Global Hospice Care Market
Healthcare Services

Latest Hospice Care Market Growth Study 2022-2026 By The Business Research Company

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The hospice care market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 10%, as per The Business Research Company’s market report!


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The Hospice Care Market Size In 2022 And Forecast
The global hospice care market is expected to grow from $3.35 billion in 2021 to $3.65 billion in 2022 at a compound annual growth rate (CAGR) of 8.87%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The hospice care market is expected to reach $5.47 billion in 2026 at a compound annual growth rate (CAGR) of 10.63%.


The hospice care market consists of sales of hospice care services by entities (organizations, sole traders, and partnerships) that are primarily used for providing care services at a point of a disease that cannot be cured or controlled by treatment.


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Rise In The Prevalence Of Chronic Diseases Is Driving The Growth Of The Hospice Care Market
For Instance, according to a research report published by American Action Forum in September 2020, chronic disease prevalence and costs are rising in the United States. They are expected to keep increasing as the disease prevalence among children and young adults rises. Chronic disease is a serious healthcare problem since the rising cost of chronic disease in the United States totals annually $3.7 trillion, which is around 19.6% of the country’s gross domestic product (GDP). Therefore, a rise in the prevalence of chronic diseases is expected to drive the growth of the hospice care market.


Competitive Landscape And The Regional Analysis Of The Hospice Care Market
Major players in the hospice care market are Covenant Care, National Association for Home Care and Hospice, Kindred at Home, PruittHealth, Dierksen Hospice, National Hospice and Palliative Care Organization, Oklahoma Palliative and Hospice Care, Benton Hospice Services, Alzheimer’s Association, New Hampshire Hospice and Palliative Care Organization, VITAS Healthcare, LHC Group Inc, Amedisys, Gentiva Health Services, Samaritan Health Services, Brookdale Senior Living Inc and Seasons Hospice.


Additionally, as per TBRC’s research – North America was the largest region in the hospice care market in 2021 holding the largest market share.


The Hospice Care Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the hospice care market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the hospice care market.


New Technology Penetration – A Key Trend In The Hospice Care Market
Major companies operating in the market are introducing new technological innovations such as using new machine learning tools to identify patients who need their services earlier in their illness and ensure that patients receive the appropriate level of home care as their illness progresses.


Hospice Care Market Segmentation By The Business Research Company

1) By Type: Nursing Services, Medical Supply Services, Physician Services, Other Type Of Services

2) By Application: Home Settings, Hospitals, Specialty Nursing Homes, Hospice Care Centres


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