The Emergence of COVID-19 to Augment Growth of the Palliative Care Market

 

Palliative Care Market

Palliative care is a generic term for non-medical care giving that focuses on improving quality of life and alleviating suffering among individuals with life-threatening, incurable medical conditions. It includes not only basic nursing care but also psychiatric services, pain management, pharmacological therapy, and psychosocial services. Many people often opt for this form of treatment because it offers them hope for a better recovery.

Palliative care often becomes the only option for terminal patients who are too ill to receive any medical treatment or who need specialized therapies. Palliative care teams specialize in treating people suffering from serious diseases such as cancer, Parkinson’s, Alzheimer’s, Amyotrophic Lateral Sclerosis, kidney disease, chronic obstructive pulmonary disease, congestive heart failure, and others.

Market Dynamics:

Increasing prevalence of chronic illnesses and the growing geriatric population worldwide is expected to propel the growth of the palliative care market. For instance, according to the World Health Organization (WHO), by 2050, the world's population aged 60 years and older is expected to total 2 billion, up from 900 million in 2015.

The emergence of COVID-19 is expected to offer lucrative growth opportunities for players in the palliative care market. For instance, in February 2021, Mount Sinai Health System announced that it will expand its partnership with Contessa to launch Palliative Care at Home to help care for seriously ill COVID-19 patients in their home. However, lack of awareness among people regarding palliative care services and centers in emerging economies is expected to restrain the growth of the palliative care market.

Asia Pacific is expected to witness robust growth in the palliative care market due to increasing awareness among people about palliative care in the region. For instance, in February 2021, Pallium India is jointly organized a cycle ride with Indus Cycling Embassy to create more awareness on palliative care among the public.

Competitive Analysis:

Major players operating in the palliative care market are Vitas Healthcare Corporation, Genesis HealthCare Corporation, Amedisys Incorporated, Home Instead Senior Care Incorporated, Gentiva Health Services Incorporated, Kindred Healthcare Incorporated, Sunrise Senior Living LLC, and Skilled Healthcare Group Incorporated.

Major players in the market are adopting various growth strategies, such as product launch, merger and acquisition, etc., to strengthen their market position. For instance, in February 2021, Perfect Health and ConcertoHealth merged to form ConcertoCare to offer community-based palliative care in addition to a range of other services.

Moreover, in January 2021, Ehave, Inc. announced that it is exploring how palliative patients could benefit from its Ketamine home delivery platform, KetaDASH.


Location: India

Comments

Post a Comment

Popular posts from this blog

Fitness Equipment Market is doing warm-ups to pull growth-rich opportunities from the growing obesity rates accompanied by the sedentary lifestyles

Image
  Fitness equipment is any mechanical device or equipment used in sport or exercise to improve the physical performance or strength of that activity by providing either adjustable or constant levels of force, either of dynamic nature that is immediately available to exert (such as running) or of a static type that requires adjustments (such as a bicycle). Some common types of equipment are treadmills, elliptical machines, step machines, exercise bicycles, recumbent bikes, treadmill monitors, rowing machines, and many more. Fitness equipment is used in gyms and private home fitness facilities as well as public parks and recreational facilities. Fitness equipment for the home is designed to provide low-impact aerobic workouts. Some items are available for rent or sale on the Internet. Rowing machines and exercise bicycles can give an all-over body workout, while Schwinn exercise bicycles can be used to target specific muscles. Fitness equipment for home gyms can be classified into ...
Read more

The market for ureteral stents would benefit from the rising prevalence of urological diseases

Image
  A ureteral stent is a slender adaptable cylinder embedded straightforwardly into the ureter to forestall or cure block of the urinary entry from the ureter. The length of these stents utilized for grown-up quiet's reaches somewhere in the range of 30 and 24 inches. Furthermore, various distances across or sizes of stents are accessible, to suit distinctive ureter sizes. This permits treatment choices to be customized to the person, just as to the degree of obstacle. Urinary stents are made of either metal silicone or plastic. They are set straightforwardly into the bladder through the urethra valve. Ureteral stents can either be made percutaneously, through medical procedure or by methods for an outpatient strategy. Contingent upon the sort of ureter that is influenced, the technique can be either a solitary needle or numerous needles. The developing commonness of urological illnesses around the world is driving the development of the ureteral stents market . Development in t...
Read more

Increases in Fuel Prices Significantly Impacts Growth of Automotive Repair and Maintenance Services Market

Image
  The automotive repair and maintenance services market is expected to expand significantly in the near future. Mechanical services are likely to remain the largest sector while electronic services are expected to grow the fastest. New heavy-duty vehicle dealers are expected to lead gains while independent repair shops, specialized mechanics and general automotive service companies will maintain their share of the market. The top performing providers will share the lion's share of market revenues with the top performing service providers. The gap between the two in terms of growth will widen further as traditional dealers find it difficult to survive the economic downturn. As the industry continues to reinvent itself, several factors are likely to impact the service sector. Economic Factors: The automotive repair and maintenance services market employs a large number of skilled workers. These works for the majority of the firms that provide services for automobiles. The high inf...
Read more