Home Healthcare Software Market Size is poised to grow at a notable rate from 2022 to 2028 with increasing investments in the healthcare domain across the globe. The increasing healthcare spending in developing as well as developed economies is further anticipated to augment the market trends over the subsequent years.
The rising cases of various serious disorders, especially among the elderly population, have created a dynamic demand for home healthcare software. Home healthcare software is an advanced tool that is easy to use, offers accurate medical information, is cost-effective, and delivers enhanced patient care.
Based on the product type, telehealth solutions segment is expected to observe substantial growth by the end of 2028 as they allow the healthcare professionals to deliver health services, share health information remotely using telecommunications, as well as educate or train patients and healthcare staff. The increasing government investments towards these solutions is projected to expedite the segmental growth further. Citing an instance, in 2021, the Canadian government announced investing USD 3.5 million towards virtual healthcare in Prince Edward Island province.
With regards to end-user, hospice agencies segment is anticipated to register significant gains over the forecast period of 2022-2028. Hospice services are largely used when a cure is not likely or when patients are in the last months of life. These are being increasingly adopted to offer palliative care. For instance, they are used for preventing or relieving cancer symptoms as well as for treating the side effects. The increased adoption of these services has instigated the deployment of hospice software solutions which essentially offer clinical functionality, scheduling, billing, reporting, staffing, generating custom forms, etc.
In terms of the regional outlook, home healthcare software market is expected to witness an appreciable growth in North America by 2028. This can be ascribed to the rising demand for home healthcare among the geriatric populace who are prone to various serious chronic disorders. The growing elderly population in the region is expected to drive industry growth in the coming years further.
The major industry players operating in home healthcare software industry include Agfa Healthcare (IG Farben), NextGen Healthcare Information System LLC, Cerner Corporation, GE Healthcare (General Electric), Mckesson Corporation, MEDITECH, Medical Information Technology, Inc. (Meditech), Allscripts Healthcare Solutions, Inc., Siemens Healthcare, among others.
The market players are implementing various strategic initiatives and development of new products to gain a competitive edge in the market.
The global outbreak of COVID-19 pandemic led to a sudden increase in the burden on the overall healthcare sector and created a significant demand for virtual healthcare solutions as the number of hospital visits drastically reduced due to increased infection risk. This urged various healthcare organizations and government bodies to invest heavily in telemedicine and other virtual healthcare solutions. The growing proclivity towards these solutions is estimated to drive the growth of home healthcare software market over the forthcoming years.
Market, by Product Type
Market, by Therapeutic Application
Market, by Delivery Mode
Market, by End user
The above information is provided for the following regions and countries: