Global Geriatric Drugs and Disease Management Market: Overview
Geriatrics is a fast emerging medical specialty that deals with the diagnosis, treatment, and prevention of diseases in the elderly population, with the key aim to promote their well-being. The population usually consists of patients aged 60 years and above. The domain of geriatric drugs and disease management is rapidly emerging given the variety of specialized medical needs older adults have and their rapid rising population.
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The growing number of drug-disease interactions arising out of the prominent practice of pharmacotherapy in elderly population has led the medical specialty to play an increasingly vital role in elderly care world over.
The needs of the older adults population is ever-evolving and span multiple aspects. The clinical area include the need for ensuring functional dependence to help them fuller lives despite the presence of chronic diseases. The various disciplines of the diseases management in elderly are nutritional care, socialization programs, home care services, and sleep management. With the geriatric population rising at swift pace in emerging and developed economies, the horizon of the global geriatric drugs and disease management is expanding at an attractive pace over the forecast period of 2016–2024. The market dynamics in increasingly being governed by the prevailing regulatory framework and healthcare provisions in various nations.
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The report offers evidence-based insights into the various clinical trends, key technological advances, and the governmental regulations and assesses the impact they make over the forecast period.
Global Geriatric Drugs and Disease Management Market: Trends and Opportunities
The rising prevalence of a wide spectrum of chronic among elderly populations has propelled the demand for geriatric drugs and disease management across the globe. The rising incidence of neurodegenerative diseases in older adults and the morbidity these bring on the population is fueling the market growth. The widely prevalent trend of polypharmacy which consists of elderly population taking multiple drugs or medications more than what is required is supporting the rapid expansion of the market.
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The growing adoption of systematic approach in managing drug therapy in geriatric augurs well for the market. The formulation of effective disease management strategies tuned to patient’s specific goals is a notable factor that favorably impacts the growth of the market. The growing incidence of metabolic disorders and ailments such as diabetes and hypertension is also boosting the growth of the geriatric drugs and disease management market.
The market is immensely benefitting from medical device manufacturers’ efforts in introducing advanced monitoring equipment. Recent advancement in novel drug delivery technologies is catalyzing the expansion of the market. Substantial advances are being made in the area of novel drug delivery technologies, which has a considerable impact on elderly population. Innovations in surgical techniques have led to the reduction of hospitalization time and helped with the swift expansion of the market.
Global Geriatric Drugs and Disease Management Market: Regional Outlook
World over, several emerging and developed countries are expected to present substantial lucrative avenues in the market. Of all the regions, North America and Europe are expected to rise at an attractive pace given the appetite of novel therapies the regional healthcare systems. The presence of favorable reimbursement scenario in these regions is supporting the attractive expansion of the market. Meanwhile, Emerging economies such as those in the Asia Pacific are also anticipated to witness substantial demand for geriatric drugs and disease management. This is attributed mainly by high discretionary spending made by elderly population for the upkeep of their health.
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Companies mentioned in the report
The report presents a critical assessment of the prevailing and emerging competitive dynamics. It offers a detailed profiling of various companies, their recent innovative product launches, and the key strategies adopted by them to get a firm foothold in the market. Some of the prominent players operating in the market are Geriatric & Medical Companies, Inc., Senior Care Centers of America, Inc., GGNSC Holdings LLC, and UAS Laboratories.
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