Geriatric Medicine Market Insights:
The Geriatric Medicine Market size was valued at USD 892.35 Billion in 2022, expecting a CAGR of 6.7% during the forecast period (2023-2030), and the market is projected to be worth USD 1403.71 Billion by 2030.
The increased adoption of Geriatric Medicine in the Pharmaceuticals industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Geriatric Medicine also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Geriatric Medicine in many sectors also boosts the market growth during the forecast period.
Geriatric medicine, also known as geriatrics, is a medical specialty that focuses on the health and care of older adults. This specialty involves the diagnosis, treatment, and prevention of health conditions and diseases that commonly affect older adults, such as dementia, osteoporosis, and cardiovascular disease. Geriatric medicine also involves addressing the unique medical, social, and emotional needs of older adults, including the challenges of managing multiple chronic conditions, medication management, and end-of-life care.
Geriatric Medicine Market Research Report” was just released by Market Research Community. It is divided into several categories, including By Therapeutics (Analgesic, Antihypertensive, Statins, Antidiabetic, PPI), By Condition (Cardiovascular, Arthritis, Neurological, Cancer), By Route of Administration (Oral, Parenteral, Others), and companies (GlaxoSmithKline PLC, Novartis AG, Pfizer Inc., Sanofi S.A., Bristol-Myers Squibb Company, Boehringer Ingelheim GmbH, Merck & Company Inc., Abbott Laboratories Inc., Eli Lilly & Company, AstraZeneca PLC), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 6.7%, over the forecast period of 2023–2030.
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||1403.71 Billion|
|By Therapeutics||Analgesic, Antihypertensive, Statins, Antidiabetic, PPI|
|By Condition||Cardiovascular, Arthritis, Neurological, Cancer|
|By Route of Administration||Oral, Parenteral, Others|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||GlaxoSmithKline PLC, Novartis AG, Pfizer Inc., Sanofi S.A., Bristol-Myers Squibb Company, Boehringer Ingelheim GmbH, Merck & Company Inc., Abbott Laboratories Inc., Eli Lilly & Company, AstraZeneca PLC|
The COVID-19 pandemic has had a substantial negative influence on the Geriatric Medicine market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
GlaxoSmithKline PLC, Novartis AG, Pfizer Inc., Sanofi S.A., Bristol-Myers Squibb Company, Boehringer Ingelheim GmbH, Merck & Company Inc., Abbott Laboratories Inc., Eli Lilly & Company, AstraZeneca PLC
Market Segment Analysis:
By Route of Administration
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2022, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Geriatric Medicine industries in the region.
Key Geriatric Medicine Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Geriatric Medicine Market segments.
– Largest Market Share Held by Industry to Industry for Geriatric Medicine
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Geriatric Medicine Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
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