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Increasing Prevalence Of Life-Threatening Disorders Drives Growth In Palliative Services: Key Factor Driving The Growth In The Palliative Services Market
Palliative Services Market
What Is the Expected Palliative Services Market Size During the Forecast Period?
The palliative services market size is expected to grow from $8.44 billion in 2024 to $9.16 billion in 2025 at a CAGR of 8.4%. The growth is attributed to an aging population, rising chronic diseases, healthcare policy changes, medical technology advances, patient preferences, and non-profit support.
The palliative services market is expected to grow to $12.49 billion in 2029 at a CAGR of 8.1%. This growth is driven by expanding home care access, telemedicine integration, rising healthcare costs, and new care models. Key trends include digital health solutions, AI integration, data analytics, telehealth expansion, and innovations in symptom management.
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What Are the High-Growth Segments in the Palliative Services Market?
The palliative servicesmarket covered in this report is segmented -
1) By Type: Private Residence Care, Hospice Inpatient Care, Hospital Inpatient Care, Nursing Home, Residential Facility Care
2) By Application: Cancer, Congestive Heart Failure, Chronic Obstructive Pulmonary Disease (COPD), Kidney Failure, Alzheimer's, Parkinson's, Amyotrophic Lateral Sclerosis (ALS)
3) By End-User: Hospitals, Home Care Settings, Palliative Care Centers, Long-Term Care Centers And Rehabilitation Centers
Subsegments:
1) By Private Residence Care: Home Health Aides, Skilled Nursing Care, Personal Care Services
2) By Hospice Inpatient Care: General Inpatient Care, Respite Care, Continuous Care
3) By Hospital Inpatient Care: Acute Care Services, Consultation Services, Palliative Care Units
4) By Nursing Home: Long-Term Care Services, Short-Term Rehabilitation, Specialized Dementia Care
5) By Residential Facility Care: Assisted Living Facilities, Memory Care Units, Continuing Care Retirement Communities (CCRCs)
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What Key Drivers Are Expected to Influence Future Palliative Services Market Growth?
The increasing prevalence of life-threatening disorders is expected to drive the growth of the palliative services market. Life-threatening disorders, such as chronic diseases and conditions linked to aging, are becoming more common. Palliative services provide comprehensive care to manage symptoms and improve the quality of life for patients, offering support to both patients and their families. The American Heart Association reported nearly 932,000 deaths from cardiovascular diseases in 2023, an increase from the previous year. This rise in life-threatening disorders is contributing to the demand for palliative services.
Which Companies Hold the Largest Share Across Different Palliative Services Market Segments?
Major companies operating in the palliative services market are Kaiser Permanente Inc., Genesis Healthcare Inc., HCR ManorCare Inc., Kindred Healthcare LLC, LHC Group Inc., Amedisys Inc., Compassus LLC, PruittHealth Hospice Inc., Seasons Hospice And Palliative Care Inc., Vitas Healthcare LLC, Heart To Heart Hospice Inc., Crossroads Hospice And Palliative Care Inc., Landmark Health LLC, Agape Care Group LLC, Suncoast Hospice Inc., Curo Health Services Inc., Hospice Of The Valley Inc., Aspire Health Inc., Tidewell Hospice Inc., Ascend Hospice LLC, Palliative Care Center Of The San Joaquin Valley Inc., Hospice Of The Golden Isles Inc., Turn-Key Health LLC, Harmony Hospice Inc., Great Lakes Caring LLC
What Are the Latest Developing Trends in the Palliative Services Market?
Companies in the palliative services market are expanding access to palliative cancer care to improve the quality of life for cancer patients. For example, in September 2024, the Biller Family Foundation launched the Advance Palliative Cancer Care initiative, which advocates for comprehensive care that addresses the physical, emotional, spiritual, and social needs of cancer patients, ensuring a holistic approach to their treatment.
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What Are the Emerging Geographies for The Palliative Services Market Growth?
North America was the largest region in the palliative services market in 2024. The regions covered in the palliative services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Palliative Services Market?
2. What is the CAGR expected in the Palliative Services Market?
3. What Are the Key Innovations Transforming the Palliative Services Industry?
4. Which Region Is Leading the Palliative Services Market?
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