Hospice Services Market
Hospice Services Market Size, Share & Trends Analysis Report by Services (Nursing Services, Medical Equipment and Supplies, Counseling Services, Short Term Inpatient Services, Physician Services, and Others), by Care Type (Acute Care and Respite Care), and by End-User (Home Settings, Hospitals, Specialty Nursing Homes, Hospice Care Centers, and others) Forecast Period (2023-2030)
Hospice services market is anticipated to grow at a CAGR of 9.10% during the forecast period (2023-2030). The market’s growth is attributed to number of chronic conditions seeking palliative care. Palliative care is necessary for a wide variety of chronic disorders and is additionally required for a limited number of diseases. Cardiovascular conditions, cancer, long-term respiratory conditions, HIV/ AIDS, diabetes, and other conditions can be among problems. Palliative care services are in increasing demand as the number of chronic diseases globally rises, and that makes them a crucial component of healthcare delivery. According to the World Health Organization (WHO), in August 2020, palliative care is a right that is protected under the human right to health and should be tailored to individual needs and preferences. Many types of chronic conditions require palliative care, such as cardiovascular diseases (38.5%), cancer (34.0%), chronic respiratory diseases (10.3%), AIDS (5.7%) and diabetes (4.6%). Additionally, pain and difficulty in breathing are two of the most frequent symptoms experienced by patients in requirement of palliative care, with 80.0% of AIDS or cancer patients and 67% of cardiovascular disease or chronic obstructive pulmonary disease (COPD) patients experiencing moderate to severe pain at the end of their lives.
Chronic Conditions, 2022 (%)
Source: World Health Organization (WHO)
Key Facts
According to the World Health Organization (WHO),
- Each year, an estimated 56.8 million people, including 25.7 million in the last year of life, are in need of palliative care.
- Globally, only about 14.0% of people who need palliative care currently receive it.
Segmental Outlook
The global hospice services market is segmented on the services, care type, and end-user. Based on the services, the market is sub-segmented into nursing services, medical equipment and supplies, counseling services, short term inpatient services, physician services, and others. Based on the care type, the market is sub-segmented into acute care, and respite care. Furthermore, on the basis of end-user, the market is sub-segmented into home settings, hospitals, specialty nursing homes, hospice care centers, and others. The acute care subcategory is expected to capture a significant portion of the market share within the care type segment. This is attributed to the significant increase in the number of patients suffering from long-term conditions such diabetes, heart disease, stroke, and cancer. Furthermore, more technological developments aimed at raising treatment quality are anticipated to drive this market's expansion.
The Home Settings Sub-Segment is Anticipated to Hold a Considerable Share of the Global Hospice Services Market
Among the end-user, the home settings sub-segment is expected to hold a considerable share of the global Hospice Services market. The segmental growth is attributed to the growing demand for in-home care amid the COVID-19 problem. The COVID-19 pandemic prompted a sharp increase in the demand for patients with severe viral infections to need home-based treatment. In order to lower the danger of transmission in healthcare institutions, numerous individuals preferred to get care in the security and comfort of their own homes. For COVID-19 patients, the requirement for specialized treatment that emphasizes symptom control, emotional support, and enhancing the patient's quality of life can be provided through home-based palliative care. For instance, in February 2021, Mount Sinai Health System expanded its partnership with Contessa to launched Palliative Care at Home. To assist in providing home care for critically ill COVID-19 patients.
Regional Outlook
The global hospice services market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, North America is anticipated to hold a prominent share of the market across the globe, owing to the expanding at a significant rate owing to rising public and private investments in cardiac diseases and better healthcare infrastructure.
Global Hospice Services Market Growth by Region 2023-2030
The North America Region is Expected to Grow at a Significant CAGR in the Global Hospice Services Market
Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the growing demand for chronic disease management. Patients with chronic diseases in India require specialized care and assistance owing to the high frequency of these conditions, particularly in rural areas. In order to provide comprehensive care that is suited to the preferences and symptoms individuals living with chronic diseases, the global market for hospice services has to expand to match their demands. According to the BMC Palliative Care, in February 2022, in Indiana, approximately 6.3 million people are living with at least one chronic illness, and 1.6 million people with two or more chronic illnesses. The most common illnesses are heart conditions (22.0%), cancer (20.5%), chronic obstructive pulmonary disease (18.0%), and diabetes (18.0%). A majority of those living with chronic illness reside in rural areas, and most are part of the agricultural workforce. Factors such as poorer health, limited socioeconomic resources, and restricted access to medical services, including palliative care, have been cited as reasons for the high prevalence of chronic illnesses and higher death rates in this population.
Furthermore, According to research from the Center for Rural Engagement, Indiana University, there is an unequal access to healthcare services in rural areas compared to the rest of the US. In rural areas, there are 230.8 active physicians per 100,000 people, compared to the median of 263.8 physicians per 100,000 individuals in the US. This presents a challenge in providing adequate healthcare services to individuals living in rural areas.
Market Players Outlook
The major companies serving the global hospice services market include Covenant Care California, LLC , Ensign Group, Inc., Extendicare, HCR Healthcare, LLC, and Knight Health Holdings, LLC, among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in November 2022, Kain Capital LLC, launched both the formation of a new holding company for hospice investments and its first acquisition.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global hospice services market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Alzheimer’s Association
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Amedisys, Inc.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Brookdale
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Hospice Services Market by Services
4.1.1. Nursing Services
4.1.2. Medical Equipment and Supplies
4.1.3. Counseling Services
4.1.4. Short Term Inpatient Services
4.1.5. Physician Services
4.1.6. Others (Spiritual Care, and Bereavement Support)
4.2. Global Hospice Services Market by Care Type
4.2.1. Acute Care
4.2.2. Respite Care
4.3. Global Hospice Services Market by End-User
4.3.1. Home Settings
4.3.2. Hospitals
4.3.3. Specialty Nursing Homes
4.3.4. Hospice Care Centers
4.3.5. Others (Government & Regulatory Bodies, and Family Members & Caregivers)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Covenant Care California, LLC
6.2. Ensign Group, Inc.
6.3. Extendicare
6.4. HCR Healthcare, LLC
6.5. Knight Health Holdings, LLC
6.6. LHC Group
6.7. Living Assistance Services
6.8. National Association for Home Care & Hospice
6.9. National Hospice & Palliative Care Organization’s (NHPCO)
6.10. Oklahoma Palliative & Hospice Care
6.11. PruittHealth, Inc.
6.12. Samaritan Health Services
6.13. VITAS Healthcare
1. GLOBAL HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY SERVICES, 2022-2030 ($ MILLION)
2. GLOBAL HOSPICE NURSING SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL HOSPICE MEDICAL EQUIPMENT AND SUPPLIES SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL HOSPICE COUNSELING SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
5. GLOBAL HOSPICE SHORT TERM INPATIENT SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
6. GLOBAL HOSPICE PHYSICIAN SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
7. GLOBAL HOSPICE OTHER SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
8. GLOBAL HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY CARE TYPE, 2022-2030 ($ MILLION)
9. GLOBAL HOSPICE SERVICES AS ACUTE CARE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
10. GLOBAL HOSPICE SERVICES FOR RESPITE CARE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
11. GLOBAL HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY END-USER, 2022-2030 ($ MILLION)
12. GLOBAL HOSPICE SERVICES IN HOME SETTINGS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
13. GLOBAL HOSPICE SERVICES IN HOSPITALS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
14. GLOBAL HOSPICE SERVICES IN SPECIALTY NURSING HOMES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
15. GLOBAL HOSPICE SERVICES IN HOSPICE CARE CENTRES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
16. GLOBAL HOSPICE SERVICES IN OTHER END-USERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
17. GLOBAL HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
18. NORTH AMERICAN HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
19. NORTH AMERICAN HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY SERVICES, 2022-2030 ($ MILLION)
20. NORTH AMERICAN HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY CARE TYPE, 2022-2030 ($ MILLION)
21. NORTH AMERICAN HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY END-USER, 2022-2030 ($ MILLION)
22. EUROPEAN HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
23. EUROPEAN HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY SERVICES, 2022-2030 ($ MILLION)
24. EUROPEAN HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY CARE TYPE, 2022-2030 ($ MILLION)
25. EUROPEAN HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY END-USER, 2022-2030 ($ MILLION)
26. ASIA-PACIFIC HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
27. ASIA-PACIFIC HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY SERVICES, 2022-2030 ($ MILLION)
28. ASIA-PACIFIC HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY CARE TYPE, 2022-2030 ($ MILLION)
29. ASIA-PACIFIC HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY END-USER, 2022-2030 ($ MILLION)
30. REST OF THE WORLD HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY SERVICES, 2022-2030 ($ MILLION)
31. REST OF THE WORLD HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY CARE TYPE, 2022-2030 ($ MILLION)
32. REST OF THE WORLD HOSPICE SERVICES MARKET RESEARCH AND ANALYSIS BY END-USER, 2022-2030 ($ MILLION)
1. GLOBAL HOSPICE SERVICES MARKET SHARE BY SERVICES, 2022 VS 2030 (%)
2. GLOBAL HOSPICE NURSING SERVICES MARKET SHARE BY REGION, 2022 VS 2030 (%)
3. GLOBAL HOSPICE MEDICAL EQUIPMENT AND SUPPLIES SERVICES MARKET SHARE BY REGION, 2022 VS 2030 (%)
4. GLOBAL HOSPICE COUNSELING SERVICES MARKET SHARE BY REGION, 2022 VS 2030 (%)
5. GLOBAL HOSPICE SHORT TERM INPATIENT SERVICES MARKET SHARE BY REGION, 2022 VS 2030 (%)
6. GLOBAL HOSPICE PHYSICIAN SERVICES MARKET SHARE BY REGION, 2022 VS 2030 (%)
7. GLOBAL HOSPICE OTHER SERVICES MARKET SHARE BY REGION, 2022 VS 2030 (%)
8. GLOBAL HOSPICE SERVICES MARKET SHARE BY CARE TYPE, 2022 VS 2030 (%)
9. GLOBAL HOSPICE SERVICES FOR ACUTE CARE MARKET SHARE BY REGION, 2022 VS 2030 (%)
10. GLOBAL HOSPICE SERVICES FOR RESPITE CARE MARKET SHARE BY REGION, 2022 VS 2030 (%)
11. GLOBAL HOSPICE SERVICES MARKET SHARE BY END-USER, 2022 VS 2030 (%)
12. GLOBAL HOSPICE SERVICES IN HOME SETTINGS MARKET SHARE BY REGION, 2022 VS 2030 (%)
13. GLOBAL HOSPICE SERVICES IN HOSPITALS MARKET SHARE BY REGION, 2022 VS 2030 (%)
14. GLOBAL HOSPICE SERVICES IN SPECIALTY NURSING HOMES MARKET SHARE BY REGION, 2022 VS 2030 (%)
15. GLOBAL HOSPICE SERVICES IN HOSPICE CARE CENTRES MARKET SHARE BY REGION, 2022 VS 2030 (%)
16. GLOBAL HOSPICE SERVICES IN OTHER END-USERS MARKET SHARE BY REGION, 2022 VS 2030 (%)
17. GLOBAL HOSPICE SERVICES MARKET SHARE BY REGION, 2022 VS 2030 (%)
18. US HOSPICE SERVICES MARKET SIZE, 2022-2030 ($ MILLION)
19. CANADA HOSPICE SERVICES MARKET SIZE, 2022-2030 ($ MILLION)
20. UK HOSPICE SERVICES MARKET SIZE, 2022-2030 ($ MILLION)
21. FRANCE HOSPICE SERVICES MARKET SIZE, 2022-2030 ($ MILLION)
22. GERMANY HOSPICE SERVICES MARKET SIZE, 2022-2030 ($ MILLION)
23. ITALY HOSPICE SERVICES MARKET SIZE, 2022-2030 ($ MILLION)
24. SPAIN HOSPICE SERVICES MARKET SIZE, 2022-2030 ($ MILLION)
25. REST OF EUROPE HOSPICE SERVICES MARKET SIZE, 2022-2030 ($ MILLION)
26. INDIA HOSPICE SERVICES MARKET SIZE, 2022-2030 ($ MILLION)
27. CHINA HOSPICE SERVICES MARKET SIZE, 2022-2030 ($ MILLION)
28. JAPAN HOSPICE SERVICES MARKET SIZE, 2022-2030 ($ MILLION)
29. SOUTH KOREA HOSPICE SERVICES MARKET SIZE, 2022-2030 ($ MILLION)
30. REST OF ASIA-PACIFIC HOSPICE SERVICES MARKET SIZE, 2022-2030 ($ MILLION)
31. REST OF THE WORLD HOSPICE SERVICES MARKET SIZE, 2022-2030 ($ MILLION)
