In a recently published report, Home Healthcare Software Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Home Healthcare Software Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Home Healthcare Software Market is valued approximately USD 7.26 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 13.40% over the forecast period 2020-2027. Home healthcare software is a user-friendly solution that offers healthcare information with zero error which helps in increasing the operational efficiency of the doctor. Also, it provides home care agencies and physicians to communicate effectively to enable standardize care to the patients. Such solutions offer healthcare professionals with real time information to deliver superior patient care. The global pandemic of COVID-19 escalates the demand for home healthcare software due to the primary focus of government towards coronavirus infected peoples. Also, initiatives taken by the people and government authorities to reduce corona spread leads to the home isolation and self-quarantine activities which significantly upsurge the demand for home healthcare software where doctors can monitor patient’s health from clinics or hospital and suggest efficient treatments to the patients. Whereas, emergence of large health issues to the geriatric population and need for regular check-up of ageing population, stimulated the demand for home healthcare software.
Therefore, rapid growth in ageing population and need for instant check on old peoples driving the growth of market over the forecast years. For instance: According to World Health Organization, the number of people aged 65 or older is projected to grow from an estimated 524 million in 2010 to nearly 1.6 billion in 2050, with most of the increase in developing countries. In addition, presence of favorable government regulations regarding adoption of home healthcare software is driving the market growth over the forecast years. However, security concerns and growing incidence of data breach is hampering the growth of market over the forecast years.
The regional analysis of global Home Healthcare Software Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising growth in healthcare expenditure in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising ageing population would create lucrative growth prospects for the Home Healthcare Software Market across Asia-Pacific region.
Major market player included in this report are:
Allscripts Healthcare Solutions, Inc.
Continulink Health Technologies, LLC.
Delta Health Technologies
Kinnser Software, Inc.
Medical Information Technology, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Software offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Consulting and Support Services
Hospice Software Solutions
Tele Health Solutions
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By Mode of Delivery:
Other Modes of Delivery
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Home Healthcare Software Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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