Segments - Palliative Care Market by Age Groups (Adult and Pediatric), Conditions (Cancer, Chronic Respiratory Diseases, Cardiovascular Diseases, and Others), Providers (Nursing Homes, Hospitals & Clinics, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030
The global palliative care market size was valued at USD 11.9 billion in 2021 and is expected to surpass USD 25.1 billion by 2030, expanding at a CAGR of 8.2% during the forecast period, 2022–2030. The growth of the market is attributed to the wide prevalence of chronic illness as well as rising spending for health diagnostics and disease treatment.
Palliative care refers to a specialized medical care service for patients having severe or life-threatening illness. This care service is primarily provided by a team of specialized medical staffs including doctors, nurses, and other specialists to provide comfort and relief from stress of patients. These medical staffs normally coordinate with personal doctors of patients to have better knowledge about the illness condition and past history of patients to ensure better personalized comfort service. However, the service is not aimed at curing the disease but alleviating the illness of a patient. So, it is given on the basis of the different needs of a patient but not on prognosis of a patient. Irrespective of ages, if a patient is once diagnosed with serious illness such as cancer or heart-related diseases, palliative care for the patient can begin as per the needs of the patient along with the regular curative treatment.
The COVID-19 pandemic had offered several opportunities for the market expansion due to rising demand for healthcare services, especially palliative care for patients with chronic illness. Moreover, as each country was facing a challenge to fight the virus spread and make strategies to take care of the patients as the number of the COVID-19 patients were rising significantly, the call for palliative care workers had surged across the globe.
The report on the global palliative care market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes | Details |
Report Title | Palliative Care Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year | 2021 |
Historic Data | 2019–2020 |
Forecast Period | 2022–2030 |
Segmentation | Age Groups (Adult and Pediatric), Conditions (Cancer, Chronic Respiratory Diseases, Cardiovascular Diseases, and Others), and Providers (Nursing Homes, Hospitals & Clinics, and Others) |
Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report | VITAS Healthcare; Seymour Health; UCLA Health; Amedisys, Inc.; Skilled Healthcare Group Inc.; Home Instead, Inc.; Center to Advance Palliative Care; Gentiva Health Services Inc.; Sunrise Senior Living Centers; Senior Care Centers of America, Inc.; National Hospice and Palliative Care Organization; and CHI Franciscan |
Based on age groups, the global palliative care market is bifurcated into adult and pediatric. The adult segment accounted for a major market share in 2021 and is expected to expand at a rapid pace during the forecast period owing to the presence of a large pool of the adult population suffering from chronic diseases such as diabetes, cancer, and CVDs. Wide availability of a variety of palliative care for home setting treatment further boosts the segment.
On the basis of conditions, the market is segmented into cancer, chronic respiratory diseases, cardiovascular diseases, and others. The cancer segment held a key market share in 2021 and is projected to register a steady growth rate during the forecast period owing to wide prevalence of the disease and high spending on palliative care specialist for cancer treatment, especially in developed countries. Rapid expansion of cancer palliative care technology advancements in the development
On the basis of providers, the global palliative care market is segregated into nursing homes, hospitals & clinics, and others. The hospitals & clinics segment is projected to register a considerable CAGR during the forecast period owing to rapid establishment of palliative care centers in hospitals and expansion of clinic-based specialized application of palliative care. Increasing number of specialized physicians for palliative care available in hospitals and clinics further fuels the segment.
In terms of regions, the global palliative care market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America constituted a large market share in 2021 and is expected to dominate the market during the projected period due to the presence of a large pool of the old population and wide prevalence of chronic illness among the population in the region. Wide acceptance of novel palliative care facilities among patients presents another key driver of the regional market.
The global palliative care market has been segmented on the basis of
Age Groups
Conditions
Providers
Regions
Key Players
Key players competing in the global palliative care market are VITAS Healthcare; Seymour Health; UCLA Health; Amedisys, Inc.; Skilled Healthcare Group Inc.; Home Instead, Inc.; Center to Advance Palliative Care; Gentiva Health Services Inc.; Sunrise Senior Living Centers; Senior Care Centers of America, Inc.; National Hospice and Palliative Care Organization; and CHI Franciscan. Some of these players have adopted a series of business development strategies including merger and acquisition, entering into partnership and collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share.
The key players of the market are VITAS Healthcare; Seymour Health; UCLA Health; Amedisys, Inc.; Skilled Healthcare Group Inc.; Home Instead, Inc.; Center to Advance Palliative Care; Gentiva Health Services Inc.; Sunrise Senior Living Centers; Senior Care Centers of America, Inc.; National Hospice and Palliative Care Organization; and CHI Franciscan.
North America accounted for a large market share in 2021.
The key drivers of the market include the wide prevalence of chronic illness as well as rising spending for health diagnostics and disease treatment.
The cancer segment held a key market share in 2021 and is projected to register a steady growth rate during the forecast period.
The global palliative care market size was valued at USD 11.9 billion in 2021 and is expected to surpass USD 25.1 billion by 2030.