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.
In depth research report on 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.
For the purpose of this study,
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
§
Physiotherapy services
§
Telehealth
§
Palliative care
§
Hospice care
o
Non Medical Home Care
§
Personal care
§
Home making
§
Meals and grocery
§
Rehabilitation
§
Others
·
Adult day care
o
Health care
o
Non medical care
·
Institutional care
o
Nursing Homes
§
Palliative Care
§
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, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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