New Zealand Palliative Care Market Analysis

New Zealand Palliative Care Market Analysis


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The New Zealand Palliative care market is projected to grow from $xx Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. The main factors driving the growth would be the aging population, rise in chronic diseases, technological advancements, and government support. The market is segmented by service type and by the end user. Some of the major players include Hospice Waikato, Arohanui Hospice, Private Care NZ, Nova Health, and Home Instead.

ID: IN10NZHS013 CATEGORY: Healthcare Services GEOGRAPHY: New Zealand AUTHOR: Neha Davda

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New Zealand Palliative Management Market Executive Summary

The New Zealand Palliative care market is projected to grow from $xx Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. As a percentage of GDP, health spending in New Zealand increased to 9.74% in 2019 from 9.21% in 2018, or $4,037 per person. The proportion of New Zealand's GDP allocated to healthcare is typically close to the OECD average.

Palliative care improves the quality of life for those who are facing a terminal illness as well as their relatives. With the help of early pain recognition, accurate pain assessment, and treatment of coexisting disorders including mental, physical, and spiritual ailments, palliative care services seek to both prevent and relieve suffering. Another way that palliative care helps patients and those who are responsible for their care are through fostering collaboration. This entails offering a support system and attending to people's material needs in order to help them live as completely as they can until they die away. For a number of ailments, such as cancer, persistent respiratory disorders, diabetes, renal failure, persistent liver disease, and others, palliative care is essential.

Major palliative care service providers' increased focus on regional expansion into growing Asia-Pacific countries in order to secure a significant market share is anticipated to fuel the growth of the palliative care market in the region.

Market Dynamics

Market Growth Drivers

The New Zealand palliative care market is expected to be driven by a number of factors. Firstly, the need for palliative care services has grown as a result of the nation's aging population and high frequency of chronic diseases. Second, the government has made major expenditures in the healthcare industry, including the construction of specialized palliative care facilities, and has supported the growth of palliative care services. Further, the delivery of hospice and home-based palliative care services has been made possible by technological improvements, making it simpler for patients to receive care in the comfort of their own homes.

Market Restraints

Palliative care is currently poorly standardized, which makes it difficult for patients and their families to understand what services are provided and how to access them. Furthermore, the country's market for palliative care services is constrained by their high cost.

Competitive Landscape

Key Players

  • Hospice Waikato (NZL)
  • Arohanui Hospice (NZL)
  • Private Care NZ (NZL)
  • Nova Health
  • Home Instead

Healthcare Policies and Regulatory Landscape

The Ministry of Health in New Zealand establishes a national health policy and offers direction for the growth of the palliative care business. Numerous healthcare organizations, including hospitals, hospices, and community-based organizations, offer palliative care services. Through the public health system, which provides funding for a variety of treatments, including inpatient and outpatient care, medication, and equipment, the government supports palliative care services.

The Ministry of Health, the Health and Disability Commissioner, and the New Zealand Qualifications Authority are some of the organizations that regulate the New Zealand health industry. These organizations are in charge of establishing standards for healthcare services, making sure that providers adhere to those standards, and overseeing the healthcare system.

Reimbursement Scenario

Palliative care is covered in New Zealand by the Ministry of Health as part of the public health system, also referred to as the publicly funded health and disability sector. Palliative care-related national policies, regulations, and reimbursement practices must be developed and implemented by the Ministry of Health. The National Health Board, a national funding system created to guarantee that patients have access to the care they require, regardless of their ability to pay, provides reimbursement for palliative care services. This system offers a variety of services, such as hospice care, inpatient and outpatient palliative care, and support groups for patients and their families.

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 New Zealand 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 New Zealand palliative care market is divided into the following:

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

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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  • Market size and forecasts from 2022 to 2030
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  • Segmentation and regional revenue forecasts
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Last updated on: 16 February 2023
Updated by: Vidhi Upadhyay

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