Advance Directives Global Market Report 2024

Description

Advance directives are legal documents that enable individuals to express their healthcare preferences in case they become unable to do so themselves. These documents offer guidance to healthcare providers and loved ones about the medical treatments the person wishes to accept or refuse, ensuring their healthcare decisions are respected.

The main components of advance directives include software and services. In this context, software refers to digital tools that help individuals create, manage, and store their end-of-life care preferences and legal documents electronically. The involved demographics include the elderly (over 65 years), middle-aged adults (40 to 64 years), and young adults (18 to 39 years). These directives are used by various end users, including businesses, individual consumers, and others.

The advance directives market research report is one of a series of new reports from The Business Research Company that provides advance directives market statistics, including advance directives industry global market size, regional shares, competitors with an advance directives market share, detailed advance directives market segments, market trends and opportunities, and any further data you may need to thrive in the advance directives industry. This advance directives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The advance directives market size has grown exponentially in recent years. It will grow from $130.74 billion in 2023 to $159.03 billion in 2024 at a compound annual growth rate (CAGR) of 21.6%. The growth during the historic period can be attributed to several factors, increased awareness of patient rights, expansion of palliative and hospice care services, heightened advocacy by healthcare professionals, the growing involvement of caregivers and families, and more research and data on end-of-life care.

The advance directives market size is expected to see exponential growth in the next few years. It will grow to $350.94 billion in 2028 at a compound annual growth rate (CAGR) of 21.9%. The growth in the forecast period can be attributed to rising investments in advance care planning, a growing proportion of the aging population, increased prevalence of chronic and life-limiting illnesses, a higher incidence of dementia, and a stronger focus on data security. Major trends expected during this period include technological advancements, the digitalization of advance directives, integration with electronic health records, cultural tailoring of advance care planning, and the expansion of telehealth services.

The increased prevalence of chronic and life-limiting illnesses is expected to drive the growth of the advance directives market in the future. Chronic and life-limiting illnesses are conditions that persist over time and significantly reduce lifespan and quality of life. This increased prevalence can be attributed to various factors, including genetic predispositions, lifestyle choices, and an aging population. In the context of these illnesses, advance directives are crucial for ensuring healthcare aligns with individual values and preferences. They enhance patient autonomy, alleviate family burdens, improve communication, and provide legal safeguards, ultimately enhancing the quality of care for those facing serious illnesses. For example, in January 2023, the American Cancer Society, a US-based nonprofit cancer advocacy organization, reported an increase in cancer cases to 1,958,310, a 3.16% rise from 1,898,160 in 2021. Additionally, in July 2021, the International Diabetes Federation, a Belgium-based non-governmental organization, estimated that the number of adults with diabetes was 537 million in 2021, projected to increase to 783 million by 2045. Therefore, the rising prevalence of chronic and life-limiting illnesses is propelling the growth of the advance directives market.

Major companies in the advance directives market are focusing on introducing advanced technological solutions, such as online portals or websites, to provide comprehensive information about advance directives and gain a competitive edge. A dedicated advance directives website offers essential tools and information to help individuals legally document their healthcare wishes for future medical situations. For instance, in February 2022, Health Current, a US-based health information exchange company, launched AzHDR.org, the website for the Arizona Healthcare Directives Registry (AzHDR), an online repository for storing and accessing advance directives. This website facilitates communication between healthcare providers, end-of-life decision-making professionals, and patients. Its primary functions include allowing users to initiate end-of-life care discussions, obtain advance directive paperwork, and securely register healthcare preferences. The AzHDR was created to ensure that patients' healthcare preferences are honored throughout their medical care, especially when they are unable to express their wishes due to incapacity.

In January 2022, Aledade Inc., a US-based health technology company, acquired Iris Healthcare Technologies Private Limited for an undisclosed amount. This acquisition aims to enhance Aledade Inc.'s value-based care offerings by integrating comprehensive advance care planning (ACP) solutions, thereby improving patient outcomes and satisfaction by ensuring care aligns with individual preferences and values, particularly in managing chronic and serious illnesses. Iris Healthcare Technologies is a US-based healthcare technology company specializing in providing advance directives.

Major companies operating in the advance directives market are Kaiser Foundation Health Plan Inc., Providence Health & Services , Lantern Health Inc., Dignity Health, Geisinger Health Plan, Sharp HealthCare, Island Health Authority, Bronson Healthcare Group Inc., Affirm Health Inc., LegalZoom.com Inc., National Hospice and Palliative Care Organization, Vital Decisions LLC, Caring Conversations LLC, Trust & Will Inc., Tulip Cremation, Advance Care Planning Australia Ltd, ThroughCare Inc., DocuBank Ltd., Everplans Inc., ADVault Inc., OneAccord Health LLC, GoodTrust Corporation, Thanacare Pty Ltd, Cake Software Inc., WiserCare Inc.

North America was the largest region in the advance directives market in 2023. The regions covered in the advance directives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the advance directives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The advance directives market includes revenues earned by entities by legal services, healthcare services, and documentation services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Advance Directives Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on advance directives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
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Where is the largest and fastest growing market for advance directives ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The advance directives market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Component: Software; Services
2) By Demographics: Elderly Population (More Than 65 years); Middle Aged (40 To 64 years); Young Adults (18 To 39 years)
3) By End User: Business To Business; Business To Customer; Other End Users
Companies Mentioned: Kaiser Foundation Health Plan Inc.; Providence Health & Services; Lantern Health Inc.; Dignity Health; Geisinger Health Plan
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r18268

1. Executive Summary

2. Advance Directives Market Characteristics

3. Advance Directives Market Trends And Strategies

4. Advance Directives Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Advance Directives Market Size and Growth

5.1. Global Advance Directives Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Advance Directives Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Advance Directives Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Advance Directives Market Segmentation

6.1. Global Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Software
Services
6.2. Global Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Elderly Population (More Then 65 years)
Middle Aged (40 To 64 years)
Young Adults (18 To 39 years)
6.3. Global Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Business To Business
Business To Customer
Other End Users

7. Advance Directives Market Regional And Country Analysis

7.1. Global Advance Directives Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Advance Directives Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Advance Directives Market

8.1. Asia-Pacific Advance Directives Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Advance Directives Market

9.1. China Advance Directives Market Overview
9.2. China Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Advance Directives Market

10.1. India Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Advance Directives Market

11.1. Japan Advance Directives Market Overview
11.2. Japan Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Advance Directives Market

12.1. Australia Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Advance Directives Market

13.1. Indonesia Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Advance Directives Market

14.1. South Korea Advance Directives Market Overview
14.2. South Korea Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Advance Directives Market

15.1. Western Europe Advance Directives Market Overview
15.2. Western Europe Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Advance Directives Market

16.1. UK Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Advance Directives Market

17.1. Germany Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Advance Directives Market

18.1. France Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Advance Directives Market

19.1. Italy Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Advance Directives Market

20.1. Spain Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Advance Directives Market

21.1. Eastern Europe Advance Directives Market Overview
21.2. Eastern Europe Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Advance Directives Market

22.1. Russia Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Advance Directives Market

23.1. North America Advance Directives Market Overview
23.2. North America Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Advance Directives Market

24.1. USA Advance Directives Market Overview
24.2. USA Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Advance Directives Market

25.1. Canada Advance Directives Market Overview
25.2. Canada Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Advance Directives Market

26.1. South America Advance Directives Market Overview
26.2. South America Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Advance Directives Market

27.1. Brazil Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Advance Directives Market

28.1. Middle East Advance Directives Market Overview
28.2. Middle East Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Advance Directives Market

29.1. Africa Advance Directives Market Overview
29.2. Africa Advance Directives Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Advance Directives Market, Segmentation By Demographics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Advance Directives Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Advance Directives Market Competitive Landscape And Company Profiles

30.1. Advance Directives Market Competitive Landscape
30.2. Advance Directives Market Company Profiles
- 30.2.1. Kaiser Foundation Health Plan Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Providence Health & Services
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Lantern Health Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Dignity Health
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Geisinger Health Plan
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Advance Directives Market Other Major And Innovative Companies

31.1. Sharp HealthCare
31.2. Island Health Authority
31.3. Bronson Healthcare Group Inc.
31.4. Affirm Health Inc.
31.5. LegalZoom.com Inc.
31.6. National Hospice and Palliative Care Organization
31.7. Vital Decisions LLC
31.8. Caring Conversations LLC
31.9. Trust & Will Inc.
31.10. Tulip Cremation
31.11. Advance Care Planning Australia Ltd
31.12. ThroughCare Inc.
31.13. DocuBank Ltd.
31.14. Everplans Inc.
31.15. ADVault Inc.

32. Global Advance Directives Market Competitive Benchmarking

33. Global Advance Directives Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Advance Directives Market

35. Advance Directives Market Future Outlook and Potential Analysis

35.1 Advance Directives Market In 2028 - Countries Offering Most New Opportunities
35.2 Advance Directives Market In 2028 - Segments Offering Most New Opportunities
35.3 Advance Directives Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer