Geriatric Care Services Market Hits USD 1,012.02 Billion By 2022: By Grand View Research, Inc.

The global geriatric care services market is expected to reach to USD 1,012.02 billion by 2022, growing at a CAGR of 6.1% over the forecast period.

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.

Browse full research report on Geriatric Care Services Market

Further key findings from the report 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 more information: http://www.grandviewresearch.com


Contact Details

Company Name: Grand View Research
Issued By: Sherry James
Phone: 1-415- 349-0058
Address: Grand View Research, Inc. 201 Spear St #1100, Suite #3036 San Francisco, CA 94105
City: San Francisco
State: CA
Zip: 94105
Country: United States
Website: Visit the website

Keywords : Geriatric Care Services Market, Geriatric Care Services Market Size, Geriatric Care Services Market Share, Geriatric Care Services Market Trends, Geriatric Care Services Market Analysis.,

by Sherry James (few years ago!)

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