Rapid Rise of Geriatric Population Boosts Demand for Geriatric Medicines

Published By : 17 Feb 2016 | Published By : QYRESEARCH

Geriatric medicines are experiencing a surge in their demand, thanks to the rapidly rising global geriatric population. The increase in chronic diseases in geriatric population is the main factor behind the growth of the global geriatric medicines market.

Asia Pacific to Register Fastest Growth Rate
North America led the global geriatric medicines market in 2014. Europe occupied the second position in this market the same year. The increasing incidence of cardiovascular diseases, fueled by the rise in the geriatric population base in this region, is boosting the demand for geriatric medicines in North America.

Asia Pacific acquired the third position in the worldwide geriatric medicines market in 2014. However, the regional market is likely to report the fastest growth rate in the coming years. The rapid increased in the geriatric population base, coupled with various government initiatives to encourage geriatric medicines, is stimulating the geriatric medicines market in Asia Pacific. 

Additionally, the rise in healthcare infrastructure and the increased number of market participants in this region are likely to propel the Asia Pacific market for geriatric medicines significantly in the coming years.

The worldwide geriatric medicines market is expected to register impressive growth in the forthcoming years. Here are the top trends anticipated to shape the future of the global market for geriatric medicines.

  • Analgesics dominated the global market for geriatric medicines in 2014, based on therapeutics. The trend is likely to be continued in the near future.
  • The demand for geriatric medicines was the highest from the patients suffering from cardiovascular diseases in 2014. The increasing incidence of cardiovascular disease across the world is projected to maintain this trend in the coming years.

Abbott Laboratories, Boehringer Ingelheim, Eli Lilly, Novartis, GlaxoSmithKline, Bristol-Myers Squibb, AstraZeneca, Pfizer, Merck & Co., and Sanofi are the major geriatric medicines producers in the global arena.

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