The Long Term Care Software by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Long Term Care Software, The long term care software market size has grown rapidly in recent years. It will grow from $4.32 billion in 2023 to $4.84 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to aging population dynamics, regulatory compliance requirements, rising healthcare costs, integration of electronic health records (ehr), focus on patient-centric care.
The long term care software market size is expected to see rapid growth in the next few years. It will grow to $7.89 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. The growth in the forecast period can be attributed to rising consumer expectations, telehealth integration, interoperability requirements, rise of home-based care, data security and privacy concerns.. Major trends in the forecast period include person-centered care, compliance with regulatory standards, enhanced data security measures, telehealth integration, patient and family engagement tools.
The rising number of healthcare organizations is expected to propel the growth of the long-term care software market going forward. A healthcare organization (HCO) is any legal entity that is a healthcare, medical association that influences the prescription, order, supply, utilization, and sale of medical technologies or related services. The healthcare organizations use long-term care software services for the safe exchange of patient data, better patient outcomes, faster treatment, multidevice synchronization, and others. Therefore, a rising number of healthcare organizations are driving the growth of the long-term care software market. For instance, in November 2022, according to the Federal University of Rio Grande do Sul, a Brazil-based public federal research university, 848 active chronic dialysis centers were registered in 2021 at the Brazilian Society of Nephrology, 1.8% higher than that of dialysis centers registered in 2020. Hence, the rising number of healthcare organizations is driving the long-term care software market.
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The long term care software market covered in this report is segmented –
1) By Product: Clinical Software, Non-Clinical Solutions
2) By Deployment Type: Web-Based, On-Premises, Cloud-Based
3) By End-User: Home Healthcare Agencies, Hospice Care Facilities, Nursing Homes And Assisted Living Facilities
Technological advancements are a key trend gaining popularity in the long-term care software market. Major companies operating in the long-term care software market are adopting new technologies to sustain their position in the market. For instance, in February 2022, Creative Solutions in Healthcare, a US-based healthcare company, launched a software platform, Connected Care Center. Connected Care Center is a user-friendly and easily accessible resident health information hub that allows residents, authorized families and friends to see up-to-date health data.
The long term care software market report table of contents includes:
1. Executive Summary
2. Long Term Care Software Market Characteristics
3. Long Term Care Software Market Trends And Strategies
4. Long Term Care Software Market – Macro Economic Scenario
5. Global Long Term Care Software Market Size and Growth
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26. South America Long Term Care Software Market
27. Brazil Long Term Care Software Market
28. Middle East Long Term Care Software Market
29. Africa Long Term Care Software Market
30. Long Term Care Software Market Competitive Landscape And Company Profiles
Top Major Players:
- McKesson Corporatio
- Optimus EMR Inc
- PointClickCare Corp
- Matrixcare Inc
- Allscripts Healthcare Solutions Inc
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