Palliative Care Market Size, Share, Major Companies, Revenue Analysis, Till 2027

The palliative care market is expected to register a CAGR of 8.69% during the forecast period of 2021 to 2027.

Life is not the same in every human being's case. There are some life-threatening chronic diseases such as cancer, cardiovascular diseases, respiratory diseases, diabetes, liver disease, kidney failure, etc. Such life-threatening diseases require palliative care. Palliative care services include preventing, correct assessment and providing relief by early identification treatment of pain caused by the disease. The treatment methods include physical, psychological, and spiritual ways. In short, palliative care supports the patient and their families, thereby increasing their life until death. Palliative care can be provided with the help of a specialized team of professionals.

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Palliative care is a part of the healthcare industry. The rise in chronic patients who require special care in clinics and hospitals has boosted the palliative care market. Many people prefer palliative care at home as they are busy and there is no one to care for their elders. This also is one of the reasons for the palliative care market. The awareness of these services and technological improvements related to remote monitoring are factors that boost the palliative care market. In some countries, the respective government funds its citizens for such services. This act supports the growth in the palliative care market. But in underdeveloped countries, funding by the government is not possible, which may result in destroying the palliative care market.

Market Segmentation

The palliative care market can be segmented on age group, condition, type of care, provider, and geography. According to the condition category, it can be further divided based on the type of diseases like cancer, cardiovascular diseases, Alzheimer's disease, respiratory diseases, etc. According to the type of care category, the market can be divided into hospice inpatient care, residential facility care, hospital inpatient care, and nursing homes. According to age group, it can be divided into adult and paediatric. These can be further segregated based on hospitals, clinics, and nursing homes. According to the provider or the end-use category, the palliative care market can be divided into hospitals, clinics, home care, palliative care centres and others like rehabilitation centres. When divided geography-wise, it can be divided into North America, Europe, Asia -Pacific, and the rest of the world.

Regional Classification

According to the conditioning segment, the cancer segment leads to the highest revenue in the palliative care market. The cardiovascular diseases segment also demands palliative care, so in the future, even this segment may lead to the highest revenue. The adult group dominates the palliative care market when the age group segment is considered. According to the geography-wise analysis, North America has the largest market share, followed by Europe. When the provider's segment is analyzed, the hospitals and clinics have the largest share in the palliative care market. Even the home care segment is becoming popular as many people prefer palliative care services at their homes. However, many providers are expanding their business to underdeveloped countries and providing services. In this scenario, even the underdeveloped countries may contribute to the palliative care market in future.

List of Key Companies Covered in this report:

Vitas Healthcare Corporation (US)
Sunrise Senior Living, LLC (US)
Home Instead, Inc. (US)
Amedisys, Inc. (US)
Genesis Healthcare, Inc. (Germany)
LHC Group, Inc. (Germany)
Revera Inc. (US)
FC Compassus LLC (Japan)
Kindred Healthcare (Sweden)
Seymour Health (US)

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Industry News

The global analysis of the palliative care market reveals that by the end of the year 2030, the market size is expected to reach 25,309 million USD at a CAGR of 8.4%. As many people are busy with their employment, they prefer home care palliative care services. This may also lead to rise in the palliative care market in future. An improvement in technology related to monitoring will provide many new opportunities and thereby rise the palliative care market.

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