Geriatric Medicines Market Strategic Analysis, Demand and Research Report 2027

Geriatric Medicines Market

Wilmington, Delaware, United States, 2024-Mar-05 — /EPR Network/ — Geriatric Medicines market is estimated to attain a valuation of US$ 1142.8 Bn by the end of 2027, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 6.9% during the forecast period, 2019-2027

Geriatric medicines, also known as geriatrics or gerontology medications, are pharmaceutical products formulated to address the unique healthcare needs of older adults, typically aged 65 and above. These medicines are designed to manage age-related diseases and conditions such as cardiovascular disease, diabetes, arthritis, osteoporosis, dementia, depression, and urinary incontinence, which are more prevalent in the elderly population. Geriatric medicines may include prescription drugs, over-the-counter medications, dietary supplements, and specialty formulations tailored to the physiological, pharmacological, and psychosocial characteristics of older patients.

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The significant players operating in the global Geriatric Medicines market are

Pfizer, Inc., Merck & Co., Inc., AstraZeneca, Bristol-Myers Squibb Company, Novartis AG

Key Trends Driving the Geriatric Medicines Market:

Aging Population Demographics: The geriatric medicines market is fueled by demographic trends such as population aging, increased life expectancy, and declining birth rates in many countries. As the global population ages, the prevalence of age-related health conditions and chronic diseases rises, driving demand for pharmaceutical interventions to manage and treat these conditions. Older adults are more likely to require multiple medications (polypharmacy) to address complex health needs, leading to increased utilization of geriatric medicines and adherence to medication regimens.

Prevalence of Chronic Diseases: Chronic diseases such as hypertension, diabetes, heart disease, arthritis, and dementia are highly prevalent among older adults and contribute significantly to the burden of morbidity and mortality in this population segment. Geriatric medicines play a critical role in managing these chronic conditions, controlling symptoms, preventing disease progression, and improving overall health outcomes. Pharmaceutical companies invest in research and development to develop new therapies, formulations, and treatment strategies tailored to the specific needs of older patients, addressing age-related changes in pharmacokinetics, pharmacodynamics, and drug metabolism.

Polypharmacy and Medication Management: Polypharmacy, the concurrent use of multiple medications, is common among older adults due to the prevalence of multiple chronic conditions and comorbidities. Geriatric medicines must be carefully selected, dosed, and monitored to minimize the risk of adverse drug reactions, drug interactions, and medication-related complications in elderly patients. Healthcare providers play a crucial role in medication management for older adults, conducting comprehensive medication reviews, deprescribing unnecessary medications, and optimizing drug therapy regimens to improve safety, efficacy, and adherence.

Geriatric-Specific Clinical Trials and Guidelines: There is growing recognition of the need for geriatric-specific clinical trials and evidence-based guidelines to guide the use of medications in older adults. Traditional clinical trials often exclude older patients or underrepresent geriatric populations, leading to limited data on drug safety, efficacy, and dosing in elderly patients. Geriatric pharmacology research aims to fill this knowledge gap by conducting trials specifically in older adults, assessing outcomes such as functional status, quality of life, and geriatric syndromes. Geriatric guidelines provide recommendations for appropriate medication use, dosage adjustments, and monitoring parameters tailored to older patients’ needs.

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Recent Developments and Future Outlook:

Recent developments in the geriatric medicines market include the introduction of new drugs and formulations targeting age-related conditions such as Alzheimer’s disease, osteoporosis, frailty, and geriatric depression. Pharmaceutical companies are investing in geriatric pharmacotherapy research to develop innovative therapies that address the multifactorial nature of geriatric syndromes, improve treatment adherence, and enhance quality of life for older adults. Additionally, advancements in drug delivery technologies, precision medicine approaches, and digital health solutions hold promise for optimizing medication management and individualizing therapy for elderly patients.

Looking ahead, the future of the geriatric medicines market is characterized by opportunities for innovation, collaboration, and holistic approaches to geriatric care. As the aging population continues to grow and healthcare systems face increasing demands for geriatric services, there is a need for integrated care models that address the complex health needs of older adults comprehensively. By leveraging advancements in pharmaceutical research, geriatric pharmacology, and interdisciplinary geriatric care, stakeholders in the geriatric medicines market can contribute to promoting healthy aging, enhancing quality of life, and ensuring optimal medication management for older adults worldwide.

In conclusion, the geriatric medicines market plays a pivotal role in meeting the healthcare needs of an aging population, providing essential therapies to manage age-related diseases, chronic conditions, and functional impairments. As society ages and healthcare systems adapt to the challenges of demographic change, geriatric medicines will continue to be indispensable tools in promoting healthy aging, preserving independence, and improving the well-being of older adults. By addressing the unique healthcare needs of older patients and advancing evidence-based geriatric pharmacotherapy, stakeholders in the geriatric medicines market can contribute to achieving the goal of age-friendly healthcare systems that prioritize the health and dignity of older individuals.

Market Segmentation –

Therapeutic Category
Analgesic
Antihypertensive
Statins
Antidiabetic
Proton Pump Inhibitor
Anticoagulant
Antipsychotic and Antidepressant
Others

Condition
Cardiovascular
Arthritis
Diabetes
Neurological
Cancer
Osteoporosis
Respiratory
Others

Distribution Channels
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

This Report lets you identify the opportunities in Geriatric Medicines Market by means of a region:

North America (the United States, Canada, and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
South America (Brazil etc.) The Middle East and Africa (North Africa and GCC Countries)

Reasons to Buy The Geriatric Medicines Market Report: –

1.Regional report analysis highlighting the consumption of products/services in a region also shows the factors that influence the market in each region.

2.Reports provide opportunities and threats faced by suppliers in the Geriatric Medicines industry around the world.

The report shows regions and sectors with the fastest growth potential.

3.A competitive environment that includes market rankings of major companies, along with new product launches, partnerships, business expansions, and acquisitions.

4.The report provides an extensive corporate profile consisting of company overviews, company insights, product benchmarks, and SWOT analysis for key market participants.

5.This report provides the industry’s current and future market outlook on the recent development, growth opportunities, drivers, challenges, and two regional constraints emerging in advanced regions.

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About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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