The Palliative Care market is expected to reach USD 10.815 Billion by 2030 at 7.90% CAGR during the forecast period 2022-2030. Palliative care is given to improve the quality of life of patients who have a serious or life-threatening disease such as cancer and helps them feel more comfortable with their treatment. Palliative care may be provided to the patient in the hospital, a long-term care facility, an outpatient clinic, or at home under the supervision of a medical professional. The increasing incidence of life-threatening diseases such as cancer and cardiovascular diseases drives the global palliative care market. According to GLOBOCAN, 19.3 million new cancer cases and almost 10.0 million cancer deaths occurred in 2020. This increasing incidence of cancer is creating a need for palliative care for these patients. The American Society of Clinical Oncology recommends that advanced cancer patients receive palliative care. The patients who pair palliative care with their cancer treatment have a better quality of life than those who do not receive such care.
The global palliative care market is growing due to the increasing mumber of patients suffering from chronic diseases, rising cases of infectious diseases and large number of patients suffering from critical illness. There is a growing demand for palliative care sevices due to increasing number of patients experiencing tauma and large number of road accidents requiring rehabilitation services. Additionally, improving healthcare infrastructure in developing economies is expected to boost market growth. However, the lack of awareness related to palliative care is hampering the growth of the market.
In the light of the COVID-19 pandemic, many healthcare systems are experiencing an increased demand for palliative care services. The COVID-19 pandemic has spotlighted the need for doctors and nurses trained in palliative care. There has been increased demand for palliative care teams at hospitals around the globe. Patients suffering from life-threatening diseases such as cancer have a high risk of developing COVID-19 related morbidity and mortality. These patients are anxious to visit the hospitals. Palliative care services have an essential role in response to COVID-19.
According to the International Association for Hospice and Palliative Care (IAHPC), palliative care is active, holistic care of people with serious chronic diseases, especially those near the end of life. According to WHO, it is estimated that about 20 million people worldwide need end-of-life palliative care services each year. The workload for palliative care teams increased during the pandemic. Palliative care services experienced a large surge of patients. There is a high demand for palliative care services at home for patients with chronic, life-threatening diseases. Palliative care has become essential during the COVID-19 emergency. Research has found that palliative care at the end of life can reduce the likelihood of using intensive care units and also reduce hospitalization costs. These factors resulted in a surge in demand for palliative care during the pandemic.
Growing number of palliative care centers worldwide
The need for palliative care is increasing worldwide due to the aging of the world's population and the increase in the number of patients suffering from life-threatening diseases in developed and developing countries. According to WHO, only about 14% of people who need palliative care currently receive it around the globe. This has resulted in a growing number of palliative care centers worldwide. Palliative care has developed rapidly and continuously in the past decade across the world. The majority of adults in need of palliative care have chronic diseases such as cancer (34%), cardiovascular diseases (38.5%), chronic respiratory diseases (10.3%), AIDS (5.7%), and diabetes (4.6%). According to the Center to Advance Palliative Care, approximately 61% of all hospitals with more than 50 or more beds have a palliative care team in the US. The growing number of palliative care centers around the globe is boosting the global palliative care market.
Increasing instances of life-threatening diseases
Lack of access to palliative care services in developing and underdeveloped countries
According to WHO, restrictive regulations for morphine and other essential controlled palliative medicines deny access to adequate palliative care. Every year, an estimated 40 million people require palliative care, with 78% of them living in low-and middle-income countries. Lack of access to palliative care services in developing and underdeveloped countries is a restraining factor for the global palliative care market. In underdeveloped countries, there is no access to essential medicines such as morphine for pain control. The people living with chronic, life-threatening illnesses in these countries either do not receive any palliative care services or receive services only in the last phase of their illness. Lack of public awareness, insufficient palliative care education for health professionals and volunteers, lack of inclusion within national policies, and limited partnership working affect the palliative care market in such countries.
Growing geriatric population
According to the Department of Economic and Social Affairs, there are an estimated 727 million people aged 65 years or over worldwide. It is also projected that this number will be more than doubled by 2050, reaching over 1.5 billion people. The European Union Geriatric Medicine Society and European Association for Palliative Care have jointly called for every older citizen with chronic disease to be offered the best possible palliative care approach wherever they are cared for. The aging population tends to have a higher prevalence of chronic diseases such as cardiovascular diseases, cancer, and neurological diseases. According to WHO, between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. Palliative care assists the elderly in reducing hospital visits, focusing on the body, mind, and spirit, providing pain and symptom control, and assisting patients and families in understanding treatment plans.
Expansion in developing countries
Global Palliative Care Market Share (%), by Type, 2020Source: MRFR Analysis
Value Chain Analysis
The global palliative care market is growing steadily and is expected to continue growing at a significant rate in the near future. This is due to the growing contribution of existing players to make the services available to the public and the rising demand for palliative care services. The supply chain analysis for the palliative care market comprises five major components that start with the customer acquisition, service customization, customer purchase support, customer fulfillment, and post-purchase support.
Hospital Inpatient Care
The hospital inpatient care segment held the largest market share of 24.47% in the global palliative care market in 2020, owing to the increasing prevalence of life-threatening chronic diseases, rise in geriatric population, and favorable government initiatives. The hospital inpatient care segment is expected to witness highest CAGR during the forecast period from 2022-2030.
Hospice Inpatient Care
Hospice inpatient care focuses on improving the quality of life for people with advanced, life-limiting illnesses and their families. The major difference between general palliative care and hospice care is that palliative care is provided alongside the treatment for the diseases; however, disease treatment is halted during hospice care. This type of treatment is not given to everyone suffering from a life-threatening disease but to people expected to live for around six months or less.
Nursing homes segment is driven by the increasing number of residents in nursing homes. For instance, according to the Centers for Disease Control and Prevention (CDC), by 2030, the nursing home resident population is expected to reach around 3 million in the US.
Residential Facility Care
Residential care facilities are private facilities that house around 20 or lesser residents. The palliative care provided in such facilities is referred to as residential facility care. However, resident facilities do not provide access to nursing and medical care on site, which might be a disadvantage for certain people that require such services around the clock. Experienced healthcare professionals and nurses come in at arranged times during the day in order to provide palliative care treatment to the patients.
Homes are still one of the most preferred places for patients suffering from life-threatening diseases to receive end-of-life care. Highly competent and specialist nurses are required to provide the same effective care in homes as provided in hospitals and nursing homes.
Private Residence Care
The palliative care provided at a patient’s private residence or home is referred to as private residential care.
The cardiac disease segment held the largest market share in 2020 owing to the increased need for palliative care for patients suffering from cardiac diseases and the growing geriatric population. Moreover, the risks associated with cardiac disease increase with age, supplemented by the rising geriatric population. This, in turn, increases demand for palliative care and will drive growth for the segment in the future.
Congestive Heart Failure
About 6.2 million adults in the United States had heart failure in 2018 and In 2018, heart failure was mentioned on 379,800 death certificates. Large number of patients experiencing heart failure globally is expected to increase demand for palliative care.
According to Global Cancer Statistics 2020, an estimated 19.3 million new cancer cases were recorded worldwide in 2020. It is expected to increase to 28.4 billion cases by 2030, a 47% increase from 2020 levels. This rise in cancer cases will drive demand for palliative care, augmenting growth of the market.
Chronic Obstructive Pulmonary Disease (COPD)
The cause of COPD is usually long-term exposure to irritants that damage your lungs and airways. According to the WHO’s fact sheet, COPD is the third leading cause of death worldwide and was responsible for 3.23 million deaths in 2019
According to Chronic Kidney Disease in the United States, 2021 by Centers for Disease Control and Prevention, More than 1 in 7, that is 15% of US adults or 37 million people, are estimated to have chronic kidney disease. In England, according to a recent report published by NHS Kidney Care, chronic kidney disease costs more than breast, lung, colon and skin cancer combined.
According to the Alzheimer's Association, the number of Americans living with Alzheimer's is growing and more than 6 million Americans of all ages have Alzheimer's. One in nine people age 65 and older (11.3%) has Alzheimer's dementia. By 2050, the number of people age 65 and older with Alzheimer’s may grow to a projected 12.7 million, barring the development of medical breakthroughs to prevent, slow or cure Alzheimer’s disease.
Nearly one million people in the US are living with Parkinson's disease, which is more than the combined number of people diagnosed with multiple sclerosis, muscular dystrophy and amyotrophic lateral sclerosis. The number of patients suffering from Parkinson’s disease is expected to rise to 1.2 million by 2030.
Amyotrophic Lateral Sclerosis (ALS)
ALS is a rare neurological disease that primarily affects the nerve cells responsible for controlling voluntary muscle movement. Although the symptoms of ALS can begin at any time in adulthood, they most commonly manifest in individuals between 55 and 75 years old.
By End User
Long Term Care Centers & Rehabilitation Centers
This segment held the largest market share in the global palliative care market in 2020, owing to the increasing prevalence of life-threatening chronic diseases, rise in geriatric population, and favorable government initiatives. There are four major types of long-term care centers which include independent living facilities, nursing homes, assisted living communities, and continuing care retirement communities.
Hospitals & Clinics
Hospitals & clinics are the preferred choice of treatment for palliative care. The availability of reimbursement facilities on in-patient basis in most developed countries is expected to support growth of this segment.
Palliative Care Centers
Palliative care is provided in different settings based on the requirements and needs of the patients suffering from chronic diseases. Palliative care has been increasing in recent times, with hospitals and clinics improving their palliative care capabilities. For instance, as of 2019, the Center to Advance Palliative Care estimated that around 72% of the American hospitals have a palliative care team.
Home Care Settings
The home care settings segment is expected to hold a significant share in the palliative care market as patients prefer their homes to receive treatment over other medical institutions. This requires hiring healthcare professionals who can provide appropriate palliative care. Reduced healthcare expenses and less utilization of healthcare resources are some of the benefits of home care settings.
Global Palliative Care Market Share (%), by Region, 2020Source: MRFR Analysis
The Americas accounted for a market share of 37.0% in 2020. This high proportion of the market share of the Americas can be attributed to large number of patients suffering from critical illness and burden of chronic diseases. According to WebMD, in December 2020, the US ranked fourth globally in the prevalence of cardiac diseases. This increases the demand for palliative care as patients with cardiovascular diseases require palliative care the most.
Europe is expected to exhibit a CAGR of 9.10% during the forecast period. According to Eurostat, 20.6% of the population in the European Union were aged 65 and above in 2020. Geriatric population are more prone to suffering from chronic diseases, which increases the demand for palliative care in the region.
Asia-Pacific, with countries such as China, India, Japan, the Republic of Korea, and Australia, is expected to grow at the highest CAGR in the market and would continue with this trend through the forecast period. The major factor attributing to this growth includes emerging economic conditions, increasing investment in healthcare services, and increasing disposable income of the population. The growth could also be credited to factors such as large number of road accidents and trauma cases in the region.
Middle East & Africa:
The Middle East & Africa region is estimated to show staggering growth due to the presence of low- and middle-income countries and inadequate healthcare systems. According to the WHO, around 40 million people require palliative care every year, but 78% of them are not able to access it, of which around half of them are from Africa. However, government initiatives to implement better healthcare infrastructure are providing some amount of growth to the regional market.
The global palliative care market is distinguished by the presence of numerous global, regional, and local players catering to demand generated by bedridden patients suffering from terminal illness. The increasing demand for palliative care services is making the palliative care market more lucrative. The major players have adopted a strategy of inorganic growth such as mergers and acqusiitions. For instance, between October to November 2020, LHC Group, Inc. (US) announced the acquisition of palliative service providers in the US which includes Grace Hospice of Oklahoma, US., East Valley Hospice & East Valley Palliative Care, US, and Christus San Marco Hospice, US. In April 2021, Sunrise Senior Living (US) announced the opening of a new community in Newton, Massachusetts. Newton community consists of 85 assisted living and memory care units.
List of Key Companies Covered in this report:
The study covers the existing short-term and long-term market effects, helping decision-makers draft short-term and long-term plans for businesses by region. The report covers major regions in the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The report analyzes market drivers, restraints, opportunities, challenges, Porter's Five Forces, Value Chain, and impact of COVID-19 on the market.
Scope of the Report & Segmentation
Global Palliative Care Market, by Type
Global Palliative Care Market, by Application
Global Palliative Care Market, by End User
Global Palliative Care Market, by Region
|Market Size||USD 21.44 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application, End User, and Region|
|Geographies Covered||Americas, Europe, Asia-Pacific, and Middle East & Africa|
|Key Vendors||Vitas Healthcare Corporation (US) • Sunrise Senior Living, LLC (US) • Home Instead, Inc. (US) • Amedisys, Inc. (US) • Genesis Healthcare, Inc. (US) • LHC Group, Inc. (US) • Revera Inc. (Canada) • FC Compassus LLC (Japan) • Kindred Healthcare (US) • Seymour Health (Australia)|
|Key Market Opportunities||Growing geriatric population|
|Key Market Drivers||Increasing instances of life-threatening diseases • Growing number of palliative care centers worldwide|
The study period of the global palliative care market is 2022 - 2030
The global palliative care market is growing at a CAGR of ~7.90% over the next 10 years.
Asia-Pacific is expected to register the highest CAGR during 2022 - 2030
North America held the largest share in 2021
Amedisys, Inc., Chemed Corporation (Vitas Healthcare), Fillmore Capital Partners, LLC (Golden Living Centers/GGNSC Holdings LLC), Genesis HealthCare (Skilled Healthcare Group Inc.), Home Instead, Inc. are the major companies operating in the global palliative care market.