Hospice market size to grow by USD 89.07 billion between 2022 and 2027; Nursing services segment to account for maximum growth - Technavio

NEW YORK, March 31, 2023 /PRNewswire/ -- The hospice market is estimated to grow by USD 89.07 billion during 2022-2027. However, the growth momentum will progress at a CAGR of 4.11% during the forecast period. The market is segmented by service (nursing services, medical supply services, physician services, and other services), end-user (home settings, hospitals, specialty nursing homes, and hospice care centers), and geography (North America, Europe, Asia, and Rest of World (ROW)). To learn more about the professional skincare market, request a sample report

The nursing services segment will account for a significant share of the market growth during the forecast period. Nursing services are available at nursing homes, hospice centers, and home hospice care. These services can be provided by a Certified Hospice and Palliative Licensed Nurse (CHPLN). They focus on the medical and psychological care of terminally ill patients. 

The market is driven by the increasing geriatric population. The increasing prevalence of diseases in the aging population is one of the major factors driving the growth of the global market. East and Southeast Asia have the world's largest elderly population, with 260 million people in the 65+ age group. These regions are followed by Europe and North America, with over 200 million people in this age group. Hence, the increasing geriatric population across the globe will increase the incidence of diseases, which will drive the global market during the forecast period. 

Hospice Market Insights -

• Vendors: 15+, Including AccentCare Inc., Amedisys Inc., Brookdale Senior Living Inc., Caritas Internationalis, Chemed Corp., COVENANT HEALTH AND COMMUNITY SERVICES INC., Crossroads Hospice and Palliative Care, Dierksen Hospice, FC Compassus LLC, Golden Living Centers, Intrepid USA Healthcare Services, LHC GROUP Inc., LifePoint Health Inc., National Association for Home Care and Hospice, Oklahoma Palliative and Hospice Care, PeaceHealth, ProMedica Health Systems Inc., PruittHealth Corp., Samaritan Health Services, The Ensign Group Inc., among others
• Coverage: parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors

Global Hospice market - Vendor Insights

The global hospice market is fragmented. The competitive landscape of the market is expected to intensify due to the increase in service extensions, the availability of new services, and new applications of integrated service offerings. Moreover, the key market players compete on service, quality, pricing, and service differentiation. Some of the key vendors covered in the report include:

• AccentCare Inc.: The company offers hospice services by providing comfort and symptom management during the end of life.
• Amedisys Inc.: The company offers hospice services that provide quality of life for patients with life-limiting illnesses.
• Brookdale Senior Living Inc.: The company offers hospice services that can be provided in any place, including nursing homes and assisted living facilities.
• Crossroads Hospice and Palliative Care: The company offers hospice services by helping patients use emotional and spiritual therapy.

Global Hospice Market – Market Dynamics

Major Trends - 

• Increased incidence of life-threatening diseases
• Increasing healthcare spending worldwide
• Expansion and growth of several healthcare domains

The CDC defines lifestyle diseases as illnesses caused by unhealthy habits such as smoking, drinking, and lack of exercise. The most common lifestyle diseases include stroke, heart attack, obesity, diabetes, hypertension, and cirrhosis. However, with proper treatment and medical care, these diseases can be cured or made less severe. Moreover, the increase in the prevalence of lifestyle diseases drives admission rates in healthcare facilities. To meet the high demand for healthcare facilities, manufacturers and suppliers are introducing advanced products and increasing market penetration through efficient distribution networks. All these factors will drive the growth of the market during the forecast period. 

Key challenges - 

• Lack of skilled nursing staff
• High cost of healthcare
• Increasing cases of fraudulent home healthcare services

Prospective employees, such as medical students, prefer to pursue medical specialties outside of primary care for better monetary benefits. Medical professionals such as nurses and physician assistants play an important role in the care of hospice center residents. However, the lack of skilled staff can discourage prospective new residents, thereby reducing the market's revenue. Therefore, such factors will negatively impact the market growth during the forecast period. 

Drivers, trends, and challenges have an impact on market dynamics, which can impact
businesses. Find some insights from a sample report!

The hospice market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

Why Buy?

• Add credibility to strategy
• Analyzes competitor's offerings 
• Get a holistic view of the market

Grow your profit margin with Technavio - Buy the Report

What are the key data covered in this Hospice Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the hospice market between 2023 and 2027
• Precise estimation of the hospice market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the hospice market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of hospice market vendors

Gain instant access to 17,000+ market research reports. 

Technavio's SUBSCRIPTION platform

Related Reports: 

• The home healthcare services market is estimated to grow at a CAGR of 10.83% between 2021 and 2026. The size of the market is forecast to increase by USD 56.83 billion. The rising geriatric population is notably driving the home healthcare services market growth, although factors such as limited availability of skilled workforce may impede market growth.
• The healthcare facilities management market size is expected to increase by USD 68.46 billion from 2021 to 2026. The increasing demand for cloud-based healthcare facility management solutions is notably driving the healthcare facilities management market growth, although factors such as the fragmented nature of the market may impede the market growth.

Browse through Technavio's Consumer Staples Market Reports

Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Service
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global hospice market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global hospice market 2017 - 2021 ($ billion)

• 4.2 Service Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Service Segment 2017 - 2021 ($ billion)

• 4.3 End-user Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Service

• 6.1 Market segments
• Exhibit 30: Chart on Service - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Service - Market share 2022-2027 (%)

• 6.2 Comparison by Service 
• Exhibit 32: Chart on Comparison by Service
• Exhibit 33: Data Table on Comparison by Service

• 6.3 Nursing services - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Nursing services - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Nursing services - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Nursing services - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Nursing services - Year-over-year growth 2022-2027 (%)

• 6.4 Medical supply services - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Medical supply services - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Medical supply services - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Medical supply services - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Medical supply services - Year-over-year growth 2022-2027 (%)

• 6.5 Physician services - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Physician services - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Physician services - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Physician services - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Physician services - Year-over-year growth 2022-2027 (%)

• 6.6 Other services - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Other services - Market size and forecast 2022-2027 ($ billion)
• Exhibit 47: Data Table on Other services - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Chart on Other services - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Other services - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Service 
• Exhibit 50: Market opportunity by Service ($ billion)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 51: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 52: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 53: Chart on Comparison by End-user
• Exhibit 54: Data Table on Comparison by End-user

• 7.3 Home settings - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Home settings - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Home settings - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Home settings - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Home settings - Year-over-year growth 2022-2027 (%)

• 7.4 Hospitals - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Hospitals - Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Data Table on Hospitals - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Chart on Hospitals - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Hospitals - Year-over-year growth 2022-2027 (%)

• 7.5 Specialty nursing homes - Market size and forecast 2022-2027 
• Exhibit 63: Chart on Specialty nursing homes - Market size and forecast 2022-2027 ($ billion)
• Exhibit 64: Data Table on Specialty nursing homes - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Chart on Specialty nursing homes - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Specialty nursing homes - Year-over-year growth 2022-2027 (%)

• 7.6 Hospice care centers - Market size and forecast 2022-2027 
• Exhibit 67: Chart on Hospice care centers - Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Data Table on Hospice care centers - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Chart on Hospice care centers - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Hospice care centers - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by End-user 
• Exhibit 71: Market opportunity by End-user ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 72: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 73: Chart on Market share by geography 2022-2027 (%)
• Exhibit 74: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 75: Chart on Geographic comparison
• Exhibit 76: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 Asia - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Asia - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on Asia - Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on Asia - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Asia - Year-over-year growth 2022-2027 (%)

• 9.6 Rest of World (ROW) - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)

• 9.7 US - Market size and forecast 2022-2027 
• Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 UK - Market size and forecast 2022-2027 
• Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.10 Canada - Market size and forecast 2022-2027 
• Exhibit 105: Chart on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 106: Data Table on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 107: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027 
• Exhibit 109: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 110: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 111: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 Market opportunity by geography 
• Exhibit 113: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 114: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 115: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 116: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 117: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 118: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 119: Matrix on vendor position and classification

• 12.3 AccentCare Inc.
• Exhibit 120: AccentCare Inc. - Overview
• Exhibit 121: AccentCare Inc. - Product / Service
• Exhibit 122: AccentCare Inc. - Key offerings

• 12.4 Amedisys Inc.
• Exhibit 123: Amedisys Inc. - Overview
• Exhibit 124: Amedisys Inc. - Business segments
• Exhibit 125: Amedisys Inc. - Key offerings
• Exhibit 126: Amedisys Inc. - Segment focus

• 12.5 Brookdale Senior Living Inc. 
• Exhibit 127: Brookdale Senior Living Inc. - Overview
• Exhibit 128: Brookdale Senior Living Inc. - Business segments
• Exhibit 129: Brookdale Senior Living Inc. - Key offerings
• Exhibit 130: Brookdale Senior Living Inc. - Segment focus

• 12.6 COVENANT HEALTH AND COMMUNITY SERVICES INC. 
• Exhibit 131: COVENANT HEALTH AND COMMUNITY SERVICES INC. - Overview
• Exhibit 132: COVENANT HEALTH AND COMMUNITY SERVICES INC. - Product / Service
• Exhibit 133: COVENANT HEALTH AND COMMUNITY SERVICES INC. - Key offerings

• 12.7 Crossroads Hospice and Palliative Care 
• Exhibit 134: Crossroads Hospice and Palliative Care - Overview
• Exhibit 135: Crossroads Hospice and Palliative Care - Product / Service
• Exhibit 136: Crossroads Hospice and Palliative Care - Key offerings

• 12.8 Dierksen Hospice
• Exhibit 137: Dierksen Hospice - Overview
• Exhibit 138: Dierksen Hospice - Product / Service
• Exhibit 139: Dierksen Hospice - Key offerings

• 12.9 Golden Living Centers 
• Exhibit 140: Golden Living Centers - Overview
• Exhibit 141: Golden Living Centers - Product / Service
• Exhibit 142: Golden Living Centers - Key offerings

• 12.10 LHC GROUP Inc.
• Exhibit 143: LHC GROUP Inc. - Overview
• Exhibit 144: LHC GROUP Inc. - Business segments
• Exhibit 145: LHC GROUP Inc. - Key offerings
• Exhibit 146: LHC GROUP Inc. - Segment focus

• 12.11 LifePoint Health Inc. 
• Exhibit 147: LifePoint Health Inc. - Overview
• Exhibit 148: LifePoint Health Inc. - Product / Service
• Exhibit 149: LifePoint Health Inc. - Key offerings

• 12.12 National Association for Home Care and Hospice 
• Exhibit 150: National Association for Home Care and Hospice - Overview
• Exhibit 151: National Association for Home Care and Hospice - Product / Service
• Exhibit 152: National Association for Home Care and Hospice - Key offerings

• 12.13 Oklahoma Palliative and Hospice Care 
• Exhibit 153: Oklahoma Palliative and Hospice Care - Overview
• Exhibit 154: Oklahoma Palliative and Hospice Care - Product / Service
• Exhibit 155: Oklahoma Palliative and Hospice Care - Key offerings

• 12.14 ProMedica Health Systems Inc. 
• Exhibit 156: ProMedica Health Systems Inc. - Overview
• Exhibit 157: ProMedica Health Systems Inc. - Product / Service
• Exhibit 158: ProMedica Health Systems Inc. - Key offerings

• 12.15 PruittHealth Corp.
• Exhibit 159: PruittHealth Corp. - Overview
• Exhibit 160: PruittHealth Corp. - Product / Service
• Exhibit 161: PruittHealth Corp. - Key offerings

• 12.16 Samaritan Health Services 
• Exhibit 162: Samaritan Health Services - Overview
• Exhibit 163: Samaritan Health Services - Product / Service
• Exhibit 164: Samaritan Health Services - Key offerings

• 12.17 The Ensign Group Inc. 
• Exhibit 165: The Ensign Group Inc. - Overview
• Exhibit 166: The Ensign Group Inc. - Business segments
• Exhibit 167: The Ensign Group Inc. - Key offerings
• Exhibit 168: The Ensign Group Inc. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 169: Inclusions checklist
• Exhibit 170: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 171: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 172: Research methodology
• Exhibit 173: Validation techniques employed for market sizing
• Exhibit 174: Information sources

• 13.5 List of abbreviations 
• Exhibit 175: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED