ICAG Market Analysis and Reports | USA Conference Series

Market Analysis - ICAG 2017

Aged Care Market - Global Industry Analysis, Size, Share, Growth, Trends, & Forecast 2016 - 2023

Global Advanced Aged Care Services and Management Market

Market Scenario: Global geriatric care services market in USA was valued at $ 684.05 billion in 2015 and is expected to reach $ 1,101 billion by 2023, at over 6.2% CAGR. The advanced geriatric care market in Europe is projected to reach $ 850 billion by 2021, at a CAGR of 5.90%. The Asian active geriatric care services market value was $317 billion in 2016 and is expected to be $413 billion by 2018, at a CAGR of 5.60%.

Segments: This market analyses reported on the basis of its market segments, major geographies, and current market trends. Geographies analysed under this research report include

  • North America
  • Asia Pacific
  • Europe
  • Middle East and Africa
  • Latin America

This report provides comprehensive analysis of

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for upcoming years

This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.

Regional Analysis of Aged Care Market:

Global geriatric care services market in USA was valued at $ 684.05 billion in 2015 and is expected to reach $ 1,101 billion by 2023, at over 6.2% CAGR.

 

Key Players in Aged Care Market: The key players in the global aged care market for Pharma Novo Nordisk, AstraZeneca, GSK, Merck and Co., Novartis, and Pfizer. For Nutraceuticals, the top names in the global aged care market are Proprietary Nutritionals Inc., Nutralliance, Inc., Barrington Nutritionals, Asiamerica Ingredients, Inc., and Alkemists Labs. As for the manufacturers of furniture, Kwalu, Flexsteel, and Phoenix Contract, Inc. Brookdale Senior living, Kindred Healthcare Inc., Extendicare, Inc., Senior Care Centers of America and Genesis Healthcare Corp. Most of these companies are headquartered in North America or Europe. This says a lot about the development stages that different regions are at, in the global aged care market.

The global geriatric medicines market has been estimated on the basis of therapeutic category and conditions. Based on therapeutic category the market is divided into eight segments on the basis of therapeutic category: analgesic, antihypertensive, statins, antidiabetic, proton pump inhibitor, anticoagulant, antipsychotic & antidepressant and others. Among these segments, analgesics accounted for the largest market share in 2014 in terms of revenue and would continue to dominate the market during the forecast period. Owing to increase in the chronic diseases, favorable government initiatives toward geriatrics and increase in healthcare infrastructure is likely to boost market growth.

Geographically, geriatric medicines market has been segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America held the largest share of 39.0% of the global geriatric medicine market in terms of revenue in 2014 followed by Europe. Factors like growing prevalence of cardiovascular disease cases and rapidly rising geriatric population are helping in augmenting the market. Asia Pacific was the third largest market for geriatric medicine, and is expected to register the fastest CAGR during the forecast period. Rising prevalence of increased geriatric population, increasing government initiatives, growth in health care infrastructure and expansion of market players in the region would contribute to the market growth.

Abbott Laboratories, Inc., AstraZeneca plc, Boehringer Ingelheim GmbH, Bristol-Myers Squibb Company, Eli Lilly and Company, GlaxoSmithKline plc, Merck & Company Inc., Novartis AG, Pfizer, Inc., and Sanofi S.A are some of the major players operating in the global geriatric medicines market.

     Source: Primary Research, Government Publications, and Aging 2017 Internal

Geriatric Care Services Market Analysis by Service:

 Growing geriatric population intending to live independently is one of the major drivers of the geriatric care services market. 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. The U.S. population is “graying” at a rapid rate. According to data published by the United Nations in 2014, it has been estimated that by the year 2022, approximately 35% of the population would be above 60 years of age.

   Source: Primary Research, Government Publications, and Aging 2017 Internal

The market in the region has begun developing and returns from geriatric care business in the region are expected to grow in the coming years. The global geriatric care services market was valued at USD 560.4 billion in 2012 and is expected to reach USD 850.0 billion by 2019, growing at a CAGR of 5.9% during the forecast period 2013 to 2019.

     Source: Primary Research, Government Publications, and Aging 2017 Internal

The presence of various long-term care services providers coupled with favorable reimbursement policies are few factors expected to boost the growth of the geriatric care services market. Furthermore, increasing oldest old population who are prone to various medical conditions such as neurological, orthopedic, cardiovascular & respiratory disorders coupled with increasing technological advancement such as the development of specialty robots capable of assisting elderly in carrying out day to day operations are expected to drive the geriatric care services market growth.

Source: Primary Research, Government Publications, and Aging 2017 Internal

The global geriatric care services market is broadly categorized into home care services, adult daycare services, and institutional care services. The institutional care services market constituted the largest segment in the global geriatric care services market while home care services market is expected to witness fastest growth amongst all the segments during the forecast period 2013 to 2019.

Source: Primary Research, Government Publications, and Aging 2017 Internal

Source: Primary Research, Government Publications, and Aging 2017 Internal

Source: Primary Research, Government Publications, and Aging 2017 Internal

Key Universities Working on Geriatric Research:

University of Edinburgh, Oxford University, University of Glasgow, King's College London, University of Manchester, Johns Hopkins University, Cardiff University, Queen Mary University of London , University of Dundee, University of Birmingham, Lancaster University, Newcastle University, National Institute on Ageing, Centre for Translational Research in Ageing and Longevity,  Buck Institute for Research on Ageing, Alzheimer‘s and Ageing Research Center, Center for Research and Education in Ageing.

Source: Primary Research, Government Publications, and Aging 2017 Internal

Key Elderly Care Organizations:

Aberness Care Ltd (Aberdeen), Able Health Care, Falkirk (Scotland), Bedtime Angels Home Care, Hamilton (Scotland), Bluebird Care (Glasgow South), Braes Home Care Ltd, Grangemouth (Scotland), Call In Homecare Ltd Care at Home (Edinburgh), Elite Care (Scotland) Ltd, Embrace (Scotland)

Everycare (Edinburgh) Ltd, Flourish Home Support Services Ltd, Alloa (Scotland), Guardian Response Ltd, Dumfries (Scotland), Home Instead Senior Care (Edinburgh), Independent Living Services, Ellon (Scotland), LifeCare Edinburgh, Mears Care Ltd, North Berwick (Scotland), Mears Nurseplus, Alva (Scotland), Montana Home Care Ltd, Falkirk (Scotland), My Care, Tayside (Scotland), Nurseplus - Care at Home, Auchterarder (Scotland), Prestige Nursing and Care (Edinburgh), TayCare at Home, Dundee (Scotland).

Conferences Hosted by Geriatrics Societies:     

2017 Annual Scientific Meeting of the American Geriatrics Society (AGS), USA; 2017 Virginia Geriatrics Annual Conference (VGS), USA; 18th Annual Oregon Geriatrics Society Conference (OGS), USA; 13th  European Union Geriatric Medicine Society Congress (EUGMS), France; 21st International Association of Gerontology and Geriatrics World Congress (IAGG), USA; 46th British Society of Gerontology Annual Conference, UK; American Geriatrics Society Annual Scientific Meeting, USA; Meeting of the Gerontological  Society of America, USA.

Conferences Hosted by Private Organizations:

2nd International Conference on Aging and Gerontology, June 26-28, 2017 San Diego, CA, USA; 2nd Interventions in Aging Conference, Mexico; 2nd Congress of Cardiovascular Prevention in Pre-Elderly and Elderly Individuals, Austria; 7th International Conference on Frailty and Sarcopenia Research, Spain; 2nd International Disease and Aging Conference, USA; 4th World Parkinson Congress, USA; 8th International Gerontology and Geriatric Medicine  Conference, USA; 3rd International Conference on Palliative Care and Hospice, USA; 6th International Conference on Vascular Dementia, Netherlands; Asia Pacific Geriatrics Conference; American Geriatrics Society Annual Scientific Meeting, USA; Second International   Disease and Aging Conference, USA; 4th World Parkinson Congress, USA; International Federation on Ageing - 13th Global Conference Disasters in an Ageing World - Readiness, Resilience and Recovery, Australia; 14th International Athens/Springfield Symposium on Advances in Alzheimer Therapy, Greece.

Source: Primary Research, Government Publications, and Aging 2017 Internal

Conclusion: Aged care market has lot to offer for the special geriatric service providers who are capable to run long-term as well as short-term aged care home, nutraceutical manufacturers, pharmaceutical manufacturers, senior care furniture manufacturers and real estate companies. It has already made an impact in developed countries like USA, Canada, and Australia. The aged care market is gaining its popularity in the developing countries like China, Singapore and India, as the major proportion of population is above 65 years. With this increasing growth of market the dissemination of knowledge could occur only through international meetings and conferences, 2nd International Conference on Aging & Gerontology happening during June 26-27, 2017 at San Diego, California USA would address the recent advancements happening in this field with a series of key Note, Plenary sessions, Workshops, Symposiums and discussions represented by renowned speakers from more than 40 nations.