Westford, USA, June 13, 2023 (GLOBE NEWSWIRE) -- The global palliative care market size is expected to reach USD 6.34 billion by 2030 and exhibit a CAGR of 7.7% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing prevalence of chronic diseases, the aging population, patient-centered care, government support, and technological advancement are fueling the Market's growth.
Integrated Care and Staffing Challenges to Promote the Use of Palliative Care
At a global scale, development in integrated care, home-based care, telemedicine, quality metrics and staffing challenges are the trends promoting the growth of a palliative type of care.
Moreover, a shortage of trained palliative care professionals leads to staffing challenges in some areas. This shortage is expected to continue in the coming years, and providers must find new ways to address this issue.
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Home-based Palliative Care Type Demand to Grow Substantially in the Forecast Period
Home-based Palliative Care type dominated the global market as they provide patients with more personalized care. It is also less expensive compared to other palliative types.
Moreover, the aging population, prevalence of chronic illnesses, and availability of healthcare resources will drive the demand for the type.
Cancer is the Leading Application Segment
In terms of application, the cancer segment is the leading segment due to the high prevalence of the disease. In addition, cancer care demands are high for pain management services.
Palliative care is an essential part of cancer treatment, as it helps to improve the quality of life and reduce suffering for patients with advanced or metastatic cancer.
Asia-Pacific and North America are the leading Market for Using Clean Energy
Region-wise, North America is one of the largest growing markets due to the high prevalence of chronic diseases. In addition, the strong emphasis on pain management and quality of life in the region also promotes the growth.
Asia Pacific is expected to be the fastest-growing market for palliative care in the coming years, due to the increasing prevalence of chronic diseases and cancer in countries such as China, India, and Japan. The region is also seeing significant investments in healthcare infrastructure and a growing focus on palliative care as a means of improving quality of life for patients with advanced illnesses.
Browse in-depth TOC on " Palliative Care Market "
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Palliative Care Market Report Suggests:
- Kain Capital LLC, a top-tier private equity firm with a focus on leveraging technology to enable healthcare services companies, has recently revealed the formation of PERA Holdings, a new holding company for hospice investments. As a part of this announcement, Kain Capital has also disclosed the platform's first acquisition, which is set to enhance and expand its offerings.
- In terms of application, the cancer segment dominates due to the high prevalence of disease
- In terms of type, the Home-based palliative care type segment is projected to gain more popularity as it provides more personalized care
- North America and Asia Pacific are leading markets and will continue to exhibit dominance in the global market mainly due presence of major market players
Palliative Care Market Segmentation:
The global palliative care market report is segmented based on Product type, application, and region.
By Type
- Hospice Inpatient Care
- Hospice Residential Care
- Hospice Home Care
- Hospital Inpatient Care
- Others
By Application
- Cancer
- Cardiac Diseases
- Respiratory Diseases
- Neurological Diseases
- Others
By Region
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- RoE
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- RoLA
- Middle-East and Africa
- South Africa
- GCC Countries
- Rest of MEA
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Palliative Care Market Major Company Profiles:
- Amedisys, Inc.
- Ascension Health
- B. Braun Melsungen AG
- Brookdale Senior Living Solutions
- Care Dimensions
- Covenant Health
- Four Seasons Hospice & Palliative Care
- Genesis Healthcare Corporation
- Gentiva Health Services
- HCR ManorCare, Inc.
- Kindred Healthcare, Inc.
- LHC Group, Inc.
- National Hospice and Palliative Care Organization (NHPCO)
- Palliative Care Australia
- Seasons Hospice & Palliative Care
- Skilled Healthcare Group, Inc.
- St. Luke's Hospital & Health Network
- The Hospice of the Chesapeake
- VITAS Healthcare Corporation
- UnityPoint Health
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