San Francisco, 08 January, Geriatric Care Services Market Analysis by Service (Home Care,
Adult Day Care, Institutional Care, Non Medical, Medical, Nursing Homes,
Hospitals, Community Centers) and Segment Forecasts To 2022
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.
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Report On Geriatric Care Services Market Analysis:
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.
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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
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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.
For more information: www.grandviewresearch.com/
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