Data Bridge Market Research analyses a growth rate in the global geriatric medicines market in the forecast period 2022-2029. The expected CAGR of global geriatric medicines market is tend to be around 6.50% in the mentioned forecast period. The market was valued at USD 1.20 billion in 2021, and it would grow upto USD 2.0 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

To achieve robust business growth, companies must embrace the indispensable service of market research reports in today's rapidly evolving marketplace. The Geriatric Medicines report, brimming with the latest market insights and analyses, serves as a beacon, bringing clarity to the marketplace. This comprehensive market research study scrutinizes various facets, including market status, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, and distributor networks. Moreover, the Geriatric Medicines market report casts a spotlight on pivotal market dynamics, the current market landscape, and future prospects within the Geriatric Medicines industry. Crafted through a harmonious blend of industry acumen, innovative solutions, practical expertise, and cutting-edge technology to elevate user experiences.

Key components of the Geriatric Medicines report encompass a thorough examination of market drivers and restraints, an in-depth exploration of key industry players, meticulous market segmentation analysis, and a competitive assessment of prominent market participants. Employing efficient and advanced methodologies, the Geriatric Medicines market research report incorporates essential tools such as SWOT analysis and Porter's Five Forces Analysis. It delves deep into market scrutiny, aiding in revenue estimation, return on investment (ROI) calculation, and the formulation of effective business strategies. Furthermore, the report delves into the global market share of major competitors, with a geographical focus on regions including Europe, North America, Asia Pacific, and South America, offering a comprehensive perspective in this invaluable market research report."

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During the forecast period, the market for geriatric medications is anticipated to expand significantly. The expansion of this market can be attributed to emerging markets and significant investments in R&D. The growth of geriatric medicines market is enhanced by the growing cases of orthopedics diseases such as osteoporosis and arthritis, the vulnerable aging population and the rise in research and development activities conducted by many pharmaceutical companies. COVID-19 also had a major impact on the market growth.

Key Growth Drivers:

  • Increase in Elderly Population

According to the World Health Organization (WHO), people over the age of 65 are the fastest demographic segment in the world. Between 2000 and 2050, the proportion of the world's population over the age of 60  is expected to double, increasing from about 11% to 22%. As a result, the growing elderly population is driving the growth of the global geriatric medicines market during the forecast period.

  • Technological Advancements

Older people can now manage multiple prescription drug problems with recent technological advances. A pill box with an alarm allows older people to know exactly when and which pills to take. Several companies develop and sell smart pill bottles. These bottles allow you to connect your medicine to your doctor or pharmacy and get data on how often your patients take your medicine. It also warns the elderly about the appropriate time to take medicine if they miss a dose. Therefore, advances in medical technology have the potential to drive the geriatric medicines market around the world.

The report outlines the involvement of key players, including:

Pfizer Inc (U.S.), Otsuka Pharmaceutical Co., Ltd (Japan), AstraZeneca (U.K.), Bristol-Myers Squibb Company (U.S.), Allergan, Inc (Ireland), Dr. Reddy's Laboratories Ltd (India), Endo International plc (Ireland), Teva Pharmaceutical Industries Ltd (Israel), Sun Pharmaceutical Industries Ltd (India), Mylan N.V. (U.S.), Novartis AG (Switzerland), Lupin (India), Cipla Inc (India), Aurobindo Pharma (India), Torrent Pharmaceuticals Ltd (India), Sanofi (France), Merck & Co., Inc (U.S.), Apotex Inc (Canada)

Key Market Segmentation

By Indication (Cardiovascular, Arthritis, Diabetes, Neurological, Cancer, Osteoporosis, Respiratory, Others), Drug Class (Analgesic, Antihypertensive, Statins, Antidiabetic, Proton Pump Inhibitor, Anticoagulant, Antipsychotic and Antidepressant, Others), Route of Administration (Oral, Parenteral, Others)

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