Portland, OR, Sept. 16, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Palliative Care Market generated $11.20 billion in 2020, and is projected to reach $25.30 billion by 2030, witnessing a CAGR of 8.4% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Surge in government expenditure on healthcare, rise in the geriatric population, and increase in incidence of life-threatening diseases drive the growth of the global palliative care market. However, lack of access to palliative care services in underdeveloped countries restrains the market to some extent. On the other hand, high market growth potential in emerging markets presents new opportunities in the upcoming years.
COVID-19 scenario:
- The outbreak of the COVID-19 pandemic has affected around 210 countries across the globe, due to which, there was a rise in the workload for palliative care teams as most teams are small in number and different palliative care providers have Complementary roles.
- The use of telemedicine in palliative care showed signs of progress in symptom management, care with comfort, and patient & family satisfaction.
- Moreover, telemedicine simplified cooperation between the specialized palliative care team nurse and community nurses, which is a useful parameter in the COVID-19 pandemic.
The report offers detailed segmentation of the global palliative care market based on condition, age group, provider, and region.
Based on age group, the adults segment held the highest market share in 2020, holding more than 90% of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, this segment is estimated to register the highest CAGR of 8.6% from 2021 to 2030.
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Based on provider, the hospitals and clinics segment held the largest market share in 2020, holding more than two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, this segment is estimated to register the highest CAGR of 9.4% from 2021 to 2030.
Based on region, North America contributed to the highest share in terms of revenue in 2020, holding more than two-fifths of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 10.5% during the forecast period.
Leading players of the global palliative care market analyzed in the research include Amedisys, Inc., Chemed Corporation (Vitas Healthcare), Fillmore Capital Partners, LLC (Golden Living Centers/GGNSC Holdings LLC), Genesis HealthCare (Skilled Healthcare Group Inc.), Home Instead, Inc., Kindred Healthcare, LLC (Gentiva Health Services Inc.), Public Sector Pension Investment Board (Sunrise Senior Living Centers), Senior Care Centers of America, Inc, Seymour Health, and UCLA Health.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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