The report of global Palliative Care market by Type (Private residence care, Hospice inpatient care, Nursing home, Residential facility center, Others), Application (Cancer, Congestive heart failure (CHF), Chronic obstructive pulmonary disease (COPD), Kidney failure, Alzheimer’s, Parkinson’s, Amyotrophic Lateral Sclerosis (ALS), others), End-User (Hospitals, Homecare settings, Palliative care centers, Long-term care centers & Rehabilitation Centers), and Region (Asia Pacific, North America, Europe, Latin America, and Middle East Africa) is expected to reach US$ XX Mn by 2027, at a CAGR of 8% during a forecast period.
The goal of palliative care is to help people with serious illnesses feel better. It prevents or treats symptoms and reactions of sickness and treatment. The global palliative care market is driven by the growing incidence of cancer, affordability of palliative care centers, high adoption of palliative care centers in developed markets, and the development of innovative therapies. However, a high level of competition between present players, strict government guidelines for approval of services, and lack of awareness among the rural population in underdeveloped and emerging economies are restraining the market growth at the global level.
The cancer segment is expected to grow at the highest XX% CAGR during the forecast period.
In 2019, the cancer segment has dominated the palliative care market and is estimated to grow at a CAGR of XX% during the forecast period. As per to WHO information, 8.2 million people die every year because of cancer that estimates nearly 13% of all the deaths globally. There are more than 100 types of cancers, which need unique diagnoses and treatments. This is foreseen to surge the demand for palliative care centers in the near future.
North America dominated the palliative care market in 2019
In 2019, North America held the XX% share of the palliative care market and is expected to maintain its dominance during the forecast period. Increasing prevalence of dangerous sicknesses like cardiovascular diseases, cancer, Alzheimer’s disease, chronic obstructive pulmonary disease, kidney failure, and many more are responsible for the market growth in the coming years. In terms of both value and volume, the Asia Pacific region will record a significant CAGR of XX% during the forecasted period due to the growing incidence of cardiac diseases, rising investments in healthcare, increasing aged population, and expansions by market players in the region. Asia-Pacific is giving strong competition in the Palliative care market by producing a cost-effective treatment that is high in demand in local as well as in the overall market.
Key players operating the global Palliative Care market are Skilled Healthcare Group Incorporated, Vitas Healthcare Corporation, Sunrise Senior Living LLC, Kindred Healthcare Incorporated, Gentiva Health Services Incorporated, Home Instead Senior Care Incorporated, Amedisys Incorporated, Genesis HealthCare Corporation, GGNSC Holdings LLC, and Senior Care Centers of America.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Palliative Care Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Palliative Care Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Palliative Care Market positioning of competitors.
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