Palliative
care is specialized medical care for people suffering from serious
illness. This type of care is focused on relief from the symptoms and
stress of a serious illness. Palliative care is provided by a
specially-trained team of doctors, nurses, and other specialists.
Palliative care teams specialize in treating people suffering from
serious illnesses such as cancer, congestive heart failure (CHF),
chronic obstructive pulmonary disease (COPD), kidney disease,
Alzheimer’s, Parkinson’s, Amyotrophic Lateral Sclerosis (ALS) and
others. Palliative care market size is increasing in higher income
countries such as European countries and Japan due to rising
geriatric population suffering from chronic illness. Palliative care
also includes equipment such as wheelchairs, walkers, crutches,
oxygen equipment, blood pressure monitors, etc.
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Global
Palliative Care Market Drivers
The
palliative care market revenue is expected to witness significant
growth over the forecast period, owing to increasing demand for
palliative care centers by patients suffering from chronic illness.
For instance, according to Center to Advance Palliative Care (CAPC),
in North America, the prevalence of hospitals with a palliative care
team increased from 658 to 1,831, which is around 178% increase from
2000 to 2016.
Increasing
geriatric population suffering from chronic illness is contributing
to the palliative care market size. Palliative care centers are
widely involved in taking care of elderly patients affected with
chronic illness. According to National Council on Aging 2018 report,
around 80% of older adults have at least one chronic disease and 77%
have at least two chronic diseases such as heart disease, cancer,
stroke, and diabetes.
Global
Palliative Care Market: Regional Analysis
North
America is expected to hold the dominant position in the palliative
care market, owing to increased spending on healthcare facilities,
infrastructure, and healthcare policies for treatment of chronic
diseases. For instance, according to National Health Expenditure
Accounts (NHEA), the U.S. health care spending increased 3.9% in 2017
reaching US$ 3.5 trillion or US$ 10,739 per person, compared to 2016
which was US$ 3.3 trillion
Asia
Pacific palliative care market revenue is expected to witness
significant growth owing to increasing patient base of chronic
illness in older adults. For instance, China has the largest
population in the world, according to the WHO 2013 report, out of the
202 million older people in China, more than 100 million had at least
one chronic non-communicable disease such as ischemic heart disease,
cancer, stroke, arthritis and dementia. Furthermore, many had
multiple chronic diseases at the same time.
Global
Palliative Care Market: Competitive Landscape
Key
players operating in the global palliative care market include 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, and Genesis HealthCare Corporation.
Global
Palliative Care Market: Taxonomy
The
global palliative care market is segmented on the basis of service
type, application, and region.
By
Service Type
-
Private Residence Care
-
Hospital Inpatient Care
-
Nursing Home Care
-
Residential Facility Care
By
Application
-
Cancer
-
Cardiac Diseases
-
Chronic Obstructive Pulmonary Disease (COPD)
-
Kidney Diseases
-
Neurologic Diseases
-
Others
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