Geriatric Medicines Market size is estimated to reach $1.5 billion by 2027 – IndustryARC
Geriatric Medicines Market size is estimated to reach $1.5 billion by 2027, growing at a CAGR of 6.5% during the forecast period 2022-2027
HYDERABAD, TELANGANA, INDIA, August 31, 2022 /EINPresswire.com/ — Geriatric Medicines Market size is estimated to reach $1.5 billion by 2027, growing at a CAGR of 6.5% during the forecast period 2022-2027. Geriatrics, or geriatric medicine is a specialty that aims attention at the health care of elderly people. It targets to advance health by avoiding and treating ailments and disabilities in the elderly population. Delirium in geriatric medication is associated with anticholinergic concerns.
Key takeaways:
1. Geographically, North America Geriatric Medicines Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the increasing predominance of different incessant ailments like obesity and diabetes requiring the application of statins and the existence of a very large population of baby boomers in the U.S. requiring effective treatment in the North American region.
2. Geriatric Medicines Market growth is being driven by the increasing geriatric population aged 65 years and above and the rising pervasiveness of many target ailments like obesity requiring the application of statins in the geriatric population. However, the dearth of geriatric care centers in rural areas is one of the major factors hampering the growth of the Geriatric Medicines Market.
3. Geriatric Medicines Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Geriatric Medicines Market report.
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Segmental Analysis:
1. The Geriatric Medicines Market based on therapeutic category can be further segmented into Analgesics, Antidiabetics, Antihypertensives, Antidepressants, and Others.
2. The Cardiovascular segment held the largest market share in 2021. This growth is owing to the increasing predominance of cardiovascular disease in the geriatric population. Antipsychotics are widely used in the treatment of geriatric psychiatric ailments.
3. The growth of this region is owing to the existence of an enormous geriatric population and a well-established compensation scenario in the North American region. Antipsychotics are widely applied to geriatric psychiatric ailments.
Competitive landscape:
The top 5 players in the Geriatric Medicines industry are:
1. Endo Pharmaceuticals Inc.
2. Merck & Co. Inc.
3. AstraZeneca PLC
4. Pfizer Inc.
5. Allergan (AbbVie)
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Relevant Reports:
A. Geriatric Care Services Market
https://www.industryarc.com/Research/Geriatric-Care-Services-Market-Research-504006
B. Geriatric Care Devices Market
https://www.industryarc.com/Research/Geriatric-Care-Devices-Market-Research-501818
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