Geriatric medicines are in high demand as they are used in the prevention, diagnosis, and the treatment of diseases affecting the elderly population. In a report, titled “Geriatric Drugs and Disease Management Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024,” Transparency Market Research (TMR) forecasts strong growth for the market. The rising geriatric population, coupled with the increasing incidence of chronic ailments affecting them, has been a chief driver of the global geriatric drugs and disease management market.
The report provides a detailed assessment of the various factors influencing the market’s growth. It also includes various recommendations for the companies operating in the market to prevent the impact of adverse socio-economic factors. Thus study therefore compiles exhaustive information intended at helping stakeholders get a better perspective of the global geriatric drugs and disease management market.
Download exclusive Brochure of this report:
The prevalence of cardiac conditions, cerebral disorders, and other metabolic disorders are more common among the geriatric population. As per observation published by United Nations in a report, titled “World Population Aging” in 2013, the elderly population accounted for almost 11.7% of the global population in 2013 as compared to the 9.2% in 1990. The report further forecasts the number to reach over 21.1% by the end of 2050. Furthermore, the geriatric population is likely to reach more than 2 billion before 2050 ends.
As per studies, almost 62% of the geriatric population aging between 50 years and 64 years suffer from at least one of the six chronic conditions such as high cholesterol, diabetes, arthritis, cancer, and heart disease. The prevalence is even higher among population aged 70 years and above, thus demanding continuous care and management.
Besides the high prevalence of chronic ailments among geriatric population, the global geriatric drugs and disease management market is also gaining from the technological advances such as innovative surgical techniques, novel drug delivery technologies, and advanced monitoring equipment, which have increased the medical care options for aged people.
Browse Global strategic Business report:
All these factors are contributing in accelerating the demand for geriatric drugs and disease management. TMR has listed some of the common drugs, which are administered to the geriatric population for diverse treatment purposes. These include anti-anxiety, ACE inhibitors, anti-depressants, aldosterone antagonists, anti-diabetics, diuretics, anticonvulsants, vasodilators, and respiratory agents. Furthermore, benefits offered by nutraceuticals also hold promise for the market’s growth in the near future. Meanwhile disease management comprises services such as nutritional care, advanced care planning, sleep management, home care services, and socialization programs.
Organizations such as GGNSC Holdings LLC, UAS Laboratories, Geriatric & Medical Companies, Inc., and Senior Care Centers of America are a few prominent players in the global geriatric drugs and disease management market. Their contribution to the market in terms of strategies adopted is likely to have a profound impact on the market’s growth trajectory.