GLOBAL GERIATRIC MEDICINES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global geriatric medicines market faces several challenges. As the elderly population grows globally, age-related diseases are increasing which requires extensive research and development to find new treatment options. However, drug development costs are very high and bringing a new drug to the market is difficult and risky. Older patients often have multiple health issues, so testing treatments and managing side effects becomes more complex. Regulatory guidelines for clinical trials in elderly patients are stringent to ensure safety.

Market Opportunities – Development of combination drugs tailored for individual health conditions

The growth of the elderly population worldwide presents opportunities. As life expectancies increase, the demand for medicines to treat age-related chronic diseases will rise significantly. Manufacturers are working on developing safer drugs that can be used by those with co-morbidities. There is also scope for combinations of different drugs tailored for individual health conditions. Companion diagnostics can also help improve treatment outcomes for older patients, thereby, creating lucrative opportunities for market development over the projected period.