Press release
Palliative Care: Core Growth Enabler in the Rising Alzheimer's Cases Fueling The Growth Of The Market Due To Increasing Aging Population And Demand For Symptom Management Market, 2025
Palliative Care Market
What Will the Palliative Care Industry Market Size Be by 2025?
The market size for palliative care has witnessed robust growth in the past few years. The value of the market is projected to increase from $11.32 billion in 2024 to $12.29 billion in 2025, marking a compound annual growth rate (CAGR) of 8.5%. The past growth can be credited to factors such as the mounting occurrence of chronic and terminal illnesses, heightened awareness of the advantages of palliative care, rising demand for palliative care at home, expansion in palliative care training initiatives, and the increased acknowledgement of palliative care in state healthcare policies.
What's the Long-Term Growth Forecast for the Palliative Care Market Size Through 2029?
Strong expansion is anticipated for the palliative care market over the coming years, projected to reach $16.83 billion by 2029 with a compounded annual growth rate (CAGR) of 8.2%. Factors contributing to future growth include the escalating prevalence of multimorbidity in older patients, a surge in the requirement for individualized patient-focused healthcare, increased embrace of community-centered palliative care models, rising hospital expenses and pressures on the healthcare system, as well as heightened awareness around psychological and emotional health. Key trends that will define this growth period encompass progress in digital health arenas, technological progress in home care systems, breakthroughs in techniques for pain and symptom control, innovative wearable and tracking devices, and advanced interdisciplinary care planning platforms.
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What Are the Key Growth Drivers Fueling the Palliative Care Market Expansion?
The escalating incidence of Alzheimer's disease is predicted to drive the expansion of the palliative care market. Alzheimer's disease, an advancing neurological disorder, results in memory loss, cognitive deterioration, and alterations in behavior. The disease's occurrence is escalating due to the global population's aging, making it more common as individuals' life spans increase because the risk heightens substantially with growing age. Palliative care aids Alzheimer's treatment by prioritizing the enhancement of life quality, management of distressful symptoms, support of caregivers, and delivering wholesome, empathetic care throughout the disease's progression. For example, in April 2025, the Alzheimer's Association, a voluntary health organization based in the US, reported that over 7 million Americans aged 65 and above were diagnosed with Alzheimer's in 2022, and this figure is poised to increase to 7.2 million by 2025. Consequently, the climbing prevalence of Alzheimer's disease is bolstering the palliative care market's growth.
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What Are the Key Trends Driving Palliative Care Market Growth?
Leading corporations in the palliative care market are concentrating on introducing innovative technologies such as home-based palliative care support services, to minimize the discomfort related to hospital appointments and stays. These services offer comfort-centered medical and emotional care to seriously ill individuals within the familiarity of their own home. For example, Stream I Inc., a healthcare technology company from Japan, took the initiative in November 2023 to introduce Home Care Base, a support service for home-based palliative care. This service gives access to virtual expert counseling and remedies for intricate medical problems, boosting care cooperation among medical practitioners, nurses, and pharmacists. It intends to cater to the increasing demand for in-home medical services in Japan resulting from an aging population. Moreover, it allows for the efficient utilization of scarce medical resources and enhances the accessibility of top-tier palliative care.
How Is the Palliative Care Market Segmented?
The palliative care market covered in this report is segmented
1) By Service Type: Hospice Care, Hospital Inpatient Care, Nursing Homes, Home Care, Other Service Types
2) By Age Group: Pediatric, Adult, Geriatric
3) By Application: Cardiac Disease, Congestive Heart Failure, Cancer, Chronic Obstructive Pulmonary Disease (COPD), Kidney Failure, Alzheimer's Disease, Parkinson's Disease, Amyotrophic Lateral Sclerosis (ALS)
4) By End User: Hospitals, Home Care Settings, Palliative Care Centres, Long-Term Care Centres And Rehabilitation Centres
Subsegments:
1) By Hospice Care: Inpatient Hospice Care, Outpatient Hospice Care, Community-Based Hospice Care, Home-Based Hospice Care
2) By Hospital Inpatient Care: Acute Palliative Care Units, Specialized Palliative Wards, Consultation-Based Palliative Services, Post-Surgical Palliative Care
3) By Nursing Homes: Skilled Nursing Facilities, Assisted Living Facilities, Long-Term Care Facilities, Memory Care Units
4) By Home Care: Physician-Led Home Visits, Nurse-Led Palliative Care, Home-Based Symptom Management, Family Caregiver Support Services
5) By Other Service Types: Outpatient Palliative Clinics, Telehealth Palliative Services, Community Health Programs, Mobile Palliative Care Units
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Which Companies Are Leading the Charge in Palliative Care Market Innovation?
Major companies operating in the palliative care market are Carelon, Vancouver Coastal Health, Chemed Corporation, VNS Health, Empath Health, HammondCare, Hospice of the Western Reserve, Hospice of the Valley, Princess Alice Hospice, Royal Trinity Hospice, Anam Cara House Colac, Karuna Hospice Service Ltd., Teresa Dellar Palliative Care Residence, Banksia Palliative Care Service Inc., Hosparus Health, Kenya Hospices and Palliative Care Association, Amitayus, Cittamani Hospice, Pallium India Inc., and Drakenstein Palliative Hospice.
Which Regions Are Leading the Global Palliative Care Market in Revenue?
North America was the largest region in the palliative care market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the palliative care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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