Geriatric Medicines Market Size
| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2019 - 2023 |
| CAGR | 6.50% |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Geriatric Medicines Market Analysis
The Global Geriatric Medicines Market is expected to register a CAGR of greater than 6.5% during the forecast period.
The COVID-19 pandemic had impacted almost every section of society and so had impacted the healthcare system worldwide. The pandemic has put forward a serious challenge for the geriatric medicine market, as the geriatric population is considered the most vulnerable and is more prone to diseases and infections, thus, the pandemic surged the rising need for geriatric medicines. For instance, an article titled, 'Geriatric Population During the COVID-19 Pandemic: Problems, Considerations, Exigencies, and Beyond' published in September 2020 reported that the elderly, especially those with underlying diseases, are more susceptible to COVID-19 infections and the initial studies revealed that more cases of COVID-19 were reported in people aged between 49-55 years. The article also quoted that the prevalence of the disease was higher in individuals aged 60 years and above than in younger individuals. Also, in developed countries, mortality due to COVID-19 was 83.7% for those aged 70 years and 16.2% for people younger than 69 years. Thus, the rising COVID-19 cases created a rising demand for geriatric population medicines. Although initially, the market witnessed significant challenges due to the disturbances in the supply chain due to the government lockdown but with the decrease in COVID-19 cases and resumption of services the market witnessed significant growth.
The factors which are likely to drive the market are the rise in affordability along with the availability of products specific to these populations, the steep rise in the growth of the elderly population, and the prevalence of chronic conditions. 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 which is leading to the rise in affordability along with the availability of products specific to these populations is likely to drive this market. For instance, in 2022 World Population Prospects, reported that there were 771 million people aged 65 years or over globally, 3 times more than the size in 1980 (258 million). The older population is projected to reach 994 million by 2030 and 1.6 billion by 2050. Similarly, in October 2022, World Health Organization (WHO) reported that in 2020, the number of people aged 60 years and older outnumbered children younger than 5 years and by 2050, 80% of older people will be living in low- and middle-income countries. Older people are more prevalent to infections and are more prone to acquired diseases, thus, these figures have a positive outlook on the global geriatric medicines market.
Further, technological developments such as recent mergers, acquisitions, and partnerships among the key market players are also expected to drive the market. For instance, in September 2022, Alkem and Stempeutics launch StemOne for the treatment of knee osteoarthritis. Similarly, in August 2021, Pfizer declared the acquisition of Trillium Therapeutics, a clinical-stage immune-oncology business. The agreement aided in the advancement of cancer treatment.
Thus, the increasing aged population around the world is expected to drive the market, but lack of awareness and proper care among elderly patients and the high cost of medicines and treatment may slow down the market growth over the forecast period.
Geriatric Medicines Market Trends
Analgesics in the Therapeutics Segment is Expected to Witness Significant Growth Over the Forecast Period.
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 at that age. Frequent pain and aches experienced by the aging population are the other favorable factors that drive market growth. For instance, in June 2022, Endo International plc reported that it has executed an agreement with Taiwan Liposome Company, Ltd. (TLC), a clinical-stage specialty pharmaceutical company developing novel nanomedicines to target areas of unmet medical need, to commercialize TLC599, a TLC investigational product. TLC599 is an injectable compound in Phase 3 development for the treatment of osteoarthritis knee pain. Thus, such key developments by the market players are expected to drive the market over the forecast period.
In addition, new initiatives to provide healthcare support to the geriatric population and a rise in investments in R&D activities in the analgesics industry, with a key focus on the classes of compounds to formulate new therapeutics, are expected to drive market growth during the analgesics market forecast period. For instance, in September 2022, FAIR Health launched three new FH Total Treatment Cost tools, educational content, and resources related to the care of older adults. This initiative aims to advance shared decision-making among older patients, especially those with serious illnesses, as well as their caregivers and care partners, by providing them with the information and resources needed to make informed healthcare decisions and better navigate the healthcare system. Similarly, in October 2022, Atai Life Sciences reported positive initial results for their Phase 1 clinical trial of KUR-101. KUR-101 is an oral formulation of deuterated mitragynine, the major active alkaloid of the kratom plant, under development for the treatment of opioid use disorder (OUD).
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.
North America is Expected to Witness a Significant Growth Over 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, and the presence of a vast population of baby boomers during the forecast period in the United States necessitated efficient treatment. For instance, the International Diabetes Federation 2021, data reported about 51 million cases of diabetes in adults in North America, and this number is expected to increase by 57 million by 2030, 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. Similarly, in 2022 the Centers for Disease Control and Prevention, reported that one person dies from a stroke every 40 seconds in the United States, and approximately 795,000 people are affected by stroke each year. There are around 610,000 first or fresh strokes and 185,000 recurrent strokes. This growing number of strokes is supporting the geriatric medicines market growth and development in the region.
The new product launches, increasing research and development expenses, and recent mergers, acquisitions, and partnerships are also fueling the growth of the market in the region. For instance, in September 2022, Esai Co., Ltd., and Biogen Inc. announced positive topline results from Eisai's large global Phase 3 confirmatory Clarity AD clinical trial of lecanemab (development code: BAN2401), an investigational anti-amyloid beta (Aβ) protofibril antibody for the treatment of mild cognitive impairment (MCI) due to Alzheimer's disease (AD) and mild AD (collectively known as early AD) with confirmed presence of amyloid pathology in the brain.
Also, the government initiave and services in the region that involves contributing towards the health of geriatric population is likely to fuel this market in the region. For instance, in September 2022, project ECHO was launched in Mexico, for the geriatric population. People over the age of 60 experience physiological changes that become clinically significant, requiring adjustments to their medical therapies. They also face physical mobility challenges, and memory issues and have a slower recovery, all of which need to be addressed in an evidence-based holistic manner. In addition, many older patients live in rural areas on a low or limited income, presenting a unique challenge to accessing care. Thus, to overcome all these medical issues, this project was launched to provide complete healthcare and medicine support to the geriatric population.
Thus, due to the aforesaid-mentioned reasons, the region is expected to show significant growth over the forecast period.
Geriatric Medicines Industry Overview
The geriatric medicines market is fragmented and competitive in nature due to the presence of many companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known as Endo Pharmaceuticals Inc., Merck & Co. Inc., Abbott Laboratories Inc., Pfizer Inc., AbbVie (Allergan Inc.), Bristol-Myers Squibb Company, Regeneron Pharmaceuticals Inc., AstraZeneca PLC, F. Hoffmann-La Roche AG, Octapharma AG, Novartis AG, Sanofi SA, and Boehringer Ingelheim GmbH.
Geriatric Medicines Market Leaders
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Endo Pharmaceuticals Inc
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Merck & Co Inc
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AstraZeneca PLC
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Pfizer Inc
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Allergan Inc
- *Disclaimer: Major Players sorted in no particular order
Geriatric Medicines Market News
- In October 2022, Cyclo Therapeutics, Inc. promulgated the commencement of its Phase 2b study of Trappsol Cyclo for the treatment of Alzheimer's disease (AD), targeting the reduction of amyloid beta and tau. The Phase 2b study has the regulatory and Institutional Regulatory Board (IRB) approval.
- In September 2022, Corium, Inc., launched ADLARITY (donepezil transdermal system) which is available in the United States for the treatment of patients with mild, moderate, or severe dementia of Alzheimer's type.
Geriatric Medicines Industry Segmentation
As per the 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. The geriatric medicine market is segmented by therapeutic category (analgesics, antibiotics, antihypertensives, antidepressants, and other therapeutic categories), end-users (hospital pharmacies, online pharmacies, and retail pharmacies), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Therapeutics Catergory | Analgesics | ||
| Antidiabetics | |||
| Antihypertensives | |||
| Antidepressants | |||
| Other Therapeutic Categories | |||
| By End-User | Hospital Pharmacies | ||
| Online Pharmacies | |||
| Retail Pharmacies | |||
| Geography | North America | United States | |
| Canada | |||
| Mexico | |||
| Europe | Germany | ||
| United Kingdom | |||
| France | |||
| Italy | |||
| Spain | |||
| Rest of Europe | |||
| Asia-Pacific | China | ||
| Japan | |||
| India | |||
| Australia | |||
| South Korea | |||
| Rest of Asia-Pacific | |||
| Middle East and Africa | GCC | ||
| South Africa | |||
| Rest of Middle East and Africa | |||
| South America | Brazil | ||
| Argentina | |||
| Rest of South America | |||
| Analgesics |
| Antidiabetics |
| Antihypertensives |
| Antidepressants |
| Other Therapeutic Categories |
| Hospital Pharmacies |
| Online Pharmacies |
| Retail Pharmacies |
| North America | United States |
| Canada | |
| Mexico | |
| Europe | Germany |
| United Kingdom | |
| France | |
| Italy | |
| Spain | |
| Rest of Europe | |
| Asia-Pacific | China |
| Japan | |
| India | |
| Australia | |
| South Korea | |
| Rest of Asia-Pacific | |
| Middle East and Africa | GCC |
| South Africa | |
| Rest of Middle East and Africa | |
| South America | Brazil |
| Argentina | |
| Rest of South America |
Geriatric Medicines Market Research FAQs
What is the current Global Geriatric Medicines Market size?
The Global Geriatric Medicines Market is projected to register a CAGR of greater than 6.5% during the forecast period (2025-2030)
Who are the key players in Global Geriatric Medicines Market?
Endo Pharmaceuticals Inc, Merck & Co Inc, AstraZeneca PLC, Pfizer Inc and Allergan Inc are the major companies operating in the Global Geriatric Medicines Market.
Which is the fastest growing region in Global Geriatric Medicines Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Global Geriatric Medicines Market?
In 2025, the North America accounts for the largest market share in Global Geriatric Medicines Market.
What years does this Global Geriatric Medicines Market cover?
The report covers the Global Geriatric Medicines Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Global Geriatric Medicines Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Geriatric Medicines Industry Report
Statistics for the 2025 Global Geriatric Medicines market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global Geriatric Medicines analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
