Long-term Care Software Market Size, Growth

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Global Long-term Care Software Market Size, Share, Trends, COVID-19 Impact and Growth Analysis Report – Segmented By Product (Clinical Software, Non-clinical Software), Mode of Delivery, End User and Region - Industry Forecast (2022 to 2027)

Published: January, 2022

ID: 5591

Pages: 175

Long-term Care Software Market Size (2022 to 2027)

As per our report, the size of the global long-term care software market is estimated to grow USD 3.73 Billion by 2027 from USD 2.07 Billion in 2022, growing at a CAGR of 12.5% during the forecast period.

Long-term care is a clinical service that helps both the medical and non-medical needs of people with a disability or chronic diseases who cannot care for themselves. It is concentrated on individualized and coordinated services that give the patient independence, quality of life and provide services to patient needs from time to time. Long-term care levels include day programs, home care, nursing home, senior housing, continuing care retirement communities, and assisted living.

The long-term software is fully integrated with electronic health records and other non-clinical solutions to increase patient care, decrease labor costs, and maintain compliance. Data is entered into the software, where it programs and flows through the system for various facilities. It helps provide consolidated reports for multiple facilities, offers good quality care with accurate information, saves time, automatic inter-facility accounting, boosts efficiency and productivity, maintains records over long periods, and reduces the risk of redundancy, eliminating inconsistencies in the documentation.

MARKET DRIVERS:

An increase in the aging population, rising prevalence of chronic diseases, the shortage of skilled nursing personnel, rise in disposable income are majorly promoting the growth rate of the global long-term care software market.

Healthcare reforms and government initiatives, the aging population, and the Growing Burden of Chronic Diseases, a growing shortage of nurses and doctors, a growing need to reduce healthcare costs, a growing need to raise awareness about diseases, improving healthcare infrastructure, changing demographic trends, and rising government funding are expected to boost to the expansion of the long-term care software market. Population trends, a lack of healthcare specialists, and numerous government programs worldwide to reduce medical expenditures are other factors expected to accelerate the market's growth rate. To control and monitor such a large proportion of the elderly population who are susceptible to any chronic condition at any time, even if the disease has only occurred once, it is critical to have them monitored at-home care, nursing facilities, community centers, and assisted living facilities. The need for software and equipment to connect to these centers and patients becomes a requirement and thus serves as one of the market's primary drivers.

Based on the current situation of lockdown in some countries owing to the outbreak of COVID-19, the usage of EHR systems is expected to aid in the monitoring and treatment of diseases in people who require regular consultations with doctors to check their health state. EHRs(Electronic Health Records) are extremely beneficial in document management, quality outcomes, and health outcomes. The increase in productivity in the healthcare center was noticed during a two-year period. Increasing governmental and private financial incentives for EHR adoption propels the whole EHR market forward while also positively benefiting long-term care EHR solutions.

MARKET RESTRAINTS:

However, lack of awareness, high software maintenance costs, the reluctance of conventional LTC providers to adopt software, and insufficient government initiatives in developing countries are restraining the growth of the long-term care software market. Increased software maintenance costs and the rising reluctance of traditional long-term care providers to adopt software are the major factors that are expected to hinder the market growth. In contrast, lower adoption of long-term care software in developing countries is further anticipated to challenge the market's growth in the forecast period.

Impact of COVID-19 on the global long-term care software market:

The COVID 19 is a new disease caused by the SARS-CoV-2 and has spread to every corner of the world, affecting millions of people leaving them to death. The pandemic has created a positive impact on the long-term care software market. During this situation, people visiting the hospitals have reduced to avoid the spread of the disease. Meeting their consult physicians has been decreased, and remote-patient consultations have rapidly accelerated. This way of approaching their professionals has become easy around the globe. As a result, long-term care software market shares are expected to hit the highest CAGR in 2021.

REPORT COVERAGE:

REPORT METRIC	DETAILS
Market Size Available	2021 to 2027
Base Year	2021
Forecast Period	2022 to 2027
Segments Analysed	By Product, Mode of Delivery, End-User, and Region
Various Analyses Covered	Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
Regions Analysed	North America, Europe, Asia Pacific, Latin America, Middle East & Africa

This research report on the global long-term care software market has been segmented based on the product, mode of delivery, end-user, and region.

Long-term Care Software Market – By Product:

Clinical Long Term Care Software
- EMR/HER
- e-Prescribing
- Electronic Medication Administration Records
- Clinical Decision Support Systems
Non-clinical Long Term Care Software
Payroll Management And Billing
- Remote Patient Monitoring Systems
- Real-Time Location Systems
- Remote Training And Supervision Systems
- Invoicing And Scheduling Software

The e-prescribing segment is anticipated to show a healthy CAGR during the forecast period based on the product. Electronic prescription is a new way of entering prescription information into a computer or mobile application and transferring it to pharmacies where it can be dispensed. E-prescribing helps healthcare providers monitor prescription processing, warn patients about allergies, track prescriptions of controlled substances, increase medication adherence, etc. E-prescribing's advantages over other traditional methods contribute to the growth of the software market for long-term care.

Long-term Care Software Market – By Mode of delivery:

Cloud-based
Web-based
On-premises

The cloud-based segment is anticipated to grow with the fastest CAGR throughout the forecast period based on the delivery mode. Remote monitoring of patients and cloud-based software will help create opportunities for the worldwide market for long-term care technology. In addition, some of the global long-term care software market trends are growing demand for cloud-based solutions, partnerships and collaborations, and new product launches.

Long-term Care Software Market – By End-user:

Home Healthcare
Nursing care
Assisted Living Facilities

Long-term Care Software Market – By Region:

North America
Europe
Asia Pacific
Latin America
The Middle East and Africa

Regionally, the global long-term care software market was dominated by North America in 2020. The presence of significant players in the region and the expanding acceptance of long-term care software is attributed to the region's rapid growth. In North America, the United States holds the largest market share. This is owing to a high rate of adoption of new technological software services across the country. The Drug Enforcement Administration (DEA), for example, has made it possible for doctors to make prescriptions for restricted narcotics electronically. This reduces prescription errors caused by illegible handwritten prescriptions. Similarly, on a national level, the National Institute on Aging (NIA) assists in conducting and funding research on aging and the health and well-being of older people. Because of the growing senior population and the desire to reduce healthcare expenses in the region, North America dominates the global market for long-term care software. The National Association of States United for Aging and Disabilities (NASUAD), Minnesota's Long-Term Care Choices Navigator, Massachusetts Department of Elder Affairs, and the Geo Foundation are just a few state-level pprograms

Due to rapid expansion in the healthcare sector and significant adoption of web-based and cloud-based long-term care software in emerging nations, Asia-Pacific and Europe are likely to lead the long-term care software market in terms of growth. The Asian market is predicted to grow rapidly in the next five years, with China and India being the fastest rising markets in the area.

KEY MARKET PARTICIPANTS:

Some of the notable companies leading the global long-term care software market profiled in the report are AOD Software, Cerner Corporation, Allscripts Healthcare Solutions, Inc., McKesson Corporation, Omnicare, Inc., Omnicell, Inc., Kronos incorporated, HealthMEDX, PointClickCare, Matrix Care, Sigma Care, and Optimus EMR.

RECENT MARKET DEVELOPMENTS:

In 2019, EPSi, the leading budgeting, planning / predicting, cost accounting, and financial decision support system for Allscripts announced a new marketplace advanced analytics product and services solution. Advanced Analytics platform offers additional visualizations of business intelligence "out of the box" that will allow hospital decision-makers to analyze current performance, using the flexible data model from EPSi to integrate a wide variety of clinical, financial, and operational data.

1. Introduction

1.1 Market Definition

1.2 Study Deliverables

1.3 Base Currency, Base Year and Forecast Periods

1.4 General Study Assumptions

2. Research Methodology

2.1 Introduction

2.2 Research Phases

2.2.1 Secondary Research

2.2.2 Primary Research

2.2.3 Econometric Modelling

2.2.4 Expert Validation

2.3 Analysis Design

2.4 Study Timeline

3. Overview

3.1 Executive Summary

3.2 Key Inferences

3.3 Epidemology

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)

4.1 Market Drivers

4.2 Market Restraints

4.3 Key Challenges

4.4 Current Opportunities in the Market

5. Market Segmentation

5.1 Product

5.1.1 Introduction

5.1.2 Clinical software

5.1.2.1 EMR/HER

5.1.2.2 e-Prescribing

5.1.2.3 Electronic medication administration records

5.1.2.4 Clinical decision support systems

5.1.3 Non-clinical software

5.1.3.1 Payroll management and billing

5.1.3.2 Remote patient monitoring systems

5.1.3.3 Real-time location systems

5.1.3.4 Remote training and supervision systems

5.1.3.5 Invoicing and scheduling software

5.1.4 Y-o-Y Growth Analysis, By Product

5.1.5 Market Attractiveness Analysis, By Product

5.1.6 Market Share Analysis, By Product

5.2 Mode of delivery

5.2.1 Introduction

5.2.2 Cloud-based

5.2.3 Web-based

5.2.4 On-premises

5.2.5 Y-o-Y Growth Analysis, By Mode of delivery

5.2.6 Market Attractiveness Analysis, By Mode of delivery

5.2.7 Market Share Analysis, By Mode of delivery

5.3 End-user

5.3.1 Introduction

5.3.2 Home Healthcare

5.3.3 Nursing care

5.3.4 Assisted Living Facilities

5.3.5 Y-o-Y Growth Analysis, By End-user

5.3.6 Market Attractiveness Analysis, By End-user

5.3.7 Market Share Analysis, By End-user

6. Geographical Analysis

6.1 Introduction

6.1.1 Regional Trends

6.1.2 Impact Analysis

6.1.3 Y-o-Y Growth Analysis

6.1.3.1 By Geographical Area

6.1.3.2 By Product

6.1.3.3 By Mode of delivery

6.1.3.4 By End-user

6.1.4 Market Attractiveness Analysis

6.1.4.1 By Geographical Area

6.1.4.2 By Product

6.1.4.3 By Mode of delivery

6.1.4.4 By End-user

6.1.5 Market Share Analysis

6.1.5.1 By Geographical Area

6.1.5.2 By Product

6.1.5.3 By Mode of delivery

6.1.5.4 By End-user

6.2 North America

6.1.1 Introduction

6.1.2 United States

6.1.3 Canada

6.3 Europe

6.2.1 Introduction

6.2.2 U.K

6.2.3 Spain

6.2.4 Germany

6.2.5 Italy

6.2.6 France

6.4 Asia-Pacific

6.3.1 Introduction

6.3.2 China

6.3.3 India

6.3.4 Japan

6.3.5 Australia

6.3.6 South Korea

6.5 Latin America

6.4.1 Introduction

6.4.2 Brazil

6.4.3 Argentina

6.4.4 Mexico

6.4.5 Rest of Latin America

6.6 Middle East & Africa

6.5.1 Introduction

6.5.2 Middle-East

6.5.3 Africa

7. Strategic Analysis

7.1 PESTLE analysis

7.1.1 Political

7.1.2 Economic

7.1.3 Social

7.1.4 Technological

7.1.5 Legal

7.1.6 Environmental

7.2 Porter’s Five analysis

7.2.1 Bargaining Power of Suppliers

7.2.2 Bargaining Power of Consumers

7.2.3 Threat of New Entrants

7.2.4 Threat of Substitute Products and Services

7.2.5 Competitive Rivalry within the Industry

8. Market Leaders' Analysis

8.1 AOD Software

8.1.1 Overview

8.1.2 Product Analysis

8.1.3 Financial analysis

8.1.4 Recent Developments

8.1.5 SWOT analysis

8.1.6 Analyst View

8.2 Cerner Corporation

8.3 Allscripts Healthcare Solutions, Inc.,

8.4 McKesson Corporation

8.5 Omnicare, Inc.,

8.6 Omnicell, Inc.,

8.7 Kronos incorporated

8.8 HealthMEDX

8.9 PointClickCare

8.10 Matrix Care

8.11 Sigma Care

8.12 Optimus EMR

9. Competitive Landscape

9.1 Market share analysis

9.2 Merger and Acquisition Analysis

9.3 Agreements, collaborations and Joint Ventures

9.4 New Product Launches

10. Market Outlook and Investment Opportunities

Appendix

a) List of Tables

b) List of Figures

Global Long-term Care Software Market, By Region, From 2022 - 2027 (USD Million)
Global Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
Global Clinical Software Market, By Region, From 2022 - 2027 (USD Million)
Global Non-clinical software Market, By Region, From 2022 - 2027 (USD Million)
Global Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
Global Cloud-based Long-term care software Market, By Region, From 2022 - 2027 (USD Million)
Global Web-based Long-term care software Market, By Region, From 2022 - 2027 (USD Million)
Global On-premises Long-term care software Market, By Region, From 2022 - 2027 (USD Million)
Global Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
Global Home Healthcare Market, By Region, From 2022 - 2027 (USD Million)
Global Nursing care Market, By Region, From 2022 - 2027 (USD Million)
Global Assisted Living Facilities Market, By Region, From 2022 - 2027 (USD Million)
North America Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
North America Clinical Software Market, By Region, From 2022 - 2027 (USD Million)
North America Non-clinical software Market, By Region, From 2022 - 2027 (USD Million)
North America Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
North America Cloud-based Long-term care software Market, By Region, From 2022 - 2027 (USD Million)
North America Web-based Long-term care software Market, By Region, From 2022 - 2027 (USD Million)
North America On-premises Long-term care software Market, By Region, From 2022 - 2027 (USD Million)
North America Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
North America Home Healthcare Market, By Region, From 2022 - 2027 (USD Million)
North America Nursing care Market, By Region, From 2022 - 2027 (USD Million)
North America Assisted Living Facilities Market, By Region, From 2022 - 2027 (USD Million)
United States Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
United States Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
United States Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
Canada Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
Canada Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
Canada Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
Europe Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
Europe Clinical Software Market, By Region, From 2022 - 2027 (USD Million)
Europe Non-clinical software Market, By Region, From 2022 - 2027 (USD Million)
Europe Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
Europe Cloud-based Long-term care software Market, By Region, From 2022 - 2027 (USD Million)
Europe Web-based Long-term care software Market, By Region, From 2022 - 2027 (USD Million)
Europe On-premises Long-term care software Market, By Region, From 2022 - 2027 (USD Million)
Europe Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
Europe Home Healthcare Market, By Region, From 2022 - 2027 (USD Million)
Europe Nursing care Market, By Region, From 2022 - 2027 (USD Million)
Europe Assisted Living Facilities Market, By Region, From 2022 - 2027 (USD Million)
U.K. Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
U.K. Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
U.K. Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
Germany Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
Germany Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
Germany Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
France Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
France Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
France Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
Italy Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
Italy Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
Italy Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
Spain Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
Spain Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
Spain Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
Asia Pacific Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
Asia Pacific Clinical Software Market, By Region, From 2022 - 2027 (USD Million)
Asia Pacific Non-clinical software Market, By Region, From 2022 - 2027 (USD Million)
Asia Pacific Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
Asia Pacific Cloud-based Market, By Region, From 2022 - 2027 (USD Million)
Asia Pacific Web-based Market, By Region, From 2022 - 2027 (USD Million)
Asia Pacific On-premises Market, By Region, From 2022 - 2027 (USD Million)
Asia Pacific Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
Asia Pacific Home Healthcare Market, By Region, From 2022 - 2027 (USD Million)
Asia Pacific Nursing care Market, By Region, From 2022 - 2027 (USD Million)
Asia Pacific Assisted Living Facilities Market, By Region, From 2022 - 2027 (USD Million)
Japan Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
Japan Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
Japan Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
China Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
China Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
China Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
India Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
India Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
India Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
Australia Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
Australia Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
Australia Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
South Korea Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
South Korea Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
South Korea Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
Latin America Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
Latin America Clinical Software Market, By Region, From 2022 - 2027 (USD Million)
Latin America Non-clinical software Market, By Region, From 2022 - 2027 (USD Million)
Latin America Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
Latin America Cloud-based Market, By Region, From 2022 - 2027 (USD Million)
Latin America Web-based Market, By Region, From 2022 - 2027 (USD Million)
Latin America On-premises Market, By Region, From 2022 - 2027 (USD Million)
Latin America Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
Latin America Home Healthcare Market, By Region, From 2022 - 2027 (USD Million)
Latin America Nursing care Market, By Region, From 2022 - 2027 (USD Million)
Latin America Assisted Living Facilities Market, By Region, From 2022 - 2027 (USD Million)
Brazil Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
Brazil Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
Brazil Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
Argentina Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
Argentina Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
Argentina Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
Mexico Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
Mexico Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
Mexico Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
Rest of Latin America Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
Rest of Latin America Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
Rest of Latin America Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
Middle East and Africa Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
Middle East and Africa Clinical Software Market, By Region, From 2022 - 2027 (USD Million)
Middle East and Africa Non-clinical software Market, By Region, From 2022 - 2027 (USD Million)
Middle East and Africa Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
Middle East and Africa Cloud-based Long-term care software Market, By Region, From 2022 - 2027 (USD Million)
Middle East and Africa Web-based Long-term care software Market, By Region, From 2022 - 2027 (USD Million)
Middle East and Africa On-premises Long term care software Market, By Region, From 2022 - 2027 (USD Million)
Middle East and Africa Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
Middle East and Africa Home Healthcare Market, By Region, From 2022 - 2027 (USD Million)
Middle East and Africa Nursing care Market, By Region, From 2022 - 2027 (USD Million)
Middle East and Africa Assisted Living Facilities Market, By Region, From 2022 - 2027 (USD Million)
Middle East Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
Middle East Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
Middle East Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)
Africa Long-term Care Software Market, By Product, From 2022 - 2027 (USD Million)
Africa Long-term Care Software Market, By Mode of Delivery, From 2022 - 2027 (USD Million)
Africa Long-term Care Software Market, By End User, From 2022 - 2027 (USD Million)