The global home healthcare software market is segmented into services such as rehabilitation, infusion therapy, respiratory therapy, pregnancy care, skilled nursing, palliative care and others. Among these segments, infusion therapy is expected to grow at highest CAGR in overall global home healthcare software market during the forecast period i.e. 2018-2027. Factor such as increasing number of patients across the globe is believed to impetus the growth of the infusion therapy segment over the forecast period.
The global home healthcare software market is expected to flourish at a CAGR of 15.2% over the forecast period. Rising adaptation of home healthcare based solutions is anticipated to drive the growth of the global home healthcare software market over the forecast period. Moreover, increasing awareness regarding home healthcare services is expected to drive the overall market of home healthcare software over the forecast period i.e. 2018-2027.
In the regional market, North America dominated the overall home healthcare software market and is expected to continue its dominance over the forecast period. Further, growing geriatric population in the region is expected to accelerate the growth of the North America home healthcare software market in the upcoming years. Furthermore, Asia Pacific home healthcare software market is anticipated to witness robust growth during the forecast period. Rising number of information technology companies in countries such as China and India is anticipated to positively impact the growth of the Asia Pacific home healthcare software.
The reign of paperwork in hospitals is over. Today’s clinicians prefer managing inventory and keeping protected health information (PHI) in digital form.
From EHR (electronic health records) and EMR (electronic medical records) to HIS (hospital information system) and healthcare CRM, IT providers have altered the way hospitals work. With such solutions in place, caregivers can easily store, update, and share health data, devoting more time to sufferers and their needs.
The list of software able to revamp medical workflows wouldn’t be full without narrow-focused solutions tailored to specific departments. Cardiovascular information systems (CVIS), dental practice management software (DPMS), picture archiving and communication systems (PACS), radiology information systems (RIS), and more — all of these enable better data management and improve patient outcomes.
Growth in Aging Population
Factor such as rising aging population in various countries such as U.S., Japan and other countries is anticipated to positively impact the growth of the global home healthcare software market over the forecast period. Moreover, increasing prevalence of diseases in people above the age of 65 years is expected to drive the overall market of home healthcare software over the forecast period.
Cost Effectiveness of Home Healthcare Software
Increasing demand for affordable healthcare delivery systems across the globe is expected to increase the growth of global home healthcare software market. Further, as compared to traditional clinics home healthcare is being rapidly adopted due to its cost effectiveness. This key factor is anticipated to increase the growth of global home healthcare software market.
However, limited insurance coverage and patient safety concerns are likely to limit the growth of global home healthcare software market over the forecast period.
The report titled “Home Healthcare Software Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global home healthcare software market in terms of market segmentation by service, by software, by delivery mode and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The Internet of Things (IoT) and wearables
The modern treatment is all about smart: sensors and smart beds to accommodate a patient’s lying position, smart lenses to correct bad vision, and even smart pills to control medicine-taking by patients with acute conditions. And this list of IoT devices is not complete.
Wearables have also been fast to catch on. They are useful in gathering biometric data to control a patient’s heartbeat, pulse rate, and glucose level, as well as to evaluate a patient’s quality of life during cancer treatment.
This report also provides the existing competitive scenario of some of the key players of the global home healthcare software market which includes company profiling of Siemens Healthcare, American Homepatient Inc., Baxter International Inc., Bayer Ag, Convatec Inc., Covidien Plc., C.R. Bard Inc., Medtronic Inc., Novo Nordisk and Abbott Laboratories. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global home healthcare software market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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