Hospice care involves palliative care and pain management for patients with terminal illnesses near the end of life. It provides holistic support to improve quality of life for patients and their families dealing with life-limiting conditions, loss, and grief. Rising geriatric population suffering from chronic diseases, growing preference for palliative care over curative treatment at the end stage, and increasing awareness about hospice services can drive the market growth. However, high costs associated with hospice care and lack of awareness in developing nations may restrain the market growth.
Market Dynamics
Global hospice services market growth is driven by growing geriatric population worldwide that is more prone to chronic illnesses. In October 2025, as per WHO, the percentage of global population over 60 years will nearly double from 12% to 22% between 2015 and 2050. This has significantly increased the need for palliative and end-of-life care. Increasing preference for hospice care over curative treatment at the terminal stage of illness can also drive the market growth, as it ensures better quality of life. Several government initiatives like Palliative Care Improvement Act in U.S to promote palliative care and remove the stigma around death and dying have also boosted the market growth. However, high costs of hospice services pose a major challenge, restricting wider acceptance. Lack of awareness about hospice care in underdeveloped regions can hamper the market growth. The market offers opportunities due to rising investments by industry players to expand service offerings and geographic footprint.
Key Features of the Study
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