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2021

Palliative Care Market

Palliative Care Market Size, Share, Competitive Landscape and Trend Analysis Report by Condition (Cardiovascular Diseases, Cancer, Chronic Respiratory Diseases, and Others), Age Group (Adult and Pediatric), and Provider (Hospitals & Clinics, Nursing Homes, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

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Author's: Sushant Terdale | Roshan Deshmukh
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Palliative Care Market Overview:

The global palliative care market size was valued at $11,200 million in 2020, and is projected to reach $25,309 million by 2030, registering a CAGR of 8.4% from 2021 to 2030. Palliative care is an approach that increases the quality of life of patients and their families who are facing issues associated with life-threatening diseases. Palliative care services prevent & relieve suffering through early identification, correct assessment & treatment of pain, and other conditions such as physical, psychosocial or spiritual. Moreover, palliative care utilizes a team approach to support patients & their caregivers. This comprises addressing practical requirements and providing support system to aid patients live as actively as likely until death. Palliative care is essential for a wide range of chronic diseases such as cardiovascular diseases, cancer, chronic respiratory diseases, diabetes, kidney failure, chronic liver disease, and others.

Rise in geriatric population, increase in need of palliative care services in hospitals & clinics, surge in number of qualified physicians for palliative care, rise in public awareness of life-threatening diseases, adoption of sedentary lifestyle, increase in application of palliative care for homecare, and technological advancements for remote monitoring in the healthcare industry are the major factors that drive the growth of the palliative care market. In addition, rise in government funding in healthcare system, development of innovative therapies for chronic diseases, and favorable reimbursement from Medicaid and Medicare are other factors that further drive growth of the market. However, lack of access to palliative care services in underdeveloped countries is expected to hamper the market growth during the forecast period. Conversely, high palliative care market growth potential in emerging markets is expected to offer lucrative opportunities during the forecast period.

Palliative-Care-Market-2021-2030

The World Health Organization (WHO) on January 30, 2020 declared COVID-19 outbreak a public health emergency of international concern. COVID-19 has affected around 210 countries across the globe. The workload for palliative care teams surged during the pandemic as most teams are small in number and different palliative care providers have complementary roles. The use of telemedicine in palliative care showed progresses in symptom management, care with comfort, and patient & family satisfaction. Moreover, telemedicine also simplified cooperation between the specialized palliative care team nurse and community nurses, which is useful parameter in COVID-19 pandemic. Thus, COVID-19 resulted in positive impact on the palliative care market.

Palliative Care Market Segmentation  

The palliative care market is segmented into condition, age group, provider, and region. On the basis of condition, the market is categorized into cardiovascular diseases, cancer, chronic respiratory diseases, and others. By age group, the market is bifurcated into adult and pediatric. The adult segment is further segmented into hospitals & clinics, nursing homes, and others. The pediatric segment is further segmented into hospitals & clinics, nursing homes, and others. On the basis of provider, the market is divided into hospitals & clinics, nursing homes, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Segment review 

On the basis of condition, the cancer segment is the major revenue contributor, and is projected to grow significantly during the forecast period. Rise in geriatric population, surge in prevalence of cancer, early screening of the cancer, and rise in number of palliative care specialist for cancer treatment have significantly contributed toward the growth of the palliative care market. Moreover, technological advancements in remote monitoring in the healthcare industry and high potential of emerging economies are further expected to provide lucrative opportunities for market expansion. 

Palliative Care Market
By Condition
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Cancer segment is projected as one of the most lucrative segment.

By age group, the adult segment is the major shareholder in the palliative care market, owing to surge in need of palliative care in adult patients and adoption of sedentary lifestyle leading to increase in incidence of life-threatening diseases. Moreover, higher number of adult patients suffering from chronic diseases drives the growth of the adult segment. 

Palliative Care Market
By Provider
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Hospitals and Clinics segment held a dominant position in 2020 and will continue to maintain the lead over the forecast period.

Snapshot of Asia-Pacific palliative care market  

Asia-Pacific presents lucrative opportunities for key players operating in the palliative care market, owing to increase in number of initiatives and enhanced investments from governments for overall awareness on palliative care services and rise in demand for palliative care services. In addition, availability of advanced healthcare systems, rise in adoption of integrated palliative care in chronic life-threatening diseases treatment, surge in investments in equipping hospitals and palliative care centers with specialized palliative care teams, and significant surge in demand for advanced healthcare facilities contribute toward the growth of the market. Moreover, surge in focus of leading palliative care service providers on expanding their geographical presence in emerging Asia-Pacific countries to capture high market share is expected to drive the growth of the palliative care market in the region.  

Palliative Care Market
By Region
2030
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific would exhibit the highest CAGR of 10.5% during 2021-2030.

The key players profiled in this report include Amedisys, Inc., Chemed Corporation (Vitas Healthcare), Fillmore Capital Partners, LLC (Golden Living Centers/GGNSC Holdings LLC), Genesis HealthCare (Skilled Healthcare Group Inc.), Home Instead, Inc., Kindred Healthcare, LLC (Gentiva Health Services Inc.), Public Sector Pension Investment Board (Sunrise Senior Living Centers), Senior Care Centers of America, Inc, Seymour Health, and UCLA Health.

Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the palliative care market along with the current trends and future estimations to elucidate the imminent investment pockets.
  • It offers palliative care market analysis from 2020 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
  • A comprehensive analysis of four regions is provided to determine the prevailing opportunities.
  • The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global palliative care market growth. 

Key Market Segments

By Condition

  • Cardiovascular Diseases
  • Cancer
  • Chronic Respiratory Diseases
  • Others

By Age Group

  • Adult 
    • Hospitals & Clinics
    • Nursing Homes
    • Others 
  • Pediatric
    • Hospitals & Clinics
    • Nursing Homes
    • Others

By Provider

  • Hospitals & Clinics
  • Nursing Homes
  • Others 

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China 
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA

Palliative Care Market Report Highlights

Aspects Details
Palliative Care Market By CONDITION
By CONDITION
  • Cardiovascular diseases
  • Cancer
  • Chronic respiratory diseases
  • Others
Palliative Care Market By AGE GROUP
By AGE GROUP
  • Adults
  • Pediatric
Palliative Care Market By PROVIDER
By PROVIDER
  • Hospitals & clinics
  • Nursing homes
  • Others
Palliative Care Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Market Players
Key Market Players

Kindred Healthcare, LLC (Gentiva Health Services Inc.), Home Instead, Inc., Amedisys, Inc., Chemed Corporation (Vitas Healthcare), University of California (UCLA Health), .Fillmore Capital Partners, LLC (Golden Living Centers/GGNSC Holdings LLC), Public Sector Pension Investment Board (Sunrise Senior Living Centers), Seymour Health, SENIOR CARE CENTERS OF AMERICA, INC, Genesis HealthCare (Skilled Healthcare Group Inc.

Analyst Review

Palliative care serves as a health care specialty that includes a philosophy of care and a structured system for providing care to the patients with severe or enervating diseases from diagnosis till death.

Increase in chronic life-threatening diseases, including cardiovascular diseases, cancer, neurological diseases, diabetes, and other chronic diseases worldwide notably contributes toward the market growth. In addition, adoption of smoking, higher exposure to toxic materials, and adverse climate conditions & air pollution causing cancer will help the market gain traction during the forecast period. Moreover, surge in number of hospitals & clinics with advanced palliative care services and rise in demand for palliative care specialist further boost the growth of the market. However, lack of access to palliative care services in underdeveloped countries is expected to hamper the market growth during the forecast period.  

Author Name(s) : Sushant Terdale | Roshan Deshmukh
Frequently Asked Questions?

The total market value of Palliative Care market is $11,200.0 million in 2020.

The forcast period for Palliative Care market is 2021 to 2030

The market value of Palliative Care market in 2021 is $12,196.8 million.

The base year is 2020 in Palliative Care market

Top companies such as Genesis HealthCare (Skilled Healthcare Group Inc.), Amedisys, Inc., Chemed Corporation (Vitas Healthcare), Home Instead, Inc., Kindred Healthcare, LLC (Gentiva Health Services Inc.), Seymour Health, and Senior Care Centers of America, Inc. held a high market position in 2020. These key players held a high market postion owing to the strong geographical foothold in different regions.

Cancer segment is the most influencing segment owing to rise in geriatric population, surge in prevalence of cancer, early screening of the cancer, and rise in number of palliative care specialist for cancer treatment have significantly contributed toward the growth of the market. Moreover, technological advancements in remote monitoring in the healthcare industry and high potential of emerging economies are further expected to provide lucrative opportunities for market expansion.

Rise in geriatric population, increase in need of palliative care services in hospitals & clinics, surge in number of qualified physicians for palliative care, rise in public awareness of life-threatening diseases, adoption of sedentary lifestyle, increase in application of palliative care for homecare, and technological advancements for remote monitoring in the healthcare industry are the major factors that drive the growth of the market.

Asia-Pacific has the highest growth rate in the market which is growing due to increase in number of initiatives and enhanced investments from governments for overall awareness on palliative care services and rise in demand for palliative care services. In addition, availability of advanced healthcare systems, rise in adoption of integrated palliative care in chronic life-threatening diseases treatment, surge in investments in equipping hospitals and palliative care centers with specialized palliative care teams, and significant surge in demand for advanced healthcare facilities contribute toward the growth of the market.

Palliative care is an approach that increases the quality of life of patients and their families who are facing issues associated with life-threatening diseases

Palliative care serves as a health care specialty that includes a philosophy of care and a structured system for providing care to the patients with severe or enervating diseases from diagnosis till death

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Palliative Care Market

Global Opportunity Analysis and Industry Forecast, 2021-2030