Home Healthcare Software Market is Expected to Reach USD 20.37 Billion by 2030

PRESS RELEASE
Published July 21, 2023

Global Home Healthcare Software Market report is generated by a team of multilingual researchers who are skilled at different languages and hence perform market research internationally. With this report, businesses can get clear idea about how the market is going to perform in the forecast years with understandable details about market definition, classifications, applications, and engagements. A genius team along with project managers serve the clients on every strategic aspect including product development, key areas of development, application modelling, use of technologies, the acquisition strategies, exploring niche growth opportunities and new markets.

According to the U.S. Bureau of Labor Statistics, the number of home health aides and personal care aides is expected to rise by 70% between 2010 and 2020, reaching 13 million. Some of the market’s drivers include an ageing population, an increased incidence rate of target diseases, and an increasing need to reduce healthcare expenditure as an economically viable initiative. Treatment costs are expected to rise steadily over the forecast period due to the rising prevalence of chronic diseases. This individualized care is a low-cost solution for controlling treatment costs and a high-impact rendering driver for the industry.

Data Bridge Market Research analyses that the home healthcare software market which is USD 10.30 billion in 2022, is expected to reach USD 20.37 billion by 2030, at a CAGR of 8.9% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Home healthcare software provides a wide range of home healthcare services to treat a variety of illnesses and injuries. It is the result of digital healthcare operations, and its adoption in healthcare is increasing at an impressive rate due to benefits such as cost-effectiveness, convenience, and high quality home care services and treatment. Home healthcare software can be accessed via PC/Laptop or handheld devices/smartphones. Home healthcare services include skilled medical professionals, physical therapy, occupational therapy, speech therapy, and a variety of other services. The rising prevalence of diseases such as cardiovascular, metabolic, Parkinson’s, infectious (HIV/AIDS), and others has increased demand for home healthcare. Home healthcare refers to rehabilitation services provided in a patient’s home, such as skilled nursing, physical therapy, and occupational therapy.

Drivers

  • Rising geriatric population

The global population is rapidly ageing as a result of lower birth rates and increased life expectancy, which may result in a high prevalence of chronic diseases as the older population is more susceptible to chronic diseases due to ageing and low immunity, creating demand for home healthcare services and software. According to the World Health Organization’s October 2021 report, the global population of people aged 60 and up is expected to increase from 1 billion in 2020 to 2.1 billion by 2050, which is expected to have a significant impact on the home healthcare software market, as older people become more reliant on others for care and other needs.

  • New product development and launches

New product development and launches by market players in the area are expected to boost market growth. For instance, in May 2020, Homecare HomebaseSM (HCHB) partnered with MUSE Healthcare of St. Paul to provide improved hospice care during the most critical stages of a patient’s care journey. The new product improves predictions, preparations, and offers for hospice patients in their final 7-12 days of life using sophisticated modeling and machine learning. As a result of the aforementioned factors, the hospice software solution segment is expected to account for a sizable share of the home healthcare software market during the forecast period.

Recent developments

  • In 2020, Simione Healthcare Consultants, LLC and Home Health Solutions, LLC announced a merger agreement to collaborate on consulting and coding services for home and community-based care.
  • In 2020, Healthcare Provider Solutions announced that it had acquired the home care and hospice coding and clinical consulting provider 5 Star Consultants LLC. As a result of the abovementioned factors, North America’s home healthcare software market is expected to grow significantly over the forecast period.

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Some of the major players operating in the home healthcare software market are:

  • Koninklijke Philips N.V. (Netherlands)
  • Omron Healthcare, Inc. (Japan)
  • Air Liquide (France)
  • B. Braun SE (Germany)
  • Medtronic (Ireland)
  • Davita Inc. (U.S.)
  • CARDINAL HEALTH (U.S.)
  • Sunrise Medical (U.S.)
  • General Electric Company (U.S.)
  • A&D Company, Limited (Japan)
  • BAYADA Home Health Care (U.S.)
  • Invacare Corporation (U.S.)
  • Philips Healthcare (Netherlands)
  • Fresenious SE & Co KGaA (Germany)
  • Baxter (U.S.)
  • F. Hoffmann-La Roche Ltd (Switzerland)
  • Bupa Home Healthcare, Ltd (U.K.)
  • Healthcare at Home (U.K.)
  • Linde plc (Germany)

Top Key Topics Covered:

  1. Strategic Imperatives
  • Factors Creating Pressure on Growth
  • The Strategic Imperative
  • Growth Opportunities Fuel the Growth Pipeline Engine
  • Research Methodology
  1. Scope and Segmentation
  • Research Context and Scope of Analysis
  • Segmentation
  • Other Techniques for This Research Report Management
  1. Growth Opportunity Analysis
  • Growth Drivers
  • Growth Restraints
  1. Introduction
  • The Impact of the COVID-19 Pandemic and Post
  • Future Growth
  1. Innovation Ecosystem

Continued…

Home Healthcare Software Market Scope

The home healthcare software market is segmented on the basis of equipment, deployment, mode, service, software and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Equipment

  • Monitoring Equipment
  • Therapeutic Equipment
  • Mobility Assist
  • Others

 Deployment

  • On-Premise
  • Web-based
  • Cloud based

 Mode

  • PC/Laptop
  • Handheld Devices/Smartphones

 Service

  • Rehabilitation
  • Infusion Therapy
  • Respiratory Therapy
  • Pregnancy Care
  • Skilled Nursing
  • Palliative Care
  • Others

Software

  • Agency Software
  • Clinical Management Systems
  • Hospice Solutions Applications
  • Telehealth solutions

 End User

  • Homecare Agencies
  • Hospice Care
  • Private Duty Agencies
  • Rehabilitation Centres/Therapy Centres

Fundamental Aim of this Market Report

  • Notable Market rivals around the world.
  • Future Scope and Product Outlook
  • Future-promising emerging markets.
  • The Market Presents Difficult Challenges and Threats.

Key highlights of this Market report:

  • Major restraints
  • Market drivers
  • Regional bifurcation
  • Competitive hierarchy
  • Current market tendencies
  • Market concentration analysis

Browse the complete table of contents at –  https://www.databridgemarketresearch.com/toc/?dbmr=global-home-healthcare-software-market&Shri

Critical Insights Related to the adalimumab biosimilar Included in the Report:

    • Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in this market
    • Value chain analysis of prominent players in the market
    • Current trends influencing the dynamics of this market across various geographies
    • Recent mergers, acquisitions, collaborations, and partnerships
    • Revenue growth of this industry over the forecast period
    • Marketing strategy study and growth trends
    • Growth-driven factor analysis
    • Emerging recess segments and region-wise market
    • An empirical evaluation of the curve of this market
    • Ancient, Present, and Probable scope of the market from both prospect value and volume

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