Market Overview:
The global hospice services market is expected to grow at a CAGR of 7.8% from 2018 to 2030. The growth in the market can be attributed to the increasing prevalence of chronic diseases, rising geriatric population, and growing demand for palliative care. In addition, the increasing awareness about hospice services among patients and caregivers is also contributing to the growth of this market. On the basis of type, acute care accounted for the largest share of the global hospice services market in 2017. This segment is expected to grow at a CAGR of 7.9% from 2018 to 2030 due to increase in incidence rates of chronic diseases such as cancer and heart disease across regions worldwide. However, respite care is projectedto grow at a higher rate duringthe forecast period owingto its benefits such as reducing stress levels and improving qualityof life for caregivers .
Product Definition:
Hospice services provide care to people with a life-limiting illness who are in the last stages of their lives. Hospice services can be provided in a person's home, in a hospice facility, or in a hospital. Hospice services are important because they provide comfort and support to people who are dying and their families.
Acute Care:
Acute care is a medical service that provides short-term treatment for severe illness or injury. It is usually provided by the emergency room (ER), hospital, or clinic and covers only the most basic requirements of treating an injury or illness. The major factor driving this market includes increasing prevalence of chronic diseases such as heart disease, cancer, diabetes which need constant monitoring and attention otherwise leading to complications at a later stage.
RespiteCare:
Respite care is a form of short-term care that provides social and medical services to patients who cannot receive these services at home. It is provided by the community health system, which includes hospitals, nursing homes, assisted living facilities and other residential care centers.
Application Insights:
The home settings segment dominated the global market in 2017. This can be attributed to a growing preference for patients to remain at home as much as possible during their final stages of life, coupled with an increase in the availability of hospice services at affordable prices. The Hospice Care Centers segment is expected to witness lucrative growth over the forecast period owing to increasing government support and initiatives for improving end-of-life care, especially in developed countries like U.S., Canada, Germany and France.
Hospitals are anticipated to be one of the fastest-growing application segments over the forecast period due mainlyto rising awareness about palliative and end-of-life care services among hospitals administration staff along with an increasein hospital beds dedicated towards this purpose globally since 2015 (i.e., End Of Life Care (ELC) beds).
Regional Analysis:
Europe dominated the global market in 2017. The presence of well-developed healthcare infrastructure, high prevalence of chronic diseases, and availability of palliative care services are some factors responsible for its large share. Moreover, increasing number of deaths due to cancer has led to an increase in demand for palliative care services in this region. According to the European Cancer Observatory (ECO), around 1 million people die due to cancer every year in Europe; however only 10% cases are diagnosed till death because it is a silent disease Most Hospices Are Nonprofit Organizations that Serve People With Limited Financial Resources In U.S.
In addition, growing awareness about hospice and palliative care among patients and their families as well as health professionals is expected favorably impact market growth over the forecast period.
Growth Factors:
- Aging population: The global population of people aged 60 and over is expected to more than double from 542 million in 2010 to 1.3 billion by 2050, according to the United Nations Department of Economic and Social Affairs Population Division. This will create a larger pool of patients requiring hospice services.
- Increased awareness: There has been a growing awareness about hospice care in recent years, thanks in part to campaigns by advocacy groups and the media that have raised public understanding about the benefits of hospice care for both patients and their families. This increased awareness is likely helping to drive demand for hospice services.
- Shifting healthcare landscape: Hospices are benefiting from changes in the healthcare landscape, as hospitals increasingly outsource non-emergency procedures such as end-of-life care to specialized providers like hospices instead of providing them themselves. This shift is creating opportunities for growth for the hospice industry overall.
Scope Of The Report
Report Attributes
Report Details
Report Title
Hospice Services Market Research Report
By Type
Acute Care, RespiteCare
By Application
Home Settings, Hospitals, Specialty Nursing Homes, Hospice Care Centers
By Companies
Kindred Healthcare, National Hospice and Palliative Care Organization, Alzheimer's Association, Benton Hospice Services, Oklahoma Hospice Care, New Hampshire Hospice and Palliative Care Organization, Dierksen Hospice, Covenant Care, Chatham-Kent Hospice, PruittHealth, Fairview Health Services
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
194
Number of Tables & Figures
136
Customization Available
Yes, the report can be customized as per your need.
Global Hospice Services Market Report Segments:
The global Hospice Services market is segmented on the basis of:
Types
Acute Care, RespiteCare
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Home Settings, Hospitals, Specialty Nursing Homes, Hospice Care Centers
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Kindred Healthcare
- National Hospice and Palliative Care Organization
- Alzheimer's Association
- Benton Hospice Services
- Oklahoma Hospice Care
- New Hampshire Hospice and Palliative Care Organization
- Dierksen Hospice
- Covenant Care
- Chatham-Kent Hospice
- PruittHealth
- Fairview Health Services
Highlights of The Hospice Services Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Acute Care
- RespiteCare
- By Application:
- Home Settings
- Hospitals
- Specialty Nursing Homes
- Hospice Care Centers
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Hospice Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Hospice services are a type of care that is offered to people who are terminally ill and have less than six months to live. Hospice services help patients and their families cope with the end of life by providing comfort, support, and peace.
Some of the major companies in the hospice services market are Kindred Healthcare, National Hospice and Palliative Care Organization, Alzheimer's Association, Benton Hospice Services, Oklahoma Hospice Care, New Hampshire Hospice and Palliative Care Organization, Dierksen Hospice, Covenant Care, Chatham-Kent Hospice, PruittHealth, Fairview Health Services.
The hospice services market is expected to grow at a compound annual growth rate of 7.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Hospice Services Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Hospice Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Hospice Services Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Hospice Services Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Hospice Services Market Size & Forecast, 2020-2028
4.5.1 Hospice Services Market Size and Y-o-Y Growth
4.5.2 Hospice Services Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Acute Care
5.2.2 RespiteCare
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Home Settings
6.2.2 Hospitals
6.2.3 Specialty Nursing Homes
6.2.4 Hospice Care Centers
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Hospice Services Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Hospice Services Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Acute Care
9.6.2 RespiteCare
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Home Settings
9.10.2 Hospitals
9.10.3 Specialty Nursing Homes
9.10.4 Hospice Care Centers
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Acute Care
10.6.2 RespiteCare
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Home Settings
10.10.2 Hospitals
10.10.3 Specialty Nursing Homes
10.10.4 Hospice Care Centers
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Acute Care
11.6.2 RespiteCare
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Home Settings
11.10.2 Hospitals
11.10.3 Specialty Nursing Homes
11.10.4 Hospice Care Centers
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Acute Care
12.6.2 RespiteCare
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Home Settings
12.10.2 Hospitals
12.10.3 Specialty Nursing Homes
12.10.4 Hospice Care Centers
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Acute Care
13.6.2 RespiteCare
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Home Settings
13.10.2 Hospitals
13.10.3 Specialty Nursing Homes
13.10.4 Hospice Care Centers
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Hospice Services Market: Competitive Dashboard
14.2 Global Hospice Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Kindred Healthcare
14.3.2 National Hospice and Palliative Care Organization
14.3.3 Alzheimer's Association
14.3.4 Benton Hospice Services
14.3.5 Oklahoma Hospice Care
14.3.6 New Hampshire Hospice and Palliative Care Organization
14.3.7 Dierksen Hospice
14.3.8 Covenant Care
14.3.9 Chatham-Kent Hospice
14.3.10 PruittHealth
14.3.11 Fairview Health Services
