The global palliative care market size was USD 3.53 Billion in 2020 and is expected to register a revenue CAGR of 7.8% during the forecast period. Increasing focus on improving quality of life of patients with life-threatening or debilitating illness by alleviating pain and symptoms, establishment of professional palliative care organizations, and access to advanced palliative care services to all across the globe are key factors expected to drive market revenue growth over the forecast period. Palliative care provides a support system to help caregivers and families to cope with the illnesses, reduce financial burden on families, decrease hospital admissions, and reduce emergency room consultations and this is leading to further implementation of palliative care and is expected to boost revenue growth of the market going ahead.
Palliative care has significantly evolved over the last few decades and has proven to be essential for patients with chronic advanced illnesses. According to statistical analysis, nearly twenty million people across the globe require palliative care at the end of life every year as palliative care is essential to improve quality of life and emotional and spiritual well-being. Palliative care is a healthcare specialty that effectively combines philosophy of care and organized, highly structured system to deliver patient-centric care for people living with incurable, and life-threatening conditions. Palliative care is a holistic, patient-centric, comprehensive, and multidimensional discipline that addresses not only the physical aspect but also psychological, social, and spiritual dimensions. Palliative care can be introduced in various settings including as a stand-alone service in hospice or center, in hospitals, community-based, and in home care settings. Palliative care is provided by a multidisciplinary team including physicians, nurses, physiotherapists, occupational therapists, psychologists, and social workers, among others. Over the recent past, palliative care has become an integral part of all relevant global disease control and health care system plans. Implementation of palliative care is significantly reducing financial burden on healthcare systems and further boosting adoption of palliative care. This is expected to further fuel revenue growth of the market going ahead.
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People who receive palliative and hospice care live longer and have a better quality of life as compared to people with the same illness who do not receive such care. Current and constant changes in health care system is leading to implementation of favorable policies that support palliative care. Increasing number of financial and quality incentives and reimbursement for advanced care planning are boosting interest in palliative care models and is expected to significantly drive revenue growth of the market. However, challenges associated with palliative care such as poor accessibility to essential palliative care drugs, lack of training to healthcare workers, and lack of favorable policies for palliative care in underdeveloped and developing countries are some key factors that can restrain market growth to a certain extent over the forecast period.
Driver: Increasing access to palliative care and favorable reimbursement policies are key factors expected to drive market growth
Recent advancements and changes in the health care system across the globe has led to development and implementation of policies that support palliative care services under essential healthcare facilities. For instance, Medicare Hospice Benefits (MHB) offers 87% coverage of hospice and palliative care centers patient days with the rest of coverage from other insurance providers such as Medicaid, self-pay, private insurers, and charity care. Increasing integration of palliative care at the primary and secondary levels of health care have further boosted its adoption in patient care. Home-based palliative care services also reduce Medicare costs and need for hospitalization. Availability of financial and quality incentives for home-based palliative care have led to increased interest of health systems and payers in palliative care models. Establishment of palliative care organizations have led to increasing number of patients and families becoming eligible for palliative care. Multi-disciplinary team approach to alleviate pain and symptoms and offer bereavement counselling have resulted in coordinated care that focuses on improving quality of life and helping patients receive care in their homes, receive daily assistance, and proactive medical care and disease management. These have led to additional cost-savings, provision of high-quality of services, and a robust referral network. These key factors are expected to significantly contribute to revenue growth of the market.
Restraint: Lack of knowledge and misperceptions about palliative care are key factors expected to restrain market growth
Various factors are responsible for the underutilization of palliative care services including lack of knowledge among individuals and misperceptions. Low level of awareness and misinformation about palliative care and hospice care is common among community-dwelling adults. In addition, multiple surveys have demonstrated that patients and caregivers are unaware of basic information of palliative care such as how it is delivered and payment options which makes them wary about these services. In certain cases, participants have often associated palliative with end-of-life care and described it as negative and scary deterring people from using these services and these factors can potentially restrain growth of the market going ahead. However, implementation of effective educational intervention to boost palliative care receptivity and understanding which areas of palliative care and education need focus can help overcome these challenges and contribute to revenue growth of the market.
Care Type Outlook:
Based on care type, the global palliative care market has been segmented into hospital inpatient care, private resident care, hospice resident care, nursery and residential facility care, and others. Private resident care segment is expected to account for largest revenue share over the forecast period attributable to increasing preference for home-based palliative care among patients and elderly population. Home-based palliative care enhances satisfaction and quality of life in patients and their families while reducing expenses on health care system and need for re-hospitalization. These are some other key factors expected to contribute to revenue growth of this segment.
Home-based palliative care also minimizes the stress and upheaval associated with moving a loved one to the nursing home or long-term care facility. Professional caregivers offer one-on-one assistance and non-medical support to chronically ill patients including meal planning and preparation, routine and light housekeeping, ensuring timely administration of medications, encouraging exercise, and helping them go to doctor’s appointment. Palliative care at home has resulted in significant improvement in overall quality of live for both patients and their relatives. Home-based palliative care offers numerous benefits such as maximum convenience, highest level of comfort in familiar surroundings, and minimizing additional costs for hospital stays, medical fees, and travel, among others.
Based on application, the global palliative care market has been segmented into cancer, chronic obstructive pulmonary disease (COPD), cardiac diseases, Alzheimer’s, Parkinson’s, kidney failure, amyotrophic lateral sclerosis (ALS), and others. Cancer segment is expected to register significant revenue growth over the forecast period owing to increasing need for palliative care for cancer patients to alleviate pain and symptoms and help them better manage their health and diagnosis. Palliative care plays an important role in care that is included with treatments to slow the progression, stop, or cure the cancer. Treatment of cancer is important but relieving side effects and symptoms is equally important to improve quality of life of patients and enhance satisfaction of treatment.
Cancer symptoms, treatment, and medications can have adverse effects on mental health and palliative care often helps in reducing stress and anxiety by encouraging exercise, counselling, meditation, and medications to address anxiety, depression, and sleep problems. Palliative care also helps in managing physical side effects – called late effects – that last after cancer treatment is over. In addition, palliative care also provides support to caregivers and children of cancer patients and help them balance care for the patients and their own health. These key factors have led to increasing preference for palliative and end-of-life care for cancer patients and is expected to further contribute to revenue growth of the segment going ahead.
Based on end-use, the global palliative care market has been segmented into hospital, palliative care centers, home care settings, long-term care centers & rehabilitation centers. Palliative care centers segment is expected to register robust revenue CAGR over the forecast period attributable to growing need for consistent-quality care plans and trained staff for providing palliative care to the patients. Palliative care units offer excellent clinical management to patients who have severe symptoms that are hard to manage, to patients who need end-of-life care, and to patients with advanced serious illnesses.
Palliative care centers are equipped with expert and trained staff and have a physical environment that is significantly different from hospitals. Staff and professionals in these centers have more experience in providing palliative care and are more attentive to palliative care issues of the patients with life-threatening or debilitating illnesses. These centers also offer comfortable and home-like environment with increased privacy, peace and quiet to help patients better manage their illnesses and mental health. These palliative centers have been designed in a way that meet the required needs of hospitals and surrounding communities and this is expected to further boost revenue growth of the palliative care centers segment.
Based on regional analysis, North America is expected to account for largest revenue share in the global market over the forecast period attributable to increasing integration of palliative care in health care management programs, implementation of favorable policies and reimbursement plans that cover palliative and end-of-life care, advancements in palliative care, and presence of key players in the region. Palliative care is considered as an established field of medicine with a formal accreditation process in the United States, has a rising professional and public awareness, has a high availability of training options, and is provided in almost all health care settings and these key factors are expected to further fuel revenue growth of the North America market over the forecast period.
Asia Pacific market revenue is expected to expand at revenue CAGR of 8.6% during the forecast period attributable to high demand for palliative care owing to increasing number of patients diagnosed with advanced stage diseases, growing availability of specialist palliative care services, rising availability of essential drugs for palliative care, and presence of organizations such as Asia Pacific Hospice Palliative Care Network (APHN) that promotes a network of individuals and national organizations active involved in palliative care to streamline palliative care services in the region.
The global palliative care market is slightly fragmented with presence of large number of players operating on a global and regional scale. Key players are engaged in product development and strategic alliances to cater to growing global demand and gain a robust footing in the market. 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.
Strategic Developments in the Market include:
- In October 2021, a consortium of palliative care organizations in India launched “Saath-Saath” helpline which is a national, free-of-cost service to seamlessly connect patients, caregivers, and healthcare providers with nearest palliative care centers. The consortium includes Cipla Palliative Care, CanSupport, Pallium India and other eight palliative care organizations.
- In October 2021, the World Health Organization (WHO) released two new resources – a WHO technical report that offers a globally applicable and robust set of palliative care indicators and a technical brief on quality health services and palliative care – to support countries in focusing on development and quality improvement of palliative care services.
- In October 2021, Canadian Virtual Hospice, which is a website dedicated to offer support about palliative care, introduced a new pediatric palliative care webspace named “CaringTogether.life”.
Quality of ICU-based palliative care is different and has different outcomes depending on the patients admitted to the ICUs. To address these barriers and challenges in ICU patients, a mobile app called PCplanner (Palliative Care Planner) has been developed that will automate identification of high-risk patients by directly obtaining information from electronic health record systems, boost family engagement with supportive information, and streamline delivery of care to those with a high need by enabling collaboration between ICU teams and palliative care specialists. The randomized controlled trial has been designed to test the efficacy of PCplanner –augmented collaborative palliative care in comparison with usual care with a 3-month follow up. The trial will include 240 participants and is sponsored by Duke University in association with National Institute on Aging.
Segments Covered in the Report:
This report offers historical data and forecasts revenue growth at a global, regional, and country level, and provides analysis of the market trends in each of the sub-segments from 2019 to 2030. For the purpose of this report, Reports and Data has segmented the global palliative care market based on care type, application, end-use, and region:
Palliative Care Market Report Scope
Segments covered By Care Type Outlook, Application Outlook, Regional Outlook
By Care Type Outlook
Hospital Inpatient Care
Private Resident Care
Hospice Resident Care
Nursery and Residential Facility Care
By Application Outlook
Chronic obstructive pulmonary disease (COPD)
Amyotrophic Lateral Sclerosis (ALS)
By End-Use Outlook
Palliative care centers
Home care settings
Long-term care centers & Rehabilitation Centers
Middle East & Africa
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