Factors such as ever increasing geriatric population coupled with increased governmental investments for adult day care centers across North America are the prime factors fueling the growth of geriatric care services market in North America.
Dallas, United States - December 15, 2021 /MarketersMedia/ —
Increasing chronic illness instances and a senior population are the primary variables driving the North America geriatric care services market demand throughout the forecast period. A large number of internet users can benefit from healthcare services by simply contacting doctors while sitting at home. As a consequence of the internet, people are becoming more aware of and informed about elder care services. This makes geriatric care, nursing, and other services more acceptable in many countries. By 2025, the North America geriatric care services market is expected to reach USD 421.6 billion, driven by increasing life expectancy in the region.
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As a result, one of the reasons driving the growth of the North American geriatric care services market is the usage of social media. The high cost of services is a significant impediment to the expansion of the North America geriatric care services market.
Continuous developments in geriatric care services, such as care worker availability and capacity, transparency regarding treatment quality, professional education, and remote patient management, are expected to support the growth of the North American geriatric care services market. Growing technology improvements in geriatric care services, along with advantageous government policies for elderly individuals, have increased demand for geriatric care services. Rising chronic diseases such as orthopedic disease, cancer, cardiovascular disease, and diabetes are expected to drive the expansion of the North American geriatric care services market.
However, the high cost of these services may have a negative impact on the North America geriatric care services market share. The overall healthcare costs connected with aged care management are growing as a result of increased intervention costs and higher survival rates, which result in patients using healthcare resources for a longer period of time. The expanding aging population adds considerably to the rise in the cost of geriatric care services.
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Furthermore, recent research indicates that an increase in illnesses such as diabetes, stroke, high blood pressure, and other lifestyle variables has resulted in a rise in the prevalence of Alzheimer's, boosting the need for skilled nursing care services. On the contrary, the North America geriatric care services market has been hampered by the high costs of competent nursing care services, as well as the limited acceptability of these services.
The growing senior population, together with enterprises' ongoing commitment to innovation, gives more opportunities for service providers to deliver better care services to older people, resulting in an opportunity for the North America geriatric care services market to flourish. The greatest issue for the North America geriatric care services market may be a lack of expertise and a necessity for training for health professionals in the North America geriatric care services market.
The North American geriatric care services market is divided into two categories: type and geographical context. The market is divided into three types: institutional care, home care, as well as adult care. Home care is expected to grow at a CAGR in the North America geriatric care services market during the forecast period, driven by factors such as comfort at home, personal care, and overall health improvement. According to the American Geriatrics Society, home care is connected with a longer life and a lower chance of re-hospitalization, which will promote the growth of the North America geriatric care services market throughout the projected period.
Some of the major players profiled in this report include Gentiva Health Services, Inc., Genesis HealthCare Corp., GGNSC Holdings, Kindred Healthcare and Home Instead Senior Care Inc.
Report Scope:
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
CAGR: 4.70%
Key segments of the North America geriatric care services market
Type Overview, 2015-2025 (USD million)
Home Care
Adult Care
Institutional Care
Regional Overview, 2015-2025 (USD million)
North America
United States
Canada
Table Of Contents:
Chapter 1. Research Methodology
Chapter 2. Executive Summary
Chapter 3. Market Outlook
Chapter 4. North America Geriatric Care Services Type Overview
Chapter 5. Regional Overview
Chapter 6. Company Profiles
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FAQs:
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Website: https://www.adroitmarketresearch.com/industry-reports/north-america-geriatric-care-services-market
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