Palliative Care Market Estimated to Expand at a Robust CAGR over 2027

World Health Organization (WHO) defines palliative care as an approach to improve the quality of life of a patients and their families who are facing difficulties related to the fatal illness by providing a treatment for relieving the symptoms of an underlying disease/disorder. Whereas, Hospice care is a specific type of palliative care procedure to help the terminally ill patients to make their final months/days of life soothing and less painful. Palliative care is provided to patients suffering from diseases such as cancer, congestive heart failure (CHF), CNS disorders, chronic pulmonary obstructive disease (COPD) and others, providing symptomatic relief for nausea & vomiting, diarrhea, pain & anxiety, loss of appetite and many more.

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International Association for Hospice and Palliative Care (IAHPC) have listed 32 essential medicines for the hospice and palliative care, including analgesics, antiemetic etc. Palliative care concentrates on furnishing patients with the alleviation of the side effects, stress, and worry of a genuine sickness irrespective of the diagnosis. The objective is to enhance personal satisfaction for both the patient and the family. Palliative care is given by a group of doctors, specialists, medical caretakers, and different masters, who cooperate with a patient's different specialists to give an additional layer of help. It is fitting at any age and at any phase in a genuine ailment, and can be furnished alongside remedial treatment.

Palliative Care Market: Drivers and Restraints

Increasing incidence of life-threatening diseases such as cancer, cardiovascular and infective diseases is anticipated to be the major growth driver for the global palliative care market. Other factors responsible for rise in global palliative care market can be growing number of palliative care centers worldwide, extending application for homecare, increasing number of qualified physicians for hospice & palliative care, expanding aging demographics etc. But the high cost of the treatment can be a major restraint for the global palliative care market. Less expansion of medical care facilities for old age group people in Asia Pacific and Middle East region, reimbursement scenario and less private or public funding to hospital facilities and other medical care centers act as a global restraint to the overall palliative care market. In the current scenario, the palliative centers and medical care or long term care centers are majorly focused on overall palliative care procedures that enhances 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.

Palliative Care Market: Segmentation

The global palliative care market has been classified on the basis of service type, end user and geography.

Based on service type, the global palliative care market is divided into following:

Private residence care
Hospice inpatient care
Hospital inpatient care
Nursing home and residential facility care
Others
Based on end user type, the global palliative care market is divided into following:

Hospitals
Home Care Settings
Palliative Care Centers
Long Term Care Centers & Rehabilitation Centers
Palliative Care Market: Overview

The global market for palliative care is expected to flourish over the forecast period of 2017-2027 due to increasing awareness about physical, social and psychological, needs of patients with life-threatening diseases and their families. Majority of people receiving hospice care are the cancer patients, according to WHO.

Palliative Care Market: Region-wise Overview

Geographically, the global market for palliative care is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America is expected to take greater share in global palliative care market because of good reimbursement and insurance coverage for palliative care services. Countries like Mexico in the Latin American region have more number palliative care centers for children.

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Some of the key players and healthcare service providers in global palliative care market are: Center to Advance Palliative Care (CAPC), UCLA Health, National Hospice and Palliative Care Organization, VITAS Healthcare, CHI Franciscan, University of Washington (UW Medical Center & UW Medicine), Seymour Health, KEHPCA (Kenya Hospices and Palliative Care Association) & others.

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