Palliative Care Market Estimated to Reach USD 23.34 Billion by 2032 | SNS Insider

Rising Prevalence of Chronic Diseases and Aging Population Drive Market Growth

AUSTIN, TX, UNITED STATES, March 3, 2025 /EINPresswire.com/ -- According to Research by SNS Insider, The Palliative Care Market was valued at USD 10.7 billion in 2023 and is projected to reach USD 23.34 billion by 2032, growing at a CAGR of 9.06% during the forecast period of 2024-2032. The global palliative care market is witnessing significant growth, driven by the rising demand for quality end-of-life care. Palliative care focuses on providing relief from the symptoms and stress of serious illnesses.

Market analysis
The palliative care market is primarily driven by the rising prevalence of chronic diseases like cancer, cardiovascular diseases, and respiratory disorders. Chronic diseases responsible for almost 71% of deaths worldwide, according to the World Health Organization (WHO). As a result, there is a growing demand for palliative care services to enhance the quality of life for patients with these diseases. Another defining trend is the aging population. The U.N. estimates that 2.1 billion people will be 60 or older worldwide by 2050. As a growing population, and due to their susceptibility to chronic illness, older adults often require specialized care, thus making palliative care a component of healthcare services for older adults.

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Palliative care is also increasingly recognized as an essential service by governments and healthcare organizations. Other drivers include recent initiatives such as the incorporation of palliative care into national health policies and the expansion of reimbursement schemes, all of which support market expansion. For instance, in 2023, the U.S. government announced increased funding for palliative care programs under the Medicare and Medicaid systems, aiming to improve access to these services for underserved populations.

Key Players in Palliative Care Market
• Adventist Health
• Baptist Health
• Genesis HealthCare System
• Gentiva Health Services
• Amedisys
• VITAS Healthcare
• Teresa Dellar Palliative Care Residence
• Fonthill Care
• Drakenstein Palliative Hospice
• HammondCare
• Banksia Palliative Care Service Inc.
• Alpha Palliative Care and Others

Market Segmentation Insights

By Condition
The cancer segment held the largest share in 2023, contributing to 36.9% of palliative care market revenue. Palliative care is an essential part of a cancer patient's treatment plan, as cancer causes pain, fatigue, emotional distress, and many other symptoms. Palliative cancer treatment includes managing the symptoms, psychological support, and enhancing the quality of life. With the rising incidence of cancer globally estimated at 19.3 million new cases in 2020 by the International Agency for Research on Cancer (IARC) the demand for palliative care in this segment is expected to grow significantly.

By Diagnostic Group
The Non-Communicable Diseases (NCD) segment accounted for the largest revenue share of 68.0% in 2023. NCDs, such as cardiovascular diseases, diabetes and chronic respiratory diseases, are the number one cause of death globally. Management of symptoms such as pain, breathlessness, depression, and emotional/spiritual support to patient & patient´s family is the aim of palliative care for NCDs. The growing burden of NCDs Especially in low- and middle-income countries is driving the adoption of palliative care services.

By Provider
The home-based care segment accounted for the largest market share of 44.6% in 2023. Home-based palliative care allows patients to receive personalized care in the comfort of their homes, reducing the need for hospitalization. This model is particularly beneficial for elderly patients and those with advanced illnesses who prefer to spend their remaining time at home. Accelerated the adoption of home-based care, as patients sought to avoid hospital visits due to infection risks.

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Regional Analysis

In 2023, Europe held 36.5% of the total global palliative care market share. Its leading position has been made possible by the region's well-established healthcare infrastructure and high awareness of palliative care supported by government policies. Countries such as the UK, Germany and France have strong palliative care systems in place with integrated service delivery across cancer and non-cancer patients. In 2023, the European Union introduced new guidelines to standardize palliative care practices across member states, further propelling market growth. Another important region for palliative care is North America, which is gradually being driven by the high prevalence of chronic diseases and well-established healthcare systems. Investments in palliative care research as well as training programs are rapidly growing around the world, with the U.S. being a leading player in market share for the region. In 2023, the U.S. government allocated USD 50 million towards expanding palliative care services in rural areas to address the existing disparities in access to care.

The Asia-Pacific is estimated to be the fastest-growing region in the palliative care market throughout the forecast period due to the increasing prevalence of chronic diseases, rising healthcare expenditure, and growing awareness regarding palliative care in that region. Countries such as China and India are making substantial investments in healthcare infrastructure and palliative care training initiatives. In 2023, India also introduced the National Palliative Care Strategy, this strategy serves to integrate palliative care into primary healthcare services and improve access, particularly for the underserved populations.

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