Geriatric Medicines Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Geriatric Medicines Market is Segmented by Therapeutic Category (Analgesics, Antidiabetics, Antihypertensives, Antidepressants, Proton Pump Inhibitors, and Other Therapeutic Categories), End User, and Geography.

Geriatric Medicines Market Snapshot

Geriatric Medicines Market Size
Study Period: 2018 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >6.5 %
Geriatric Medicines Market Key Players

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Market Overview

The geriatric medicines market studied was anticipated to witness a CAGR of nearly 6.5% during the forecast period. The primary factor attributing to the growth of the market is a steep rise in the elderly population across geographical locations, mainly in developed and emerging economies. Besides, the rising prevalence of chronic disorders, such as cancers, diabetes, and rheumatoid arthritis among the geriatrics attributes for the growth of the market. For instance, according to the United Nations data of World Population Prospects for the year 2019, the number of people over the age of 65 increases from 9% in 2019 to more than 16% of the total world’s population by 2050. The number of persons aged 80 years or over is also projected to triple, from 143 million in 2019 to 426 million in 2050. Thus, the rise in the volume of the patient pool results in a higher demand for the market fueling the global market growth over the forecast period.

Scope of the Report

Geriatric medicine is a branch of medicine involved with all aspects of health and illness in older adults (adults aged over 65 years). It is the largest medical specialty as the geriatric population base, in general, is likely to have lower immunity and energy, higher cholesterol, and blood sugar levels leading to the rising prevalence of target diseases, such as diabetes, coronary heart disease, hypertension, stroke, osteoporosis, neurological disorders, and others disorders.

Therapeutic Category
Other Therapeutic Categories
End User
Hospital Pharmacies
Online Pharmacies
Retail Pharmacies
North America
United states
United Kingdom
Rest of Europe
South Korea
Rest of Asia-Pacific
Middle-East and Africa
South Africa
Rest of Middle-East and Africa
South America
Rest of South America

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Key Market Trends

Analgesics in the Therapeutics Segment is Expected to Hold the Largest Market Share in the Geriatric Medicines Market

The analgesics segment is expected to account for the most significant revenue over the forecast period as it is the most common indication with a high occurrence rate of pain-related syndromes in the elder age. This dominance is due to the occurrence of various reasons, such as osteoporosis, lack of musculoskeletal strength, vision impairment, and unintentional falls leading to unbearable pain in that age. Thus, owing to several distinct syndromes, the demand for proper analgesic therapy increases with the rise in prescription sales for pain management is more and is anticipated to the growth of the segment. On the other hand, the anti-diabetic segment is expected to witness the fastest CAGR due to the increasing global burden of diabetes in the elderly age group, which results in other ailments resulting in higher demand for the segment driving the market revenue over the forecast period.

Geriatric Medicines Market Trends

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall geriatric medicines market throughout the forecast period. The dominance is due to the growing prevalence of various chronic diseases like obesity and diabetes, the presence of a vast population of baby boomers during the forecast period in the United States necessitated efficient treatment. For instance, according to the International Diabetes Federation in 2019, about 48 million adults in North America are living with diabetes, among which more than half of the patients are over the age of 65 and are expected to continue in the future resulting in higher demand for the specific treatment for geriatric population driving the market in the region. Moreover, the rise in demand for geriatric care can be attributed to the increased side-effects due to several interactions among various medicines associated with the poly-pharmacy, especially those who are not residing in nursing homes, rise in government initiatives to enhance the awareness, a well-developed compensation scenario along with increased availability of advanced healthcare infrastructure and huge investments by the key players in the region are likely to fuel the market growth contributing to its outstanding market share in the geriatric medicines market.

Geriatric Medicines Market Growth

Competitive Landscape

The geriatric medicines market is moderately competitive and consists of several major players. Few of the prominent players currently dominating the market are implementing various strategies like developing products specific to elderly patients minimizing the side effects while some others are focusing on the R&D activities, applying for Investigational New Drug (IND) application approvals with huge product pipelines to treat rare autoimmune disorders which are more prevalent in these patients to consolidate their market positions across the globe. For example, in September 2019, Akari Therapeutics PLC, a biopharmaceutical company focused on innovative therapeutics to treat orphan autoimmune and inflammatory diseases has received orphan drug designation for nomacopan from the US Food and Drug Administration (FDA), which was successfully proven efficient in animals models of Guillain-Barre syndrome driving the market growth. Some of the companies currently dominating the market are Endo Pharmaceuticals Inc., Merck & Co. Inc., AstraZeneca PLC, Pfizer Inc., and Allergan Inc.

Table of Contents


    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rise in Affordability along with Availability of Products Specific to these Population

      2. 4.2.2 Steep Rise in Growth of Elderly Population and Prevalence of Chronic Conditions

    3. 4.3 Market Restraints

      1. 4.3.1 Lack of Awareness and Proper Care among the Elderly Patients

      2. 4.3.2 High Cost of Medicines and Treatment

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry


    1. 5.1 Therapeutic Category

      1. 5.1.1 Analgesics

      2. 5.1.2 Antidiabetics

      3. 5.1.3 Antihypertensives

      4. 5.1.4 Antidepressants

      5. 5.1.5 Other Therapeutic Categories

    2. 5.2 End User

      1. 5.2.1 Hospital Pharmacies

      2. 5.2.2 Online Pharmacies

      3. 5.2.3 Retail Pharmacies

    3. 5.3 Geography

      1. 5.3.1 North America

        1. United states

        2. Canada

        3. Mexico

      2. 5.3.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Spain

        6. Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. Australia

        5. South Korea

        6. Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. GCC

        2. South Africa

        3. Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. Brazil

        2. Argentina

        3. Rest of South America


    1. 6.1 Company Profiles

      1. 6.1.1 Endo Pharmaceuticals Inc.

      2. 6.1.2 Merck & Co. Inc.

      3. 6.1.3 AstraZeneca PLC

      4. 6.1.4 Pfizer Inc.

      5. 6.1.5 Allergan Inc.

      6. 6.1.6 Bristol-Myers Squibb Company

      7. 6.1.7 Regeneron Pharmaceuticals Inc.

      8. 6.1.8 AstraZeneca PLC

      9. 6.1.9 F. Hoffmann-La Roche AG

      10. 6.1.10 Octapharma AG

    2. *List Not Exhaustive

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Geriatric Medicines Market market is studied from 2018 - 2026.

The Geriatric Medicines Market is growing at a CAGR of >6.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Endo Pharmaceuticals Inc, Merck & Co Inc, AstraZeneca PLC, Pfizer Inc, Allergan Inc are the major companies operating in Geriatric Medicines Market.

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