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, 2023 - 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 8.02% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth can be attributed to the growing geriatric population and the growing 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 the NHPCO statistics, in 2020, 1.72 million Medicare beneficiaries in the U.S. received hospice services for at least one day or more. The 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 the long-term projections and operational goals of the industry in the U.S. The 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 the 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 the refusal of patients to in-person visits during the COVID-19 pandemic. This is expected to drive the market growth post-pandemic.
U.S. Hospice Market Report Highlights
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 8.02% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth can be attributed to the growing geriatric population and the growing 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 the NHPCO statistics, in 2020, 1.72 million Medicare beneficiaries in the U.S. received hospice services for at least one day or more. The 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 the long-term projections and operational goals of the industry in the U.S. The 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 the 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 the refusal of patients to in-person visits during the COVID-19 pandemic. This is expected to drive the market growth post-pandemic.
U.S. Hospice Market Report Highlights
- Based on location, the hospice center segment dominated the market, with the largest share of around 60% in 2022. This can be attributed to several benefits offered by these centers. In addition, growing awareness regarding various advantages, such as the 24/7 availability of professional care and emotional support from family members, is projected to propel market growth
- Based on type, Routine Home Care (RHC) held the largest market share of around 90% in 2022, owing to the vast majority of Medicare days of care. According to NHPCO statistics, in 2020, around 92.7% of the Medicare days of care were at the RHC facilities
- Based on diagnosis, the dementia segment dominated the market with a share of around 25% in 2022. This can be attributed to the growing need for care and the high prevalence of the condition
- The market is highly fragmented, with the presence of a few major players and a large number of small- & medium-sized care providers. Service providers are adopting various strategies, such as mergers & acquisitions, market expansion, and technology adoption, to strengthen their market presence. For instance, in July 2021, Amedisys acquired the hospice and home health assets of Visiting Nurse Association, enabling it to provide services in Council Bluffs, Iowa, Omaha, and Nebraska
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 -
1.8.2. Objective -
1.8.3. Objective -
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
3.2. 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
7.2. Company Categorization
7.3. Company Market Position Analysis
7.4. Strategy Mapping
CHAPTER 8. RECOMMENDATIONS/KEY MARKET INSIGHTS
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 -
1.8.2. Objective -
1.8.3. Objective -
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
3.2. 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
7.2. Company Categorization
7.3. Company Market Position Analysis
7.4. Strategy Mapping
CHAPTER 8. RECOMMENDATIONS/KEY MARKET INSIGHTS
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)
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, 2022
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
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, 2022
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
