North America Home Healthcare Software Market Size (2022 to 2027)
The size of the North American home healthcare software market is forecasted to be growing at a CAGR of 12.7% from 2022 to 2027.
The geriatric population is growing rapidly and mainly depends on constant health care. The overall increase in the geriatric population could have consequences, such as a higher incidence of heart, neurological, orthopedic, and various other problems and chronic and life-threatening diseases. Here home care software comes to the rescue when needed.
The incidence of several chronic diseases increases with age and the prevalence of certain chronic diseases, such as hypertension, asthma, cancer, and diabetes. This disease has increased in older people. Rehabilitation centers and organizations have started providing a way for patients to stay connected to their health information and manage their health and wellness needs through home healthcare software. As the elderly or geriatric population increases in the North American region, the adoption rate of home care software is also expected to grow and drive the market during the forecast period.
Rising additional cash levels, expanding requirements for reasonable healthcare transportation frameworks, and developing home healthcare organizations in this area will boost the market for healthcare software products and services. Technologies that are changing the face of the home medical software market integrate cloud computing software, mobile medical applications, telemedicine, and business analysis tools. Adopting these technologies has improved the quality of home care and reduced the cost of implementing IT solutions for home care. In addition, home care market companies can seek profitable device opportunities through strategic alignment and remote patient monitoring.
Some of the factors that are expected to hamper the growth rate of the North American home healthcare device market include unfavorable reimbursement policies, limited coverage for home healthcare devices and assistances, changing technologies, and regulatory obstacles for the newer devices.
Impact of COVID-19 on the North American home healthcare software market:
The global COVID-19 pandemic increases the demand for home care software due to the government's focus on people infected with the coronavirus. Additionally, initiatives by individuals and government authorities to reduce corona spread are leading to home isolation and self-quarantine activities that dramatically increase the demand for home care software where physicians can monitor remotely from clinics or hospitals and suggest effective treatments to patients.
This research report on the North American home healthcare software Market has been segmented and sub-segmented into the following categories:
By Type of Software:
Hospice Software Solutions
By Mode of Delivery:
The United States
Rest of North America
Geographically North America is the dominant market region with the largest share of the global home healthcare software market, as the countries in the region are the first to adopt the technology, environment, and well-developed infrastructure and stable computer technology make it a dominant region to provide better technology for home health care services to its Internet users. In addition, the US government is increasingly taking initiatives to reduce hospital readmissions in the country. As a result, the United States had more than 12,250 functioning home health agencies to advance home health care in 2017.
According to the American Home Care Association, about $ 44.9 billion or 75% of funding for home care supplies comes from government programs. According to statistics, about 50.3% of women are likely to have more than three serious chronic diseases compared to men with over 38.5%. According to the National Association for Home Care and Hospices statistics, nearly 12.9 million people receive home care from more than 33,500 service providers. According to statistics from the Home Care Association of America, nearly 75% of people over 65 will need home health care at some point. With the development of a mature population, the specialized advancements in the healthcare section are moving the global home healthcare software market - general products and services. In any case, the changing evolutions and the administrative inconveniences of the new devices of time will control the evolution of the market.
KEY MARKET PARTICIPANTS:
Companies such as 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 expected to lead the North American home healthcare software market during the forecast period.
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