Global Geriatric Care Services Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

• In March 2022, Alexion, AstraZeneca’s Rare Disease group, closed an exclusive global collaboration and license agreement with Neurimmune AG for NI006, an investigational human monoclonal antibody currently in Phase Ib development for the treatment of transthyretin amyloid cardiomyopathy (ATTR-CM), an underdiagnosed, systemic condition that leads to progressive heart failure and high rate of fatality within four years from diagnosis.

• In January 2022, Century Therapeutics and Bristol Myers Squibb announced a research collaboration and license agreement (the Agreement) to develop and commercialize up to four induced pluripotent stem cell (iPSC) derived, engineered natural killer cell (iNK) and/or T cell (IT) programs for hematologic malignancies and solid tumors. The first two programs include a program in acute myeloid leukemia and a program in multiple myeloma, which could incorporate either the iNK or a gamma delta iT platform. Bristol Myers Squibb has the option to add two additional programs which can be nominated subject to certain conditions agreed with Century in the agreement.

• In August 2020, Happiness Biotech Group Limited, an innovative China-based nutraceutical and dietary supplements producer launched a new category of products in the personal care segment under the new brand Cai Zhi Ning mainly targeting the elderly market.

A spectrum of offerings caters to the multifaceted needs of seniors, encompassing medical care, assisted living, rehabilitation, home healthcare, and more. Medical care services form a cornerstone, encompassing primary care, specialist consultations, diagnostic assessments, and treatment interventions tailored to age-related health conditions such as chronic diseases, cognitive impairments, and mobility issues. Assisted living facilities provide seniors with accommodation, personal assistance, and support services, promoting independence while ensuring safety and well-being. Rehabilitation services play a vital role in restoring function and improving quality of life following illness, injury, or surgery, encompassing physical therapy, occupational therapy, speech therapy, and specialized programs for conditions like stroke or joint replacement.

Home healthcare services enable elderly individuals to receive personalized care within the comfort of their homes, encompassing skilled nursing, medication management, wound care, and assistance with activities of daily living. Palliative care and hospice services focus on enhancing the quality of life for seniors with advanced illnesses, prioritizing symptom management, comfort, and emotional support for both patients and their families. Additionally, geriatric mental health services address the complex interplay of psychological, emotional, and social factors impacting seniors' mental well-being, offering counseling, therapy, and psychiatric care tailored to their unique needs.

Global Geriatric Care Services Segment Analysis

In this report, the Global Geriatric Care Services Market has been segmented by Services and Geography.

Global Geriatric Care Services Market, Segmentation by Services

The Global Geriatric Care Services Market has been segmented by Services into Institutional Care Services, Adult Care Services and Home Care Services.

Institutional Care Services encompass nursing homes, assisted living facilities, and hospices, providing round-the-clock care and support for elderly individuals who require intensive medical attention or assistance with activities of daily living. These facilities offer a structured environment where residents receive personalized care from trained professionals, including nurses, caregivers, and medical specialists. Institutional care ensures access to medical supervision, rehabilitation services, social activities, and nutritional support, promoting overall health and comfort for elderly individuals with complex care needs.

Adult Care Services, also known as day care or adult day services, cater to seniors who require supervision and socialization during the day while allowing them to reside in their own homes or with family members. These services offer a safe and stimulating environment where older adults can participate in recreational activities, socialize with peers, receive meals, and access basic healthcare services. Adult care centers often serve as a respite for family caregivers, providing them with much-needed relief and support while ensuring the well-being of their loved ones.

Home Care Services represent a growing segment within the geriatric care market, offering personalized assistance and support to elderly individuals within the comfort of their own homes. These services encompass a wide range of offerings, including personal care, companionship, medication management, meal preparation, housekeeping, and transportation assistance. Home care providers work closely with clients and their families to develop customized care plans tailored to individual needs and preferences, enabling seniors to maintain independence and age in place while receiving the necessary support to enhance their quality of life.

The demand for geriatric care services is driven by demographic trends, including population aging and increasing life expectancy, coupled with changing family structures and healthcare preferences. As the elderly population continues to grow globally, there is a rising need for comprehensive and accessible care solutions to meet the evolving needs of aging individuals and their families. Advancements in technology, such as telehealth and remote monitoring, are reshaping the delivery of geriatric care services, offering innovative solutions to improve access, efficiency, and outcomes for older adults.

Global Geriatric Care Services Market, Segmentation by Geography

In this report, the Global Geriatric Care Services Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Global Geriatric Care Services Market Share (%), by Geographical Region, 2024

North America, comprising the United States and Canada primarily, represents one of the largest markets for geriatric care services globally. Factors such as a rapidly aging population, advanced healthcare infrastructure, robust reimbursement frameworks, and a high prevalence of chronic diseases drive the demand for geriatric care services in this region. Moreover, evolving care models emphasizing home-based and community care further propel market growth.

In Europe, characterized by countries such as the United Kingdom, Germany, France, and Italy, the geriatric care services market is influenced by an aging population, government initiatives to promote aging in place, and a strong emphasis on quality care standards. The region witnesses a growing trend towards integrated care approaches, fostering collaboration between healthcare providers, social services, and community organizations to deliver comprehensive care solutions tailored to the needs of older adults.

The Asia Pacific region, encompassing countries like China, Japan, India, and Australia, presents immense growth opportunities driven by rapid urbanization, demographic shifts, and increasing healthcare expenditure. In this diverse region, cultural norms, socioeconomic factors, and varying healthcare infrastructure levels influence the provision and utilization of geriatric care services. Emerging economies are witnessing a rising demand for long-term care solutions, spurring investments in nursing homes, assisted living facilities, and home-based care services.

In the Middle East and Africa, countries such as Saudi Arabia, South Africa, and the United Arab Emirates are witnessing a demographic transition marked by a growing elderly population. The market is characterized by a mix of public and private sector involvement in geriatric care provision, with a focus on addressing the unique healthcare needs of older adults amidst socioeconomic challenges and infrastructure limitations.

Latin America, including nations like Brazil, Mexico, and Argentina, experiences demographic aging alongside evolving healthcare systems. The region exhibits a growing awareness of the importance of geriatric care services, driven by rising chronic disease burden, increasing healthcare access, and government initiatives to improve elder care infrastructure and quality of life.