End of Life Planning Market Set to Reach $45.17 Billion by 2030 with Soaring Demand for Advanced Healthcare Directives and Estate Planning Services

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Mar 19, 2024, 06:45 ET

DUBLIN, March 19, 2024 /PRNewswire/ -- The "End of Life Planning Market Size, Share & Trends Analysis Report By Type, By Service (Funeral Services, Estate Planning, Digital Legacy Services, Grief Counseling and Support), By Area, By Demographic, By Region, And Segment Forecasts, 2024 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global end of life planning market is seeing an unprecedented surge, projected to attain a market size of USD 45.17 billion by the year 2030. According to the latest analysis, this market is poised for a compound annual growth rate (CAGR) of 6.52% from 2024 to 2030 – reflecting the increasing prioritization of end-of-life matters amongst the populace.

The significant growth trajectory is bolstered by the burgeoning awareness about the cruciality of end-of-life planning, complemented by the integration of digitalization and technology into the sector. An emphasis on creating digital legacies, fulfilling funeral services, estate planning specifications, and grief counseling is fueling market expansion.

Service Offerings Tailored to Client Desires Spur Market Growth

Distinctive service offerings are now integral, with providers keenly addressing unique client preferences ranging from customary cultural practices to individual religious observances. This personalized approach ensures respect and fidelity to the wishes of clients while mitigating future financial burdens for loved ones.

Market Expansion Influenced by Elderly Demographics

With the rise in the geriatric population, the demand for end-of-life planning services has surged. Older individuals, more inclined toward contemplating their legacy and mortality, are expressing a growing need for services to manage their estate, healthcare, and funeral preferences.

Key Market Segmentation Insights

The estate planning segment is maintaining its lead with a revenue share of 28.74% in 2023, driven by the complex legalities that often necessitate specialized legal advice.
Advanced healthcare directives are anticipated to exhibit the fastest growth during the forecasted period, signifying an upward trend in awareness regarding pre-planning for medical care.
Urban areas continue to dominate market revenue share due to more accessible service varieties, legal advice, financial planning, and healthcare provision.
Conversely, the rural sector is on track for rapid growth, owing to increasing awareness and service penetration.
The elderly population forms the backbone of market demand, accounting for a significant revenue share of 73.89% in 2023.
North America reigns as the leading market region, with a substantial revenue share of 35.76% in 2023, attributed to its established infrastructure supporting end-of-life planning.

Companies Mentioned

Everplans
Cake
TrustandWill
Funeralocity
Eterneva
Gathered Here Pvt Ltd.
Sue Mackey
Dignity
Service Corporation International (SCI)
Death with Dignity

For more information about this report visit https://www.researchandmarkets.com/r/fwgxgh

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SOURCE Research and Markets