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Classified in: Health, Covid-19 virus
Subject: MRR

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 -

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:

Global Hospice Market ? Market Dynamics

Major Trends - 

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 - 

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.

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Related Reports: 

Hospice Market Scope

Report Coverage


Base year


Historic period


Forecast period


Growth momentum & CAGR

Accelerate at a CAGR of 4.11%

Market growth 2023-2027

USD 89.07 billion

Market structure


YoY growth 2022-2023 (%)


Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 32%

Key countries

US, Canada, UK, Germany, and China

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

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, and The Ensign Group Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Service

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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.

Technavio Research
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SOURCE Technavio

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