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Report Scope & Overview:

The Long-term Care Software Market Size was valued at USD 2.77 billion in 2022, and expected to reach USD 7.33 billion by 2030, and grow at a CAGR of 12.9% over the forecast period 2023-2030.

In hospitals, home care settings, nursing homes, and other healthcare delivery settings, long term care software is the kind of technical service or solution that is utilised to address the requirements of patients and healthcare workers in both clinical and non-clinical areas. These services make operating healthcare facilities simpler and more effective, which lowers healthcare expenses and improves efficiency.

Long-term Care Software Market Revenue Analysis

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In order to improve resident care, uphold compliance, and manage many levels with a single software system, long-term care software integrates electronic health records, billing, and business information. Centralized databases and an easy-to-use visual user interface are two of the main characteristics of long-term care software, and these advantages are what are driving its quick uptake. In addition to properly handling mistakes or failures, the programmes also serve as a sensitive online knowledge base and resource for users.

MARKET DYNAMICS

DRIVERS

  • Increasing Number of Elderly People

  • Lack of medical professionals and nursing staff

  • Reforms In the Healthcare System and Government Programs

RESTRAINTS

  • Resistance to software adoption by traditional long-term care providers

  • High cost of software maintenance

OPPORTUNITIES

  • Remote patient monitoring provides new growth opportunities for the market

  • Cloud software provides exciting opportunities

CHALLENGES

  • Reduced Use of Long-Term Care Software in Developing Nations

IMPACT OF COVID-19

The COVID-19 pandemic had a substantial negative influence on mortality and morbidity among the older population, especially those residing in long-term care facilities (LTCF). In order to track and manage the patients at LTCF impacted by COVID-19, it is necessary to take strong action to reduce the impact of COVID-19 by increasing infection prevention and control (IPC) procedures within LTCF with unique and cutting-edge LTC software and solutions.  Appointed, Simple Track, Contact Connect wearables, and Wastewater testing service are four new cutting-edge solutions that GHD unveiled in November 2020 with the goal of enhancing resident safety in long-term care facilities through contact tracing, appointment scheduling, and early detection of COVID-19 trends.

The long-term care software market is divided into clinical and non-clinical software segments by product. The clinical software category consists of EMR/EHR, electronic prescribing, electronic medication records, medication management, and clinical decision support systems. The non-clinical software section consists of real-time location systems, remote patient monitoring systems, remote training and supervision systems, payroll management, talent management software, billing, invoicing and scheduling software, as well as remote training and supervision systems. On-premise, web-based and cloud-based software are available in the market. Home health care agencies, nursing homes, assisted living facilities, and hospices are the majority of end customers for long-term care software in this research.

KEY MARKET SEGMENTS:

By Product Type

By Deployment Mode

  • On-premise

  • Cloud

By End User

  • Home Healthcare Agencies

  • Hospice Care Facilities

  • Nursing Homes and Assisted Living Facilities

Long-term Care Software Market Segmentation Analysis

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REGIONAL ANALYSIS

North America held the largest share of the long-term care software industry. The market in North America is driven by factors such as an aging population that is aging rapidly and the need to contain rising healthcare costs. Integrated long-term care software is more in demand for administrative and clinical purposes. The demand for long-term care software in this region is expected to grow due to the European Commission's initiatives to promote the use of healthcare IT. However, due to aging population, Asia Pacific is projected to expand at the highest CAGR.

REGIONAL COVERAGE

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

The Major key players are AOD Software, Cerner Corporation, Allscripts Healthcare Solutions, Inc., Health MEDX LLC, MatrixCare, Kronos, Optimus EMR, McKesson Corporation, Omnicare Inc., Sigma Care, Omnicell, Inc, Point Click Care and Other Players.

Kronos-Company Financial Analysis

Long-term Care Software Market Report Scope:
Report Attributes Details
Market Size in 2022 US$ 2.77 Billion
Market Size by 2030 US$ 7.33 Billion
CAGR CAGR of 12.9% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Product Type (Electronic Health Records, E-prescribing, Clinical Decision Support Systems, Real-Time Location Systems, Remote Patient Monitoring Systems, Billing, Invoicing, and Scheduling Software)
• By Deployment Mode (On-premise, Cloud)
• By End User (Home Healthcare Agencies, Hospice Care Facilities, Nursing Homes and Assisted Living Facilities)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles AOD Software, Cerner Corporation, Allscripts Healthcare Solutions, Inc., Health MEDX LLC, MatrixCare, Kronos, Optimus EMR, McKesson Corporation, Omnicare Inc., Sigma Care, Omnicell, Inc, Point Click Care.
DRIVERS • Increasing Number of Elderly People
• Lack of medical professionals and nursing staff
• Reforms In the Healthcare System and Government Programs
RESTRAINTS • Resistance to software adoption by traditional long-term care providers
• High cost of software maintenance

Frequently Asked Questions

Ans: The Long-term Care Software Market Size was valued at US$ 2.77 billion in 2022.

 North America held the largest share of the long-term care software industry.

Ans: The Long-term Care Software Market is growing at a CAGR of 12.9% over the forecast period 2023-2030.

 Key drivers of the Long-term Care Software Market is Lack of medical professionals and nursing staff, and Reforms in the Healthcare System and Government Programs

In hospitals, home care settings, nursing homes, and other healthcare delivery settings, long term care software is the kind of technical service or solution that is utilised to address the requirements of patients and healthcare workers in both clinical and non-clinical areas. 

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

  

8. Long-term Care Software Market Segmentation, By Product Type

8.1 Electronic Health Records

8.2 E-prescribing

8.3 Clinical Decision Support Systems

8.4 Real-Time Location Systems

8.5 Remote Patient Monitoring Systems

8.6 Billing, Invoicing, and Scheduling Software

9. Long-term Care Software Market Segmentation, By Deployment Mode

9.1 On-premise

9.2 Cloud

10. Long-term Care Software Market Segmentation, By End User

10.1 Home Healthcare Agencies

10.2 Hospice Care Facilities

10.3 Nursing Homes and Assisted Living Facilities

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

12. Company Profiles

12.1 AOD Software

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Cerner Corporation

12.3 Allscripts Healthcare Solutions, Inc.

12.4 Health MEDX LLC

12.5 MatrixCare

12.6 Kronos

12.7 Optimus EMR

12.8 McKesson Corporation

12.9 Omnicare Inc.

12.10 Sigma Care

13. Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share Analysis

13.3 Recent Developments

 

14. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

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Data Bank Validation

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