To know the impact of COVID-19 On Hospice Market By Type ( Acute Care, Respite Care ), By Application ( Home Settings, Hospitals, Specialty Nursing Homes, Hospice Care Centers ), Industry Analysis, Trends, And Forecast, 2021-2027 Market
Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027
Global Hospice Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2026- Increasing population pool of aged people, rising caseload of serious life threatening diseases and growing adoption of hospice services are some of the major factors driving the market growth.
Scope of the Global Hospice Market:
The word ""hospice"" derives from Latin hospitum which means hospitality or place of rest and protection for the illness. The type of healthcare which is focusing on the palliation of terminally ill patients that means end-stage diseases patient’s pain and symptoms and attending to their emotional and spiritual needs at the end of life is nothing but the Hospice. It provides an alternative to therapies focused on life-prolonging measures that may be difficult possible to cause more symptoms or are not aligned with a person’s goals. It is largely defined by the practices of the Medicare system and health insurance providers which cover inpatient or at home hospice care for patients who are estimated to live six months or less. The Hospice movement is firstly started in 1950s by nurse named Dame Cicely Saunders in England.
Global Hospice Market is segmented on the basis of type, application and region & country level. On the basis of type, the market is segmented into acute care and respite care. On the basis of application, the market is segmented into home settings, hospitals, specialty nursing homes and hospice care centers.
The regions covered in this Global Hospice Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Hospice is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Hospice –
Major players in the global hospice market report include are such as Kindred Healthcare, National Hospice and Palliative Care Organization, Alzheimer's Association, Benton Hospice Services, Oklahoma Hospice Care, New Hampshire Hospice and Palliative Care Organization, Dierksen Hospice, Covenant Care, Chatham-Kent Hospice, PruittHealth, Fairview Health Services and others.
CMS Relaxed Hospice Training Rules
On April 13th, 2020; the U.S. Centers for Medicare & Medicaid Services (CMS) has allotted additional 1135 waivers for hospice who are connected to training requirements for hospice aides. CMS can confer an 1135 waiver for health care organizations during a federally declared national emergency. This waiver temporarily modifies the Medicare Conditions of Participation (CoPs) and other requirements to allow providers to focus their efforts on caring for a potentially massive influx of patients. All these considerations are temporary and that will expire when the national emergency is officially concluded. Seema Verma, CMS Administrator said that, it is all hands on deck during this crisis. All the frontline medical professionals need to be able to work as they were trained for, at the highest level. The CMS has making sure there are no regulatory obstacles to increasing the medical workforce to handle the patient surge during the COVID pandemic.
Increasing Cases of End Stage Renal Disease along with Aging Population are Driving the Market Growth.
As the Hospice services are provided to the patients who are suffering from last phase of their life and have completed the medical treatment course for their incurable diseases such as congestive heart failure, lung disease, cancer and dementia. According to National Health Council, Generally incurable and ongoing, chronic diseases affect approximately 133 million Americans and that number is projected to grow to an estimated 157 million by 2020. Hence, increasing cases of end-stage renal disease is one of the major factors fostering the market growth. According to Center to Advance Palliative care, Approximately 6,000,000 people in the United States could benefit from palliative care and there are more than 1700 hospitals with a palliative care team that means approximately 61% of all hospitals. Thus, increasing number of private and Government aided organizations for providing hospice care services are also supplementing the market growth. However, high cost associated with the treatment may hamper the market growth.
North America is Expected to Dominate the Global Hospice Market.
Geographically, North America region is expected to dominate the global hospice market. This is due to the region has extensive support from the government to set up the infrastructure and other essential necessities required by hospice centers. In addition, increasing number of geriatric population is also supplementing the market growth. According to U.S. Department of Health and Human Services; the number of people aged 65 or older is projected to grow from an estimated 524 million in 2010 to nearly 1.5 billion in 2050.
Asia Pacific is to witness a significant growth in the global hospice market due to the region has set up of few hospice centers with the help of government, private sectors and renowned doctors. According to Asian Oncology Nursing Society, More than 735 pilot units were established for providing the development and distribution of palliative care services for pain management across China by October 2015 and the number had reached 913 in 2017.
Key Benefits for Global Hospice Market Report–
- Global hospice market report covers in depth historical and forecast analysis.
- Global hospice market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global hospice market report helps to identify opportunities in market place.
- Global hospice market report covers extensive analysis of emerging trends and competitive landscape.
Hospice Market Report Coverage
||Market Size in 2019:
||US$ XX Billion
|Market Historical Analysis:
|Forecast Period CAGR %:
||Market Size Expected to reach in 2026:
||US$ XX Billion
||Tables, Charts & Figures:
||Kindred Healthcare, National Hospice and Palliative Care Organization, Alzheimer's Association, Benton Hospice Services, Oklahoma Hospice Care, New Hampshire Hospice and Palliative Care Organization, Dierksen Hospice, Covenant Care, Chatham-Kent Hospice, PruittHealth, Fairview Health Services
||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
Global Hospice Market Segmentation:–
- Home Settings
- Specialty Nursing Homes
- Hospice Care Centers
By Regional & Country Analysis:
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
Frequently Asked Questions (FAQ) :
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Hospice Market Size, Share, Growth And Forecast By 2027
Hospice Market By Type ( Acute Care, Respite Care ), By Application ( Home Settings, Hospitals, Specialty Nursing Homes, Hospice Care Centers ), Industry Analysis, Trends, And Forecast, 2021-2027
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