About Geriatric Care Devices
Geriatric care devices are a broad category of products designed to assist older adults in maintaining their independence, safety, and well-being. They can range from simple tools like canes and walkers to more complex technology like medication dispensers and fall detection systems. The geriatric care devices market is expected to continue to grow at a significant rate in the coming years. This growth is being driven by the factors mentioned above, as well as by the increasing government support for home care and the growing awareness of the benefits of geriatric care devices.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 8.0% |
Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Geriatric Care Devices market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cardinal Health (United States), Invacare (United States), Kimberly Clark (United States), Svenska Cellulosa Aktiebolaget (Sweden), Unicharm (Japan), Drive Medical (United States), Kao (Japan), Medline (United States), Mobility Aids Sales and Services (United States) and Nippon Paper (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Pride Mobility Products (United States), Principle Business Enterprises (United States), P&G (United States) and Sunrise Medical (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Geriatric Care Devices market by Type (Wheelchairs, Walkers, Adult Diapers and Others), Application (Gerocomium, Sanatorium, Hospital and Others) and Region.
On the basis of geography, the market of Geriatric Care Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
The Advent of Digital Technology in these Geriatric Care Devices
Market Growth Drivers:
Rising Geriatric Population and Burden of Chronic Diseases and Increase in Prevalence of Medical Complications such as Respiratory, Neurological, Orthopedic, and Cardiovascular Diseases
Challenges:
Concerns about data privacy and security
Restraints:
High Cost of Geriatric Care Devices and its Maintainance is hampering the Market Growth
Opportunities:
Increasing Investment in Healthcare Industry and Rising Potential due to Emerging Markets
Market Leaders and their expansionary development strategies
On March 2, 2023, French healthcare company, Eli Lilly, launched a digital pill bottle with a built-in sensor that tracks medication adherence and sends reminders to patients and caregivers.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Geriatric Care Devices Manufacturer, Raw material suppliers, Distributors/Traders/Wholesalers, Industry Association, Downstream Vendors, Venture Capitalists and Private Equity Firms and Government Regulatory and Research Organizations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.