Geriatric Care Services Market by Service Type (Home Care, Adult Day Care and Institutional Care): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2023
Sarasota, FL -- (SBWIRE) -- 08/23/2018 -- According to the report, global geriatric care services market was valued at approximately USD 916.31 billion in 2017 and is expected to generate revenue of around USD 1,390.63 billion by the end of 2023, growing at a CAGR of around 7.2% between 2017 and 2023.
There is growing geriatric population all over the world. This geriatric population intends to live independently; therefore there are geriatric care services which provide the workforce to take care of them. It also provides care for the elderly who are facing chronic physical conditions or other diseases and disorders. They comprise of personal care services, healthcare services, medical care services and other services so that it meets the daily requirement of the elderly person. Technological advancements that assist the geriatric population who live independently is a factor boosting the growth of the global geriatric care services market.
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The geriatric care services market is segmented on the basis of service type into home care, adult day care, and institutional daycare. Home care is further divided into health care and nonmedical health care. Adult day care is also further segmented as healthcare and non- medical care. Institutional care consists of nursing homes, hospital-based, assisted living, and independent senior living. Institutional daycare is expected to dominate the market. Home care segment is expected to show the highest growth in the forecasting period due to the increase in demand for being in the home.
North America, Europe, Asia-Pacific, Latin America and Middle East & Africa are the regional segments of global geriatric care services market. North America is anticipated to remain the leading region over the forecast period due to the presence of long-term geriatric care services. The growth in Europe is expected to show steady growth in demand for the global geriatric care services market. The Asia Pacific is expected to show highest growth rate in forecast period because of the increase in geriatric population. Latin America and Middle East & Africa are also expected to show an increase in demand for geriatric care service market in the forecast period.
Some of the key players in the global geriatric care services market include Brookdale Senior Living, Inc., Extendicare, Inc., Genesis HealthCare Corp., Gentiva Health Services, Inc., GGNSC Holdings, Home Instead Senior Care, Inc., Kindred Healthcare, Inc., Senior Care Centers of America, Skilled Healthcare Group, Inc., and Sunrise Senior Living, Inc. Major players are frequently engaged in mergers & acquisitions to retain their market share and diversify their product portfolio.
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This report segments the global geriatric care services market as follows:
Global Geriatric Care Services Market: Service-Type Segment Analysis
Non-Medical Health Care
Adult Day Care
Non-Medical Health Care
Independent Senior Living
Global Geriatric Care Services Market: Regional Segment Analysis
The Middle East and Africa
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