Palliative Care market Latest Trending Report Is Booming Globally By Top Leading Players Vitas Healthcare Corporation, Kindred Healthcare Incorporated, Sunrise Senior Living LLC, Etc.

Market Size – USD 2.95 Billion in 2018, Market Growth - CAGR of 8.0%, Market Trends – The rising demand for Palliative Care for treating Alzheimer’s

The Global Palliative Care market is forecast to reach USD 6.10 Billion by 2027, according to a new report by Reports and Data. Palliative care can be described as a specialized form of health care service provided to patients having serious illnesses. The focus of this care service is on providing relief from symptoms of particular ailments and stress related to life-threatening conditions. The patient, as well as their family members, undergoes this treatment to cope up with the condition in an effective manner. The care service is provided by trained specialists, doctors, and nurses specializing in this field. The focus of the treatment is to help patients gain strength to conduct daily activities coping with the depression or burden of the life-threatening condition.

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Key participants include Skilled Healthcare Group Incorporated, Vitas Healthcare Corporation, Kindred Healthcare Incorporated, Sunrise Senior Living LLC, Home Instead Senior Care Incorporated, Gentiva Health Services Incorporated, Genesis HealthCare Corporation, Amedisys Incorporated, GGNSC Holdings LLC and Senior Care Centers of America.

For the purpose of this report, Reports and Data have segmented the global Palliative Care market, according to Care Type, Application, End-user, and Region:

Care Type Outlook (Revenue, USD Billion; 2016-2027)
• Hospital Inpatient Care
• Private Resident Car
• Hospice Resident Care
• Nursery and Residential Facility Car
• Others

Application Outlook (Revenue, USD Billion; 2016-2027)
• Cancer
• Chronic obstructive pulmonary disease (COPD)
• Cardiac diseases
• Alzheimer’s
• Parkinson’s
• Kidney failure
• Amyotrophic Lateral Sclerosis (ALS)
• Others

End-user Outlook (Revenue, USD Billion; 2016-2027)
• Hospital
• Palliative care centers
• Home care settings
• Long-term care centers & Rehabilitation Centers

Regional Outlook (Revenue, USD Billion; 2016-2027)
• North America
• Europe
• Asia Pacific
• MEA
• Latin America

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The care service is usually provided to patients suffering from stress of life threatening conditions like Parkinson’s, Amyotrophic Lateral Sclerosis (ALS), kidney disease, Alzheimer’s, cancer, among others. This treatment helps in treating difficulty in sleeping, anxiety, nausea, loss of appetite, shortness of breath, fatigue, depression, constipation, which are resultant of severe ailments. Life-threatening conditions can result in a feeling of great grief and give up on life, which harm the health status of patients. By controlling such negative emotions and related adverse impacts on the health of patients, this care service helps effective coping with the life threatening conditions. Factors like increasing number of geriatric population, the rising incidence rate of life-threatening diseases is spurring the growth of the market. In regards to Region, Europe is occupying a considerable share of the market. The market share held by the region is resultant of expanding healthcare sector, rising geriatric population, and development of certification for palliative care, which is supporting the growth of the market in this region.

Further key findings from the report suggest

• The Palliative Care market held a market share of USD 2.95 Billion in the year 2018 that is forecasted to grow at a rate of 8.0% during the forecast period.

• In context to Care Type, the Hospice Resident Care segment is projected to witness the fastest growth rate of 11.3% during the forecast period, which expected to hold, 14.5% of the market by 2027. The growth rate witnessed by the Hospice Resident Care segment is attributed to the increasing awareness about the importance of this care in life-threatening conditions and elevating number of residential hospice, particularly in developing region, which is contributing to the growth rate witnessed by this segment.

• Technological advancements in the healthcare sector is also fostering the market growth. One of such mentionable advancement is remote monitoring. Sensors in wearable devices like smartwatches transmits signal to the health care team, about the status of patients like when a patient has fallen over. As elaborated by the Institute of Electrical and Electronic Engineers, in the November 2016 edition of IEEE Pulse magazine, remote monitoring via wearable sensors helps in predicting the probability of falls, detect changes in movement and send alerts to caregivers promptly. These advancements help in enhancing the quality of care services.

• In context to Application, the Cancer segment held the largest market share of 40.0% in 2018, with a growth rate of 8.5% during the forecast period. The market share held by the Cancer segment is attributed to the fact that nearly half of palliative care hospitalizations are related to cancer as the principal diagnosis, contributing to high demand for this care service for treating the symptoms associated with the condition.

• In regards to the region, Asia Pacific is projected to witness the fastest growth rate of 8.6% during the forecast, which is expected to hold 0% of the market by 2027.

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Major highlights of the report:

An all-inclusive evaluation of the parent market
The evolution of significant market aspects
Industry-wide investigation of market segments
Assessment of the market value and volume in the past, present and forecast years
Market share evaluation
Study of niche industrial sectors
Tactical approaches of the market leaders
Lucrative strategies to help companies strengthen their position in the market

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