Global Home Healthcare Software Markets, 2020-2025: Hospice Software Solutions is Expected to be the Fastest Growing Segment - ResearchAndMarkets.com

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The "Home Healthcare Software Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The major factors for the growth of the home healthcare software market include the increasing awareness triggering the adoption rate, technological advancements leading to cost-effectiveness and ease of use, and rapid rise in the ageing population.

Key Market Trends

Hospice Software Solutions is Expected to be the Fastest Growing Segment

Hospice Software Solutions are integrated management systems for home health and hospice agencies. It manages employees, payroll, scheduling, referral sources, patients, doctors' orders, eligibility, electronic visit verification (EVV), accounts receivable, collections and payers. These software also offer checks that alert clinicians for all mandatory and vital information required for visit documentation.

Recently, the demand for hospice care has increased, and is also expected to increase in the future due to increasing incidence of fatal diseases like cancer. For instance, Cancer Research UK suggests that the population suffering from cancer is expected to increase in the future.

As per the report, if recent trends in incidence of major cancers and population growth are consistent, it is predicted there will be 27.5 million new cancer cases worldwide each year by 2040, as compared to 17 million in 2018. This factor is expected to increase the hospice care centers, which will also increase the demand for hospice software solutions. This will help them market growth.

North America is Expected to Dominate the Market

North America is expected to dominate the market, owing to the presence of better healthcare infrastructure and rising geriatric population. The United States has an advanced IT infrastructure in healthcare facilities, which makes the country ideal for any kind of home healthcare software solutions. The demand for such solutions is much higher in the country, compared to developing countries. The available infrastructural facilities, along with the rising demand, are expected to lead to the overall market expansion.

Furthermore, according to the US Census Bureau's Statistics as of 2017, the total number of people aged between 65 years and older exceeds 50 million, and between 2020 and 2030, the number of elderly population is projected to increase by almost 18 million. Although much smaller in total size, the number of people aged 85 years and older is expected to more than triple, from an estimated 6 million today, to nearly 20 million by 2060. Thus, rising geriatric population is expected to create huge demand for various home healthcare applications, resulting in the high growth of the market.

Competitive Landscape

The market studied is moderately consolidated, owing to the presence of many small and large market players.

Some of the market players are

  • Allscripts Healthcare Solutions Inc.

  • CARECENTA, INC.

  • Cerner Corporation

  • Delta Health Technologies

  • Kinnser Software Inc.

  • McKesson Corporation

  • Medical Information Technology Inc.

  • Netsmart Technologies

  • Thornberry Limited

Key Topics Covered:

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Increasing Awareness regarding Homecare Technologies

4.2.2 Technological Advancements Leading to Cost Effectiveness and Ease of Use

4.2.3 Rapid Rise in the Ageing Population

4.3 Market Restraints

4.3.1 Insufficient Technical Support

4.3.2 Affordability Issues among the Emerging Economies Hindering the Market Growth

4.4 Porter's Five Forces Analysis

5 MARKET SEGMENTATION

5.1 By Software

5.1.1 Agency Management

5.1.2 Clinical Management

5.1.3 Hospice Software Solutions

5.1.4 Other Software

5.2 By Service

5.2.1 Rehabilitation

5.2.2 Infusion Therapy

5.2.3 Respiratory Therapy

5.2.4 Pregnancy Care

5.2.5 Skilled Nursing

5.2.6 Others

5.3 By Mode of Delivery

5.3.1 Cloud-Based Software

5.3.2 On-Premises Software

5.3.3 Others

5.4 Geography

6 COMPETITIVE LANDSCAPE

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/4jq6bm

View source version on businesswire.com: https://www.businesswire.com/news/home/20201022005853/en/

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