The global geriatric medicine market is growing at a significant CAGR of around 6.1% during the forecast period (2020-2026). The market is driven by the significant rise in the geriatric population base across the globe. According to the World Health Organization (WHO), the geriatric population is expected to get double by 2050, when compared to 2000. Globally, in 2000, the proportion of the people aged over 65 years were 11.0% of the global population, and these statistics are expected to reach 22.0% by 2050. In turn, the geriatric population is expected to reach 2 billion by 2050, as compared to 605 million in 2010. Similarly, the people aged over 80 years or older are expected to get quadrupled to 395 million from 2000 to 2050. With such a rise in the geriatric population base, the prevalence of chronic diseases and age-related disorders, such as osteoporosis and CVDs will gain traction during the forecast period. To cater the increasing patient base, the demand for geriatric medicine will rise during the forecast period. However, the less drug approvals for the geriatric medicines and imposition of several rules and regulations are some factors that impede the geriatric medicine market across the globe.
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The geriatric medicine market is classified on the basis of therapeutics and conditions. Based on therapeutics, the market is segmented into analgesic, anticoagulant, antihypertensive, antidiabetic, and others. Based on condition, the market is segregated into CVDs, diabetes, neurological, cancer, respiratory, and others.
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Market Segmentation
Global Geriatric Medicine Market by Therapeutic
• Analgesic
• Anticoagulant
• Antidiabetic
• Others (Statins and Antipsychotic)
Global Geriatric Medicine Market by Condition
• Cardiovascular Diseases (CVDs)
• Diabetes
• Neurological
• Cancer
• Respiratory
• Others (Arthritis and Osteoporosis)
Regional Analysis
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
Rest of the World
Company Profiles
• Abbott Laboratories
• Amgen Inc.
• Astellas Pharma Inc.
• AstraZeneca PLC
• Boehringer Ingelheim GmbH
• Bristol-Myers Squibb Co.
• Cipla Ltd.
• Eli Lilly and Co.
• GlaxoSmithKline PLC
• Johnson & Johnson Services Inc.
• Merck & Co., Inc.
• Novartis AG
• Pfizer Inc.
• Sanofi SA
• Teva Pharmaceutical Industries Ltd.
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