The size of the Middle East and Africa home healthcare software market is predicted to grow at a moderate CAGR during the forecast period.
Home healthcare software is uniquely designed to support technology services to manage and support people in-home care, assisted living, and independent living settings. Home healthcare software is a viable solution that lowers healthcare costs. Home care solutions are highly easy-to-use solutions that deliver error-free medical information, increase operational efficiency, and enable home care agencies and physicians to communicate effectively to provide quality patient care. The increase in the geriatric population prone to chronic diseases is expected to create a strong demand for specialized care for nursing homes and assisted living facilities. Additionally, the launch of home care software solutions is expected to increase convenience for geriatric patients and healthcare providers. These solutions minimize overall operating costs and deliver a high return on investment for healthcare providers.
Various factors, such as increasing adoption of cloud computing mode of delivery, shift to telehealth technology, increasing adoption of smartphones and tablets, and increased investments in technology by major vendors and agencies' home care products, drive the market over the forecast period.
Skyrocketing healthcare costs will drive the market, an aging population increasing the incidence of chronic conditions, the hospital readmissions reduction program, medical and nursing staff shortages, and supportive government initiatives across the MEA region.
However, the growing incidence of data breaches and loss of privacy, high expenses for maintenance and service, a shortage of trained IT professionals, changing reimbursement policies, limited insurance coverage, and Concerns about patient safety. These are the factors expected to hamper the market's growth.
Impact of COVID-19 on the MEA home healthcare software market:
The COVID-19 pandemic is facing a mixed impact on the MEA home healthcare software market. As the MEA home healthcare market comprises various products and services, these two have different growth rates. Therefore, the COVID-19 pandemic will positively impact some home healthcare monitoring products, namely blood glucose meters, blood pressure monitors, thermometers, and pulse oximeters, while having sluggish growth in the home healthcare software sector.
This research report on the MEA home healthcare software market has been segmented and sub-segmented into the following categories.
By Type of Software:
By Mode of Delivery:
Several regions of the world are experiencing a rapid increase in patients with chronic conditions. Middle East appears to dominate the MEA home healthcare software market. The UAE is the main contributor to revenue generation in the Middle East region. The number of older people is estimated to reach approximately 1.5 billion by 2050. An aging population demands more patient-centered health services, which increases the demand for workers and health agencies, which is expected to drive market growth.
Egypt is still known for the prosperous regions of the world, and soon the region will also know it for its senior population. The growing geriatric population is found in Egypt, but some Arab countries, such as Oman and Saudi Arabia, offer lucrative growth prospects for the market. It is predicted that by 2050, around 45% of the African population will be over 65. It is important in Turkey, where the percentage of the 65-year-old population is 20% in 2020 and is expected to reach 25% by 2035. With the aging population in a country like Saudi Arabia, the chronic disease prevalence will be higher, translating into a larger patient population and, consequently, greater demand for home healthcare software.
The recent economic boom in the African region and the increased health spending per capita are also essential factors for the region's growth. In addition, growing demand for home healthcare software services to reduce rising healthcare costs, increased awareness that triggers adoption rate, and technological advancements that lead to cost efficiency and ease of use are other factors contributing to the market's growth.
KEY MARKET PLAYERS:
Allscripts Healthcare Solutions, Carestream Health, GE Healthcare, NextGen Healthcare Information System LLC, Siemens Healthcare, Novarad Corporation, MEDITECH, Cerner Corporation, Agfa Healthcare, WellSky, Medical Information Technology, Inc. (Meditech), and Continulink are some of the notable players in the MEA home healthcare software market.
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