Rising geriatric population drives $510b advance directives market forecast

The elderly population accounts for the largest share of the market.

The global advance directives market was valued at $121.7b in 2023 and is projected to reach $510.2b by 2033, according to a report by Allied Market Research.

The market growth is driven by rising investments in advance care planning, a growing global geriatric population, and increasing awareness about the importance of advance directives.

These legally binding documents allow individuals to specify their medical treatment preferences in case they are unable to communicate their decisions.

The services segment held the largest market share in 2023. The growth is attributed to increased availability of professional support services, including healthcare providers, legal advisors, and digital platforms that assist individuals in drafting and filing advance directives.

The elderly population accounts for the largest share of the market. Higher rates of chronic diseases and age-related health risks are driving adoption amongst older adults.

Healthcare providers represent the largest end-user segment. Hospitals, clinics, and long-term care facilities are increasingly integrating advance directives into routine care and encouraging documentation during admissions and check-ups.

North America is expected to maintain market dominance through 2033, supported by strong healthcare infrastructure, regulatory support, and integration with electronic health record systems.

Asia-Pacific and Europe are also experiencing significant growth. Expansion in Asia-Pacific is driven by increased healthcare investment and a rapidly aging population, whilst Europe’s growth is supported by progressive end-of-life care policies and a focus on patient rights.