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Palliative care serves as a health care specialty that's that comprises a philosophy of care and an organized, extremely structured system for delivering care to the persons with severe or enervating illness from diagnosis till death. The global palliative care market has classified into two based on the service type as end user and geography.

The global market for palliative care is probably going to flourish over the prediction period of 2017-2027 due to increasing awareness concerning physical, social, and psychological, needs of patients, and their families. According to UN agency, Majority of individuals receiving hospice care are cancer patients.

Palliative Care Project Market Growth

The Palliative care market growth between 2008-2020 has a stunning growth and the factors that have led to the growth of this market are growing the aging population, increase in chronic life-threatening disease, initiative taken by the government and non- profit organization, and rise in government funding. The Palliative Care Provider market is in a period of growth. Over the 10 years up to 2023, increased exchange price or the industry's contribution to the U.S. economy to grow at an annualized rate of 0.4%. This may be quicker than that of the U.S. During the same year (2.2 percent), this increase is accompanied by decreases in the early part of the 10-year cycle in particular.

The hospice & palliative care facility industry is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the rest of the world. The American Board of Medical Specialties, as well as Australia, Canada, Scotland, New Zealand, and Ireland, now accept hospice and palliative care services as a medical subspecialty. Most European countries are also establishing palliative care certificates.

Main Hospice and Palliative Care Centers:

Many private insurance plans, health care organizations (HMOs) and other managed care organizations also provide hospice care costs through their plans and policies that further improve hospice and palliative care demand. These hospice and palliative facilities are also being set up in emerging nations such as India, Brazil, Indonesia, and China, where poverty and insufficient accessibility to health care are present. Therefore, the market for hospice and palliative care is developing itself in these countries and with increasing awareness will be in great demand.

Form of Hospices & Palliative care programs: medical treatment, nursing, clinical services, skilled volunteer support, social services, spiritual support and counseling, home health care, physical and occupational rehabilitation, speech therapy, hospital care, respite care, isolation assistance and day care services for adults.

Challenges in Palliative Care:

Annually Worldwide:

• 54 million people die (of various causes)

• 30 million die from progressive organ failure or other illness

• 8.5 million die from Cancer

• 1.5 million die from HIV/AIDS.