PALLIATIVE CARE MARKET ANALYSIS

Palliative Care MarketSize and Trends

Palliative care market size is increasing in higher income countries such as European countries and Japan due to rising geriatric population suffering from chronic illness. Palliative care also includes equipment such as wheelchairs, walkers, crutches, oxygen equipment, blood pressure monitors, etc.

The palliative care market revenue is expected to witness significant growth over the forecast period, owing to increasing demand for palliative care centers by patients suffering from chronic illness. For instance, according to Center to Advance Palliative Care (CAPC), in North America, the prevalence of hospitals with a palliative care team increased from 658 to 1,831, which is around 178% increase from 2000 to 2016.

Increasing geriatric population suffering from chronic illness is contributing to the palliative care market size. Palliative care centers are widely involved in taking care of elderly patients affected with chronic illness.  According to National Council on Aging 2018 report, around 80% of older adults have at least one chronic disease and 77% have at least two chronic diseases such as heart disease, cancer, stroke, and diabetes.

Market Trends