The global hospice services market is anticipated to grow at a CAGR of 9.1% during the forecast period (2023-2030). Electronic Health Records (EHRs) are digital systems used to store and manage patient records. They enable healthcare providers to access patient information and ensure continuity of care. Telehealth and telemedicine technologies enable healthcare professionals to conduct virtual consultations and monitor patients remotely, which is beneficial for those receiving home-based hospice care. Medication management systems are used by hospice providers to ensure patients receive the right medications at the correct times. Communication tools allow hospice teams to collaborate effectively and communicate with patients and their families. Mobile Health (mHealth) Apps are used by patients to monitor symptoms, communicate with their care team, and access educational resources. Patient Portal Systems allow patients and their families to access healthcare information, communicate with the care team, and schedule appointments online.
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Furthermore, the market’s growth is attributed to preference for home-based care across the globe. Patients and their families have grown to prefer receiving care in the convenience of their own homes. Hospice care provided in the patient's home improves their emotional and mental health since it maintains them in familiar surroundings. For instance, in July 2023, Kaiser Permanente launched new home-based hospice service. It offers hospice care to those with severe diseases, improving their quality of life and offering consoling and sympathetic support to them and their families.
Furthermore, increasing demand for cost-effective healthcare services, coupled with an aging population, is driving the growth of palliative care integration. Additionally, the growing recognition of the importance of end-of-life care and the need to manage complex chronic conditions are driving the integration of palliative care. For instance, in June 2023, SCAN Group, developed a new palliative model to care for some of the Medicare advantage organization’s most vulnerable beneficiaries.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Services
o By Care Type
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Covenant Care California, LLC, Ensign Group, Inc., Extendicare, HCR Healthcare, LLC, and Knight Health Holdings, LLC, among others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Hospice Services Market Report Segment
By Services
- Nursing Services
- Medical Equipment and Supplies
- Counseling Services
- Short Term Inpatient Services
- Physician Services
- Others (Spiritual Care, and Bereavement Support)
By Care Type
- Acute Care
- Respite Care
By End-User
- Home Settings
- Hospitals
- Specialty Nursing Homes
- Hospice Care Centers
- others (Government & Regulatory Bodies, and Family Members & Caregivers)
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Global Hospice Services Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
· Covenant Care California, LLC
· Ensign Group, Inc.
· Extendicare
· HCR Healthcare, LLC
· Knight Health Holdings, LLC
· LHC Group
· Living Assistance Services
· National Association for Home Care & Hospice
· National Hospice & Palliative Care Organization’s (NHPCO)
· Oklahoma Palliative & Hospice Care
· PruittHealth, Inc.
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