Geriatric Medicine Market By Therapeutic Class (Analgesics, Antidiabetics, Antihypertensives, Statins, Antidepressants, Anticoagulants, Proton Pump Inhibitors (PPIs), Others), By Indication (Cardiovascular Disorders, Arthritis, Diabetes, Neurological Disorders, Cancer, Respiratory Disorders, Osteoporosis, Others), By Route of Administration (Oral, Injectables, Topical Treatments, Transdermal Patches, Inhalation), By Distribution Channel (Direct Sales, Retail Pharmacies, Online Pharmacies, Hospitals and Clinics), Global Market Size, Segmental analysis, Regional Overview, Company share analysis, Leading Company Profiles And Market Forecast, 2025 – 2035

Industry Outlook

The Geriatric Medicine market accounted for USD 168.5 Billion in 2024 and is expected to reach USD 379.1 Billion by 2035, growing at a CAGR of around 7.65% between 2025 and 2035. The geriatric medicine market is majorly associated with products and services relating to the needs of elderly people, and it mainly includes people aged 65 years and above. It covers pharmaceutical products, medical equipment, and treatments aimed at chronic diseases mostly associated with aging, including heart diseases, diabetes, arthritis, Alzheimer's disease, and osteoporosis.

The increasing proportion of the geriatric population and their sensitivity to chronic diseases, coupled with a higher success rate of medical interventions help fuel the demand for geriatric care. It consists of drugs, conventional and clinical therapies, and Systems medically used for treating elderly patients, home health and home medical care, and long-term care. This sector has a growth opportunity as life expectancy increases in the future.

Report Scope:

Market Dynamics

Increasing Global Aging Population Demand for Specialized Geriatric Healthcare Solutions

Industry experts have identified the increasing world population of elderly people as the main factor influencing the growth of the geriatric medicine market. Global demographic changes announce the constant growth of the elderly population; in the developed countries and the emergent markets, such as China and India, in the first place. Thus, the demand for healthcare products and services meeting the needs of the senior population is increasing ceaselessly.

Patients over 60 years of age are more prone to chronic diseases, neurodegenerative disorders, and physical impairment, which increases the need for effective geriatric medicine. Healthcare systems also must provide treatments, medications, and services to meet the healthcare needs of the aging population. The increase in geriatric medicine is an opportunity for the producers of drugs and service providers in the drug sector to diversify and expand.

Rising Prevalence of Chronic Diseases in the Elderly Population Enhances Market Growth

The increasing incidence rate of chronic diseases like cardiovascular diseases, diabetes, arthritis, and neurological disorders among the aging population is boosting the demand for geriatric medicine. The immune system of people dwindles as they advance in age, and the incidence of chronic diseases rises. They are long-term diseases that need constant monitoring, medication, and care; this has led to the need for a medical specialty, namely geriatric medicine, that will address the needs of these diseases.

The healthcare industry has the challenging task of consistently creating new medications, treatment strategies, and higher-level equipment to address the ever-increasing aging population. Hence, the complementary growth in the geriatric medicine market can be presumed with the attention to its treatment of these chronic diseases.

High Treatment Costs Limit Access to Geriatric Healthcare for Elderly Individuals

As the population of elderly citizens is expanding, so is the potential for geriatric medicine markets, but the high cost of treatments acts as a major access barrier for seniors, particularly in developing and low-income countries. Elderly patients may not afford specialized medications, therapies, or other fashionable medical equipment that can improve their conditions. The relative financial constraint restricts the client base from utilizing the entire range of geriatric healthcare, which diminishes the market in certain locations.

However, attempts are being made to counter some of these challenges through state interventions aimed at the enhancement of affordable access through insurance and the availability of cheaper generics in the market, which should reduce the vulnerability of the geriatric medicine market to cut-throat competition from within due to high costs of treatment.

Development of Personalized Medicine Tailored to Elderly Population’s Unique Healthcare Needs

Personalized medicines are expected to be a strategic growth avenue for the geriatric medicine market in the forthcoming period. Since elderly people have varied health conditions, including Alzheimer's disease, high blood pressure, diabetes, cancer, chronic obstructive pulmonary disease, and heart disease, customized care that considers genetic makeup, and preferences will enhance the efficacy of disease intervention. Tailored treatment means that side effects are minimized, and the quality of the elderly population's life is significantly increased.

Due to increased technological development in genomics and biotechnology, the geriatric medicine market is now approaching more personalized solutions specific to the needs of geriatric patients and thus are enhancing the efficiency of the treatments and are likely to boost the geriatric medicine market further.

Expansion of Home Healthcare Services for Aging Population Increases Market Potential

The opportunity for growth in home healthcare services is a new trend that is opening up the geriatric medicine market to a greater extent. The fact is that a considerable number of elderly people prefer to receive treatment at home instead of in hospitals or other specialized facilities. This increased reliance on home care has been driven by the increasing use of telehealth, home monitoring, and mobile technologies that can allow healthcare service providers to have an efficient way of evaluating patients at home. This we can see through home health care services where physical therapy administration of medication and other chronic disease care is easily available and cheap. High demand for home healthcare, coupled with the fact that the aging population wants to live in the comfort of their homes, will ensure the continued popularity of geriatric care solutions.

Industry Experts Opinion

“This is a time of remarkable innovation in geriatric medicine and gerontology. The research presented today has the potential to influence not only our understanding of aging but also how we approach care for older adults, ensuring they can enjoy more independence, better health, and greater quality of life.”

• Dr. Andy Agwunobi, CEO, UConn Health

Segment Analysis

Based on the therapeutic class, the geriatric medicine market has been Analgesics, Antidiabetics, Antihypertensive, Statins, Antidepressants, Anticoagulants, Proton Pump Inhibitors (PPIs), and, others. Analgesics are important drugs used to relieve pain; administered for arthritis, musculoskeletal pain, and other long-term conditions. Antidiabetics are widely used for the therapy of hyperglycemia in elderly patients because the incidence of diabetes is rising in elderly people.

Antihypertensive and statin drugs are employed to manage cardiovascular disease; hypertension or high cholesterol prevalently in elder patients. Selective serotonin reuptake inhibitors and anticoagulants are essential to treat depressive disorders and avoid thrombotic episodes. This is due to the changes in digestion in the older population; a group of people who normally suffer from gastric acid-related conditions are treated using PPIs. Other classes of drugs, including antiseptics and anti-infectives are also large in this market as bone density reduces with age and many drugs for treating osteoporosis for bone health are found in this market.

Based on the indication, the geriatric medicine market is divided into Cardiovascular Disorders, Arthritis, Diabetes, Neurological Disorders, Cancer, Respiratory Disorders, Osteoporosis and, others. The indication segment is primarily dominated by chronic diseases/conditions mostly experienced by elderly people. Certain acute and chronic conditions including hypertension, coronary artery disease, and heart failure are of special interest since they are dominant among older adults. Arthritis and osteoporosis are also important, mainly because age-related diseases related to bones and joints affect the elderly population for mobility and painful conditions.

Diabetes is a prominent issue in elderly patients and requires appropriate monitoring to prevent neuropathy and cardiovascular diseases among others. Neurological diseases such as dementia, and Alzheimer's diseases are on the rise due to the growing elderly population and require specific therapies. Cancer is still a critical factor and people of all ages and sexes develop different types of cancer with age. Other chronic illnesses such as COPD and asthma are also chronic and older adults can be very susceptible to these illnesses.

Regional Analysis

North America's geriatric medicine market is leading, with a focus on the United States due to its increasing elderly population and, therefore, the development of geriatric healthcare. The U.S. has one of the largest senior populations, and given the growth in the rate of chronic diseases such as diabetes, cardiovascular diseases, and disorders of the nervous system in elder citizens, there is a need for appropriate geriatric health care. Besides, the U.S. boasts major investments in healthcare technologies such as tele-consulting or tele-rehabilitation, as well as improved, targeted medical technologies for caring for the elderly. This area also experiences government expenditure on its healthcare products like Medicare hence increasing its expenditure on geriatric treatments and services.

The Asia-Pacific geriatric medicine market is growing rapidly. Many developed countries such as China, India, and Japan have had a relatively young population; however, this demographic is fast aging due to increased life span and better health care. Consequently, there is increasing demand for medical services for elderly people, general care, and treatment of chronic diseases and serious illnesses of the nervous system and bodily dysfunction.

Furthermore, the countries of APAC are especially focusing on the development of healthcare facilities which in turn is contributing to the large access to medical services which is in turn driving the demand for geriatric care products and services. The growth in modern healthcare technology utilization in the region by way of telemedicine home healthcare solutions also fuels the market and is part of the fast-growing segment in the geriatric medicine market globally.

Competitive Landscape

The primary players in the geriatric medicine market include global pharma and healthcare players including Pfizer, Novartis, Sanofi, Johnson & Johnson, Eli Lilly, and others that recommend a large base of medicine for cardiovascular diseases, diabetes, arthritis, and neurological disorders among other ailments that affect the elderly population. Some of the other prominent players in this market include; Bristol-Myers Squibb, AbbVie, AstraZeneca, and Merck & Co. They are mainly involved in the management of chronic diseases and have developed new therapies for elderly patients. Other firms, like Medtronic, Stryker, or Baxter, offer medical equipment required in the treatment of elderly patients and in orthopedic surgery as well as in cardiology.

Emerging players in the market for generics include Teva and Mylan while personalized treatments, telemedicine, and home healthcare solutions capture the specific needs of the elderly population in the market. The main factors that influence these companies include the current, and likely future, population of the elderly, coupled with the trends in chronic disease and the focus on providing senior care, thus making the market highly competitive and dynamic.

Geriatric Medicine Market, Company Shares Analysis, 2024

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Recent Developments:

• In October 2024, AbbVie announced that the U.S. Food and Drug Administration (FDA) has approved VYALEV™ (foscarbidopa and foslevodopa) as the first and only subcutaneous 24-hour infusion of levodopa-based therapy for the treatment of motor fluctuations in adults with advanced Parkinson's disease.
• In January 2023, the U.S. Food and Drug Administration (FDA) approved the supplemental Biologics License Application (sBLA) supporting the traditional approval of LEQEMBI® (lecanemab-irmb) 100 mg/mL injection for intravenous use, making LEQEMBI the first and only approved treatment shown to reduce the rate of disease progression and to slow cognitive and functional decline in adults with Alzheimer’s disease (AD).

Report Coverage:

By Therapeutic Class

• Analgesics
• Antidiabetics
• Antihypertensives
• Statins
• Antidepressants
• Anticoagulants
• Proton Pump Inhibitors (PPIs)
• Others

By Indication

• Cardiovascular Disorders
• Arthritis
• Diabetes
• Neurological Disorders
• Cancer
• Respiratory Disorders
• Osteoporosis
• Others

By Route of Administration

• Oral
• Injectables
• Topical Treatments
• Transdermal Patches
• Inhalation

Distribution Channel

• Direct Sales
• Retail Pharmacies
• Online Pharmacies
• Hospitals and Clinics

By Region

North America

• U.S.
• Canada

Europe

• U.K.
• France
• Germany
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Singapore
• Rest of Asia Pacific

Latin America

• Brazil
• Argentina
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC Countries
• South Africa
• Rest of Middle East & Africa

List of Companies:

• Pfizer Inc.
• Novartis International AG
• Sanofi S.A.
• Johnson & Johnson
• Eli Lilly and Co.
• Bristol-Myers Squibb
• AbbVie Inc.
• AstraZeneca PLC
• Merck & Co.
• GSK (GlaxoSmithKline)
• Roche Holding AG
• Bayer AG
• Amgen Inc.
• Teva Pharmaceutical Industries Ltd.
• Mylan N.V.
• Takeda Pharmaceutical Company
• Medtronic PLC
• Stryker Corporation

Frequently Asked Questions (FAQs)