The Global Hospice Care Services Market Size showed crucial growth in the recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ xx.xx million/billion over the forecast period. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 8.21% during the forecast period, i.e. 2017-2025. The hospice care services market is anticipated to be dominated by North America followed by Europe and Asia Pacific.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

Hospice care is a service which supports and provides care to people during their end phases of life and also to people facing life-limiting illness. The hospice care services market is expected to grow as they provide high end care and support to patients suffering life-limiting sickness such as cancer, people suffering from trauma, shocks and life-threatening accidents, others. Hospice services provide pain management, medical care, emotional support, and spiritual support which contoured according to the patient’s wishes and needs. Hospice care also involves supporting the patient’s family and relatives by providing mental and spiritual support in various outlets such as nursing homes, hospitals, freestanding hospice centers, and others. Some of the companies that provide hospice care and medications are Amedisys Inc., Fairmont Rehabilitation Center, LLC, Odyssey HealthCare Inc., Sunrise Senior Living, Inc., and others.

Market Dynamic

The hospice care services market is expected to propel during the forecast period as they are more patient oriented then technique, the support system is craved according to the need of the patient. In most of these centers, they include both family members and team of individuals which may include hospice physician, patient’s personal physician, nurses, social workers, spiritual counselors, bereavement counselors, occupational therapists and others. These teams or centers provide care towards pain, stress, and other symptoms to facilitate comfort to the patients. Owing to these factors the hospice care services market is expected to impel during the forecast period (2018 – 2025).

Segment Analysis

The hospice care services market is growing rapidly due to increasing number of aging populaces across the globe coupled with reimbursement from Medicare and Medicaid, which helps the patient’s family to take care of the healthcare expenditures. According to the National Hospice and Palliative Care Organization (NHPCO) in 2015, more than 62% of the hospice care were assigned to personal aging over 75 years in the United States. Furthermore, in 2010, according to the Centers for Disease Control and Prevention (CDC), 13% of the total population (40 million people) in U.S. were aging 65 or above, which is expected to increase 7 to 8% by 2030.

The hospice care services market is expected to grow owing to the increase in aging populace, sustained federal reimbursements, and infrastructure expansion. Companies such as Chemed Corporation, Five Star Quality Care, Inc., Gentiva Health Services, Inc., and others are strategizing towards the conversion of expenditures into profits, which in turn is expected to boost the revenue margins of the hospice care services market in the forecast period. In 2016, according to the National Hospice and Palliative Care organization (NHPCO), about 1.8 to 2.1 million patients were provided with services from hospice care center. However, home hospice care and services are mostly less expensive than others such as nursing homes, hospitals, institutions, and others due to its cost which is incurred by additional staff and equipment which could be outwitted at home.

Regional Analysis

The global hospice care services market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players.  The hospice care services market is anticipated to be dominated by North America followed by Europe and Asia Pacific. North America is expected to dominate the market with its growing Medicare and Medicaid services coupled with the Department of Veterans Affairs, which takes up most of the medical expenses incurred during hospice services. Others organizations involve the health maintenance organizations (HMOs), private insurance plan, and other care homes and organizations that provide for the expenses involved with hospice care with policies and plans, coupled with free services for patients under the poverty line. According to the American Board of Medical Specialties, by 2030, 11.6% of the population in U.S. will be aged 65 or above, which is in turn expected to boost the hospice care services market during the forecast period. The hospice care sector is however regulated differently in various countries, for instance, France, Russia, and the Dutch Government don’t recognize hospice care as a medical specialty.

Global Hospice Care Services Market Size, Share Analysis By Region 2017

Global Hospice Care Services Market Study Objective

1. To forecast the market size of hospice care services market, along with describing and defining the market, in terms of volume and revenue.

2. Market analysis and forecast of hospice care services market on the basis of region, substrate and application or end-use industry.

3. To analyze and elaborate significant factors that will have major impact on the growth of hospice care services market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of hospice care services market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the hospice care services market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

7. Analysis of market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

8. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

Bottom-up and top-down are two main approaches that were taken into account to anticipate and validate the market size of hospice care services market, and to reach the anticipated market size of several dependent submarkets. The research and study involved massive utilization of secondary data sources, several directories, private and government websites, and authentic databases, to collect or gather market-oriented as well as technical information for the study of hospice care services market commercially.

Key Players Landscape

Various mergers and acquisitions in the field of hospice care services sector is expected to boost the market during the forecast period. For instance, in 2009, Amedisys, Inc. acquired Hospice agencies in Mississippi, such as Winyah Community Hospice Care, Allcare Hospice, and others to expand its grip over the hospice care services market.  Major players for hospice care services market include Vitas Healthcare Corporation, Sunrise Senior Living, LLC, Amedisys Inc., Fairmont Rehabilitation Center, LLC, Odyssey HealthCare Inc., Gentiva Health Services Incorporated, Skilled Healthcare Group Incorporated, Senior Care Centers of America, GGNSC Holdings LLC, and Genesis HealthCare Corporation among others.

Global Hospice Care Services Market Study Report Offer You!

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