The global hospice market is anticipated to reach USD xx million by 2020 growing at a CAGR of 9.4% during the forecasting period, 2020-2028. Hospice is referred to as a place for providing end-of-life care to patients. The goal is for enabling patients to be comfortable and free of pain. Hospice care is generally home-based but these services can be provided in freestanding facilities, in nursing homes, or within hospitals.
As a substitution for curative treatment at the end of life, hospice is becoming more and more popular. The ageing of the population, trends in patient preferences toward non-acute care, and hospice's value offer of cost savings will all contribute to the industry's growth.
Over the course of the forecast period, the market is likely to develop due to the rising demand for high-quality healthcare services provided at home and rising Medicare hospice reimbursement rates. The advantages of hospice services include professional and family comfort care, less financial burden or out-of-pocket costs, thorough care plans, and family counselling.
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The market is expected to develop as a result of the ageing population and the rising prevalence of chronic diseases and age-related illnesses. Hospice and palliative care are in demand more than ever because they reduce hospitalizations among the elderly, focus on the body, mind, and spirit, manage pain and symptoms, and help patients and families understand treatment plans.
The expansion of the market is accelerated by the rise in the number of privately funded, publicly supported organisations offering hospice care services, as well as government attempts to support these service providers financially.
The global hospice market is segmented into therapy, treatment, application, end-user, and geography.
The therapy segment is sub-segmented into image-guided tumor therapies, RFA- radiofrequency ablation, and microwave ablation, cryoablation, and radiotherapy. Image-Guided Tumor Therapies segment is subsegment into a category that includes ablative therapies, transcatheter therapies. The transcatheter therapies segment is sub-segmented into devices that include tace-transarterial chemoembolization. Tace-transarterial chemoembolization segment is sub-segmented into devices guidewires, introducers, catheters, microcatheters, microspheres, sirt-selective internal radiation therapy. The sirt-selective internal radiation therapy segment is sub-segmented into therapies namely the Radiotherapy segment is sub-segmented into internal beam radiotherapy, external beam radiotherapy, and systemic radiotherapy.
The treatment segment is sub-segmented into thermal ablation treatment, embolization microspheres, trans-arterial embolization, and others. Embolization microspheres segment is sub-segmented into agents namely doxorubicin, irinotecan, idarubicin, and epirubicin.
The application segment is sub-segmented into kidney cancer, lung cancer, liver cancer, bone metastasis, prostate cancer, and others.
The end-user segment is sub-segmented into hospitals, surgical and ablation centers, research and academic institutes, and others.
Geographically, the global hospice market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions
In the United States, the Medicare hospice benefit makes up the majority of funding for hospice care, covering around 90% of costs. Patients who qualify for the Medicare coverage are given hospice treatment at no cost. The degree of care required and the patient's acuity affect Medicare reimbursement rates.
North America region is the largest contributor to the hospice market in the forecast period 2020-2028 and the Asia-Pacific region is expected to grow with the highest CAGR during the forecast period 2020-2028.
Key players in the global hospice market are Kindred Healthcare, National Hospice and Palliative Care Organization, Alzheimer’s Association, Benton Hospice Services, Oklahoma Hospice Care, New Hampshire Hospice and Palliative Care Organization, Dierksen Hospice, Covenant Care, Chatham-Kent Hospice, PruittHealth, Fairview Health Services and among others
The companies have come up with various promotional activities in from of launch, investment, acquisition, and other, for instance:
Hence, tremendous progress has been made over the last decade and yet a lot more to come in recent years.
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Report Feature |
Descriptions |
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Market Revenue In 2020 |
USD XX million |
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Growth Rate |
CAGR of XX.X% during the forecasting period, 2020-2028 |
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Historical Data |
2017-2018 |
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Forecast Years |
2020-2028 |
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Base Year |
2019 |
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Units Considered |
Revenue in USD million and CAGR from 2020 to 2028 |
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Report Segmentation |
Therapy, Treatment, Application, End-User and Geography |
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Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
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Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and the Middle East and Africa |
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Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
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Companies Profiled |
Kindred Healthcare, National Hospice and Palliative Care Organization, Alzheimer’s Association, Benton Hospice Services, Oklahoma Hospice Care, New Hampshire Hospice and Palliative Care Organization, Dierksen Hospice, Covenant Care, Chatham-Kent Hospice, PruittHealth, Fairview Health Services, and among others |
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Available Customization |
In addition to the market data for the hospice market, Delvens. offers client-centric reports and customized according to the company’s specific demand and requirement. |
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