2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

Which Primary Drivers Are Supporting the Continued Market Growth of theGeriatric Care Services Market?

The escalation in chronic disease prevalence is projected to spur the geriatric care services market’s expansion. Chronic ailments are prolonged health conditions that last over a considerable duration, typically necessitating sustained management and treatment as they are typically incurable. The surge in chronic disease incidences is due to multiple intertwined factors such as an aging populace, unhealthy life practices, and healthcare availability and structure. Geriatric care services are pivotal in enhancing the life quality of elderly individuals with enduring medical conditions by providing all-inclusive, patient-focused care, accommodating their functional, psychological, and medical needs. For example, The National Library of Medicine, a biomedical library based in the US, forecasted in January 2023 that the population aged 50 or more with at least a single chronic disease is expected to surge from 71.522 million in 2020 to 142.66 million in 2050, indicating a 99.5% increase. Concurrently, the count of individuals with multimorbidity is projected to rise from 7.83 million in 2020 to 14.97 million in 2050, signaling a 91.16% increase. Consequently, the rising prevalence of chronic ailments is fueling the geriatric care services market’s growth.

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#What is the Anticipated CAGR of theGeriatric Care Services Market, and What Factors Will Drive It?

In recent times, the market size for geriatric care services has witnessed substantial growth. The sector, which was valued at $1076.85 billion in 2024, will further expand to reach $1156.62 billion in 2025, marking a compound annual growth rate (CAGR) of 7.4%. Factors contributing to the growth during the historic period include a surge in disorders, heightened government initiatives, increasing geriatric population, growing obesity rates, and increasing instances of chronic health issues.

Expectations are high for the geriatric care services market to experience substantial growth in the upcoming years, with projections pointing to a size of $1519.57 billion by 2029, implying a compound annual growth rate (CAGR) of 7.1%. Factors contributing to this predicted growth within the forecast timeframe include an influx of medical facilities, a spike in dementia incidents, a surge in customized care plans, and a growing demand for home-based care services, as well as escalating palliative and hospice care. Key trends to watch for during the forecast period include medical and healthcare system innovation, remote patient consultations and monitoring, new product developments, healthcare technology advancements, the incorporation of artificial intelligence into wearable devices, and a rise in partnership deals.

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How Are Consumer Market Innovations Shaping the Current and Future Landscape of theGeriatric Care Services Market?

Leading businesses in the geriatric care services market are concentrating on the advancement of novel technologies like AI-enabled assistant services to provide effective elderly care. AI-based care assistants for the aged are technology-enabled solutions leveraging artificial intelligence to enhance and support the daily life activities, health, and overall well-being of senior citizens. In the case of Iveda Solutions, a technology firm from the U.S renowned for cloud video AI surveillance and analytics, it introduced IvedaCare, an AI-oriented assistant aimed at safety, security, and aged care, in November 2022. This trailblazing technology harnesses predictive software to minimize false alerts and assures caregivers by adopting users’ lifestyle choices to make informed health and security decisions. The system employs sensors judiciously installed in the elderly’s residence to keep track of their daily routines, facilitating comprehensive supervision without resorting to invasive cameras.

Who Are the Key Market Players Influencing the Growth of the Corn and Geriatric Care Services Industry?

Major companies operating in the geriatric care services market are Home Instead Senior Care Incorporated, Pfizer Inc., F. Hoffmann-La Roche AG, Merck & Co. Inc., Bristol-Myers Squibb Company, Allergan Inc., Regeneron Pharmaceuticals Inc., Quest Diagnostics Incorporated, Juniper Networks US, Genesis HealthCare Corporation, Kindred Healthcare Incorporated, Benesse Holdings Inc., Brookdale Senior Living Incorporated, Endo Pharmaceuticals Inc., Amedisys Incorporated, Sunrise Senior Living Incorporated, Active Day Inc., NMC ProVita International Medical Centre Ltd., Econ Healthcare Group, Living Assistance Services Inc., Rosewood Care Group Inc., St Luke’s ElderCare Ltd., Epoch Elder Care Private Limited, LivHOME, GGNSC Holdings LLC

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Which Key Market Segments Comprise the Geriatric Care Services Market and Drive Its Revenue Growth?

The geriatric care services market covered in this report is segmented –

1) By Type: Homecare, Healthcare, Institutional Care Centers, Non-Medical Health Care, Hospital Based Care, Assisted Living, Independent Senior Living, Rehabilitative Care Services

2) By Age Group: 65 To 70 Years, 70 To 75 Years, 75 To 80 Years, More Than 80 Years

3) By Application: Respiratory Diseases, Diabetes, Osteoporosis, Other Applications

4) By End User: Institutional Care Services, Nursing Homes, Rehabilitation Centers, Hospitals

Subsegments:

1) By Homecare: Personal Care Services ( Bathing, Dressing), Companionship Services, Home Health Aide Services, Nursing Care Services At Home, Physical Therapy And Rehabilitation At Home, Chronic Disease Management At Home

2) By Healthcare: In-Home Medical Care ( Physician Visits), Telehealth And Telemedicine For Seniors, Geriatric Nursing Services, Palliative And Hospice Care, Elderly Vaccination And Preventive Health Services, Geriatric Health Screenings And Assessments

3) By Institutional Care Centers: Nursing Homes, Long-Term Care Facilities, Memory Care Units (For Alzheimer’s Or Dementia Patients), Skilled Nursing Facilities (Snfs), Rehabilitation Centers, Geriatric Psychiatric Care Institutions

4) By Non-Medical Health Care: Assistance With Daily Living Activities ( Meal Preparation, Housekeeping), Elderly Transportation Services, Companion Care Services, Caregiver Support And Respite Care, Home Safety And Accessibility Modifications

5) By Hospital-Based Care: Acute Geriatric Care, Geriatric Emergency Care Services, Geriatric Surgery Services, Inpatient Rehabilitation Services, Palliative Care And Pain Management In Hospitals

6) By Assisted Living: Independent Living With Assistance, Memory Care Assisted Living, 24/7 Supervision And Personal Care Assistance, Community-Based Assisted Living Centers, Medication Management And Assistance

7) By Independent Senior Living: Senior Apartments And Housing Communities, Age-Restricted Independent Living Communities, Senior Retirement Communities, Community Socialization And Recreation Services, Maintenance-free Living For Seniors, Active Lifestyle Programs For Seniors

8) By Rehabilitative Care Services: Physical Therapy And Occupational Therapy, Post-Surgery Recovery Services, Speech And Language Therapy, Cardiac And Stroke Rehabilitation, Inpatient And Outpatient Rehabilitation Services, Sports Medicine And Injury Recovery

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Which Regions Are Emerging as Leaders in the Geriatric Care Services Market?

North America was the largest region in the geriatric care services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the geriatric care services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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