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.
Market Trends, Drivers, Restraints, and Opportunities
- Rising geriatric population globally and wide prevalence of chronic illness among the population are key factors driving the market.
- Increasing spending on the healthcare sector and changing lifestyles of people are likely to boost the market during the forecast period.
- Growing awareness about various palliative care and the availability of service at affordable cost due to favorable government policies further push the market.
- Absence of advanced healthcare facilities and lack of high penetration of palliative care services, especially in developing regions act as the main hurdles that can hinder the market.
- Technological advancements and ongoing R&D programs for the development of innovative remote monitoring facilities and tools for patients with life-threatening diseases are creating huge growth opportunities for the market.
Scope of the Report
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 |
Market Segment Insights
Adult segment to expand at a rapid pace
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.
Wide prevalence of cancer drives the cancer 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
Rapid establishment of palliative care centers boosts the hospitals & clinics segment
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.
North America to dominate the market
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.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Palliative Care Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Palliative Care Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Palliative Care Market - Supply Chain
4.5. Global Palliative Care Market Forecast
4.5.1. Palliative Care Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Palliative Care Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Palliative Care Market Absolute $ Opportunity
5. Global Palliative Care Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Palliative Care Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Palliative Care Demand Share Forecast, 2019-2026
6. North America Palliative Care Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Palliative Care Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Palliative Care Demand Share Forecast, 2019-2026
7. Latin America Palliative Care Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Palliative Care Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Palliative Care Demand Share Forecast, 2019-2026
8. Europe Palliative Care Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Palliative Care Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Palliative Care Demand Share Forecast, 2019-2026
9. Asia Pacific Palliative Care Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Palliative Care Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Palliative Care Demand Share Forecast, 2019-2026
10. Middle East & Africa Palliative Care Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Palliative Care Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Palliative Care Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Palliative Care Market: Market Share Analysis
11.2. Palliative Care Distributors and Customers
11.3. Palliative Care Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. VITAS Healthcare
11.4.2. Seymour Health
11.4.3. UCLA Health
11.4.4. Amedisys, Inc.
11.4.5. Skilled Healthcare Group Inc.
11.4.6. Home Instead, Inc.
11.4.7. Center to Advance Palliative Care
11.4.8. Gentiva Health Service