Geriatric Care Services – Ageless Care
Aging increases the risk of chronic diseases such as diabetes, cardiac disorders, arthritis, and respiratory disorders that require continuous monitoring. Also, aging decreases bone density that makes it a challenge for the geriatric population to continuously manage their medical needs and perform their daily activities. Hence, the need for geriatric care services arises, which to a great extent eases the life of the elderly population. Increasing need for continuous health assistance by the elderly population is driving demand for continuing care.
The global geriatric care services market was valued at US$ 599.6 million in 2015 and is expected to expand at a CAGR of 4.2% during the forecast period (2016 – 2024).
Get Free Sample Report @ https://www.coherentmarketinsights.com/insight/request-sample/88
Growing elderly population base driving the growth of geriatric care services market
Population aged 65 years and above is expected to grow more than 60% during the 2015-2030 (U.S. Census Bureau, 2015). The study estimates that the highest growth would be in Asia and Latin America. Africa on the other hand is the youngest region as of 2015 and is expected to remain so in the near future. Therefore, growth of elderly care in respective regions is estimated to follow a similar trend. However, affordability is one factor that would have negative impact on the growth of geriatric care services market in emerging economies such as India, Brazil, and China. Therefore, service providers need to offer cost-effective products in order to attract the relatively cost-sensitive customers in these countries.
Increasing range of services by geriatric care centers
Geriatric care centers has evolved from being mere psychological support to nursing care and supervision. Geriatric care centers have well-trained specialists for different geriatric care needs. Services include health planning, problem-solving, health assessment and monitoring, home-care services, and personal care assistance. Furthermore, the providers of geriatric care services help customers to choose the most appropriate insurance policies as per their individual needs. The geriatric care managers also offer counseling and support, crisis intervention, decisions regarding appropriate housing options, money management, and assistance with moving an elderly to or from different types of housing. LivHome Technology+, by LivHome, Inc., addresses the safety issues, enables social engagement, and medication support. The company has LivHome Connect that includes 24 hour Active Remote Care (ARC) from in-house licensed nurses to the patients in need.
Get Free Request Customization @ https://www.coherentmarketinsights.com/insight/request-customization/88
Growing demand for continuing care
Geriatric care centers provide services include home healthcare, assisted living facilities, adult day care services, continuing care recruitment, and skilled nursing facilities. Skilled nursing facilities and home healthcare are the major revenue contributors for providers, owing to involvement of more time and workforce in these service types. However, demand for continuing care is increasing rapidly. Elderly population is highly prone to injuries, and therefore require continual care. Also, increasing women labor workforce participation has led to increase in demand for continuing care. The continuing care service type segment is projected to develop at a CAGR of 4.6% during the forecast period (2016-2024).
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. Our client base includes players from across all business verticals in over 150 countries worldwide. We are uniquely positioned to help businesses around the globe deliver practical and lasting results through various recommendations about operational improvements, technologies, emerging market trends and new working methods. We offer both customized and syndicated market research reports that help our clients create visionary growth plans to provide traction to their business. We meticulously study emerging trends across various industries at both the global and regional levels to identify new opportunities for our clientele. Our global team of over 100 research analysts and freelance consultants provide market intelligence from the very molecular country level and also provide a global perspective of the market. Our team is of the most vital cog in our robust machinery that gives us the ability to deliver independent insight relying on our cognitive defusion training module.This allows for an objective and unbiased assessment of the market. We pride ourselves in my constantly striving to update our extremely in-depth understanding of the market by closely monitoring and analyzing markets, trends, and emerging best practices, across allfathomable industries under the sun. This enables us to equip our valued clientele with key decisive inputs to capitalize on lucrative growth opportunities in the market and to follow firmly position themselves on a high growth path in the future.
Coherent Market Insights
1001 4th Ave, #3200
Seattle, WA 98154
Visit Blog: http://healthcaremarketconsulting.blogspot.in/