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Global Palliative Care Market $265 Billion by 2031

The global market for palliative care projected to reach $265 billion by 2031, growing at a CAGR of 9.8% over the forecast period, driven by increasing prevalence of chronic diseases, growing elderly population, and rising awareness concerning physical, social, and psychological needs of patients.

  • Other factors contributing to market growth include increasing prevalence of life-threatening diseases, government initiatives in providing supportive care services and favorable policies, and rising number of healthcare providers worldwide.
    • In addition, the COVID-19 pandemic significantly impacted the palliative care market growth as hospitals and healthcare systems faced challenges, including resource shortages, high demand, and a focus on critical care services.
Global Palliative Care Market

According to the World Health Organization (WHO), the palliative care ss a form of specialized medical care that aims to optimize the quality of life and alleviate the suffering of patients with serious illnesses. It is primarily achieved through early identification and treatment of new symptoms, along with managing those that prove refractory.

  • Palliation consists of comprehensive care provided to patients with life-limiting illnesses and should not be considered an alternative to failed life-prolonging care.
    • In addition to treatment meant to cure the serious illness, patients in palliative care may also receive medical assistance for their symptoms. By concentrating on the patient’s and their family’s quality of life, palliative care is intended to supplement existing medical treatment.
      • Early utilization of palliative care has been correlated with improved survival in patients with metastatic cancer, reduced cost of care, and improved quality of life.

The global market for palliative care research report provides market size ($million 2021 to 2031), market share analysis, growth trends and forecast (CAGR%, 2024 to 2031).  

The global market for palliative care segmented by condition (cancer, dementia, HIV, cerebrovascular disease, respiratory disease, others), diagnostic group (communicable diseases, non-communicable diseases, injury, poisoning, external causes, maternal, perinatal and nutritional conditions), age group (pediatric, adult, geriatric), provider (hospitals and clinics, home-based, community settings), and geography.

  • Based on the patient conditions, the cancer palliative care segment accounted for the largest share of the total palliative care market, attributed to increasing prevalence of various types of cancer and focus on palliative care services in improving the quality of life.
    • Palliative oncology constitutes a major part of oncological care, with life prolongation and quality of life as its main goals. Patients and families affected by a cancer have significant palliative care needs beginning at the time of diagnosis and extending through end-of-life care and bereavement. The key skills in providing effective palliative care include providing the diagnosis with compassion, setting goals of care, anticipating safety concerns, caregiver assessment, advance care planning, addressing psychosocial concerns, and timely referral to a hospice.
      • Moreover, novel treatment opportunities with targeted therapies and other immunotherapies show promising results but must be balanced against a new type of adverse effects.
  • However, the respiratory diseases segment anticipated to witness the fastest growth rate during the forecast period, as palliative care appears to have a beneficial effect on breathlessness, one of the most distressing symptoms in patients suffering from chronic respiratory diseases and allows for advanced care planning.
    • The increasing prevalence of respiratory diseases, such as asthma and chronic obstructive pulmonary disease also led to growing demand for coordinated respiratory and palliative care services. Patients living with chronic respiratory diseases, as well as their families, face considerable physical, emotional and social challenges.
      • Palliative care might be a valuable approach to address their complex needs, but evidence to prove this is still scarce.
  • Palliative care can be administered in multiple settings and by various healthcare providers. Primary care providers, hospitalists, and emergency medicine physicians often provide the first interventions for palliative concerns.
    • Palliative care is often delivered by an interdisciplinary team, with each member working within their specific specialty and area of focus. For example, palliative care teams often include chaplains and social workers help address patients’ spiritual and emotional needs. It is common for palliative care teams to employ physicians, physician assistants, nurse practitioners, nurses, social workers, and chaplains.
      • Healthcare professional (HCPs) express high level of willingness to provide palliative care and report high confidence in key symptom management and clinical skills.
  • Many individuals receiving post-acute and long-term care services in nursing homes have unmet palliative and end-of-life care needs. Frequently, patients may choose to receive palliative care in the home.
    • Continuity of care is important at improving the patient experience and reducing unnecessary hospitalizations when transitioning across care settings, especially at the end of life. Palliative patients are likely to experience many transitions in care settings because of their serious conditions, a common one being from hospital-to-home.
      • Transitions of palliative care, the coordinated movement of patients between different healthcare settings, healthcare providers, or intensity of care, are critical junctures in patients’ care trajectories.

The global market for palliative care research report is further segmented by geography into North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Rest of EU), Asia Pacific (Japan, China, India, Rest of APAC), Latin America (Brazil, Mexico, Rest of LA), and Rest of the World.

  • Geographically, supportive government initiatives, such as funding, setting up policies, and promoting awareness, are expected to drive the palliative care market growth in the coming years. Many countries provide special funding to programs to enhance the quality and accessibility of the services.

In addition, the global market for palliative care report provides the detailed market landscape (market drivers, restraints, opportunities), market attractiveness analysis, and market profitability analysis by key products and regions or countries. The report also tracks the major competitors operating in the global market by company overview, financial snapshot, major products, technologies, services offered and recent developments.

Major competitors operating in the global market for palliative care and profiled in this report include Adventist Health, Alpha Palliative Care, Amedisys, Inc., Banksia Palliative Care Service, Inc., Baptist Health, Drakenstein Palliative Hospice (Paarl), Fonthill Care, Genesis HealthCare System, HammondCare, Kindred Healthcare, Inc. (Gentiva Health Services), Teresa Dellar Palliative Care Residence, and VITAS Healthcare.

  • Condition
    • Cancer
    • Dementia
    • HIV
    • Cerebrovascular Diseases
    • Respiratory Diseases
    • Others
  • Diagnostic Group
    • Communicable Diseases
    • Non-Communicable Diseases
    • Injury, Poisoning, External Causes
    • Maternal, Perinatal and Nutritional Conditions
  • Age Group
    • Pediatric
    • Adult
    • Geriatric
  • Provider
    • Hospitals and Clinics
    • Home-based
    • Community Settings
  • Geography
    • North America (U.S., Canada)
    • Europe (U.K., Germany, France, Italy, Spain, Rest of EU)
    • Asia Pacific (Japan, China, India, Rest of APAC)
    • Latin America (Brazil, Mexico, Rest of LA)
    • Rest of the World
  • Company Profiles
    • Adventist Health
    • Alpha Palliative Care
    • Amedisys, Inc.
    • Banksia Palliative Care Service, Inc.
    • Baptist Health
    • Drakenstein Palliative Hospice (Paarl)
    • Fonthill Care
    • Genesis HealthCare System
    • HammondCare
    • Kindred Healthcare, Inc. (Gentiva Health Services)
    • Teresa Dellar Palliative Care Residence
    • VITAS Healthcare

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