Palliative Care Market
To Reach USD 6.10
Billion By 2027
www.reportsanddata.comThe Global Palliative Care market is forecast to reach USD 6.10 Billion by 2027, according to a new report by
Reports and Data. Palliative care can be described as a specialized form of health care service provided to
patients having serious illnesses.
Further key findings from the report suggest
• Technological advancements in the healthcare sector is also fostering the market growth. One of such
mentionable advancement is remote monitoring. Sensors in wearable devices like smartwatches
transmits signal to the health care team, about the status of patients like when a patient has fallen over.
As elaborated by the Institute of Electrical and Electronic Engineers, in the November 2020 edition of
IEEE Pulse magazine, remote monitoring via wearable sensors helps in predicting the probability of falls,
detect changes in movement and send alerts to caregivers promptly. These advancements help in
enhancing the quality of care services.
In context to Care Type, the Hospice Resident Care segment is projected to witness the fastest growth rate
of 11.3% during the forecast period, which expected to hold, 14.5% of the market by 2027. The growth
rate witnessed by the Hospice Resident Care segment is attributed to the increasing awareness about the
importance of this care in life-threatening conditions and elevating number of residential hospice,
particularly in developing region, which is contributing to the growth rate witnessed by this segment.
Palliative Care Market Size – USD 2.95 Billion in 2020, Market Growth - CAGR of 8.0%, Market Trends –
The rising demand for Palliative Care for treating Alzheimer’s
Care Type Outlook (Revenue, USD Billion; 2020-2027)
• Hospital Inpatient Care
• Private Resident Car
• Hospice Resident Care
• Nursery and Residential Facility Car
End-user Outlook (Revenue, USD Billion; 2020-2027)