A hospice center is a facility that provides patients with end-of-life care. A team of medical professionals and volunteers give palliative care to seriously sick patients at hospice. They help patients with psychological, spiritual, and physiological issues.
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Palliative care is a type of medical treatment for those who are suffering from a terminal illness. Palliative care aims to alleviate the symptoms and stress of life-threatening illnesses. The purpose of palliative care is to enhance the patient’s and family’s quality of life. As per the Centers for Disease Control and Prevention (CDC), the United States had 40 million population aged 65 and up in 2010, accounting for 13% of the total population. By 2030, this is expected to account for about 20% of the US population.
During the forecast period, the worldwide hospice and palliative care centres market is predicted to rise due to an ageing population, rising healthcare spending, and financing from Medicaid and Medicare. Furthermore, most insurance plans, health maintenance organizations (HMOs), and other managed care organizations include hospice care expenses in their policies and plans, fueling the demand for hospice and palliative care. The hospice & palliative care centres market is being driven by the rising prevalence of cancer, the availability of hospice & palliative care centres, the growing popularity of hospice & palliative care centres in developed markets, and the development of novel therapeutics. Furthermore, in underdeveloped and developing economies, high levels of rivalry among current providers, strict government requirements for service approval, and a lack of understanding among the rural population are anticipated to stifle market expansion.
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Some of the major key players in the hospice and palliative care centres market are Vitas Healthcare Corporation (U.S.), Skilled Healthcare Group Incorporated (U.S.), Sunrise Senior Living, LLC (U.S.), Kindred Healthcare Incorporated (U.S.), Gentiva Health Services Incorporated (U.S.), Home Instead Senior Care Incorporated (U.S.), Amedisys Incorporated (U.S.), Genesis HealthCare Corporation (U.S.)
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