Valuation in Geriatric Medicines Market to Reach US$ 1142.8 Bn by 2027, Use in Managing Cardiovascular Diseases Spurs Growth: TMR

- Various medication assistance technologies help elderly in ensuring medication adherence, chronic disease prevalence presents incredible avenue

- Rising burden of strokes and other heart diseases makes cardiovascular disease lucrative segment, governments frame policies for elderly care

ALBANY, N.Y., July 12, 2021 /PRNewswire/ -- Geriatrics care has made enormous strides over the past few decades. Rapidly aging populations notably in some emerging economies and developed nations around the world has made this a public health concern. The elderly population is more prone to complex psychological and neurological conditions. The aspect has brought a large number of players, drugmakers and healthcare providers, to put greater emphasis on the health needs of elderly populations. The prevalence of chronic diseases among people aged more than 60 years and high awareness among them to seek formal medical care have been factors contributing to the demand in the geriatric medicines market.

Governments worldwide have intensified their focus on meeting the medical needs of elderly population. Stridently, a number of favorable healthcare policies have been implemented toward this end. The geriatric medicines market is projected to garner CAGR of 6.9% during the forecast period of 2019 – 2027. By the period-end, the valuation is expected to touch a whopping US$ 1142.8 Bn.

Request for Analysis of COVID-19 Impact on Geriatric Medicines Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=2445

Key Findings of Geriatric Medicines Market Study

• Rapidly Aging Populations Spells Growth: By 2030-end, older persons will outnumber children aged 0-9 years, surpass the mark of 1.4 billion, per a report by United Nations titled 'World Population Ageing'. This makes the need for improving healthcare infrastructure more pressing. Governments especially in developed regions and in recent years in emerging economies are leaning on long term care for geriatrics. Such initiatives have underpinned the strides of global geriatric medicines market. A case in point is the promotion of generic medicines by the Indian Government in the past few years. This has helped reduce the economic burden of people in general.
• New Technologies for Medication Assistance Gains Adoption: Seniors usually miss taking their pills on time, leading to poor medication adherence. Poor compliance among geriatrics is a major concern from several aspects. Apart from adverse outcomes, it also leads to medication wastage, increasing the cost of healthcare. Smart pill bottles and other similar technologies send timely reminders to address these concerns. Given the fact that they usually need to take multiple medications for fighting recurrent conditions, the need for medication assistance through technology is huge. Elderly people are reminded on time to take each medicine on time. Thus, healthcare providers have collaborated with pharmacies to gather data on compliance with smart technologies. 

See how you can be a leader in Geriatric Medicines Market with our research report, get brochure at - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2445

• Prevalence of Chronic Diseases Attracts Attention of Healthcare Systems: Burden of chronic conditions and non-communicable diseases rise with age. Geriatric population have been highly vulnerable to chronic conditions such as diabetes mellitus, arthritis, neurodegenerative disorders, gastrointestinal conditions, genitourinary, and respiratory disorders. Of the various conditions, the risks of cardiovascular diseases have been found to be considerably high. They are more prone to adverse events from heart diseases. Another lucrative segment is medications used as painkillers, notably analgesics.

Hence, they need to adhere to long term medication. Further, public health systems should continue making advancements to increase awareness about the overdoes of certain drugs, notable of which are NSAIDs and opioids. These trends have been expanding the canvas for drugmakers in the geriatric medicines market. This has propelled the demand for medications to fight off the risks.

Purchase Premium Research Report on Geriatric Medicines Market - https://www.transparencymarketresearch.com/checkout.php?rep_id=2445&ltype=S

Geriatric Medicines Market: Key Drivers

• Strides in elderly care infrastructure in developing economies underpin growth in geriatric medicine market
• Growing awareness about medications to reduce chronic disease burden to propel future growth
• Rise in public health spending on generic drug manufacturing makes medications more affordable, thereby boosting the market prospects

Geriatric Medicines Market: Key Participants

• AstraZeneca
• Boehringer Ingelheim GmbH
• Novartis AG
• Sanofi S.A.
• GlaxoSmithKline plc Eli Lilly and Company
• Bristol-Myers Squibb Company
• Pfizer, Inc.

Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:

Thoracic Drainage Devices Market: Patient preference for minimally-invasive surgeries, high prevalence of cardiovascular diseases, and increase in the burden of spontaneous pneumothorax are factors driving the thoracic drainage devices market. Moreover, surge in thoracic surgeries, cardiothoracic surgeries, and cardiovascular surgeries contributes to the growth of the market.

Radiation Dose Management Market: Growing cases of chronic diseases such as cancer and cardiovascular diseases are propelling demand for radiation dose. Moreover, rising safety concerns regarding use of radiation, improvement in quality of patient care, and growing number of diagnostics screening tests are some of the key factors driving the global radiation dose management market

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision."

Browse More Upcoming Reports by Transparency Market Research: https://www.transparencymarketresearch.com/upcoming.htm

Contact

Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com 
Press Release Source: https://www.transparencymarketresearch.com/pressrelease/geriatric-medicine-market.htm 
Website: https://www.transparencymarketresearch.com/

Logo: https://mma.prnewswire.com/media/1085206/Transparency_Market_Research_Logo.jpg