Transparency Market Research has published a new research report that offers a holistic view of the global Geriatric Care Services Market. According to the research report, titled “Geriatric Care Services Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”, the market shows a positive growth trend due to several reasons. Research analysts have studied this market using SWOT analysis to highlight the strengths, weaknesses, opportunities, and threats facing the market. Additionally, the research report uses Porter’s five forces analysis to shed light on the threat of new entrants, the threat of substitute products or services, the bargaining power of customers (buyers), the bargaining power of suppliers, and the intensity of competitive rivalry.
According to the research report, the global geriatric care services market is expected to surge at a CAGR of 5.90% from 2013 to 2019 to reach a figure of US$850 bn by the end of 2019. The global geriatric care services market is expected to grow due to the convenience they offer and the cost-efficient solutions they come with. Furthermore, the lack of nursing home options in developing countries will also fuel the home care services segment in the coming years.
The global geriatric care services market is segmented on the basis of type and geography. The types of geriatric care services in the global market are home care, adult day care, and institutional care. The home care segment is further divided into health care and non-medical care. The health care is inclusive of medical care, telehealth, physiotherapy services, palliative care, and hospice care, whereas the non-medical home care sub-segment includes personal care, meals and grocery, home making, rehabilitation, and others. The adult day care segment is composed of non-medical care and health care. The institutional care segment is sub-segmented into nursing homes, hospital-based, assisted living, and independent senior living. The nursing home sub-segment includes hospice care and palliative care.
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Geographically, this market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Of all the regions, North America is expected to dominate the global geriatric care services market in the coming years. This region’s success will be closely followed by Europe.