Europe Palliative Care and Hospice Market was valued at USD 6.5 Billion in 2022 and is projected to reach USD 12.1 Billion by 2030, growing at a CAGR of 8.3% from 2024 to 2030.
The European palliative care and hospice market is experiencing significant growth, driven by an aging population and an increased prevalence of chronic diseases. In 2023, Europe accounted for 38% of the global palliative care market, with projections indicating a rise from $47.91 billion to $138.08 billion by 2034, reflecting a compound annual growth rate (CAGR) of 9.2%.
Palliative care focuses on improving the quality of life for patients with serious illnesses by addressing physical, emotional, social, and spiritual needs. Services are provided across various settings, including hospitals, nursing homes, outpatient clinics, and patients' homes. The multidisciplinary approach involves physicians, nurses, social workers, and counselors collaborating to offer comprehensive support.
Hospice care, a subset of palliative care, is tailored for patients nearing the end of life, typically with a prognosis of six months or less. The emphasis is on comfort rather than curative treatment, ensuring patients spend their remaining time with dignity and minimal discomfort. Both care types aim to enhance life quality but differ in timing and patient eligibility.
Industry requirements in this sector are evolving, with a pressing need for increased funding and resources. Despite the National Health Policy's inclusion of palliative care, only about 4% of the estimated 10 million people needing such care in India receive it. This gap underscores the necessity for substantial investment to meet the growing demand for end-of-life care services.
Workforce development is another critical area. The sector requires more healthcare professionals trained in palliative and hospice care to address the complex needs of patients. Initiatives like the Master of Science in Holistic Palliative Care (HoPE) program launched in Singapore aim to bolster national palliative care capabilities by equipping professionals with specialized skills.
Integration of services within national healthcare systems is vital for ensuring accessibility and affordability. Countries like Germany and France, where current healthcare spending is comparable to 12.8% and 12.2% of GDP respectively, have made strides in this area. However, disparities persist, and a concerted effort is needed to standardize care quality across regions.
Technological advancements also play a role in shaping the industry. The adoption of digital health solutions, such as telemedicine, enhances service delivery, particularly in remote areas. These technologies facilitate continuous patient monitoring and support, aligning with the broader trend of digital transformation in healthcare.
In conclusion, the European palliative care and hospice market is poised for significant expansion. Addressing industry requirements, including funding, workforce development, service integration, and technological adoption, is crucial for meeting the growing demand and ensuring patients receive compassionate and comprehensive care during their most vulnerable times.
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Amedisys.
AccentCare
Inc.
LHC Group
Crossroads Hospice
Traditions Health
LLC.
PruittHealth
Oklahoma Palliative & Hospice Care
VITAS Healthcare
Dierksen Hospice
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Palliative Care and Hospice Market
Inpatient Care
Outpatient Care
Home Care
Hospitals
Home Healthcare Agencies
Nursing Homes
Specialized Palliative Care Centers
Others
Hospital-based Care
In-home Care
Outpatient Care
Long-term Care Facilities
Cancer
Cardiovascular Diseases
Chronic Respiratory Diseases
Neurodegenerative Diseases
Others
Hospice Providers
Palliative Care Providers
Patients and Families
Healthcare Professionals
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe Palliative Care and Hospice Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Palliative Care and Hospice Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Palliative Care and Hospice Market, By Type
6. Europe Palliative Care and Hospice Market, By Application
7. Europe Palliative Care and Hospice Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Palliative Care and Hospice Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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