Published on : Apr 26, 2018
Albany, New York, April 26, 2018: It is well-known that geriatric population are highly prone to various diseases. Therefore, a number of governments are taking initiatives to promote geriatric care and specialty clinics are mushrooming. A recent business and commerce study has been broadcasted to the wide repository of Market Research Hub (MRH), which has detected that the geriatric medicine has opened a niche for the major pharmaceutical companies, and there is a strong potential for the market in the coming years. The study is titled as “Geriatric Medicines Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2023” which provide wide-ranging insights into the market current scenario and future growth prospects during the mentioned forecast period of 2017-2025.
For accurate results, the global market growth has been analyzed in terms of revenue and volume estimates (in US$ Mn and Thousand Units), across different geographies such as North America, Europe, Asia-Pacific, Middle East and Africa and Latin America. According to the research key findings, the demand in the global geriatric medicine market will propagate at a daunting CAGR of 7.27% during the forecast period.
Market Insights and Growth Dynamics
• Geriatric medicines are a specialty branch of medical science that provides customized diagnostics and treatment options for the elderly, and the market for the same is flourishing. The research report examines that in terms of revenue, opportunities in the global geriatric medicine market is estimated to translate into US$ 948,005.3 mn by the end of 2023.
• There are various factors and drivers contributing toward this market growth. In the market overview section, the study analyzes market dynamics such as drivers, restraints, and opportunities that influence the geriatric medicines market in the current and future scenario. As mentioned, there will be 1.4 billion people aged over 60 years in the World by 2030. Due to this, proper care is a necessity. Presently, cardiovascular and arthritis segments are the two segments that are constituting for the most prominent chunk of demand.
• Moreover, the research has been categorized into various segments and sub-segments for in-depth analysis. The market has been broadly segmented on the basis of condition (Cardiovascular, Arthritis, Neurological, Cancer, Osteoporosis, Respiratory and Others), therapeutic category (Analgesic, Antihypertensive, Statins, Antidiabetic, Proton Pump Inhibitor, Anticoagulant, Antipsychotic, antidepressant and others). As per the findings, analgesic and antihypertensive have been identified as the two segments of geriatric medicine market that are showing greatest promise.
• On the basis of geography, North America and Europe are the prime regions in terms of revenue for the players in the global geriatric medicine market.
Moving further, some of the prominent players in geriatric medicines market are also profiled in the study. They are Novartis AG, Abbott Laboratories, Inc., Merck & Company Inc., GlaxoSmithKline Plc., AstraZeneca plc, Boehringer Ingelheim GmbH, Bristol-Myers Squibb Company, Eli Lilly and Company, Pfizer, Inc., Sanofi S.A.
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