An In-depth Market Insights of Palliative Care Market including Private Residence Care, Hospice Inpatient Care, Hospital Inpatient Care, and Nursing Home and Residential Facility Care Covering 30+ Countries like United States, United Kingdom, Germany, France, Norway, Sweden, Saudi Arabia, United Arab Emirates, Japan, Korea, Australia, New Zealand, and Others.
NEWARK, DE / ACCESSWIRE / August 30, 2024 / The palliative care market foresees its current market valuation at USD 13.45 billion in 2024 and is predominantly considered to surge at a valuation of USD 17.73 billion by 2034, projected at a CAGR of 2.8%.
Research for the palliative care market demonstrates integrating palliative care alongside curative treatments that improvised symptom management, embellished patient and family satisfaction, and reduced hospitalizations.
Healthcare systems and providers prioritize palliative care services by integrating them into various care settings, including hospitals, outpatient clinics, long-term care facilities, and community-based programs.
The aging population is more prone to chronic diseases, contributing to the push in demand for palliative care services worldwide. Improvisations in medical technology and healthcare delivery have helped patients to live longer with complex medical conditions despite requiring comprehensive support to manage their symptoms and maintain quality of life.
Despite the augmenting demand for palliative care, access to such services remains restricted in many regions due to certain barriers, such as inadequate funding, workforce shortages, and limited public awareness.
Applauding these challenges requires concerted efforts from healthcare stakeholders, policymakers, and community advocates that ensure equitable access to high-quality palliative care for all needy patients.
Which Drivers Underpin Palliative Care Industry Expansion?
Increasing incidence of life-threatening diseases Likely to Augment Palliative Care Sales
The increasing incidence of life-threatening diseases such as cancer, cardiovascular and infectious diseases is anticipated to be the major growth driver for the global palliative care market. Other factors responsible for the rise in the global palliative care market can be the growing number of palliative care centers worldwide, extending application for homecare, increasing the number of qualified physicians for hospice & palliative care, expanding aging demographics, etc.
In the current scenario, the palliative centers and medical care or long-term care centers are majorly focused on overall palliative care procedures that enhance healthcare quality in three critical ways: successfully soothes physical symptoms, fortifies patient-family-doctor correspondence and basic leadership and guarantees very much planned care crosswise over healthcare services & medical care or home care settings.
Comprehensive Market Insights: Full Report Overview
https://www.futuremarketinsights.com/reports/palliative-care-market
Key Takeaways from the Market Study
Under service type, hospital inpatient care is accounted to hold a market share of 29.8% in 2024.
Canada is estimated to register at a CAGR of 2.4% by 2034.
France experiences significant growth, projected at a CAGR of 4.8% by 2034.
Based on end user, the palliative care centers segment is accounted to hold a market share of 34.7% in 2024.
"The boost in the prevalence of chronic and life-limiting illness is considered one significant factor pushing the palliative care market,"- says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Competitive Landscape
A mix of healthcare providers, hospices, and specialized palliative care centers characterizes the competitive landscape of the palliative care market.
Various partnerships and collaborations are strategized in common, focusing on enhancing service delivery and expanding market reach amidst a boost in demand for palliative care services.
Top Key Players
Center to Advance Palliative Care (CAPC)
UCLA Health
National Hospice and Palliative Care Organization
Vitas Healthcare Corporation
CHI Franciscan
University of Washington (UW Medical Center & UW Medicine)
Seymour Health
KEHPCA (Kenya Hospices and Palliative Care Association)
Sunrise Senior Living LLC
Some of the key developments are:
In January 2022, Vynca Secured D30M to enlarge the palliative care platform in the United States. Questa Capital leads, joined by existing investors, including Generator Ventures, First Trust Capital Partners, 4100 Group, and OCA Ventures.
In November 2022, Home Instead Inc. partnered with DispatchHealth for In-Home Acute Care. The collaboration allowed Home Instead clients access to home-level care through DispatchHealth for its in-home urgent care services, as Home Health Care News (HHCN) reported.
More Valuable Insights Available
Future Market Insights offers an unbiased global palliative care market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034
To understand market opportunities, the palliative care market is segmented based on Service Type (Private Residence Care, Hospice Inpatient Care, Hospital Inpatient Care, Nursing Home and Residential Facility Care, Others), End User (Hospitals, Home Care Settings, Palliative Care Centres, Long-Term Care Centres & Rehabilitation Centres) and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa)
Authored By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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