Hospice services market is anticipated to grow at a CAGR of 9.10% during the forecast period (2023-2030). The market’s growth is attributed to number of chronic conditions seeking palliative care. Palliative care is necessary for a wide variety of chronic disorders and is additionally required for a limited number of diseases. Cardiovascular conditions, cancer, long-term respiratory conditions, HIV/ AIDS, diabetes, and other conditions can be among problems. Palliative care services are in increasing demand as the number of chronic diseases globally rises, and that makes them a crucial component of healthcare delivery. According to the World Health Organization (WHO), in August 2020, palliative care is a right that is protected under the human right to health and should be tailored to individual needs and preferences. Many types of chronic conditions require palliative care, such as cardiovascular diseases (38.5%), cancer (34.0%), chronic respiratory diseases (10.3%), AIDS (5.7%) and diabetes (4.6%). Additionally, pain and difficulty in breathing are two of the most frequent symptoms experienced by patients in requirement of palliative care, with 80.0% of AIDS or cancer patients and 67% of cardiovascular disease or chronic obstructive pulmonary disease (COPD) patients experiencing moderate to severe pain at the end of their lives.
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The global hospice services market is segmented on the services, care type, and end-user. Based on the services, the market is sub-segmented into nursing services, medical equipment and supplies, counseling services, short term inpatient services, physician services, and others. Based on the care type, the market is sub-segmented into acute care, and respite care. Furthermore, on the basis of end-user, the market is sub-segmented into home settings, hospitals, specialty nursing homes, hospice care centers, and others. The acute care subcategory is expected to capture a significant portion of the market share within the care type segment. This is attributed to the significant increase in the number of patients suffering from long-term conditions such diabetes, heart disease, stroke, and cancer. Furthermore, more technological developments aimed at raising treatment quality are anticipated to drive this market’s expansion.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Hospice Services Market Report Segment
By Services
- Nursing Services
- Medical Equipment and Supplies
- Counseling Services
- Short Term Inpatient Services
- Physician Services
- Others (Spiritual Care, and Bereavement Support)
By Care Type
- Acute Care
- Respite Care
By End-User
- Home Settings
- Hospitals
- Specialty Nursing Homes
- Hospice Care Centers
- others (Government & Regulatory Bodies, and Family Members & Caregivers)
Global Hospice Services Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global hospice services market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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