(MENAFN- EIN Presswire) Palliative Care Market
Palliative care market size was valued at $11,200 million in 2020, and is projected to reach $25,309 million by 2030, registering a CAGR of 8.4% 2021 to 2030.
PORTLAND, OREGON, UNITED STATES, March 20, 2023 /einpresswire.com / --
palliative care is a specialized medical care approach that focuses on improving the quality of life for patients who are suffering from a serious or life-threatening illness, regardless of their age, stage of illness, or prognosis. The goal of palliative care is to provide relief from the symptoms, pain, and stress of a serious illness, while also addressing the emotional, spiritual, and social needs of the patient and their family.
Some of the services that palliative care may provide include pain management, symptom control, emotional and spiritual support, counseling, and assistance with advance care planning. The goal of palliative care is to help patients and their families achieve the best possible quality of life, even in the face of a serious illness.
The global palliative care market size was valued at $11,200 million in 2020, and is projected to reach $25,309 million by 2030, registering a CAGR of 8.4% from 2021 to 2030.
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.CAGR: 8.4%
. Current Market Size: USD 25.3 Billion
. Forecast Growing Region: APAC
. Largest Market: North America
. Projection Time: 2021- 2030
. Base Year: 2021
Top Impacting Factors of Palliative Care Market
There are several factors that can impact the palliative care market, including:
Rising Prevalence of Chronic Diseases: Chronic diseases such as cancer, cardiovascular diseases, neurological disorders, and respiratory diseases are becoming increasingly prevalent worldwide. Palliative care is an essential component of the management of these diseases, which is driving the growth of the market.
Growing Awareness of Palliative Care: The awareness of palliative care services is increasing among healthcare professionals and patients, which is driving the growth of the market. The healthcare industry is focusing on educating patients and their families about the benefits of palliative care, which is increasing the demand for these services.
Increasing Government Initiatives: Governments across the world are taking initiatives to promote palliative care services. For example, in the US, the Centers for Medicare and Medicaid Services (CMS) has introduced policies to improve access to palliative care services, which is expected to drive the growth of the market.
Technological Advancements: Technological advancements are enabling the development of more effective palliative care treatments and services. For example, the use of telemedicine is making it easier for patients to access palliative care services from their homes, which is increasing the demand for these services.
Lack of Skilled Professionals: Despite the growing demand for palliative care services, there is a shortage of skilled professionals in this field. This is creating a challenge for the growth of the market, as healthcare organizations struggle to recruit and retain qualified professionals.
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Palliative Care Market Key Players-
Here are some key players in the Palliative Care Market up until that point:
Amedisys, Inc.,
Chemed Corporation (Vitas Healthcare),
Fillmore Capital Partners,
LLC (Golden Living Centers/GGNSC Holdings LLC),
Genesis HealthCare (Skilled Healthcare Group Inc.),
Home Instead, Inc.,
Kindred Healthcare, LLC (Gentiva Health Services Inc.),
Public Sector Pension Investment Board (Sunrise Senior Living Centers),
Senior Care Centers of America, Inc,
Seymour Health,
and UCLA Health.
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