Hospice & Palliative Care Centers Market Infrastructure Growth and Development by 2026

Hospice & Palliative Care Centers Market
Infrastructure Growth and Development by 2026
Hospice & Palliative Care Centers Market - Global Industry Insights, Trends,
Outlook, and Opportunity Analysis, 2018-2026
Hospices & palliative care is a type of care that offers support and care for patients during their last
phase of life. It focuses on critically ill patient's pain and symptoms, and attending to their spiritual and
emotional needs, with an approach to improve the life of patients and their families associated with
life-threatening illness. Hospice care can be offered by autonomous hospices or through programs
based in nursing homes, health care organization, outpatient clinics and hospitals. It can also be offered
in the nursing home, patient’s home, a hospital, or private hospice facility. Home hospice care is
usually less expensive than that provided in hospitals, nursing homes, or other institutional settings as
the cost of additional staff and highly equipped facilities is circumvented when at home. Moreover,
patients prefer hospice care as the patient desires to spend the rest of life with loved ones at home.
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Due to an aging U.S. population, and sustained federal reimbursement, the growth of hospice and
palliative care sector is increasing rapidly. Companies are also following marketing strategies for
converting their companies into profit making organizations.
The global hospice & palliative care centers market is segmented on the basis of service type. Type of
hospices & palliative care services includes Institutional care , nursing care, physician services, trained
volunteer support, social services, spiritual support and counseling, home health aides, physical, and
occupational, speech therapies, inpatient care, respite care, bereavement support and adult day care
services. Based on the location, the hospice and palliative care centers market is analyzed for patient’s
residence, hospice inpatient facility and acute care hospital.
According to the National Hospice and Palliative Care organization (NHPCO), in 2014 approximately
1.6 to 1.7 million patients received services from hospice care centers. Nearly 60% of the hospice care
in 2014 was provided at patient’s residence.
Aging population will be the major driving factor
The hospice & palliative care centers market is driven by various factors including:
•Reimbursement from Medicaid and Medicare
•Aging population
•Increasing healthcare expenditure and a common drift toward end-of-life care
According to the Centers for Disease Control and Prevention (CDC), there were 40 million people
(13% of the total population) aged 65 and above in the United States in 2010. This is projected to reach
around 20% of the population of the U.S. by 2030. Furthermore, the NHPCO reports that in 2014, more
than 60% of the hospice care was for the people aged 75 years and above in the U.S.
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Major Players in the Global Hospice and Palliative Care Centers Market
Some of the key global participants present in the hospice & palliative care centers 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, Skilled Healthcare Group Incorporated, Genesis HealthCare
Corporation, Senior Care Centers of America, and GGNSC Holdings LLC.
Demand still high in the Developed Markets
Geographically, the hospice & palliative care centers market is segmented into North America, Europe,
Asia Pacific, Latin America and Rest of the World. Hospice and palliative care centers are now
recognized as a medical subspecialty by the American Board of Medical Specialties, as well as in
Australia, Canada, England, New Zealand, and Ireland. Many European countries are also in the
process of developing certification for palliative care. Most private health insurance companies include
hospice care as a benefit. Some hospices are able to provide services without charge if a patient has
limited or no financial resources. Hospice care expenses in U.S. are mostly paid by the Medicare and
Medicaid services and the Department of Veterans Affairs.
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Hospices & palliative care is a type of care that offers support and care for patients during their last phase of life. It focuses on critically ill patient's pain and symptoms, and attending to their spiritual and emotional needs, with an approach to improve the life of patients and their families associated with life-threatening illness.

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