The “Home Healthcare Software – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Home Healthcare Software Product and Service Market to Reach $7 Billion by 2026
Amid the COVID-19 crisis, the global market for Home Healthcare – Software Product and Service estimated at US$3.2 Billion in the year 2020, is projected to reach a revised size of US$7 Billion by 2026, growing at a CAGR of 13.4% over the analysis period. COVID-19 has overwhelmed home healthcare agencies with patients owing to limited access to medical services for treatment of chronic medical conditions, elderly care and post-infection rehabilitation.
The combination of COVID-19-induced demand for home care, rising incident of chronic medical conditions and increasing geriatric population is poised to significantly benefit the home healthcare market.
Home healthcare software comprises a part of health care information technology, aimed at providing a wide range of home health care services for treatment of various illnesses and injuries. Provision of care in settings other than acute settings is expected to form a critical constituent of healthcare reform, given the surging pressure on spending associated with healthcare across the world.
And in support of this, technological developments have resulted in medical equipment that can be used in settings outside acute care. Consumers perceive homecare as a less expensive and more comfortable alternative to institutionalized care. With the focus on preventing hospital-associated infections at an all-time high, healthcare institutions are supporting the homecare trend. Government and health authorities are encouraging homecare in order to reduce the strain on public sector healthcare systems. Against this backdrop, home healthcare software is expected to witness heightened demand during the analysis period.
The U.S. Market is Estimated at $1.3 Billion in 2021, While China is Forecast to Reach $1.2 Billion by 2026
The Home Healthcare Software Product and Service market in the U.S. is estimated at US$1.3 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2026 trailing a CAGR of 18.8% over the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.5% and 12.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.3% CAGR. While the US is considered the pioneer in home healthcare among developed nations, European countries are also picking up the trend.
The number of people undergoing treatment in sub-acute and homecare settings, apart from cases of same day surgery, is on the rise. Also reflecting this trend is the increase in the number of homecare equipment dealers in the region.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 and a Looming Global Recession
- 2020: A Year of Disruption & Transformation
- How Healthcare Has Been Impacted & Beyond COVID-19 What’s In Store for Healthcare?
- COVID-19 Highlights Significance of Home Healthcare
- Pandemic Unfolds Opportunities in Disguise for Home Healthcare Software
- Influencer Market Insights
- World Market Trajectories
- Homecare Healthcare Software: A Prelude
- Types of Home Healthcare Software
- Here’s Why Homecare is Cost Effective
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 133 Featured)
- Athena Health Care Systems
- CARECENTA, INC.
- Cerner Corporation
- Delta Health Technologies, Inc.
- EPIC Home Healthcare
- McKesson Medical-Surgical Inc.
- Medical Information Technology, Inc.
- Netsmart Technologies, Inc.
- NXGN Management, LLC
- Siemens Healthcare GmbH
- Thornberry Ltd.
3. MARKET TRENDS & DRIVERS
- Healthcare IT Seeks Role in Home Care & Direct Primary Care
- Healthcare IT Market Enjoys Striking Leap Forward with Increasing Influx of IoT
- Technology Gets Deeply Ingrained into Latest Trends in Home Healthcare Market
- Healthcare Digitization Drive High Uptake of Home Healthcare Software Solutions
- Pandemic Results in Emergence of New Home Healthcare Models
- Significance of Healthcare Software Tools Grows as the Pandemic Accelerates Broader Use of Telemedicine
- Telerehabilitation Gains Pace
- Home Health Agencies Expands Specialized Care and Telehealth Services
- Software Solutions Play an Important Role in Exploiting Big Data
- COVID-19 Drives Prominence of Healthcare Analytics
- Pandemic Accelerates the Aging-In-Place Trend, Spurring Opportunities
- Rise of Home Healthcare for High Acuity Patients
- COVID-19-led Rise of Touch-Less Home Care Underpins Need for Remote Monitoring Software & Technologies
- Integration of IT systems in the Home Healthcare Sector to Drive Growth
- Developing Interoperability Gains Attention
- Alternative Care Models for Delivery of Healthcare to Alleviate Burden on Hospitals
- Therapy and Rehabilitation Outside the Hospital Settings
- Percentage of Population with Disabilities by Age Group
- Aging Population A Key Demographic Driver of Growth of Home Healthcare Solutions and Services
- Chronic Disease Management & Associated Costs Drive Demand for Home Healthcare
- Rising Prevalence of Chronic Diseases Amplifies the Role of Alternate Care Sites & Highlights the Need for Home Healthcare Solutions
- Rising Healthcare Costs Accelerates the Shift to Low Cost Alternate Care Sites Including Patient Centered Medical Homes
- Rising Healthcare Costs Outstripping Global GDP Growth Puts Pressure On Health Systems to Bend the Cost Curve
- Optimization of Consumer Satisfaction and Business Bottom Line through FSM
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
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