Geriatric Medicines Market to grow at a CAGR of 6.81% from 2022 to 2027|Abbott Laboratories, AbbVie Inc. emerge as Key Contributors to growth – Technavio

NEW YORK, July 26, 2023 /PRNewswire/ — The geriatric medicines market size is estimated to grow at a CAGR of 6.81% between 2022 and 2027. The market size is forecast to increase by USD 44.85 billion. The market is fragmented due to the presence of diversified international and regional vendors. The rising geriatric population is a key factor driving market growth. Globally, people are facing health consequences, such as stroke and diabetes, due to a lack of physical activity and unhealthy diets, resulting in significant medical challenges. Moreover, these health issues are more prevalent among the elderly compared to the younger population. Additionally, reduced organ function also raises susceptibility to infections. Geriatric medicines are effective in treating these health problems and providing appropriate care for the elderly population. Hence, these factors are expected to drive market growth during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report 

Geriatric Medicines Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The soft skills training market report covers the following areas:

• Geriatric Medicines Market 2023-2027 Size
• Geriatric Medicines Market 2023-2027 Trends
• Geriatric Medicines Market 2023-2027 Industry Analysis

Geriatric Medicines Market 2023-2027: Vendor Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors must focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also must leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Abbott Laboratories, AbbVie Inc., AstraZeneca PLC, Aurobindo Pharma Ltd., Boehringer Ingelheim International GmbH, Bristol Myers Squibb Co., Cipla Ltd., Dr Reddys Laboratories Ltd., Eli Lilly and Co., Endo International Plc, GlaxoSmithKline Plc, Lupin Ltd., Merck and Co. Inc., Novartis AG, Otsuka Holdings Co. Ltd., Pfizer Inc., Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Viatris Inc., and Sanofi are among some of the major market participants.

Vendor Offering

• Abbott Laboratories – The company offers geriatric medicines such as Quetiapine.
• AbbVie Inc. – The company offers geriatric medicines such as Immunology HUMIRA, RINVOQ, and SKYRIZI.
• Bristol Myers Squibb Co. – The company offers geriatric medicines such as ABECMA, ABRAXANE, and BARACLUDE.

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Geriatric Medicines Market – Market Dynamics

Major Trends

The rise in therapeutic approaches is a major trend in the market. The growth in therapeutic approaches for emotional and psychiatric disorders in older adults, such as depression, has contributed to the overall expansion. For example, geriatric group therapy has proven effective in reducing social isolation and providing support and camaraderie for older individuals. Additionally, the support from the healthcare system and regulatory authorities in establishing a supportive framework with necessary resources has further bolstered the adoption of these therapeutic approaches. Hence, these factors are expected to drive market growth during the forecast period.

Significant Challenges

The side effects of geriatric medicines are a significant challenge restricting market growth. The long-term use of geriatric medicines can lead to serious side effects, including headaches, confusion, dizziness, and fluctuations in weight (weight loss or weight gain). These adverse effects present a considerable challenge when considering the extended usage of geriatric medicines, often leading to low patient preference for such treatments. Hence, these side effects are expected to restrict the geriatric medicines market during the forecast period.

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Geriatric Medicines Market 2023-2027: Segmentation

Geriatric Medicines Market is segmented as below:

• Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• Type 
• Analgesics
• Antidiabetics
• Antihypertensives
• Statins
• Others
• Geography 
• North America
• Europe
• Asia
• Rest Of the World (ROW)

The market share growth by the hospital pharmacies segment will be significant during the forecast period. Analgesics, including aspirin, opioids, and paracetamol, are extensively utilized worldwide for their remarkable pain relief properties. Paracetamol has gained widespread popularity for use as first-line therapy for treating pain conditions and is among the most frequently prescribed medications in the US, thanks to recommendations from health organizations on a global scale. Hence, these factors are expected to drive segment growth in the market during the forecast period.

North America is estimated to contribute 40% to the growth of the global market during the forecast period. The growth in the region is due to several factors such as early adoption of analgesics such as aspirin, opioids, and paracetamol, as well as the high awareness among the susceptible population about the importance of timely treatment. Furthermore, the well-established healthcare infrastructure in the region has played a key role in promoting market growth. Favorable reimbursement policies, a rise in FDA drug approvals, and substantial healthcare expenditure are also key factors contributing to the market’s expansion.

For insights on global, regional, and country-level parameters with growth opportunities, historic (2017 to 2021) & forecast (2023-2027) – Download a Sample Report

Geriatric Medicines Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist geriatric medicines market growth during the next five years
• Estimation of the geriatric medicines market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the geriatric medicines market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of the geriatric medicines market, vendors

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Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global geriatric medicines market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on global geriatric medicines market 2017 – 2021 ($ billion)

• 4.2 Distribution Channel Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – Distribution Channel Segment 2017 – 2021 ($ billion)

• 4.3 Type Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 – 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments
• Exhibit 30: Chart on Distribution Channel – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Distribution Channel – Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 32: Chart on Comparison by Distribution Channel
• Exhibit 33: Data Table on Comparison by Distribution Channel

• 6.3 Hospital pharmacies – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Hospital pharmacies – Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Hospital pharmacies – Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Hospital pharmacies – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Hospital pharmacies – Year-over-year growth 2022-2027 (%)

• 6.4 Retail pharmacies – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Retail pharmacies – Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Retail pharmacies – Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Retail pharmacies – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Retail pharmacies – Year-over-year growth 2022-2027 (%)

• 6.5 Online pharmacies – Market size and forecast 2022-2027 
• Exhibit 42: Chart on Online pharmacies – Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Online pharmacies – Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Online pharmacies – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Online pharmacies – Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Distribution Channel 
• Exhibit 46: Market opportunity by Distribution Channel ($ billion)
• Exhibit 47: Data Table on Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 48: Chart on Type – Market share 2022-2027 (%)
• Exhibit 49: Data Table on Type – Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 50: Chart on Comparison by Type
• Exhibit 51: Data Table on Comparison by Type

• 7.3 Analgesics – Market size and forecast 2022-2027 
• Exhibit 52: Chart on Analgesics – Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on Analgesics – Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on Analgesics – Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Analgesics – Year-over-year growth 2022-2027 (%)

• 7.4 Antidiabetics – Market size and forecast 2022-2027 
• Exhibit 56: Chart on Antidiabetics – Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Data Table on Antidiabetics – Market size and forecast 2022-2027 ($ billion)
• Exhibit 58: Chart on Antidiabetics – Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Antidiabetics – Year-over-year growth 2022-2027 (%)

• 7.5 Antihypertensives – Market size and forecast 2022-2027 
• Exhibit 60: Chart on Antihypertensives – Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Data Table on Antihypertensives – Market size and forecast 2022-2027 ($ billion)
• Exhibit 62: Chart on Antihypertensives – Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Antihypertensives – Year-over-year growth 2022-2027 (%)

• 7.6 Statins – Market size and forecast 2022-2027 
• Exhibit 64: Chart on Statins – Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Data Table on Statins – Market size and forecast 2022-2027 ($ billion)
• Exhibit 66: Chart on Statins – Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Statins – Year-over-year growth 2022-2027 (%)

• 7.7 Others – Market size and forecast 2022-2027 
• Exhibit 68: Chart on Others – Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Data Table on Others – Market size and forecast 2022-2027 ($ billion)
• Exhibit 70: Chart on Others – Year-over-year growth 2022-2027 (%)
• Exhibit 71: Data Table on Others – Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by Type 
• Exhibit 72: Market opportunity by Type ($ billion)
• Exhibit 73: Data Table on Market opportunity by Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 74: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 75: Chart on Market share by geography 2022-2027 (%)
• Exhibit 76: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 77: Chart on Geographic comparison
• Exhibit 78: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027 
• Exhibit 79: Chart on North America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on North America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027 
• Exhibit 83: Chart on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 Asia – Market size and forecast 2022-2027 
• Exhibit 87: Chart on Asia – Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on Asia – Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on Asia – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Asia – Year-over-year growth 2022-2027 (%)

• 9.6 Rest of World (ROW) – Market size and forecast 2022-2027 
• Exhibit 91: Chart on Rest of World (ROW) – Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on Rest of World (ROW) – Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on Rest of World (ROW) – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Rest of World (ROW) – Year-over-year growth 2022-2027 (%)

• 9.7 US – Market size and forecast 2022-2027 
• Exhibit 95: Chart on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.8 Canada – Market size and forecast 2022-2027 
• Exhibit 99: Chart on Canada – Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on Canada – Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on Canada – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Canada – Year-over-year growth 2022-2027 (%)

• 9.9 Germany – Market size and forecast 2022-2027 
• Exhibit 103: Chart on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.10 China – Market size and forecast 2022-2027 
• Exhibit 107: Chart on China – Market size and forecast 2022-2027 ($ billion)
• Exhibit 108: Data Table on China – Market size and forecast 2022-2027 ($ billion)
• Exhibit 109: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.11 India – Market size and forecast 2022-2027 
• Exhibit 111: Chart on India – Market size and forecast 2022-2027 ($ billion)
• Exhibit 112: Data Table on India – Market size and forecast 2022-2027 ($ billion)
• Exhibit 113: Chart on India – Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on India – Year-over-year growth 2022-2027 (%)

• 9.12 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ billion)
• Exhibit 116: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 Abbott Laboratories
• Exhibit 123: Abbott Laboratories – Overview
• Exhibit 124: Abbott Laboratories – Business segments
• Exhibit 125: Abbott Laboratories – Key offerings
• Exhibit 126: Abbott Laboratories – Segment focus

• 12.4 AbbVie Inc.
• Exhibit 127: AbbVie Inc. – Overview
• Exhibit 128: AbbVie Inc. – Product / Service
• Exhibit 129: AbbVie Inc. – Key news
• Exhibit 130: AbbVie Inc. – Key offerings

• 12.5 AstraZeneca PLC
• Exhibit 131: AstraZeneca PLC – Overview
• Exhibit 132: AstraZeneca PLC – Product / Service
• Exhibit 133: AstraZeneca PLC – Key news
• Exhibit 134: AstraZeneca PLC – Key offerings

• 12.6 Boehringer Ingelheim International GmbH 
• Exhibit 135: Boehringer Ingelheim International GmbH – Overview
• Exhibit 136: Boehringer Ingelheim International GmbH – Business segments
• Exhibit 137: Boehringer Ingelheim International GmbH – Key news
• Exhibit 138: Boehringer Ingelheim International GmbH – Key offerings
• Exhibit 139: Boehringer Ingelheim International GmbH – Segment focus

• 12.7 Bristol Myers Squibb Co. 
• Exhibit 140: Bristol Myers Squibb Co. – Overview
• Exhibit 141: Bristol Myers Squibb Co. – Product / Service
• Exhibit 142: Bristol Myers Squibb Co. – Key news
• Exhibit 143: Bristol Myers Squibb Co. – Key offerings

• 12.8 Dr Reddys Laboratories Ltd. 
• Exhibit 144: Dr Reddys Laboratories Ltd. – Overview
• Exhibit 145: Dr Reddys Laboratories Ltd. – Business segments
• Exhibit 146: Dr Reddys Laboratories Ltd. – Key offerings
• Exhibit 147: Dr Reddys Laboratories Ltd. – Segment focus

• 12.9 Eli Lilly and Co.
• Exhibit 148: Eli Lilly and Co. – Overview
• Exhibit 149: Eli Lilly and Co. – Product / Service
• Exhibit 150: Eli Lilly and Co. – Key news
• Exhibit 151: Eli Lilly and Co. – Key offerings

• 12.10 Endo International Plc 
• Exhibit 152: Endo International Plc – Overview
• Exhibit 153: Endo International Plc – Business segments
• Exhibit 154: Endo International Plc – Key news
• Exhibit 155: Endo International Plc – Key offerings
• Exhibit 156: Endo International Plc – Segment focus

• 12.11 GlaxoSmithKline Plc
• Exhibit 157: GlaxoSmithKline Plc – Overview
• Exhibit 158: GlaxoSmithKline Plc – Business segments
• Exhibit 159: GlaxoSmithKline Plc – Key news
• Exhibit 160: GlaxoSmithKline Plc – Key offerings
• Exhibit 161: GlaxoSmithKline Plc – Segment focus

• 12.12 Merck and Co. Inc.
• Exhibit 162: Merck and Co. Inc. – Overview
• Exhibit 163: Merck and Co. Inc. – Business segments
• Exhibit 164: Merck and Co. Inc. – Key news
• Exhibit 165: Merck and Co. Inc. – Key offerings
• Exhibit 166: Merck and Co. Inc. – Segment focus

• 12.13 Novartis AG
• Exhibit 167: Novartis AG – Overview
• Exhibit 168: Novartis AG – Business segments
• Exhibit 169: Novartis AG – Key offerings
• Exhibit 170: Novartis AG – Segment focus

• 12.14 Otsuka Holdings Co. Ltd. 
• Exhibit 171: Otsuka Holdings Co. Ltd. – Overview
• Exhibit 172: Otsuka Holdings Co. Ltd. – Business segments
• Exhibit 173: Otsuka Holdings Co. Ltd. – Key offerings
• Exhibit 174: Otsuka Holdings Co. Ltd. – Segment focus

• 12.15 Pfizer Inc.
• Exhibit 175: Pfizer Inc. – Overview
• Exhibit 176: Pfizer Inc. – Product / Service
• Exhibit 177: Pfizer Inc. – Key news
• Exhibit 178: Pfizer Inc. – Key offerings

• 12.16 Sanofi
• Exhibit 179: Sanofi – Overview
• Exhibit 180: Sanofi – Business segments
• Exhibit 181: Sanofi – Key news
• Exhibit 182: Sanofi – Key offerings
• Exhibit 183: Sanofi – Segment focus

• 12.17 Teva Pharmaceutical Industries Ltd. 
• Exhibit 184: Teva Pharmaceutical Industries Ltd. – Overview
• Exhibit 185: Teva Pharmaceutical Industries Ltd. – Business segments
• Exhibit 186: Teva Pharmaceutical Industries Ltd. – Key news
• Exhibit 187: Teva Pharmaceutical Industries Ltd. – Key offerings
• Exhibit 188: Teva Pharmaceutical Industries Ltd. – Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 189: Inclusions checklist
• Exhibit 190: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 191: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 192: Research methodology
• Exhibit 193: Validation techniques employed for market sizing
• Exhibit 194: Information sources

• 13.5 List of abbreviations
• Exhibit 195: List of abbreviations

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