Geriatric Care Devices Market Report

1. Market Size & CAGR of Geriatric Care Devices Market in 2021

The global geriatric care devices market is expected to reach a market size of USD 10.5 billion in 2021 with a Compound Annual Growth Rate (CAGR) of 5.3%.

2. COVID-19 Impact on the Geriatric Care Devices Market

The COVID-19 pandemic has significantly impacted the geriatric care devices market. There has been a surge in demand for devices that aid in remote monitoring and telehealth services for the elderly population.

3. Geriatric Care Devices Dynamics

The geriatric care devices market is driven by the increasing aging population globally, technological advancements in healthcare, and the rising prevalence of chronic diseases among the elderly.

4. Segments and Related Analysis

The market segments for geriatric care devices include mobility aids, monitoring devices, therapeutic devices, and others. Each segment plays a crucial role in catering to the diverse needs of the elderly population.

5. By Region Analysis

The geriatric care devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America currently leads the market due to technological advancements and high healthcare expenditures.

6. Key Market Players and Competitive Landscape

Key players in the geriatric care devices market include Philips Healthcare, Medtronic, Becton Dickinson and Company, Abbott Laboratories, and more. The market is highly competitive with companies focusing on product innovation and strategic partnerships.

7. Recent Happenings in the Geriatric Care Devices Market

In recent developments, there has been a focus on the development of smart devices for elderly care, wearable technologies for health monitoring, and the integration of artificial intelligence in geriatric care devices.