Reports And Data

Market Size – USD 3.53 Billion in 2020, Market Growth - CAGR of 7.80%, Market Trends – Advancements in cancer palliative care

NEW YORK, NY, UNITED STATES, April 14, 2022 /EINPresswire.com/ -- The global palliative care market size is expected to reach USD 6.43 Billion in 2028 and register a CAGR of 7.8% during the forecast period, according to the latest report by Reports and Data. Rising demand for cancer palliative care, availability of advanced palliative care models, and increasing focus on improving quality of life of patients with debilitating and life-threatening illnesses are key factors expected to drive market revenue growth over the forecast period. In addition, implementation of favorable reimbursement policies in various developed countries, and establishment of professional palliative care organizations to improve accessibility to robust care services to all across the globe are some other key factors expected to boost revenue growth of the market.

Palliative care is an interdisciplinary specialty that focuses on improving quality of life of patients and elderly with serious illnesses. Palliative care aims to treat pain, alleviate symptoms, provide psychological support to patients and their families, and delivers patient-centric care to help patients better manage their illness. Over the recent years, palliative care has undergone substantial development and change with respect to introduction of new-care delivery models, innovative payment systems, increasing awareness among public and professionals, and implementation of robust palliative care services. Palliative care maximizes quality of life of patients by effective symptom control, spiritual and social support, and by utilizing a multi-disciplinary approach. Palliative care is offered in almost all healthcare settings including community services, nursing homes, palliative care centers, private hospitals, and pediatric services.

Advantages of palliative care such as better control over distressing symptoms such as pain, depression, and spiritual distress, higher level of satisfaction among patients and their families, reduction in number of hospital stays and admissions, and sharp decline in frequency of emergency room consultations is leading to rising demand for palliative care services and is expected to further boost revenue growth of the market going ahead. However, lack of supportive policies in underdeveloped and developing countries, poor accessibility to essential palliative care drugs, and lack of training to healthcare professionals are some key factors that can restrain revenue growth of the market to some extent over the forecast period.

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Some Key Highlights from the Report:  

Private resident care segment is expected to account for largest revenue share over the forecast period attributable to rising preference for home-based palliative care due to various advantages such as reduced financial burden on health care systems and patients’ families, maximum convenience, reduced need for re-hospitalization, and enhanced patient satisfaction.

Cancer segment is expected to register significantly fast revenue growth rate during the forecast period attributable to growing advancements in cancer palliative care, increasing need for palliative and end-of-life care for cancer patients to better manage symptoms and pain, and rising need for physical and emotional support to caregivers and families of cancer patients.

Palliative care centers segment is expected to register a robust revenue CAGR between 2021 and 2028 owing to increasing development of state-of-the-art palliative care centers that ensure high-quality and excellent care to patients with unmanageable symptoms and advanced illnesses and availability of expert staff and professionals.

North America is expected to account for largest revenue share in the global market over the forecast period owing to availability of palliative care supportive policies in the United States, growing integration of palliative care in health care management programs, availability of specialized training programs, and presence of key providers in countries in the region.

Major companies profiled in the global market report include Skilled Healthcare Group Incorporated, Vitas Healthcare Corporation, Kindred Healthcare Incorporated, Sunrise Senior Living LLC, Home Instead Senior Care Incorporated, Gentiva Health Services Incorporated, Genesis HealthCare Corporation, Amedisys Incorporated, GGNSC Holdings LLC and Senior Care Centers of America.

In October 2021, Cipla Palliative Care, Pallium India, CanSupport and eight other palliative care organizations formed a consortium to launch “Saath-Saath” helpline to facilitate connection between patients, caregivers, and healthcare professionals with palliative care facilities near them when required.

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Palliative Care Market Segmentation:

Care Type Outlook (Revenue, USD Billion; 2018-2028)

Hospital Inpatient Care
Private Resident Care
Hospice Resident Care
Nursery and Residential Facility Care
Others

Application Outlook (Revenue, USD Billion; 2018-2028)

Cancer
Chronic obstructive pulmonary disease (COPD)
Cardiac diseases
Alzheimer’s disease
Parkinson’s disease
Kidney failure
Amyotrophic Lateral Sclerosis (ALS)
Others

End-Use Outlook (Revenue, USD Billion; 2018-2028)

Hospital
Palliative care centers
Home care settings
Long-term care centers & Rehabilitation Centers

Global Palliative Care Market Report: Regional Segmentation

North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
A.E.
South Africa
Rest of MEA

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Global Palliative Care Market: Table of Contents

Chapter 1. Methodology & Sources

1.1. Market Definition

1.2. Research Scope

1.3. Methodology

1.4. Research Sources

       1.4.1. Primary Sources

       1.4.2. Secondary Sources

       1.4.3. Paid Sources

1.5. Market Estimation Technique

Chapter 2. Executive Summary

Chapter 3. Key Insights

Chapter 4. Global Pharma & Healthcare Market Segmentation 

4.1. Global Pharma & Healthcare Market COVID-19 Impact Analysis

4.2. Industrial Outlook

       4.2.1. Market indicators analysis

       4.2.2. Market drivers’ analysis

       4.2.3. Market restraints analysis

 4.3. Technological Insights

 4.4. Porter’s Five Forces Analysis

 4.5. Regulatory Framework

 4.6. Price trend Analysis

 4.7. Competitive Metric Space Analysis

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Frequently Asked Questions Answered in the Report:

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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