Globally Geriatric Medicines Market: Overview
TMR’s report on the global geriatric medicine market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2019 to 2027. The report provides revenue of the global geriatric medicine market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global geriatric medicine market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global geriatric medicine market.
Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global geriatric medicine market.
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Geriatric Medicines Market: Trends and Opportunities
According to Transparency Market Research’s latest report on the global geriatric medicine market for the historical period 2017–2018 and forecast period 2019–2027, rise in chronic diseases, increase in governments and NGOs supports for elderly and technological advancement for medication assistance are projected to drive the global geriatric medicine market during the forecast period
According to the report, the global geriatric medicine market was valued at US$ 672.0 Bn in 2018 and is anticipated to expand at a CAGR of 6.9% from 2019 to 2027
Increase in global geriatric population and Surge in Programs by Governments and NGOs to support Elderly Patients: Key Drivers
Rise in geriatric population has led to an increase in the incidence and prevalence of chronic diseases. According to the World Health Organization (WHO), people over the age of 65 form the fastest-growing population segment globally. The proportion of the world’s population over 60 years is expected to double from about 11% to 22% between 2000 and 2050.
Stroke is a leading cause of death in the U.S. According to the Centers for Disease Control and Prevention (CDC), stroke claims one fatality every 40 seconds in the U.S. and about 795,000 people become victims of stroke (85% acute ischemic) each year. About 610,000 of these are first or new strokes, and 185,000 are recurrent strokes.
The global geriatric medicines market is expanding at a significant growth rate due to increasing government support toward old people for their health, safety, and nursing care. The Federal Long Term Care Insurance Program in the U.S. is a favorable policy for the elderly people, which covers almost all the medical care/cost of people in the U.S. Likewise, the Long-Term Care Ombudsman Program provides nursing homes, residential care facilities, and assisted living facilities for elderly people in the U.S.
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The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global Geriatric Medicines market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global Geriatric Medicines market.
Global Geriatric medicine Market: Competitive Landscape
This report profiles major players in the global geriatric medicine market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global geriatric medicine market is highly fragmented, with the presence of a number of international as well as regional players
Leading players operating in the global geriatric medicine market are
- Pfizer, Inc.
- Merck & Co., Inc.
- Bristol-Myers Squibb Company
- Novartis AG
- Sanofi S.A.
- GlaxoSmithKline plc Eli Lilly and Company
- Abbott Laboratories
- Boehringer Ingelheim GmbH
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Our data repository is continuously updated and revised by a team of research experts so that it always reflects latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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