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PUBLISHER: Grand View Research | PRODUCT CODE: 1404740
PUBLISHER: Grand View Research | PRODUCT CODE: 1404740
U.S. Hospice Market Size, Share & Trends Analysis Report By Type, By Location (Hospice Center, Home Hospice Care), By Diagnosis (Dementia, Cancer), And Segment Forecasts, 2024 - 2030
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U.S. Hospice Market Growth & Trends:
The U.S. hospice market size is expected to reach USD 65.0 billion by 2030, growing at a CAGR of 8.07% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growth can be attributed to the growing geriatric population and the increasing prevalence of chronic disorders amid this demographic. The rising demand for end-of-life care for chronic disorders, such as cancer, dementia, and cardiovascular disease, drives the growth of the industry. According to NHPCO statistics, in 2020, 1.72 million Medicare beneficiaries in the U.S. received hospice services for at least one day or more. Enrollment rate increased by around 6.8% from 2019.
The adoption of new technologies among providers is constantly growing. This includes bringing services to rural areas and demonstrating how technology is transforming the approach to care. Many service providers have begun to deploy technology such as telemedicine, predictive analytics, virtual reality, and artificial intelligence. For instance, in March 2023, WorldView partnered with care coordinations to design a solution to transform home health & hospice care delivery by integrating automation and patient engagement.
The COVID-19 pandemic negatively impacted the market by affecting long-term projections and operational goals of the industry in the U.S. providers reported the lowest share of Medicare decedents enrolled for care since 2013, owing to the death rate outpacing the increase in enrollment rate. According to NHPCO data, in 2020, around 47.8% of Medicare decedents received hospice care in the U.S., much lower than around 51.6% in 2019. Currently, these centers are adopting advanced technologies due to patients refusing in-person visits during the COVID-19 pandemic. This is expected to drive market growth post-pandemic.
U.S. Hospice Market Report Highlights:
- Based on location, hospice center segment dominated the market, with the largest revenue share of around 60% in 2023. This can be attributed to several benefits offered by these centers. In addition, growing awareness regarding various advantages, such as 24/7 availability of professional care and emotional support from family members, is projected to propel market growth
- Based on type, the routine home care (RHC) held the largest market share of around 90% in 2023, owing to the vast majority of Medicare days of care. According to NHPCO statistics, in 2020, around 92.7% of Medicare days of care were at RHC facilities
- Based on diagnosis, the dementia segment dominated the market with a revenue share of around 25% in 2023. This can be attributed to the growing need for care and high prevalence of the condition
Product Code: GVR-3-68038-696-7
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation
- 1.2. Estimates and Forecast Timeline
- 1.3. Research Methodology
- 1.3.1. Information procurement
- 1.3.2. Purchased Database
- 1.3.3. GVR's Internal Database
- 1.3.4. Secondary Sources
- 1.3.5. Primary Research
- 1.3.6. Details of Primary Research
- 1.4. Information or Data Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Validation
- 1.5.1. Commodity Flow Analysis
- 1.6. List of Secondary Sources
- 1.7. List of Abbreviations
- 1.8. Research Objectives
- 1.8.1. Objective - 1
- 1.8.2. Objective - 2
- 1.8.3. Objective - 3
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
- 3.1. Market Dynamics
- 3.1.1. Market Driver Analysis
- 3.1.1.1. Rising geriatric population
- 3.1.1.2. Growing prevalence of chronic conditions
- 3.1.1.3. Increasing number of hospice centers
- 3.1.2. Market Restraint Analysis
- 3.1.2.1. Underutilization of hospice services among population
- 3.1.2.2. Shortage of workforce
- 3.1.3. Industry Challenges
- 3.1.3.1. Correct documentation
- 3.1.3.2. Misconceptions & late referrals
- 3.1.4. Industry Opportunities
- 3.1.4.1. Initiatives by hospice care centers
- 3.1.4.2. Adoption of new technologies
- 3.1.1. Market Driver Analysis
- 3.2. Industry Analysis Tools
- 3.2.1. Porter's Five Forces Analysis
- 3.2.2. PESTLE Analysis
- 3.3. Regulatory Framework & Reimbursement Scenario
- 3.4. COVID-19 Impact Analysis
Chapter 4. U.S. Hospice Market: Location Estimates & Trend Analysis
- 4.1. Segment Definitions
- 4.2. U.S. Hospice Market: Segment Dashboard
- 4.3. U.S. Hospice Market: Location Movement & Market Share Analysis
- 4.4. Hospice Center
- 4.4.1. Hospice Center Market, 2018 - 2030 (USD Billion)
- 4.5. Hospital
- 4.5.1. Hospital Market, 2018 - 2030 (USD Billion)
- 4.6. Home Hospice Care
- 4.6.1. Home Hospice Care Market, 2018 - 2030 (USD Billion)
- 4.7. Skilled Nursing Facility
- 4.7.1. Skilled Nursing Facility Market, 2018 - 2030 (USD Billion)
Chapter 5. U.S. Hospice Market: Type Estimates & Trend Analysis
- 5.1. Segment Definitions
- 5.2. U.S. Hospice Market: Segment Dashboard
- 5.3. U.S. Hospice Market: Type Movement & Market Share Analysis
- 5.4. Routine Home Care
- 5.4.1. Routine Home Care Market, 2018 - 2030 (USD Billion)
- 5.5. Continuous Home Care
- 5.5.1. Continuous Home Care Market, 2018 - 2030 (USD Billion)
- 5.6. Inpatient Respite Care
- 5.6.1. Inpatient Respite Care Market, 2018 - 2030 (USD Billion)
- 5.7. General Inpatient Care
- 5.7.1. General Inpatient Care Market, 2018 - 2030 (USD Billion)
Chapter 6. U.S. Hospice Market: Diagnosis Estimates & Trend Analysis
- 6.1. Segment Definitions
- 6.2. U.S. Hospice Market: Segment Dashboard
- 6.3. U.S. Hospice Market: Diagnosis Movement & Market Share Analysis
- 6.4. Dementia
- 6.4.1. Dementia Market, 2018 - 2030 (USD Billion)
- 6.5. Circulatory/Heart
- 6.5.1. Circulatory/Heart Market, 2018 - 2030 (USD Billion)
- 6.6. Cancer
- 6.6.1. Cancer Market, 2018 - 2030 (USD Billion)
- 6.7. Respiratory
- 6.7.1. Respiratory Market, 2018 - 2030 (USD Billion)
- 6.8. Stroke
- 6.8.1. Stroke Market, 2018 - 2030 (USD Billion)
- 6.9. Chronic Kidney Disease
- 6.9.1. Chronic Kidney Disease Market, 2018 - 2030 (USD Billion)
- 6.10. Others
- 6.10.1. Others Market, 2018 - 2030 (USD Billion)
Chapter 7. Competitive Landscape
- 7.1. Company Profiles
- 7.1.1. Kindred Healthcare Inc. (Knight Health Holdings, Inc.)
- 7.1.1.1. Overview
- 7.1.1.2. Financial Performance
- 7.1.1.3. Service Benchmarking
- 7.1.1.4. Strategic Initiatives
- 7.1.2. Amedisys
- 7.1.2.1. Overview
- 7.1.2.2. Financial Performance
- 7.1.2.3. Service Benchmarking
- 7.1.2.4. Strategic Initiatives
- 7.1.3. LHC Group, INC.
- 7.1.3.1. Overview
- 7.1.3.2. Financial Performance
- 7.1.3.3. Service Benchmarking
- 7.1.3.4. Strategic Initiatives
- 7.1.4. Brookdale Senior Living, Inc
- 7.1.4.1. Overview
- 7.1.4.2. Financial Performance
- 7.1.4.3. Service Benchmarking
- 7.1.4.4. Strategic Initiatives
- 7.1.5. Chemed Corporation
- 7.1.5.1. Overview
- 7.1.5.2. Financial Performance
- 7.1.5.3. Service Benchmarking
- 7.1.5.4. Strategic Initiatives
- 7.1.6. Crossroads Hospice
- 7.1.6.1. Overview
- 7.1.6.2. Financial Performance
- 7.1.6.3. Service Benchmarking
- 7.1.6.4. Strategic Initiatives
- 7.1.7. Seasons Hospice & Palliative Care
- 7.1.7.1. Overview
- 7.1.7.2. Financial Performance
- 7.1.7.3. Service Benchmarking
- 7.1.7.4. Strategic Initiatives
- 7.1.8. Accentcare, Inc.
- 7.1.8.1. Overview
- 7.1.8.2. Financial Performance
- 7.1.8.3. Service Benchmarking
- 7.1.8.4. Strategic Initiatives
- 7.1.9. Heart To Heart Hospice
- 7.1.9.1. Overview
- 7.1.9.2. Financial Performance
- 7.1.9.3. Service Benchmarking
- 7.1.9.4. Strategic Initiatives
- 7.1.10. Oklahoma Palliative & Hospice Care
- 7.1.10.1. Overview
- 7.1.10.2. Financial Performance
- 7.1.10.3. Service Benchmarking
- 7.1.10.4. Strategic Initiatives
- 7.1.1. Kindred Healthcare Inc. (Knight Health Holdings, Inc.)
- 7.2. Company Categorization
- 7.3. Company Market Position Analysis
- 7.4. Strategy Mapping
Chapter 8. Recommendations/Key Market Insights
Product Code: GVR-3-68038-696-7
List of Tables
- Table 1 List of secondary sources
- Table 2 List of abbreviations
- Table 3 U.S. hospice market, by location, 2018 - 2030 (USD Billion)
- Table 4 U.S. hospice market, by type, 2018 - 2030 (USD Billion)
- Table 5 U.S. hospice market, by diagnosis, 2018 - 2030 (USD Billion)
List of Figures
- Fig. 1 U.S. Hospice Market Segmentation
- Fig. 2 Market research process
- Fig. 3 Data triangulation techniques
- Fig. 4 Information procurement
- Fig. 5 Primary research pattern
- Fig. 6 Market research approaches
- Fig. 7 Value chain-based sizing & forecasting
- Fig. 8 QFD modeling for market share assessment
- Fig. 9 Market formulation & validation
- Fig. 10 Market Snapshot, 2023
- Fig. 11 Segment outlook
- Fig. 12 Competitive landscape
- Fig. 13 U.S. hospice market dynamics
- Fig. 14 U.S. hospice market: PESTLE analysis
- Fig. 15 U.S. hospice market: Porter's Five Forces analysis
- Fig. 16 U.S. hospice location market: Segment dashboard
- Fig. 17 U.S. hospice market: Location movement & market share analysis
- Fig. 18 U.S. hospice market, by hospice center, 2018 - 2030 (USD Billion)
- Fig. 19 U.S. hospice market, by hospital, 2018 - 2030 (USD Billion)
- Fig. 20 U.S. hospice market, by home hospice care, 2018 - 2030 (USD Billion)
- Fig. 21 U.S. hospice market, by skilled nursing facility, 2018 - 2030 (USD Billion)
- Fig. 22 U.S. hospice type market: Segment dashboard
- Fig. 23 U.S. hospice market: Type movement & market share analysis
- Fig. 24 U.S. hospice market, by routine home care, 2018 - 2030 (USD Billion)
- Fig. 25 U.S. hospice market, by continuous home care, 2018 - 2030 (USD Billion)
- Fig. 26 U.S. hospice market, by inpatient respite care, 2018 - 2030 (USD Billion)
- Fig. 27 U.S. hospice market, by general inpatient care, 2018 - 2030 (USD Billion)
- Fig. 28 U.S. hospice diagnosis market: Segment dashboard
- Fig. 29 U.S. hospice market: Diagnosis movement & market share analysis
- Fig. 30 U.S. hospice market, by dementia, 2018 - 2030 (USD Billion)
- Fig. 31 U.S. hospice market, by circulatory/heart, 2018 - 2030 (USD Billion)
- Fig. 32 U.S. hospice market, by cancer, 2018 - 2030 (USD Billion)
- Fig. 33 U.S. hospice market, by respiratory, 2018 - 2030 (USD Billion)
- Fig. 34 U.S. hospice market, by stroke, 2018 - 2030 (USD Billion)
- Fig. 35 U.S. hospice market, by chronic kidney disease, 2018 - 2030 (USD Billion)
- Fig. 36 U.S. hospice market, by others, 2018 - 2030 (USD Billion)
- Fig. 37 Company/competition categorization
- Fig. 38 Company market position analysis
- Fig. 39 Strategy mapping
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