Hospice & Palliative Care Centers Market

Hospice & Palliative Care
Centers Market -
GLOBAL INDUSTRY INSIGHTS, TRENDS,
OUTLOOK, AND OPPORTUNITY ANALYSIS,
2016-2025
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Hospice & Palliative Care Centers Market Overview :
Hospices & palliative care is a type of care that offers support and care for patients during their last phase of life. It focuses on
critically ill patient's pain and symptoms, and attending to their spiritual and emotional needs, with an approach to improve the life of
patients and their families associated with life-threatening illness. Hospice care can be offered by autonomous hospices or through
programs based in nursing homes, health care organization, outpatient clinics and hospitals. It can also be offered in the nursing
home, patient’s home, a hospital, or private hospice facility. Home hospice care is usually less expensive than that provided in
hospitals, nursing homes, or other institutional settings as the cost of additional staff and highly equipped facilities is circumvented
when at home. Moreover, patients prefer hospice care as the patient desires to spend the rest of life with loved ones at home.
Due to an aging U.S. population, and sustained federal reimbursement, the growth of hospice and palliative care sector is
increasing rapidly. Companies are also following marketing strategies for converting their companies into profit making
organizations.
The global hospice & palliative care centers market is segmented on the basis of service type. Type of hospices & palliative care
services includes Institutional care, nursing care, physician services, trained volunteer support, social services, spiritual support and
counseling, home health aides, physical, and occupational, speech therapies, inpatient care, respite care, bereavement support and
adult day care services. Based on the location, the hospice and palliative care centers market is analyzed for patient’s residence,
hospice inpatient facility and acute care hospital.
According to the National Hospice and Palliative Care organization (NHPCO), in 2014 approximately 1.6 to 1.7 million patients
received services from hospice care centers. Nearly 60% of the hospice care in 2014 was provided at patient’s residence.
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Demand still high in the Developed Markets
Geographically, the hospice & palliative care centers market is segmented into North America, Europe, Asia
Pacific, Latin America and Rest of the World. Hospice and palliative care centers are now recognized as a
medical subspecialty by the American Board of Medical Specialties, as well as in Australia, Canada, England,
New Zealand, and Ireland. Many European countries are also in the process of developing certification for
palliative care. Most private health insurance companies include hospice care as a benefit. Some hospices are
able to provide services without charge if a patient has limited or no financial resources. Hospice care
expenses in U.S. are mostly paid by the Medicare and Medicaid services and the Department of Veterans
Affairs. Additionally, most of the private insurance plans, health maintenance organizations (HMOs) and other
managed care organizations also provide the expenses for hospice care in their plans and policies which
further propel the demand for hospice and palliative care. Such hospice and palliative centers are also being
established in emerging nations such as India, Brazil, Indonesia, and China where there are affordability
issues, and inadequate healthcare accessibility. The hospice and palliative services market is therefore
establishing in these markets and will be in great demand with increasing awareness.
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Major Players in the Global Hospice and Palliative Care Centers Market
Some of the key global participants present in the hospice & palliative care centers market include:
●
Vitas Healthcare Corporation
●
Skilled Healthcare Group Incorporated
●
Sunrise Senior Living,
●
LLC ,
●
Kindred Healthcare Incorporated,
●
Gentiva Health Services Incorporated
●
Home Instead Senior Care Incorporated,
●
Amedisys Incorporated,
●
Skilled Healthcare Group Incorporated,
●
Genesis HealthCare Corporation,
●
Senior Care Centers of America,
●
GGNSC Holdings LLC.
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Hospices & palliative care is a type of care that offers support and care for patients during their last phase of life.

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