Scope of the Study
The global Long-term Care Software market is expected to boost high demand in the forecasted period due to the rising adoption of E prescribing across the world. "Long-term care" (LTC) is a term that can refer to any post-acute or extended-care setting: from nursing homes to assisted living facilities to adult daycare centers to home health care. The patients who receive care in these settings may be any age or gender, but the modal LTC patient is elderly. Long-term care is a service that helps meet the medical and nonmedical needs of people with chronic illnesses or disabilities. It involves a variety of services designed to meet a person's health or personal care needs during a short or long period of time
The market study is being classified, by Application (Nursing Homes, Home Health Agencies and Assisted Living Facilities) and major geographies with country level break-up. According to AMA, the Global Long-term Care Software market is expected to see growth rate of 15.3%
Cerner Corporation (United States), Omnicare, Inc. (United States), AOD Software (United States), Kronos (United States), PointClickCare (Canada), Omnicell, Inc. (United States), McKesson Corporation (United States), Allscripts Healthcare Solutions, Inc. (United States), MatrixCare (United States) and SigmaCare (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Optimus EMR (United States) and HealthMEDX LLC (United States).
The long-term care software market is moderately competitive, and consists of several major players. In terms of share, a few of the major players currently dominate the market. With the rising patient awareness levels and increasing geriatric population, a few other smaller players are expected to enter the market in the coming years. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Long-term Care Software market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Long-term Care Software market by Type, Application and Region.
On the basis of geography, the market of Long-term Care Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- The Rise in the Aging Population
- Growing Burden of Chronic Diseases
- Shortage Of Nursing Staff And Doctors
- Healthcare Reforms and Government Initiatives
- The Unwillingness of the Traditional Long-term Care Providers to Adopt Software
- High Software Investment and Maintenance Costs
- Remote Patient Monitoring Opens New Growth Avenues For The Market
- Cloud-Based Software Offers Significant Opportunities
- Lower Adoption Of Long-Term Care Software In Developing Countries
Market Leaders and their expansionary development strategies
On 31st July 2019, Cerner has announced a collaboration with cloud giant Amazon Web Services, with the aim of accelerating healthcare innovation. As part of the agreement, Cerner is naming AWS its preferred cloud provider.
Key Target AudienceResearch and Consulting Firms, Long-Term Care Software providers, Pharmaceutical and biotechnology companies, Hospitals and other healthcare institutes, Contract research organizations (CROs) and Government Bodies
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