Market Scenario
Increasing
incidence of diseases such as cancer, cardiovascular and infective disease are
some of the drivers responsible for the market growth of global palliative care
market. Other factors such as a growing number of palliative care centers
worldwide, expanding aging demographics, increasing number of qualified physicians
for palliative care are responsible for the rise in the global palliative
market. The main object of palliative care is to enhance personal satisfaction
for both the patient and family. This palliative care can be provided at any
age and at any phase in a genuine ailment and can be furnished alongside
remedial treatment.
But
the high cost of treatment, less private or public funding to hospital
facilities and other medical centers can be a major restraint for the growth of
the global palliative care market.
Global
Palliative Care market is expected to grow during the forecast period
(2018–2023) at a CAGR ~8.1 %.
Palliative
care helps to improve the quality of life of patients and their families facing
the problems of serious illness. The main focus of Palliative care is to
provide relief from symptoms and stress of a serious illness. Their main goal
is to improve the quality of life for both the patient and the family.
Palliative care treats people living with a serious illness such as cancer,
cardiac diseases such as congestive heath failure, kidney failure, Alzheimer’s
and many more. It improves the quality of life of the patient and supports the
primary physician, patient, and family. In last 15 years, the Palliative care
market has a stunning growth and the factors that have led to the growth of
this market are growing the aging population, increase in chronic
life-threatening disease, initiative taken by the government and non- profit
organization, and rise in government funding.
However,
the high cost of treatment, misuse of funding and lack of awareness are some of
the factors which are hampering the growth of the market during the forecast
period.
Segmentation
The
Global Palliative Care Market is segmented into types such as private residence
care, hospice inpatient care, hospital inpatient care, nursing home and
residential facility care and others. On the basis of application, the market
is further segmented into cancer, cardiac diseases such as congestive heart
failure (CHF), chronic obstructive pulmonary disease (COPD), kidney failure,
Alzheimer’s, Parkinson’s, Amyotrophic Lateral Sclerosis (ALS) and many more. On
basis of end-user, the market is further segmented into hospitals, home care
settings, palliative care centers, long-term care centers & rehabilitation
centers.
Key
Players
·
Vitas
Healthcare Corporation
·
Skilled
Healthcare Group Incorporated
·
Sunrise
Senior Living LLC
·
Kindred
Healthcare Incorporated
·
Gentiva
Health Services Incorporated
·
Home
Instead Senior Care Incorporated
·
Amedisys
Incorporated
·
Genesis
HealthCare Corporation
Regional
Market Summary
The
market has been segmented, by region, into the Americas, Europe, Asia Pacific,
and the Middle East and Africa. The Global Palliative Care Market in the
Americas has further been segmented into North America and South America, with
the North American market divided into the US and Canada. The European Global
Palliative Care Market has been segmented into Western Europe and Eastern
Europe. Western Europe has further been classified as Germany, France, the UK,
Italy, Spain, and the rest of Western Europe. The Global Palliative Care Market
in Asia-Pacific has been segmented into Japan, China, India, South Korea,
Australia, and the rest of Asia-Pacific. The Palliative care market in the
Middle East and Africa has been segmented into the Middle East and Africa.
In terms
of market value, North America will dominate the Palliative care market during
the forecast period. Increasing incidences of life-threatening illness such as
cancer, cardiovascular diseases, Alzheimer’s disease, kidney failure, chronic
obstructive pulmonary disease and many more are some of the factors which are
responsible for the growth of the market during the forecast period. In 2015 on
average 90 % of US hospitals containing 300 beds or more provide Palliative
care services to their patients. This has led to the growth of the market in
coming years. The European market is expected to be the second-largest
Palliative care market. The market growth in this region can be attributed to
government funding and support of the healthcare sector coupled with increasing
research and development. Moreover, a growing number of Palliative care centers
worldwide, extending application for homecare, increasing number of qualified
physicians for Palliative care center and expanding aging demographics are some
of the factors responsible for the rise in the global Palliative care market.
Asia-Pacific is expected to be the fastest-growing Palliative care market
during the forecast period owing to the increasing prevalence of cardiac
diseases, rising investments in healthcare, increasing geriatric population,
and expansions by market players in the region. Asia-Pacific is giving the
strong competition in the global Palliative care market by producing a
cost-effective treatment that is high in demand in local as well as in the
global market. The market in the Middle East and Africa is expected to account
for the smallest share in the global Palliative care market due to the
underdeveloped healthcare sector, lack of technical knowledge, and poor medical
facilities.
Table
Of Content
1.
Report Prologue
2.
Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
3.
Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4.
Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
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