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.
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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.
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
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.
By Product Type
E-prescribing
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
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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
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.
| 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 |
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
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