End of Life Planning Market To Reach $45.17 Billion By 2030

End of Life Planning Market Growth & Trends

The global end of life planning market size is expected to reach USD 45.17 billion by 2030 and it is projected to grow at a CAGR of 6.52% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market's growth is primarily attributed to factors such as growing awareness about the importance of end-of-life planning and growing adoption of digitalization and technology.

The increasing geriatric population is a major contributor to the market growth. According to the United Nations World Population Prospects, in 2022, the global population of individuals aged 65 and above stood at 771 million, constituting nearly 10% of the world's populace. This demographic cohort has been experiencing rapid growth, projected to reach 16% by 2050 and an estimated 24% by 2100. As the global population ages, there is an increasing demand for end-of-life planning services. Older individuals are more likely to consider their mortality and make arrangements for their estates, funeral preferences, and healthcare directives.

There is a growing demand for personalized and customized end-of-life planning solutions that cater to individual preferences, cultural traditions, and religious beliefs. Service providers offer a wide range of options to accommodate diverse needs and ensure that client's wishes are respected. Moreover, Concerns about the financial implications of end-of-life care and funeral expenses drive many individuals to plan ahead and make arrangements to alleviate the burden on their loved ones.

Furthermore, key companies in the market are undertaking various strategic initiatives to expand their market presence and product reach. For instance, in February 2023, OneAccord Health, and ADVault Inc. are extending their innovative digital service aimed at empowering end-of-life decisions. This initiative aims to broaden its focus by incorporating more direct-to-consumer engagement. Its goal is to empower healthcare professionals, stakeholders, and the community to participate in discussions about patients' values, goals, and preferences during advance care planning.

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End of Life Planning Market Report Highlights

• Based on service, the estate planning segment held the market with the largest revenue share of 28.74% in 2023. The legal complexities often require professional assistance from lawyers specializing in estate law, making it a lucrative segment

• The advanced healthcare directives segment is expected to grow at the fastest CAGR of 7.09% in the forecast years. There has been an increasing awareness among individuals about the importance of advanced healthcare directives. People are realizing the significance of making decisions about their medical care in advance

• Based on area, the urban segment led the market with the largest revenue share of in 2023, due to Urban areas usually have better access to a wide range of services, including legal, financial, and healthcare services

• The rural segment is expected to grow at the fastest CAGR in the forecast years. The increasing awareness about the end-of-line planning services in the area drive market growth in the forecast period

• Based on demographic, the elderly population segment led the market with a largest revenue share of 73.89% in 2023. As people age, they become more aware of their mortality and the need to plan for end-of-life matters such as estate distribution, healthcare preferences, and funeral arrangements

• North America held the market with the largest revenue share of 35.76% in 2023. The region has well-established legal and financial infrastructures that support end-of-life planning activities. Individuals can access experienced lawyers, financial planners, and other professionals specializing in estate planning and related services

End of Life Planning Market Segmentation

Grand View Research has segmented the global end of life planning market based on service, area, demographic, and regions.

End of Life Planning Service Outlook (Revenue, USD Million, 2018 - 2030)

• Funeral Services

• Estate Planning

• Digital Legacy Services

• Grief Counseling and Support

• Advanced Healthcare Directives

• Others

End of Life Planning Area Outlook (Revenue, USD Million, 2018 - 2030)

• Urban

• Rural

End of Life Planning Demographic Outlook (Revenue, USD Million, 2018 - 2030)

• Elderly Population

• Middle-age Population

• Young Adult

End of Life Planning Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Sweden

  • Norway

  • Denmark

• Asia Pacific

  • Japan

  • China

  • India

  • South Korea

  • Australia

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of End of Life Planning Market

• Everplans

• Cake

• TrustandWill

• Funeralocity

• Gathered Here Pty Ltd.

• Sue Mackey

• Dignity

• Service Corporation International (SCI)

• Death with Dignity

• Eterneva