Leading Growth Driver in the End Of Life Planning Market in 2025: A Significant Proportion Of Individuals Reaching Retirement Age Is A Factor Behind the Growth Of The End-of-Life Planning Market Driver's Influence

What Are the Market Size and Growth Forecast for the End Of Life Planning Market?
The market size for end of life planning has seen robust growth in the past years. A growth from $33.62 billion in 2024 to $36.93 billion in 2025 is projected, with a compound annual growth rate (CAGR) of 9.8%. Factors contributing to this growth during the historic period include a rise in the aging population, knowledge of advance directives, prevalence of chronic illness, economic unpredictability, and a heightened demand for expert advice.

The market size for end of life planning is projected to witness substantial expansion in the coming years, escalating to $53.08 billion in 2029 with a compound annual growth rate (CAGR) of 9.5%. The growth during the predicted period can be ascribed to factors such as increasing knowledge and education, escalating healthcare expenses, governmental policies and laws, societal changes, and growth of service providers. Key trends during the forecast period encompass virtual funeral services, managing digital legacies, cultural and religious personalization, proactive planning and subscription offerings, mourning support services, and law and financial planning instruments.

What Are the Forces Behind the Rapid Growth of the End Of Life Planning Market?
The upsurge in the number of people reaching the age of retirement is projected to stimulate the expansion of the end-of-life planning market. When individuals traditionally stop working full-time and qualify for retirement benefits, this is often referred to as the retirement age. Due to advancements in healthcare, more and more individuals are reaching the retirement age, living longer, which, along with the aging baby boomer generation and decreasing birth rates, is leading to a lower percentage of younger individuals in society. End-of-life planning is a vital aspect for these retirees to ensure their wishes regarding care and treatment are honored during their latter part of life. For example, data from Statistics Canada - the national statistical office in Canada - showed in August 2023 that around 21.8% of Canadians aged 55 to 59 were either fully or partially retired. This figure doubled for Canadians aged 60 to 64 to 44.9 % and increased more to almost double to 80.5% for those aged 65 to 69. Hence, the rise in the fraction of individuals reaching the retirement age is a key driving factor influencing the growth of the end-of-life planning market.

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Which Key Market Leaders Are Driving End Of Life Planning Industry Growth?
Major companies operating in the end of life planning market are 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

What Are the Emerging Trends in the End Of Life Planning Industry?
Leading businesses in the end-of-life planning sector are honing in on the delivery of personalized solutions, such as self-authored obituaries, via user-centric digital platforms. A self-authored obituary provides a written or audio account of one's life story and impact, frequently created ahead of time as part of end-of-life arrangement. For example, in January 2023, Newham Council, a government enterprise in the UK, introduced the MyWishes digital tool, specifically designed for end-of-life preparation and appropriate for the local populace. This tool gives inhabitants the ability to register and convey their care wishes, including funeral desires and self-authored obituaries, as well as to make necessary plans and deliver farewell messages to loved ones upon their passing. This lessens the burden on the bereaved family members. Users have the option to detail their health and social care preferences and distribute printed documents to their medical caregivers.

What Are the Main Segments in the End Of Life Planning Market?
The end of life planning market covered in this report is segmented -

1) By Service: Funeral Services, Estate Planning, Digital Legacy Services, Grief Counseling And Support, Advanced Healthcare Directives, Other Services
2) By Demographic: Elderly Population, Middle Age Population, Young Adult
3) By Area: Urban, Rural

Subsegments:
1) By Funeral Services: Burial Services, Cremation Services, Memorial Services, Funeral Arrangements
2) By Estate Planning: Will Creation, Trust Management, Estate Administration, Power Of Attorney
3) By Digital Legacy Services: Social Media Account Management, Digital Asset Preservation, Online Data Storage And Transfer, Digital Executor Services
4) By Grief Counseling And Support: Bereavement Counseling, Support Groups, Online Grief Support, Professional Therapy
5) By Advanced Healthcare Directives: Living Wills, Medical Power Of Attorney, Do Not Resuscitate (DNR) Orders, Healthcare Proxy
6) By Other Services: Legacy Planning, Ethical Wills, Pet Care Planning, Financial Planning For End Of Life

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Which Geographic Area Leads the End Of Life Planning Market?
North America was the largest region in the end of life planning market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the end of life planning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

What Is Covered In The End Of Life Planning Global Market Report?

- Market Size Analysis: Analyze the End Of Life Planning Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the End Of Life Planning Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall End Of Life Planning Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the End Of Life Planning Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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