Geriatric Care Services Market To Reach $1,648.6 Billion By 2030

Geriatric Care Services Market Growth & Trends

The global geriatric care services market size is expected to reach USD 1,648.6 billion by 2030, registering a CAGR of 6.3% from 2023 to 2030, according to a new report 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 Centers of Disease Control (CDC) it has been estimated that nearly 95% nursing homes, 77% adult daycare 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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Geriatric Care Services Market Report Highlights

• The home care segment dominated the market with the largest revenue share of 42.3% in 2022 and is also expected to grow at the fastest CAGR of 6.8% 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.

• North America dominated the market and accounted for the largest revenue share of 41.8% in 2022. Key factors attributing to its large share include the constant development of reimbursement policies coupled with the presence of a wide variety of long-term care centers throughout the U.S. According to the National Library of Medicines, around 237,400 individuals in the U.S. were enrolled in adult day services centers (ADSCs) in 2020   

• Asia Pacific is expected to grow at the fastest CAGR of 8.3% 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

Geriatric Care Services Market Segmentation

Grand View Research has segmented the global geriatric care services market on the basis of service, and region:

Geriatric Care Services Outlook (Revenue, USD Billion, 2018 - 2030)

• Home Care Services

  • Health Care

    • Medical Care

    • Physiotherapy Services

    • Telehealth

    • Palliative Care

    • Hospice Care

  • Non-medical Home Care

    • Personal Care

    • Homemaking

    • Meals and Grocery

    • Rehabilitation

    • Others

• Adult Care Services

  • Health Care

  • Non-medical Care

• Institutional Care Services

  • Nursing Homes

    • Palliative Care

    • Hospice Care

  • Hospital-based

  • Assisted Living

  • Independent Senior Living

Geriatric Care Services Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Geriatric Care Services Market

• Brookdale Senior Living Inc.

• EXTENDICARE

• Gentiva

• Knight Health Holdings, LLC (Kindred Hospitals)

• Sunrise Senior Living

• Genesis HealthCare

• Home Instead, Inc.

• GGNSC Holdings LLC