Palliative Care Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2019 - 2029
Palliative Care Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2019 - 2029
Report Digest
Global Palliative Care Market: Overview
Palliative care refers to an approach that helps in the bettering the quality of life of people suffering from various deadly diseases, such as cancer, Alzheimer’s disease, and others. This factor is estimated to propel growth of the global palliative care market. It also helps the family members of the patients by reducing the burden of disease upon them. In this method, accurate assessment and treatment of problems related to spiritual, psychosocial, physical, and pain of patients are done.
Expansion of the pool of elderly population together with the subsequent rise in the incidences of age-associated and chronic diseases is expected to bolster growth of the global palliative care market. High prevalence of various chronic diseases, such as dementia, cancer, kidney, cardiovascular, respiratory-related diseases amongst elderly people is expected to shoot up the demand for palliative care over the period of assessment.
Service type, end user, and region are the three important parameters based on which the global palliative care market has been categorized.
Global Palliative Care Market: Notable Developments
One of the developments that offer a glimpse of the market dynamics about the global palliative care market is mentioned below:
- In September 2018, US-based prominent provider of end-of-life care, VITAS Healthcare acquired Hospice of Citrus and the Nature Coast (HOCNC). This strategic move is expected to expand the services of VITAS Healthcare in the previously untapped areas of the country.
Some of the prominent organizations in the global palliative care market include the below-mentioned:
- National Hospice and Palliative Care Organization
- New Hampshire Hospice and Palliative Care Organization
- Kenya Hospices and Palliative Care Association (KEHPCA)
- UCLA Health
- Seymour Health Centre
- VITAS Healthcare
Global Palliative Care Market: Key Trends
The global palliative care market is characterized by the presence of the following restraints, drivers, and opportunities.
Growing Awareness about Palliative Care to Drive Demand in the Market
Palliative care refers to a certain type of hospice care procedure that is utilized in making the final years, months, or days of terminally ill patients less painful and better. Palliative care is given to patients who are suffering from various illnesses such as chronic pulmonary obstructive disease (COPD), CNS disorders, congestive heart failure (CHF), cancer, and other such diseases. This type of care offers symptomatic relief from loss of appetite, pain and anxiety, diarrhea, nausea, and vomiting. Ability to provide relief from such a wide variety of symptoms is estimated to support expansion of the global palliative care market in the years to come.
International Association for Hospice and Palliative Care (IAHPC) has authorized and listed around 32 essential medicines for palliative care. These medicines comprise antiemetic, analgesics, and others. Medical caretakers, doctors, medical specialists and other such people offer palliative care from the healthcare sector. These professionals with the patients’ doctor to provide extra help to the patient and his or her family.
Global Palliative Care Market: Geographical Analysis
In the global palliative care market, Asia Pacific is estimated to offer ample scope of growth for the market over the tenure of assessment. Increased awareness amongst the people about palliative care in region is likely to play the role of a catalyst in the growth of the regional market. Furthermore, rise in the disposable income of the people in the region is estimated to offer lucrative growth opportunities for the palliative care market in Asia Pacific.
The global palliative care market is segmented as:
Service Type
- Private residence care
- Hospice inpatient care
- Hospital inpatient care
- Nursing home and residential facility care
End User
- Hospitals
- Home Care Settings
- Palliative Care Centers
- Long Term Care Centers and Rehabilitation Centers
This study provides a particularized anatomy according to the L.E.A.P mechanism
- Latest trends and cardinal growth prospects
- Existing and future insights in growth
- Ascensions in technology
- Pain points
The regional analysis offers market assays across:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
Pain Points
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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