Global Geriatric Care Devices Market was valued at USD 836.5 billion in 2020 which expected to reach USD 1944.02 billion by 2027 at a CAGR 7.2% from 2020-2027.
Geriatric care devices comprise range of products which are required for efficient elder care. Some of them are wheel chairs, adult diapers, specific medicine, and back support. The global geriatric care devices market is likely to expand in the forecast period due to the rise in geriatric population across the world. Continuous technological advancements and research & development activities by major players for the development of cost-effective devices as well as the increase in government expenditure on development of healthcare infrastructure are expected to create new opportunities in terms of revenue for players in the global market throughout the forecast period.
The COVID-19 outbreak would positively impact the global geriatric care devices market growth over the forecast period. Due to the COVID-19 pandemic, one might be under the assumption that the geriatric care devices market would be booming because home healthcare providers would able to treat vulnerable & elderly population in the comfort of their homes.
Regional Analysis
The Global Geriatric Care Devices Market North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market in APAC region is expected to witness faster growth due to the increase in government expenditure on the health sector, the rise in disposable income as well as presence of prominent players operating in the emerging economies in this region. Moreover, innovative product offerings by regional players, anticipated to support the target market throughout the forecast period.
Key Players
Some prominent players operating in the global geriatric care devices market including, Invacare Corporation, Kimberly-Clark, Unicharm Corporation, Cardinal Health, Sunrise Medical LLC, Svenska Cellulosa Aktiebolaget, Medline Industries, Inc., Nippon Paper, Inc., Medical Depot, Inc., Mobility Aids Sales & Services, etc.
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