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The worldwide hospice industry is anticipated to grow from a value of USD 103.33 billion in 2024 to USD 189.99 billion in 2031, with a projected revenue CAGR of 9%. Market revenue is expected to expand due to a number of variables, including the rising number of chronic diseases, an aging population, and an increased need for hospice care services.
Patients in their final stages of life often get hospice care, which consists of affordable, compassionate, and humane treatment. The medical treatment process for incurable diseases such as cancer, lung disease, congestive heart failure, and dementia has been finished by these impacted persons. Factors such as the rising number of organizations offering hospice services, the increasing adoption of hospice care, and the prevalence of life-threatening diseases like cancer, heart failure, and end-stage renal disease are all expected to contribute to the growth of the hospice market in the coming years. Market expansion may also be possible as a result of increased funding for hospices from both public and private sources.
A large proportion of the global population is getting older. Cancer, cardiovascular disease, and dementia are just a few examples of the chronic and life-limiting illnesses that are more common as people get older. With an increase in the need for palliative and end-of-life care, this demographic shift is propelling the hospice industry forward. The value of hospice and palliative care has been more acknowledged and accepted in recent years. Hospice care is gaining popularity as more people learn about its positive effects on patients and their families through measures such as pain relief, emotional support, and comfort measures. Hospice care is in high demand around the world as a result of this heightened awareness.
Hospice care and other forms of end-of-life care have been the focus of policy and program development in numerous nations. Hospice care reimbursement systems, legal frameworks, and financial assistance are all potential components of these endeavors. The expansion of the hospice industry is spurred on by the government's support, which creates an advantageous setting for service providers. Hospice care has been greatly enhanced by technological advancements in medicine. Better symptom management, remote consultations, and increased coordination among healthcare providers are just a few ways in which innovative medical technology, digital health solutions, telemedicine, and electronic health records have improved the delivery of hospice services. The hospice market has grown in both size and scope thanks to these technical developments.
Even while hospice care is becoming more well-known, many people and medical professionals still have misconceptions and lack enough knowledge about it. Underutilization of hospice services and postponement of referrals can result from this ignorance. Misconceptions about hospice care must be dispelled through public awareness and education initiatives. Different countries and regions have different ways that hospice care is reimbursed. Comprehensive hospice care can be expensive, and reimbursement rates might not always cover it. Hospice providers may have financial difficulties as a result, which restricts their capacity to invest in quality improvement programs or increase their service offerings. The expansion of the hospice industry cannot be achieved without the promotion of just and long-term payment structures.
One reason the demand for hospice care services is on the rise is the option for in-home hospice care. One advantage of home-based hospice care is that patients can receive treatment in the comfort of their own home. This can improve their quality of life and reduce medical costs. Market expansion is also being propelled by global hospice care promotion initiatives spearheaded by governments. More and more, governments are seeing hospice care as a viable option for improving the quality of end-of-life care for their citizens. The need for hospice care services has increased across the country, for example, because the Medicare hospice benefit pays for hospice care for eligible beneficiaries.
Using qualitative and quantitative data, the research paints a comprehensive picture of the market. Based on numerous divisions, it offers an analysis and prediction of the worldwide hospice market. The report also breaks down the market by region, including forecasts for each of the five most important areas from 2020 to 2028: North America, Europe, Asia-Pacific (APAC), MEA, and South and Central America. Subsegmentation of the hospice market is then performed by countries and segments within each region. Along with the present trend and potential in the region, the paper analyzes and predicts outcomes for eighteen countries worldwide. In addition to examining the demand and supply sides of the hospice market, the study also assesses the market dynamics (drivers, constraints, opportunities, and future trend) that will impact the market over the projected period. After analyzing the political, economic, social, and technological aspects impacting the Hospice market in each of the five regions—North America, Europe, Asia-Pacific, Middle East and Africa, and South and Central America—the research offers a comprehensive PEST analysis for each region.
Report Coverage
Global Hospice research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Hospice report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Hospice competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Hospice market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Hospice market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Hospice market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Covenant Care. (US), National Association for Home Care & Hospice. (US), Kindred Healthcare, LLC (US), PruittHealth (US), Dierksen Hospice (US), Samaritan Health Services. (US), National Hospice and Palliative Care Organization (US), Oklahoma Palliative & Hospice Care. (US), Alzheimer's Association (US), VITAS Healthcare (US), LHC Group, Inc. (US), Amedisys. (US), Brookdale Senior Living Inc. (US), EXTENDICARE. (Canada), Golden LivingCenters (US), HCR ManorCare USA, Inc. (US), The Ensign Group, Inc. (US), and Living Assistance Services, Inc, (Canada) among other
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Hospice market based on the below-mentioned segments:
Global Hospice Market, By Services
Nursing Services
Medical Supply Services
Counseling Services
Short Term Inpatient Services
Physician Services
Others
Global Hospice market, By Application
Home Settings
Hospitals
Specialty Nursing Homes
Hospice Care Centres
Global Hospice Market, By Care Type
Acute Care
Respite Care
Global Hospice market, Regional Analysis
Patients in their final stages of life often get hospice care, which consists of affordable, compassionate, and humane treatment. The medical treatment process for incurable diseases such as cancer, lung disease, congestive heart failure, and dementia has been finished by these impacted persons. Factors such as the rising number of organizations offering hospice services, the increasing adoption of hospice care, and the prevalence of life-threatening diseases like cancer, heart failure, and end-stage renal disease are all expected to contribute to the growth of the hospice market in the coming years. Market expansion may also be possible as a result of increased funding for hospices from both public and private sources.
A large proportion of the global population is getting older. Cancer, cardiovascular disease, and dementia are just a few examples of the chronic and life-limiting illnesses that are more common as people get older. With an increase in the need for palliative and end-of-life care, this demographic shift is propelling the hospice industry forward. The value of hospice and palliative care has been more acknowledged and accepted in recent years. Hospice care is gaining popularity as more people learn about its positive effects on patients and their families through measures such as pain relief, emotional support, and comfort measures. Hospice care is in high demand around the world as a result of this heightened awareness.
Hospice care and other forms of end-of-life care have been the focus of policy and program development in numerous nations. Hospice care reimbursement systems, legal frameworks, and financial assistance are all potential components of these endeavors. The expansion of the hospice industry is spurred on by the government's support, which creates an advantageous setting for service providers. Hospice care has been greatly enhanced by technological advancements in medicine. Better symptom management, remote consultations, and increased coordination among healthcare providers are just a few ways in which innovative medical technology, digital health solutions, telemedicine, and electronic health records have improved the delivery of hospice services. The hospice market has grown in both size and scope thanks to these technical developments.
Even while hospice care is becoming more well-known, many people and medical professionals still have misconceptions and lack enough knowledge about it. Underutilization of hospice services and postponement of referrals can result from this ignorance. Misconceptions about hospice care must be dispelled through public awareness and education initiatives. Different countries and regions have different ways that hospice care is reimbursed. Comprehensive hospice care can be expensive, and reimbursement rates might not always cover it. Hospice providers may have financial difficulties as a result, which restricts their capacity to invest in quality improvement programs or increase their service offerings. The expansion of the hospice industry cannot be achieved without the promotion of just and long-term payment structures.
One reason the demand for hospice care services is on the rise is the option for in-home hospice care. One advantage of home-based hospice care is that patients can receive treatment in the comfort of their own home. This can improve their quality of life and reduce medical costs. Market expansion is also being propelled by global hospice care promotion initiatives spearheaded by governments. More and more, governments are seeing hospice care as a viable option for improving the quality of end-of-life care for their citizens. The need for hospice care services has increased across the country, for example, because the Medicare hospice benefit pays for hospice care for eligible beneficiaries.
Using qualitative and quantitative data, the research paints a comprehensive picture of the market. Based on numerous divisions, it offers an analysis and prediction of the worldwide hospice market. The report also breaks down the market by region, including forecasts for each of the five most important areas from 2020 to 2028: North America, Europe, Asia-Pacific (APAC), MEA, and South and Central America. Subsegmentation of the hospice market is then performed by countries and segments within each region. Along with the present trend and potential in the region, the paper analyzes and predicts outcomes for eighteen countries worldwide. In addition to examining the demand and supply sides of the hospice market, the study also assesses the market dynamics (drivers, constraints, opportunities, and future trend) that will impact the market over the projected period. After analyzing the political, economic, social, and technological aspects impacting the Hospice market in each of the five regions—North America, Europe, Asia-Pacific, Middle East and Africa, and South and Central America—the research offers a comprehensive PEST analysis for each region.
Report Coverage
Global Hospice research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Hospice report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Hospice competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Hospice market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2024 |
| Forecast Period | 2024-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Covenant Care. (US), National Association for Home Care & Hospice. (US), Kindred Healthcare, LLC (US), PruittHealth (US), Dierksen Hospice (US), Samaritan Health Services. (US), National Hospice and Palliative Care Organization (US), Oklahoma Palliative & Hospice Care. (US), Alzheimer's Association (US), VITAS Healthcare (US), LHC Group, Inc. (US), Amedisys. (US), Brookdale Senior Living Inc. (US), EXTENDICARE. (Canada), Golden LivingCenters (US), HCR ManorCare USA, Inc. (US), The Ensign Group, Inc. (US), and Living Assistance Services, Inc, (Canada) among other |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Hospice Market from 2021 to 2031.
- Market Forecast for Hospice Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Hospice competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Hospice
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Hospice market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Hospice market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Covenant Care. (US), National Association for Home Care & Hospice. (US), Kindred Healthcare, LLC (US), PruittHealth (US), Dierksen Hospice (US), Samaritan Health Services. (US), National Hospice and Palliative Care Organization (US), Oklahoma Palliative & Hospice Care. (US), Alzheimer's Association (US), VITAS Healthcare (US), LHC Group, Inc. (US), Amedisys. (US), Brookdale Senior Living Inc. (US), EXTENDICARE. (Canada), Golden LivingCenters (US), HCR ManorCare USA, Inc. (US), The Ensign Group, Inc. (US), and Living Assistance Services, Inc, (Canada) among other
Primary Target Market
- Market Players of Hospice
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Hospice market based on the below-mentioned segments:
Global Hospice Market, By Services
Nursing Services
Medical Supply Services
Counseling Services
Short Term Inpatient Services
Physician Services
Others
Global Hospice market, By Application
Home Settings
Hospitals
Specialty Nursing Homes
Hospice Care Centres
Global Hospice Market, By Care Type
Acute Care
Respite Care
Global Hospice market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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