APAC Palliative Care Market Analysis Report [2022-30]

APAC Palliative Care Market Analysis

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The APAC Palliative care market is projected to grow from $2.75 Bn in 2022 to $5.58 Bn by 2030, registering a CAGR of 9.27% during the forecast period of 2022 - 2030. The main factors driving the growth would be the availability of cutting-edge healthcare systems, an increase in the use of integrated palliative care in the treatment of chronic life-threatening diseases, and an increase in investments and government support. The market is segmented by service type and by the end user. Some of the major players include Home Instead, Max Healthcare, Kokilaben Dhirubhai Ambani Hospital, Aichi International Hospital and Brightwater Care Group.

ID: IN10APHS013 CATEGORY: Healthcare Services GEOGRAPHY: Asia - Pacific AUTHOR: Neha Davda

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APAC Palliative Care Market Executive Summary

The APAC Palliative care market is projected to grow from $2.75 Bn in 2022 to $5.58 Bn by 2030, registering a CAGR of 9.27% during the forecast period of 2022 - 2030. As per WHO, Western Pacific Area has a total health spending as a percentage of GDP of 7.2% in 2017, which covers numerous Asia-Pacific nations. This ratio, however, may differ significantly from one country to the next within the region.

Palliative care is a method of caring for patients and their loved ones who have terminal diseases. Early detection and treatment of pain as well as other physical, psychological, and spiritual problems are the main aims of palliative care services in order to prevent and lessen suffering. Palliative care also offers team-based treatment and support for the patient's career. This necessitates taking care of practical needs and creating a support structure in order to enable patients to live as active a life as feasible until they die away. Cardiovascular disorders, cancer, chronic respiratory ailments, diabetes, renal failure, chronic liver disease, and other chronic conditions all require palliative care. Through the forecast period, Asia-Pacific, which includes countries such as China, India, Japan, South Korea, and Australia, is anticipated to develop at the market's highest CAGR.

APAC Palliative Care Market

Market Dynamics

Market Growth Drivers

Due to an increase in government programs and investments in raising public awareness of palliative care services and the need for these services, Asia-Pacific offers attractive potential for key players operating in the palliative care market. Additionally, the availability of cutting-edge healthcare systems, an increase in the use of integrated palliative care in the treatment of chronic life-threatening diseases, an increase in investments made to outfit hospitals and palliative care centres with specialised palliative care teams, and a sizable increase in demand for such facilities all contribute to the market's expansion.

Market Restraints

Access to healthcare services is constrained in many Asia-Pacific nations, particularly in rural and distant locations. This may make it more challenging for patients to get the treatment they require by limiting access to palliative care services as well as other healthcare services. Additionally, the Asia-Pacific region's healthcare systems frequently lack funding, which makes it challenging to start and maintain palliative care programs. This may reduce the number of patients who can obtain palliative care services as well as their availability.

Competitive Landscape

Key Players

Home Instead
Max Healthcare
Kokilaben Dhirubhai Ambani Hospital
Aichi International Hospital
Brightwater Care Group

Notable Recent Deals

October 2021: Max Healthcare spent around $193.29 Mn to add about 1,000 beds in Gurugram, Haryana, boosting its capacity in the national capital region. By building two hospitals in Gurugram with about 500 beds each, the company is further strengthening its position and extending its bed capacity in NCR.

Healthcare Policies and Regulatory Landscape

Palliative care is in high demand throughout the Asia-Pacific area, and as a result, there are numerous healthcare rules and regulations in place to guarantee that patients have access to the necessary palliative care services. In a policy statement published in 2014, the WHO outlined the need for palliative care services in the Asia-Pacific region and stressed the significance of incorporating palliative care into current healthcare systems. Governments introduced policies to support the creation and provision of palliative care services as a result of this document.

The regulatory environment for palliative care in the Asia-Pacific region differs greatly between nations, with some currently creating their regulatory frameworks while others have them in place. In India, the Ministry of Health and Family Welfare is mainly in charge of establishing the regulatory framework for the palliative care industry in India. To provide patients with life-limiting illnesses and their families with comprehensive and integrated palliative care services, the National Program for Palliative Care (NPCC) was established. In China, important legislation in the palliative care sector is the "Guidelines for Standardized Hospice and Palliative Care Services," which were published by the National Health Commission in 2018.

Reimbursement Scenario

In the Asia-Pacific area, different countries have quite different approaches to paying for palliative care treatments; some have well-developed systems, while others are currently establishing them. In Australia, the Palliative Care Service Development Program is the mechanism by which the government funds palliative care services. Organizations that offer palliative care services, including home-based palliative care services, speciality palliative care facilities, and palliative care teaching and training programs, can get funding from the programs. While in India, numerous patients and their families still have to pay out of pocket since there is still a lack of funding for palliative care services. But palliative care treatments are already beginning to be covered by some private health insurance companies, and the government is attempting to increase coverage for these services through a number of measures.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Palliative Care Market Segmentation

By Service Type (Revenue, USD Billion):

Based on service type, the APAC palliative care market is divided into the following:

Private residence care
Hospice inpatient care
Hospital inpatient care
Nursing home and residential facility care
Others

By End User (Revenue, USD Billion):

Based on end-user type, the APAC palliative care market is divided into the following:

Hospitals
Home Care Settings
Palliative Care Centers
Long-Term Care Centers & Rehabilitation Centers

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.