Advance Directives Market
Advance Directives Market Forecasts to 2030 - Global Analysis By Component (Software and Services), Demographics (Young Adults (18-39 yrs), Middle Aged (40-64 yrs) and Elderly Population (> 65 years)), End User and By Geography
According to Stratistics MRC, the Global Advance Directives Market is accounted for $123.00 billion in 2023 and is expected to reach $440.73 billion by 2030 growing at a CAGR of 20% during the forecast period. Advance directives are legal documents that allow individuals to express their preferences for medical treatment in the event they become incapacitated and unable to communicate their wishes. These directives outline specific instructions regarding healthcare decisions, such as the use of life-sustaining treatments or organ donation. They empower individuals to maintain control over their medical care and alleviate the burden on loved ones who may otherwise be tasked with making difficult decisions on their behalf.
Market Dynamics:
Driver:
Aging population
The aging population is a significant driver of the advance directives market due to the increased awareness and demand for end-of-life care planning. As people age, they become more cognizant of their mortality and the importance of making decisions about their medical care in advance. This demographic shift has spurred a greater emphasis on legal documents such as living wills and healthcare proxies, which outline individuals' preferences for medical treatment and appoint trusted individuals to make decisions on their behalf. Healthcare providers and policymakers are also responding to this trend by promoting advance care planning initiatives to ensure that patients' wishes are respected as they age and face complex medical decisions.
Restraint:
Cultural and religious factors
Cultural and religious factors can restrain the advance directive market by influencing individuals' beliefs and attitudes towards end-of-life care. In many cultures, discussions about death and decisions regarding medical treatment are considered taboo or disrespectful. Additionally, religious teachings may dictate specific attitudes towards life-prolonging measures or the autonomy of individuals in making decisions about their own care. Moreover, certain religious doctrines may prioritize communal decision-making or place emphasis on divine intervention, further complicating the acceptance and implementation of advance directives within those communities.
Opportunity:
Legal and regulatory support
The Legal and Regulatory Support Opportunity pertains to ensuring that laws and regulations are in place to protect individuals' rights to make decisions about their healthcare preferences in advance. This includes directives such as living wills and healthcare proxies. Regulatory frameworks ensure that these documents are legally binding and honored by healthcare providers. This opportunity involves developing clear guidelines for drafting, executing, and implementing advance directives, as well as establishing mechanisms for their enforcement.
Threat:
Privacy and security concerns
The advance directives market faces significant privacy and security concerns. These documents contain sensitive personal information, including medical history and end-of-life preferences, making them attractive targets for hackers. Breaches in security could lead to identity theft, medical fraud, or the exploitation of vulnerable individuals. Moreover, privacy breaches could expose individuals to undue influence or coercion regarding their healthcare decisions. Without robust safeguards, the advance directives market risks compromising the autonomy and confidentiality of individuals' healthcare choices.
Covid-19 Impact:
With heightened awareness of mortality and the unpredictability of the virus, there has been an increased demand for advance directives, such as living wills and durable powers of attorney for healthcare. People are more inclined to plan for end-of-life care and make decisions about medical treatment in advance. This surge in demand has led to a growth in services related to advance directives, including online platforms offering document creation and legal advice. Additionally, healthcare providers have emphasized the importance of having advance directives in place, further driving market growth.
The services segment is expected to be the largest during the forecast period
The services segment within has experienced significant growth due to a growing awareness and acceptance of the importance of advance directives among the population, leading to increased demand for related services. Healthcare providers are increasingly emphasizing the need for advanced care planning, resulting in higher utilization of services offered in this segment. Technological advancements have made it easier to access and utilize services related to advanced directives, such as online platforms for creating and managing directives. Furthermore, regulatory changes and healthcare policy reforms have further propelled the growth of this segment by incentivizing providers to offer comprehensive advance care planning services.
The middle aged (40-64 yrs) segment is expected to have the highest CAGR during the forecast period
The middle-aged (40–64 years old) segment has shown substantial growth as individuals within this age range typically become more aware of their mortality and health concerns. They are increasingly proactive in making end-of-life decisions. With advancing medical technology, there is a greater emphasis on ensuring one's wishes are known and respected in cases of incapacitation. Additionally, the sandwich generation phenomenon, where individuals may be simultaneously caring for aging parents and supporting their own children, prompts middle-aged individuals to plan for their own future healthcare needs.
Region with largest share:
The North American region has seen significant growth in the advance directives market due to increasing awareness among individuals about the importance of documenting their healthcare preferences in advance, especially as the population ages. Regulatory changes and healthcare reforms have encouraged the adoption of advance directives as a means to empower patients and ensure their wishes are respected. Technological advancements have also played a crucial role, with the proliferation of digital platforms making it easier for individuals to create, store, and access their advance directives conveniently.
Region with highest CAGR:
The Asia-Pacific region has witnessed significant growth driven by increasing awareness about healthcare options, aging populations, and the desire for patient autonomy in medical decision-making are key contributors. Advancements in healthcare infrastructure and technology have made it easier for individuals to create and manage advance directives. Government initiatives promoting end-of-life care and legal frameworks supporting advance directives have further fueled market expansion. Furthermore, cultural shifts towards individual empowerment in healthcare choices also play a role, encouraging more people to plan their medical preferences in advance.
Key players in the market
Some of the key players in Advance Directives market include ACP Decisions, ADvault, Inc, Affirm Health Inc, Bronson Health Care Group Inc, Honor My Decisions, Iris Healthcare, Island Health, Koda Health, New Century Health, Sharp HealthCare, Thanacare, ThroughCare, Vital Decisions LLC, VyncaCare and WiserCare Inc.
Key Developments:
In August 2023, Health system prepares to open $18M orthopedic surgery center near Kalamazoo. A new $18 million orthopedic surgery center adds another component to a broader outpatient medical campus that Bronson Healthcare plans to develop over the next decade or more. Bronson Heathcare recently completed construction on the 18,000-square-foot orthopedic surgery center on Beatrice Drive in the Bronson Health Village at I-94 and 9th Street in Texas Township.
In May 2023, Island Health launches dedicated North Vancouver Island transportation service. The new service, established as part of the Province’s $30 million investment to stabilize and improve health-care services in North Vancouver Island (NVI), provides vital transportation, five days per week, to people accessing Port Hardy Hospital (PHH), Port McNeill Hospital (PMH) and Port Alice Health Centre (PAHC).
Components Covered:
• Software
• Services
Demographics Covered:
• Young Adults (18-39 years)
• Middle Aged (40-64 years)
• Elderly Population (> 65 years)
End Users Covered:
• Business to business
• Business to customer
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Advance Directives Market, By Component
5.1 Introduction
5.2 Software
5.3 Services
6 Global Advance Directives Market, By Demographics
6.1 Introduction
6.2 Young Adults (18-39 years)
6.3 Middle Aged (40-64 years)
6.4 Elderly Population (> 65 years)
7 Global Advance Directives Market, By End User
7.1 Introduction
7.2 Business to business
7.2.1 Payers
7.2.2 Providers
7.3 Business to customer
7.3.1 Patients
7.3.2 Caregivers
7.4 Other End Users
8 Global Advance Directives Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 ACP Decisions
10.2 ADvault, Inc.
10.3 Affirm Health Inc.
10.4 Bronson Health Care Group Inc.
10.5 Honor My Decisions
10.6 Iris Healthcare
10.7 Island Health
10.8 Koda Health
10.9 New Century Health
10.10 Sharp HealthCare
10.11 Thanacare
10.12 ThroughCare
10.13 Vital Decisions LLC
10.14 VyncaCare
10.15 WiserCare Inc.
List of Tables
1 Global Advance Directives Market Outlook, By Region (2021-2030) ($MN)
2 Global Advance Directives Market Outlook, By Component (2021-2030) ($MN)
3 Global Advance Directives Market Outlook, By Software (2021-2030) ($MN)
4 Global Advance Directives Market Outlook, By Services (2021-2030) ($MN)
5 Global Advance Directives Market Outlook, By Demographics (2021-2030) ($MN)
6 Global Advance Directives Market Outlook, By Young Adults (18-39 years) (2021-2030) ($MN)
7 Global Advance Directives Market Outlook, By Middle Aged (40-64 years) (2021-2030) ($MN)
8 Global Advance Directives Market Outlook, By Elderly Population (> 65 years) (2021-2030) ($MN)
9 Global Advance Directives Market Outlook, By End User (2021-2030) ($MN)
10 Global Advance Directives Market Outlook, By B2B (2021-2030) ($MN)
11 Global Advance Directives Market Outlook, By Payers (2021-2030) ($MN)
12 Global Advance Directives Market Outlook, By Providers (2021-2030) ($MN)
13 Global Advance Directives Market Outlook, By B2C (2021-2030) ($MN)
14 Global Advance Directives Market Outlook, By Patients (2021-2030) ($MN)
15 Global Advance Directives Market Outlook, By Caregivers (2021-2030) ($MN)
16 North America Advance Directives Market Outlook, By Country (2021-2030) ($MN)
17 North America Advance Directives Market Outlook, By Component (2021-2030) ($MN)
18 North America Advance Directives Market Outlook, By Software (2021-2030) ($MN)
19 North America Advance Directives Market Outlook, By Services (2021-2030) ($MN)
20 North America Advance Directives Market Outlook, By Demographics (2021-2030) ($MN)
21 North America Advance Directives Market Outlook, By Young Adults (18-39 years) (2021-2030) ($MN)
22 North America Advance Directives Market Outlook, By Middle Aged (40-64 years) (2021-2030) ($MN)
23 North America Advance Directives Market Outlook, By Elderly Population (> 65 years) (2021-2030) ($MN)
24 North America Advance Directives Market Outlook, By End User (2021-2030) ($MN)
25 North America Advance Directives Market Outlook, By B2B (2021-2030) ($MN)
26 North America Advance Directives Market Outlook, By Payers (2021-2030) ($MN)
27 North America Advance Directives Market Outlook, By Providers (2021-2030) ($MN)
28 North America Advance Directives Market Outlook, By B2C (2021-2030) ($MN)
29 North America Advance Directives Market Outlook, By Patients (2021-2030) ($MN)
30 North America Advance Directives Market Outlook, By Caregivers (2021-2030) ($MN)
31 Europe Advance Directives Market Outlook, By Country (2021-2030) ($MN)
32 Europe Advance Directives Market Outlook, By Component (2021-2030) ($MN)
33 Europe Advance Directives Market Outlook, By Software (2021-2030) ($MN)
34 Europe Advance Directives Market Outlook, By Services (2021-2030) ($MN)
35 Europe Advance Directives Market Outlook, By Demographics (2021-2030) ($MN)
36 Europe Advance Directives Market Outlook, By Young Adults (18-39 years) (2021-2030) ($MN)
37 Europe Advance Directives Market Outlook, By Middle Aged (40-64 years) (2021-2030) ($MN)
38 Europe Advance Directives Market Outlook, By Elderly Population (> 65 years) (2021-2030) ($MN)
39 Europe Advance Directives Market Outlook, By End User (2021-2030) ($MN)
40 Europe Advance Directives Market Outlook, By B2B (2021-2030) ($MN)
41 Europe Advance Directives Market Outlook, By Payers (2021-2030) ($MN)
42 Europe Advance Directives Market Outlook, By Providers (2021-2030) ($MN)
43 Europe Advance Directives Market Outlook, By B2C (2021-2030) ($MN)
44 Europe Advance Directives Market Outlook, By Patients (2021-2030) ($MN)
45 Europe Advance Directives Market Outlook, By Caregivers (2021-2030) ($MN)
46 Asia Pacific Advance Directives Market Outlook, By Country (2021-2030) ($MN)
47 Asia Pacific Advance Directives Market Outlook, By Component (2021-2030) ($MN)
48 Asia Pacific Advance Directives Market Outlook, By Software (2021-2030) ($MN)
49 Asia Pacific Advance Directives Market Outlook, By Services (2021-2030) ($MN)
50 Asia Pacific Advance Directives Market Outlook, By Demographics (2021-2030) ($MN)
51 Asia Pacific Advance Directives Market Outlook, By Young Adults (18-39 years) (2021-2030) ($MN)
52 Asia Pacific Advance Directives Market Outlook, By Middle Aged (40-64 years) (2021-2030) ($MN)
53 Asia Pacific Advance Directives Market Outlook, By Elderly Population (> 65 years) (2021-2030) ($MN)
54 Asia Pacific Advance Directives Market Outlook, By End User (2021-2030) ($MN)
55 Asia Pacific Advance Directives Market Outlook, By B2B (2021-2030) ($MN)
56 Asia Pacific Advance Directives Market Outlook, By Payers (2021-2030) ($MN)
57 Asia Pacific Advance Directives Market Outlook, By Providers (2021-2030) ($MN)
58 Asia Pacific Advance Directives Market Outlook, By B2C (2021-2030) ($MN)
59 Asia Pacific Advance Directives Market Outlook, By Patients (2021-2030) ($MN)
60 Asia Pacific Advance Directives Market Outlook, By Caregivers (2021-2030) ($MN)
61 South America Advance Directives Market Outlook, By Country (2021-2030) ($MN)
62 South America Advance Directives Market Outlook, By Component (2021-2030) ($MN)
63 South America Advance Directives Market Outlook, By Software (2021-2030) ($MN)
64 South America Advance Directives Market Outlook, By Services (2021-2030) ($MN)
65 South America Advance Directives Market Outlook, By Demographics (2021-2030) ($MN)
66 South America Advance Directives Market Outlook, By Young Adults (18-39 years) (2021-2030) ($MN)
67 South America Advance Directives Market Outlook, By Middle Aged (40-64 years) (2021-2030) ($MN)
68 South America Advance Directives Market Outlook, By Elderly Population (> 65 years) (2021-2030) ($MN)
69 South America Advance Directives Market Outlook, By End User (2021-2030) ($MN)
70 South America Advance Directives Market Outlook, By B2B (2021-2030) ($MN)
71 South America Advance Directives Market Outlook, By Payers (2021-2030) ($MN)
72 South America Advance Directives Market Outlook, By Providers (2021-2030) ($MN)
73 South America Advance Directives Market Outlook, By B2C (2021-2030) ($MN)
74 South America Advance Directives Market Outlook, By Patients (2021-2030) ($MN)
75 South America Advance Directives Market Outlook, By Caregivers (2021-2030) ($MN)
76 Middle East & Africa Advance Directives Market Outlook, By Country (2021-2030) ($MN)
77 Middle East & Africa Advance Directives Market Outlook, By Component (2021-2030) ($MN)
78 Middle East & Africa Advance Directives Market Outlook, By Software (2021-2030) ($MN)
79 Middle East & Africa Advance Directives Market Outlook, By Services (2021-2030) ($MN)
80 Middle East & Africa Advance Directives Market Outlook, By Demographics (2021-2030) ($MN)
81 Middle East & Africa Advance Directives Market Outlook, By Young Adults (18-39 years) (2021-2030) ($MN)
82 Middle East & Africa Advance Directives Market Outlook, By Middle Aged (40-64 years) (2021-2030) ($MN)
83 Middle East & Africa Advance Directives Market Outlook, By Elderly Population (> 65 years) (2021-2030) ($MN)
84 Middle East & Africa Advance Directives Market Outlook, By End User (2021-2030) ($MN)
85 Middle East & Africa Advance Directives Market Outlook, By B2B (2021-2030) ($MN)
86 Middle East & Africa Advance Directives Market Outlook, By Payers (2021-2030) ($MN)
87 Middle East & Africa Advance Directives Market Outlook, By Providers (2021-2030) ($MN)
88 Middle East & Africa Advance Directives Market Outlook, By B2C (2021-2030) ($MN)
89 Middle East & Africa Advance Directives Market Outlook, By Patients (2021-2030) ($MN)
90 Middle East & Africa Advance Directives Market Outlook, By Caregivers (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.
WHY CHOOSE US ?
Assured Quality
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Free Customization
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.
