The Home Healthcare Software Market was worth US$ 3.4 Billion in the year 2021 and is expected to reach US$ 8.1 Billion by the year 2032 at a CAGR of 8.4% between 2022 and 2032.
With rise in healthcare spending in the developed as well as developing economies, the global home healthcare software market is expected to expedite in the near future. The elderly population is subject to numerous serious disorders; which calls for higher demand for home healthcare software. Home healthcare software comes across as one of the advanced tools that are simple to use, do offer precise medical information, is pocket-friendly, and does deliver improvized patient care.
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Telehealth solutions are holding the major market share with governments increasingly investing in these solutions. On these grounds, the government of Canada, in the year 2021, did announce investing US$ 3.5 Million in virtual healthcare in Prince Edward Island province.
Hospice services are preferred for palliative care. For example – they are used to prevent or relieve cancer symptoms and also to treat side-effects. Hospice software solutions do make way for clinical functionality, reporting, billing, scheduling, generating custom forms, staffing, and likewise. Along these lines, Homecare HomebaseSM (HCHB), in May 2020, did team up with MUSE Healthcare of St. Paul for doling out a new product to make enhanced preparations and render improved production for the hospice patients in concluding 7-12 days of their lives by using sophisticated modelling with ML (machine learning).
At the same time, the fact that under-developed economies are devoid of awareness on this count. This factor may apply brakes to the home healthcare software market in the forecast period.
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Future Market Insights has walked through these findings with future perspectives in its latest market study entitled ‘Home Healthcare Software market’. Its team of analysts and consultants is there to execute with bottom-up approach in its primary, secondary, and tertiary modes of research.
“With healthcare IT sector flourishing, the global home healthcare software market is likely to grow atrociously in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Home Healthcare Software Market
- North America holds the largest market share. This could be credited to continuous updation of healthcare infrastructure coupled with growing geriatric population all over the US.
- Europe holds the second-largest market share with home healthcare software services being increasingly adopted to treat several diseases.
- The Asia-Pacific is expected to grow at a fast pace in the home healthcare software market in the near future due to increasing awareness about importance of home healthcare software, especially in the post-pandemic era.
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Competitive Software
- Axxess, in march 2022, did launch an entirely independent palliative care software solution called ‘Axxess Palliative Care’ is amongst the latest innovations in its suite of the solutions providing care in home.
- Aveanna Healthcare, in May 2022, officially confirmed adopting Homecare Homebase and Medalogix platforms all through its homme health and hospice division.
- Healthcare Provider Solutions, in the year 2020, did announce that it had completed acquisition of home care and hospice coding and clinical consulting provider – ‘5 Star Consultants LLC’.
- Simone Healthcare Consultants, LLC, in 2020, announced a merger with Home Health Solutions, LLC for collaborating on consulting and coding services for community- and home-based care.
What does the Report say?
- The research study is based on product (clinical management systems, hospice systems, agency software systems, and tele-health systems), by usage (clinical homecare systems and noon-clinical homecare systems), by delivery mode (web-based software, on-premises software, and cloud-based software), and by end-user (hospice agencies, homecare agencies, private duty, and others).
- Development of healthcare IT infrastructure is expected to drive the home healthcare software market in the near future.
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Key Players
- GE Healthcare
- NextGen Healthcare Information System LLC
- MEDITECH
- Siemens Healthcare
- Agfa Healthcare
- Medical Information Technology, Inc. (Meditech)
- Mckesson Corporation
- Cerner Corporation
- Allscripts Healthcare Solutions, Inc.
- AlayaCare USA, Inc
Key Segments Covered in the Home Healthcare Software Industry Survey
By Product:
- Clinical Management Systems
- Hospice Systems
- Agency Software Systems
- Tele-Health Systems
By Usage:
- Clinical Homecare Systems
- Non-clinical Homecare Systems
By Delivery Mode:
- Web-based Software
- On-premises Software
- Cloud-based Software
By End User:
- Hospice Agencies
- Homecare Agencies
- Private Duty
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East and Africa (MEA)
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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