Industry Outlook

The Geriatric Care Services market accounted for USD 1,290.5 Billion in 2024 and is expected to reach USD 2,888.6 Billion by 2035, growing at a CAGR of around 7.6% between 2025 and 2035. Geriatric Care Services is a specialized sector that offers facilities for older patients that focus on disease prevention, diagnosis, treatment, and complete care and make their day-to-day life easier by monitoring their health with various devices, and assistive devices, providing essential medicines on time with full-time assistance. This service mostly focuses on enhancing the quality of life of senior citizens by taking care of their physical, emotional, and social well-being.

Report Scope:

Market Dynamics

• Advancements in technology offer alternative treatment and care, which propels the healthcare sector

The geriatric market is expanding due to technological advancements. Innovations like smart home devices, telemedicine, and remote monitoring are helping to improve the quality of care, and accessibility helps to drive growth. Technological advancements transform the healthcare domain by providing innovative alternatives for treatment and personal care. Telemedicine is the one that provides remote treatment to the patient on telecommunication infrastructure. Elderly patients can maintain their independence by using robotic assistants and automated medication.

• The expensive nature of services for senior citizens could influence the market's expansion

The high cost of geriatric care services hinders the growth of the market. Many geriatric patients and their families find these services unaffordable. Particularly in the regions where minimal government subsidiaries and insurance are available. Without sufficient support from the government and having low insurance coverage, the market is struggling to achieve the desired growth. As the demand for high-quality care is increasing, the overall cost of the service also increases. Only a significant portion of the elderly population can afford these care services.

• Growing awareness about Geriatric healthcare

The market for geriatric care is expanding, which presents a significant chance for growth. The need for geriatric treatment grows as more people become conscious of early diagnosis and preventive care for elderly patients. The need for geriatric therapy and increasing concern is a helpful market expansion. Modern technological innovations like remote monitoring and telemedicine are generally acknowledged. Innovations in medical devices are becoming more and more necessary as the focus on geriatric healthcare grows. Widely spread is the market.

Industry Experts Opinion

“If we create platform for older to pursue their hobbies, passion and if they do that it will increase their mental health enrichment, physical health also helps them to connect with new people which reduce loneliness”

• Neil Dsouza, founder of GETSETUP

Segment Analysis

Based on the service type, the geriatric care services market is sub-classified in-Home Care, Adult day Care, Nursing Homes, and Assisted Living. Home Care is currently the leading service in the geriatric care market due to its personalized approach and the growing preference for aging in place. It allows geriatric people to receive tailored care in the comfort of their own homes, which is often preferred over institutional settings. The rise in chronic conditions and the desire for more flexible, in-home solutions contribute to its prominence.

Based on the application type, In the geriatric care services market, cardiovascular disease is often the leading application due to its high prevalence among the elderly. Heart disease and its related conditions require ongoing management and monitoring, making this segment particularly significant. Chronic conditions such as diabetes and arthritis are also general contributors, but cardiovascular issues tend to dominate due to their widespread impact and critical need for continuous care.

Regional Analysis

Regionally, North America is the leading due to the largest market share because of its advanced healthcare system, strong government support for senior healthcare programs like Medicare and Medicaid, and high level of awareness regarding elder care. An abundance of older residents and broad adoption of technology in senior care are two more advantages for the area.

Europe's market is growing at the fastest rate, despite being already well-established. The population is aging at a faster rate than ever, government programs supporting assisted living and home healthcare are growing, and the need for specialized senior care services is becoming more and more pressing. Europe can grow more quickly than the other regions even though both are expanding due to its focus on creative, affordable senior solutions.

Competitive Landscape

Key operating players in the global Geriatric Care Services Market involve Brookdale Senior Living, Amedisys Inc., and Extendicare Inc., it crosses different segments and offering a range of services such as assisted living, home health care, and nursing home. Advancements in technology such as telehealth, are becoming crucial for gaining a competitive edge. These companies are known for their extensive networks and specialized care for elderly individuals.

Geriatric Care Services Market, Company Shares Analysis, 2024

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Recent Developments:

• In January 2022, Century Therapeutics and Bristol Myers Squibb announced a new collaboration to develop and commercialize up to four advanced cell therapies for cancer. The initial focus will be on treatments for acute myeloid leukemia and multiple myeloma, using either engineered natural killer cells or T cells. Bristol Myers Squibb also has the option to include two additional programs in the future.

Report Coverage:

By Service

• Home Care
• Adult Day Care
• Palliative Care
• Assisted Living
• Nursing Home

By Application

• Respiratory Disease
• Diabetes
• Heart Disease
• Neurological Disease
• Kidney Disease
• Arthritis
• Cancer

By Payment Source

• Public Insurance
• Private Insurance
• Out-of-pocket

By Region

North America

• U.S.
• Canada

Europe

• U.K.
• France
• Germany
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Singapore
• Rest of Asia Pacific

Latin America

• Brazil
• Argentina
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC Countries
• South Africa
• Rest of Middle East & Africa

List of Companies:

• Brookdale Senior Living
• Amedisys, Inc.
• LHC Group, Inc.
• Kindred Healthcare
• Sunrise Senior Living
• Extendicare
• Encompass Health Corporation
• Genesis HealthCare
• Comfort Keepers
• Visiting Angels
• Senior Helpers
• Atria Senior Living
• Holiday Retirement
• HCR ManorCare
• Home Instead Senior Care
• Bayada Home Health Care
• Right at Home
• BrightStar
• ResCare HomeCare

Frequently Asked Questions (FAQs)