The North America Palliative Care Market would witness market growth of 7.4% CAGR during the forecast period (2024-2031).
The US market dominated the North America Palliative Care Market by Country in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $6,888.1 million by 2031. The Canada market is showcasing a CAGR of 9.8% during (2024 - 2031). Additionally, The Mexico market would capture a CAGR of 8.9% during (2024 - 2031).
Palliative care, an interdisciplinary healthcare approach that prioritizes enhancing the quality of life for individuals afflicted with severe illnesses, has become an integral component of patient-centered care. Rooted in the principles of compassion, dignity, and holistic support, palliative care addresses patients' and their families' physical, emotional, social, and spiritual needs, offering comfort, symptom management, and psychosocial support throughout the illness trajectory.
In light of escalating chronic disease burdens, expanding populations undergoing palliative care, and altering healthcare priorities, the palliative care market is positioned to experience substantial growth and innovation. As per Statistics Canada, in 2022, there were 7,330,605 people aged 65 and older in Canada.
As per the data provided in 2023 by the Government of Canada, in order to enhance health care services for Canadians, the government announced a $196.1 billion investment over 10 years, including $46.2 billion in extra financing for the provinces and territories. In addition, it will invest $2.5 billion over ten years to support indigenous priorities and complementary federal support, for a total of $198.6 billion over ten years. Hence, the rising healthcare sector and cancer cases in North America will boost the demand for palliative care in the coming years.
Free Valuable Insights: The Palliative Care Market is Predict to reach USD 25 Billion by 2031, at a CAGR of 8.1%
Based on Age, the market is segmented into Adult, and Pediatric. Based on Condition, the market is segmented into Cancer, Cardiovascular Diseases, Chronic Respiratory Diseases, and Others. Based on Provider, the market is segmented into Hospitals & Clinics, Nursing Homes, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Age
By Condition
By Provider
By Country
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