The geriatric medicines market is estimated to grow at a significant CAGR during the forecast period. The primary factor related to the growth of the market is a steep increase in the elderly population across geographical locations, primarily in developed and emerging economies. Besides, the increasing prevalence of chronic disorders, like cancers, diabetes, and rheumatoid arthritis among the geriatrics attributes for the propel of the market. For instance, as per the US data of World Population Prospects for the year 2019, the number of people over the age of 65 raised from 9% in 2019 to more than 16% of the total world’s population by 2050. The number of persons aged 80 years or over is also anticipated to triple, from 143 million in 2019 to 426 million in 2050. Therefore, the increase in the volume of the patient pool results in a higher demand for the market boosting the global market growth over the forecast period.
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The analgesics segment is estimated to account for the most remarkable revenue over the forecast period as it is the most common indication with a high happening pain-related syndrome in the elder age. This dominance is due to the occurrence of various reasons, like osteoporosis, lack of musculoskeletal strength, vision impairment, and unintentional falls leading to uncontrollable pain in that age.
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Market Coverage
- Segment Covered-
o By Therapeutic Category
o By Condition
- Competitive Landscape: Endo Pharmaceuticals Inc., Merck & Co. Inc., AstraZeneca PLC, Pfizer Inc., and Allergan Inc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Geriatric Medicine Market by Segment
By Therapeutic Category
- Analgesics
- Antidiabetics
- Antihypertensives
- Antidepressant
- Other Therapeutic Categories
By Condition
- Cardiovascular Diseases (CVDs)
- Diabetes
- Neurological
- Cancer
- Respiratory
- Others (Arthritis and Osteoporosis)
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