Life Care Solution Services Market Size

Life Care Solution Services Market size was valued at USD 1.07 Billion in 2023 and is set to cross USD 2.48 Billion by the end of 2036, registering more than 6.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of life care solution services is estimated at USD 1.13 Billion. The growth of the market can be attributed to the increasing number of deaths caused by chronic diseases worldwide. Chronic diseases are being extremely prevalent and considered to be the major cause of death across the globe and it is expected to hike the demand for life care solution services for the better diagnosis and treatment over the forecast period. As per recent estimates, in 2020, around 2 million deaths were caused by lung cancer globally, accounting for the highest number of cancer deaths. Furthermore, it is observed that by 2045, there will be 700 million people living with diabetes across the globe.

Life care solution services enhances the level of care in the hospitals and clinics, thus allowing patients across the world to receive upgraded care. The quick boost in the global market for life care solution services is projected to the significant changes in the competitive landscape and the shift toward value-added service offerings. Further, the rising acute and chronic diseases among the population and escalation in deaths is anticipated to bolster the need of life care solution services. As per statistics shared by the World Health Organization in 2021, it is revealed that non-communicable diseases (NCDs) kill 41 million people each year, which is equivalent to 71% of all deaths globally.