbursement policies, large presence of pertinent facilities and high
awareness and disposable income levels. Recent statistics support the
aforementioned statement. Data published by the CDC in 2012, suggest that the
total number of long term care facilities and adult day care centers amounted
to 58,600 and 4,800 respectively.
· The Asia Pacific geriatric care services
market is expected to grow at a CAGR of over 8.0% during the forecast period.
Presence of high unmet needs and large geriatric population base in countries
such as China and India and growing prevalence of orthopedic, neurological,
cardiovascular disorders are expected to serve this market as high impact
rendering drivers.
· Key players operating in the geriatric care
services market include Kindred Healthcare Inc., Brookdale Senior living,
Senior Care Centers of America, Extendicare, Inc. and Genesis Healthcare Corp.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/medical-devices
Grand View Research has
segmented the geriatric care services market on the basis of services and
region
Global Geriatric Care Services Product Outlook (Revenue,
USD Billion, 2012 - 2022)
·
Home care
o
Medical care
o
Physiotherapy services
o
Telehealth
o
Palliative care
o
Hospice care
o
Non Medical Home Care
o
Personal care
o
Home making
o
Meals and grocery
o
Rehabilitation
o
Others
·
Adult day care
o
Health care
o
Non medical care
·
Institutional care
o
Nursing Homes
o
Palliative Care
o
Hospice Care
o
Hospital Based
o
Assisted Living
o
Independent Senior Living
Geriatric Care Services Regional Outlook (Revenue, USD
Billion, 2012 - 2022)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
Japan
o
India
·
MEA
o
South Africa
·
Latin America
o Brazil
Access Press Release of
Geriatric Care Services Market@ www.grandviewresearch.com/press-release/global-geriatric-care-services-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.
