Soaring Geriatric Demographic & Sophisticated Technology Buttress Geriatric

Posted by Deeksha on January 14th, 2019

Governments’ relentless pitch for all-round assistance for geriatric people along with technological advancements aimed at ameliorating medical assistance has underpinned the geriatric medicines market. One of the insurance programs in the United States named as the Federal Long Term Care Insurance Program has aptly incorporated near-to-full medical cost of the Americans. Factors such as longer life-expectancy, aging demographic, swelled awareness and adoption of sophisticated therapeutics are prophesized to propel the geriatric medicines market. These insights are in line with the report titled, “Geriatric Medicines Market—Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2026,” which has been lately incorporated in the repository of Market Research Hub (MRH). In terms of revenue, geriatric medicines market is anticipated to register CAGR of over 6% during the assessment period.

Spreading hospital base coupled with soaring footprints for chronic disorders treatment are expected to fuel the demand for geriatric medicines. Further, ever increasing obese demographic prone to chronic diseases is set to spur the market during the assessment period.

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On the backdrop of sophisticated healthcare technologies and greater purchasing power, North America reigns the geriatric medicines market. Long Term Care Ombudsman Program (LTCOP) dispenses residential care facilities, nursing homes and assisted living facilities which has underpinned geriatric medicines market. In addition, rigorous research and development activities for build-out of new therapies have bolstered market for geriatric medicines. On the other hand, owing to escalating government support and thriving healthcare infrastructure, Asia Pacific is projected to witness a robust expansion of geriatric medicines market.

However, likely chances of harmful drug reaction coupled with fewer geriatricians are some of the roadblocks in the growth of geriatric medicines market. Besides, less number of patient participation in clinical trials further hamper the market.

Geriatric Medicines Market: Report Content

The report elucidates a comprehensive analysis of the geriatric medicines market delineating qualitative and quantitative assessment of the market. The report incorporates drivers, opportunities, restraints and trends shaping dynamics of the market. Further, the report segregates the geriatric medicines market to provide readers with insights to assist them in making assessment of the market. The report segments market on the basis of therapeutic category, condition, distribution channel and region.

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The final section includes the competitive landscape to provide a dashboard view incorporating financial overview, company profile and product portfolio, SWOT analysis and strategies. Some of the prominent players delineated in the report are Merck & Co., Abbott Laboratories, Novartis and Pfizer, to name a few.

Geriatric Medicines Market: Research Methodology

The report provides research methodology incorporating secondary and primary research. The analysis in the report is on account of secondary research, primary interviews and reviews by expert panel. The report has been prepared on the basis of absolute dollar analysis which has often been overlooked. Growth rates delineated in the report are the result of rigorous assessment of demographics, past trends, future trends, regulatory requirements and technological advancements.

The secondary research include trade journals, stock analysis presentation, financial reports, SEC filings, company websites, Factiva, statistical database and industry white paper. Besides, it also incorporates national government documents, press releases, news articles and internal & external proprietary databases. The primary research incorporate surveys, e-mail interaction, interviews analysis of seasoned analyst, trade associations and phonic interviews.  To provide the readers with an honest report, expert panel assesses the data collated from different sources.