End Of Life Planning Global Market 2024 - Top Companies, Industry Analysis, Growth Statistics And Outlook By 2033

The Business Research Company recently released a comprehensive report on the Global End Of Life Planning Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The end of life planning market size has grown strongly in recent years. It will grow from $30.75 billion in 2023 to $33.62 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to the increased aging population, awareness of advance directives, chronic illness prevalence, economic uncertainty, and increased demand for professional guidance.

The end of life planning market size is expected to see strong growth in the next few years. It will grow to $48.52 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to increasing awareness and education, rising healthcare costs, government policies and regulations, cultural shifts, and service provider expansion. Major trends in the forecast period include virtual funeral services, digital legacy management, cultural and religious customization, pre-planning and subscription models, bereavement support services, and legal and financial planning tools.

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Market Drivers and Trends:

The increased incidence of target diseases is expected to propel the cytotoxic drugs market going forward. Target disease refers to a specific illness or condition identified for focused medical research, treatment, or intervention efforts to improve patient outcomes. Major examples of target diseases include cancer, autoimmune diseases, genetic disorders, and more. Increased incidence of target diseases can be attributed to factors, such as genetic predisposition, environmental influences, and inadequate healthcare access. Cytotoxic drugs help to reduce the increased incidence of target diseases by killing or inhibiting the growth of disease-causing cells, thereby reducing their proliferation and spread. For instance, in February 2024, according to statistics published by the International Agency for Research on Cancer (IARC), a France-based specialized cancer agency of the World Health Organization (WHO), the world observed approximately 20 million new cancer cases and 9.7 million deaths in 2022, with projections indicating a 77% increase to over 35 million new cases by 2050. Additionally, in 2022, lung cancer was the most prevalent globally, with 2.5 million new cases (12.4% of all), followed by female breast cancer (2.3 million cases, 11.6%). Therefore, the increased incidence of target diseases is driving the growth of the cytotoxic drugs market.

Major companies operating in the end-of-life planning market are focused on providing personalized and customized solutions, such as self-authored obituaries, to offer a user-friendly digital platform. A self-authored obituary is a written or recorded reflection on one's life and legacy, often prepared in advance as part of end-of-life planning. For instance, in January 2023, Newham Council, a UK-based government company, launched the MyWishes digital platform, a tool designed for end-of-life planning and tailored for use by the local community. The platform enables residents to document and share care decisions, including funeral wishes, writing or recording self-authored obituaries, making necessary plans, and leaving goodbye messages for family and friends in the event of their death. This reduces stress on the family's post-bereavement. Users can specify health and social care preferences, and printed documents can be shared with healthcare providers.

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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Major Key Players of the Market:

MetLife Inc., Service Corporation International (SCI), Crossroads Hospice & Palliative Care, TrustandWill, Dignity plc, Better Place Forests Co., Gathered Here Pty Ltd., OpusXenta Pty Ltd., Farewill, Perfect Memorials, Funeralwise, Everplans, Eterneva, Lady Anne Funerals, Aftersteps, SafeWill, GoodTrust, GatheringUs, AfterSteps, EstateExec, Going With Grace, Funeralocity Inc., funeralOne, Death With Dignity

End Of Life Planning Market 2024 Key Insights:

• The end of life planning market size is expected to see strong growth in the next few years. It will grow to $48.52 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%.
• A Significant Proportion Of Individuals Reaching Retirement Age Is A Factor Behind the Growth Of The End-of-Life Planning Market
• Personalized And Customized End-Of-Life Planning Solutions To Plan End-Of-Life Arrangements In Advance
• North America was the largest region in the end of life planning market in 2023

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