The home healthcare software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Home Healthcare Software Market, 2024 report by The Business Research Company
offers comprehensive insights into the current state of the market and
highlights future growth opportunities.
Market Size -
The home healthcare software market size has grown rapidly in recent years. It
will grow from $6.96 billion in 2023 to $7.79 billion in 2024 at a compound
annual growth rate (CAGR) of 12.0%. The growth in the historic period can be
attributed to increasing prevalence of chronic diseases, government initiatives
and incentive plans for homecare providers, move towards cloud-based solutions
in home healthcare software, integration of telehealth capabilities, rapid
digital transformation.
The home healthcare software market size is expected to see rapid growth in the
next few years. It will grow to $12.41 billion in 2028 at a compound annual
growth rate (CAGR) of 12.3%. The growth in the forecast period can be
attributed to emphasis on security measures and compliance with healthcare
standards, increasing focus on mental health and wellness features in home
healthcare software, increasing focus on patient-centric healthcare solutions.
Major trends in the forecast period include emergence of new technologies like
the Internet of Things (IoT), artificial intelligence (AI), and virtual reality
(VR), trend towards mobile solutions in home healthcare, increased adoption of
telehealth and remote monitoring, adoption of fast healthcare interoperability
resources (FHIR), AI-powered chatbots and virtual assistants to enhance patient
engagement.
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Scope Of Home Healthcare Software Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Home Healthcare Software Market Overview
Market Drivers -
The increasing prevalence of chronic illnesses is expected to propel the growth
of the home healthcare software market going forward. Chronic illnesses are
problems that last a year or longer, necessitating continuing medical care,
restricting everyday activities, or both. The prevalence of chronic illnesses
is increasing due to the aging population, unhealthy lifestyle habits,
urbanization, genetic predisposition, improved disease management and
diagnosis, and changes in food systems. Home healthcare software helps manage
chronic illness by enabling healthcare providers to remotely monitor patients'
health, track their progress, and ensure they adhere to treatment plans. For
instance, in January 2023, according to the National Center for Biotechnology
Information (NCBI), a US-based National Library of Medicine, the number of
individuals aged 50 and older with at least one chronic illness will increase
by 99.5%, reaching 142.66 million by 2050, up from 71.522 million in 2020.
Therefore, the increasing prevalence of chronic illnesses is driving the growth
of the home healthcare software market.
Market Trends -
Major companies operating in the home healthcare software market are innovative
products integrated with artificial intelligence (AI) into home healthcare
software, such as Home Smart Clinic solutions, to gain a competitive edge in
the market. The Home Smart Clinic solution is a virtual care device enabling
families to conduct remote physical exams with a doctor, replicating in-clinic
exams for immediate answers from their homes. For instance, in September 2022,
TytoCare, a US-based virtual care company, launched a Home Smart Clinic
solution enabling clinicians to remote physical exams for accessible,
high-quality virtual care from home. It includes a handheld medical exam device
and AI-powered support software that guides patients through various medical
exams, such as ear, chest, and throat exams, while securely connected to a
remote physician. This solution has been recognized for reducing the total cost
of care, diverting emergency department visits, increasing primary care
utilization, and significantly improving patient outcomes.
The home healthcare software market covered in this report is segmented –
1) By Product: Clinical Management Systems, Hospice Systems, Agency Software
Systems, Tele-Health Systems
2) By Usage: Clinical Homecare Systems, Non-Clinical Homecare Systems
3) By Delivery Mode: Web-Based Software, On-Premises Software, Cloud-Based
Software
4) By End User: Hospice Agencies, Homecare Agencies, Private Duty, Other End
Users
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Regional Insights -
North America was the largest region in the home healthcare software market in
2023. Asia-Pacific is expected to be the fastest-growing region in the forecast
period. The regions covered in the home healthcare software market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South America,
Middle East, Africa.
Key Companies -
Major companies operating in the home healthcare software market report are
<b>Mckesson Corporation; DarioHealth Corp.; Koninklijke Philips N.V.; GE
HealthCare Technologies Inc.; B. Braun SE; Cerner Corporation; ResMed Inc.;
NextGen Healthcare Information System LLC; Medical Information Technology Inc.
(Meditech); Homecare Homebase LLC; AlayaCare USA Inc.; Omada Health Inc.; Loyal
Healthcare LLC; Casamba Home & Hospice; Axxess Technology Solutions Inc.;
Delta Health Technologies Inc.; Family First Inc.; KanTime Inc.; ClearCare Inc.
(WellSky); Thornberry Ltd.; Centex AxisCare LLC; Alora Healthcare Systems Inc.;
Carallel LLC; HomeHero Inc. </b>
Table of Contents
1. Executive Summary
2. Home Healthcare Software Market Report Structure
3. Home Healthcare Software Market Trends And Strategies
4. Home Healthcare Software Market – Macro Economic Scenario
5. Home Healthcare Software Market Size And Growth
…..
27. Home Healthcare Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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