Geriatric Care Services Market to Grow with a CAGR of 6.05% through 2030

Aging Population Demographics and Preventive Health Care are expected to drive the Global Geriatric Care Services Market growth in the forecast period, 2026-2030

According to TechSci Research report, “Geriatric Care Services Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the Global Geriatric Care Services Market stood at USD 1146.78 Million in 2024 and is anticipated to grow with a CAGR of 6.05% in the forecast period, 2026-2030.

The growth of the geriatric care market can largely be attributed to favorable long-term reimbursement policies that have made high-quality senior housing and healthcare services more financially accessible. These policies allow families to secure essential care and accommodations for their elderly relatives, fueling industry expansion. Additionally, cultural competence has become a critical component of geriatric care, with an increasing emphasis on diversity training to ensure care providers respect and accommodate the cultural backgrounds and beliefs of older adults.

The global geriatric care market was notably impacted by the COVID-19 pandemic, which heightened the demand for healthcare management, home care, and nursing services, particularly for older adults who were more vulnerable to the virus. This vulnerability, coupled with concerns about the risks associated with communal living in nursing homes and assisted living facilities, drove many families to opt for home care services. This shift toward home-based care created new opportunities for agencies and caregivers to offer personalized, safer alternatives to traditional long-term care settings.  The pandemic also served as a catalyst for innovation within the geriatric care industry, leading to the development and widespread adoption of technology-driven solutions. These included remote monitoring devices, emergency assistance gadgets, wearable health trackers, and communication platforms—all of which became essential in ensuring the safety and well-being of older adults with minimal physical contact.

Further driving the market’s expansion is the increasing prevalence of age-related health conditions such as neurological disorders, cancer, cardiovascular diseases, arthritis, and Alzheimer’s disease, which necessitate more specialized care. Recent studies, including a systematic review of over 30 studies on mild cognitive impairment (MCI), suggest that approximately 17% of individuals aged 65 and older experience MCI, with newer research indicating that up to 22% of the elderly population may be affected. These conditions, coupled with advancements in robotic technologies designed to assist the elderly in daily activities, are expected to significantly boost demand for geriatric care services in the coming years. With Alzheimer’s disease and MCI increasingly affecting millions of older Americans, the market is poised for substantial growth driven by a rising elderly population in need of comprehensive care solutions.

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The Global Geriatric Care Services Market is segmented into services, regional distribution, and company.

Based on its services, the Adult care service segment is poised to witness fastest market growth in the Global Geriatric Care Services Market in 2024,  The global increase in life expectancy, particularly in developed regions, has led to a significant rise in the elderly population. Many older adults require personalized care to manage both age-related health conditions and the normal challenges of aging. The shift towards adult care services, including home care, adult day care, and assisted living services, reflects this demand for a more customized approach to geriatric care. Families increasingly prefer these services as they provide elderly individuals with the autonomy of living in familiar environments while ensuring professional support. As the elderly population grows, so does the prevalence of chronic health conditions such as cardiovascular diseases, diabetes, arthritis, Alzheimer’s disease, and other neurodegenerative disorders. Adult care services, which often include long-term care and specialized support for individuals with such conditions, are poised for expansion to meet this critical need. These services offer vital assistance with medication management, daily living activities, rehabilitation, and emotional support, thus alleviating the strain on families and caregivers.

Asia Pacific is poised to experience the most rapid CAGR during the forecast period. Asia Pacific is experiencing one of the most pronounced aging populations globally, with countries such as Japan, China, South Korea, and Thailand seeing an accelerated increase in the proportion of elderly individuals. By 2050, the population of individuals aged 60 and older in developing Asia and the Pacific is expected to nearly double, reaching 1.2 billion, which will account for approximately a quarter of the total regional population. This demographic shift will result in a substantial rise in demand for pension and welfare programs, as well as healthcare services tailored to the elderly. This demographic shift is creating an urgent demand for geriatric care services, ranging from in-home care to specialized medical care facilities and long-term residential care. The rising number of older adults, coupled with higher life expectancy, is directly driving the need for both medical and non-medical elder care services across the region.

The elderly population in Asia Pacific is increasingly at risk of chronic health conditions such as cardiovascular diseases, diabetes, arthritis, cancer, and neurodegenerative disorders like Alzheimer's and Parkinson's disease. As a result, the need for specialized geriatric care services that focus on managing chronic conditions and providing long-term care has surged. Geriatric care providers are increasingly integrating services such as palliative care, rehabilitation, and geriatric-specific healthcare into their offerings to address the unique needs of older patients.

Major companies operating in Global Geriatric Care Services Market are:

• Brookdale Senior Living Inc.
• Extendicare Canada Inc
• Gentiva Health Services Inc
• Knight Health Holdings LLC
• Sunrise Senior Living LLC
• Genesis Healthcare LLC
• Home Instead Inc
• GGNSC Holdings LLC

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“The Global Geriatric Care Services Market is at a crossroads, marked by numerous promising trends that reflect the evolving needs and expectations of the aging population. The integration of telehealth, the focus on aging in place, technology adoption, person-centered care, memory care services, gerontechnology, holistic wellness programs, cultural competence, and the application of AI and machine learning are some of the transformative trends that will continue to shape the industry,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“Geriatric Care Services Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Services (Home Care Services (Health Care, Non-Medical Home Care), Adult Care Services (Health Care, Non-Medical Care), Institutional Care Services (Nursing Homes, Hospital-Based, Assisted Living, Independent Senior Living)), By Region, and By Competition, 2020-2030F”, has evaluated the future growth potential of Global Geriatric Care Services Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Geriatric Care Services Market.

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