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

Research Methodology

A three-pronged approach was followed for deducing the u.s. hospice market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for u.s. hospice market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of u.s. hospice market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

U.S. Hospice Market Categorization:

The u.s. hospice market was categorized into four segments, namely type (Routine Home Care, Continuous Home Care, Inpatient Respite Care, General Inpatient Care), location (Hospice Center, Hospital, Home Hospice Care, Skilled Nursing Facility), diagnosis (Dementia, Circulatory/Heart, Cancer, Respiratory, Stroke, Chronic Kidney Disease), and regions (U.S.).

Segment Market Methodology:

The u.s. hospice market was segmented into type, location, diagnosis, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The u.s. hospice market was analyzed at a regional level. The globe was divided into U.S., keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into countries, namely, 

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

U.S. hospice market companies & financials:

The u.s. hospice market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• KINDRED HEALTHCARE INC. (KNIGHT HEALTH HOLDINGS, INC.) Kindred Healthcare, Inc., a healthcare service company, along with its subsidiaries, operates in home health, community care, hospice, and contract rehabilitation. It also owns nursing centers & assisted living facilities across the U.S. The company has four operating divisions— Kindred at Home, Kindred Rehabilitation Services, hospital, and nursing centers. The company’s Kindred at Home division primarily offers hospice, home health, and community care services from more than 635 locations in around 40 states. In 2015, Kindred Healthcare, Inc. acquired Gentiva Health Services, Inc., an Atlanta-based provider of home healthcare services, hospice, and related services. In July 2018, Kindred Healthcare was acquired by insurance provider Humana and two other private equity firms—TPG Capital and Welsh, Carson, Anderson & Stowe. The transaction was valued at USD 4.1 billion. The new company, spun off from the previous company Kindred Healthcare, is now known as Kindred at Home. Humana holds 40% of the company share and the private equity firms have the remaining 60%. In April 2021, Humana announced an agreement to acquire the remaining 60% of Kindred at Home shares. Kindred Healthcare was acquired by LifePoint Health, a renowned healthcare firm, in December 2021. LifePoint and Kindred also formed a new company, ScionHealth, as part of this transaction.

• AMEDISYS Amedisys offers home health, personal care, and hospice care services. The company also offers personalized services. The home healthcare segment aids in recovery from surgery, illness or injury, and avoiding unnecessary re-hospitalization. Hospices offer emotional, spiritual, and physical support to patients. The personal care services ensure patient safety and independence in patients’ homes. The company had 12 personal care centers, 175 hospice care centers, and 331 Medicare certified home healthcare centers as of December 31, 2021.

• LHC GROUP, INC. LHC Group, Inc. is a national provider of home healthcare services in the U.S. The company provides high-quality services through home nursing agencies, hospices, and facility-based services. Hospices provide a wide range of services such as pain & symptom management, emotional & spiritual support, homemaker services, respite & inpatient care, and counselling. The company operates 170 hospice locations, of which 106 are wholly owned, 62 are majority-owned by the company through equity joint ventures, and two are under license lease arrangements.

• BROOKDALE SENIOR LIVING, INC. Brookdale Senior Living, Inc. is one of the largest operators of senior living communities in the U.S. As of December 2021, it had 679 communities in 41 states and could cater to over 60,000 residents. The company operates through five business segments: retirement centers; assisted living; continuing care retirement communities—rental; Brookdale ancillary services; and management services. The service portfolio of the company includes independent living, personalized assisted living, skilled nursing, memory care, and rehabilitation. The company’s ancillary service programs offer outpatient therapy, personalized living, home health, and skilled nursing facility services.

• CHEMED CORPORATION Chemed Corporation is a public holding company operating two wholly owned subsidiaries—Roto-Rooter Services Company and Vitas Healthcare Corporation. Through a network of registered nurses, physicians, social workers, home health aides, volunteers, & clergy, hospice and palliative care services are provided to patients under the VITAS segment. The company's VITAS division is based in Florida. Its services are provided through a network of company-owned branches, independent contractors, and franchisees. The company's subsidiaries include Comfort Care Holdings Co., Chemed RT, Inc., and Comfort Care Holdings Co.

• CROSSROADS HOSPICE Crossroads Hospice provides healthcare services in the U.S. It offers various services such as skilled nursing, hospice & palliative care, inpatient treatment facilities, and home health services. Crossroads Hospice depends on funding from annual donors or donations from the general public. The company works in partnership with Fraser Health.

• SEASONS HOSPICE & PALLIATIVE CARE Seasons Hospice & Palliative Care being a community-based organization provide quality end-of-life care to patients. Seasons Hospice provides a full range of assistive and communication aids to patients who are deaf, have hearing problems are blind, or those who have other sensory impairments. Several groups of the company form Seasons Hospice & Palliative Care such as Seasons Hospice & Palliative Care, Seasons Healthcare Management, Seasons Medical Group and Seasons Hospice Foundation. The company operates 31 Medicare-certified sites across 19 states. It admitted over 25,900 patients and cared for 30,900+ patients & families in 2019 with 1.85 million days of care. In December 2020, AccentCare, Inc. and Seasons Hospice & Palliative Care completed a merger to combine their two organizations to meet the growing needs for their services better.

• ACCENTCARE, INC. AccentCare, Inc. is a healthcare provider that offers services such as medical, nursing, personal and hospice care, behavioral health, occupational & physical therapy, and rehabilitative services. AccentCare has 190 offices across North America and India with more than 22,000 qualified professionals. The company has over 60 strategic relationships with physician groups, major health systems, and insurance companies, including joint venture companies. The following are the sister companies of AccentCare: Texas Home Health Group, AccentCare, AccentCare of New York, Texas Home Health, Alliance for Health, Guardian Home Care & Hospice, Nurses Unlimited, Sta-Home Home Health, Accolade, and Doctors Choice.

• HEART TO HEART HOSPICE Heart to Heart Hospice offers a wide range of services, including physician & nursing care, social worker services & counseling, medication, and physical, occupational, & speech therapy as well as bereavement and spiritual counseling in partnership with physicians, medical professionals, nursing homes, and hospitals. The company is one of the major private providers of hospice care in the U.S. It delivers care to patients & families and educates communities on end-of-life care.

• OKLAHOMA PALLIATIVE & HOSPICE CARE Oklahoma Palliative & Hospice Care is a community-based healthcare company focused on offering to hospice care. The company’s mission is to surpass or satisfy each patient's unique medical, spiritual, and emotional needs, whilst making each lasting moment as important as possible. The organization provides pain management and compassionate care to individuals approaching the end of their life as well as to their friends and family. The company takes a holistic approach, with a team of professionals attending to spiritual, emotional, and medical needs of patients.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

U.S. Hospice Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 - 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

U.S. Hospice Market Report Assumptions:

• The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.