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

Global geriatric medicines market is estimated to be valued at USD 1,004.71 Bn in 2024 and is expected to reach USD 1,570.18 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.6% from 2024 to 2031. Geriatric medicines refer to the medical products that are used for the treatment of age-related diseases and conditions among people of age 60 years and above. Growing geriatric population across the globe is considered a major driver for the market growth. As per WHO 2022 estimates, by 2050 around 22% of the world's population will be aged 60 years and above. With increased life expectancy and declining birth rates, the number of elderly citizens are increasing that leads to increasing prevalence of chronic and lifestyle conditions such as cardiovascular diseases, cancer, diabetes, and others,  requiring long term medical care. With limited treatment options available currently, geriatric medicines provide targeted solutions to treat diseases commonly affecting the aged people. Developing efficient healthcare infrastructure and medical solutions specifically addressing needs of elderly citizens is the essential need for governments and medical device manufacturers across regions.

Market Dynamics:

Global geriatric medicines market is projected to witness moderate growth during the forecast period owing to several drivers such as rising geriatric population worldwide, increasing government initiatives to enhance healthcare for senior citizens, and growing prevalence of chronic diseases among the aged population. The rising pool of elderly will significantly boost demand for various categories of geriatric medicines in the near future. However, factors such as lower diagnosis and treatment rates for diseases among elderly in developing nations and stringent regulatory norms for approval of new drugs may impede the market growth. Meanwhile, development of innovative and generic drugs with minimal side-effects targeted to the requirements of aged remains an untapped opportunity for market players.

Key Features of the Study:

• This report provides in-depth analysis of the global geriatric medicines market, and provides market size (USD BN) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global geriatric medicines market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study includes Pfizer Inc., Takeda Pharmaceutical Company Limited, Janssen Pharmaceuticals, Sun Pharmaceutical Industries Ltd., AbbVie Inc., Boehringer Ingelheim, Eli Lilly and Company, Bristol Myers Squibb, Daiichi Sankyo Company, Limited, Bausch Health Companies, Mallinckrodt Pharmaceuticals, Endo Pharmaceuticals, Eisai Co., Ltd., Ferring Pharmaceuticals, UCB, Evoke Pharma, and Cadila Pharmaceuticals
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global geriatric medicines market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global geriatric medicines market

Detailed Segmentation-

• Disease Indication:
• • Oncology
  • Orthopedic Disorders
  • Cardiovascular Disorders
  • Respiratory Disorders
  • Neurological Disorders
  • Metabolic Disorders
  • Others
• Form:
• • Tablet
  • Liquid
  • Capsule
  • Inhalers
  • Topical
  • Others
• Route of Administration:
• • Oral
  • Parenteral
    • Intravenous
    • Intramuscular
    • Subcutaneous 
  • Others
• Distribution Channel:
• • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
• Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Company Profiles:
• • Pfizer Inc.
  • Takeda Pharmaceutical Company Limited
  • Janssen Pharmaceuticals
  • Sun Pharmaceutical Industries Ltd.
  • AbbVie Inc.
  • Boehringer Ingelheim
  • Eli Lilly and Company
  • Bristol Myers Squibb
  • Daiichi Sankyo Company, Limited
  • Bausch Health Companies
  • Mallinckrodt Pharmaceuticals
  • Endo Pharmaceuticals
  • Eisai Co., Ltd.
  • Ferring Pharmaceuticals
  • UCB
  • Evoke Pharma
  • Cadila Pharmaceuticals