The assisted living software market is anticipated to flourish at a steady CAGR of 10.5% between 2023 and 2033. The market is expected to hold a market share of US$ 830.1 million by 2033 while the market is likely to reach a value of US$ 304.9 million in 2023.
The adoption of assisted living software is rising due to the increasing usage of real-time services in the healthcare sector which needs innovative solutions to improve patient care services. Further, the implementation of assisted living software is rising due to its ability to manage patient healthcare services across long-term healthcare centers and at home.
The software automates all the healthcare services which need less human intervention and is anticipated to propel the assisted living software market growth. Additionally, analytical tools have created new opportunities for assisted living software manufacturers to offer an enhanced solution with the integration of advanced analytics features. This is likely to increase the assisted living software market share during the forecast period.
Analytical tools provide structured insights, such as insurance data, prescription transaction data, patient details, prescription processing, etc., at one platform. It is further used to refill inventories for a specific period. These factors are increasing the assisted living software market demand analysis during the forecast period. Moreover, due to the low cost associated with assisted living software and its quick accessibility, many hospitals and clinics are increasing the adoption of assisted living software in recent years.
| Attributes | Details |
|---|---|
| Assisted Living Software Market CAGR (2023 to 2033) | 10.5% |
| Assisted Living Software Market Size (2023) | US$ 304.9 million |
| Assisted Living Software Market Size (2033) | US$ 830.1 million |
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The enhanced quality of care is likely to bolster the adoption of assisted living software during the forecast period. There are a few other factors that are fueling the growth of the market, which include:
The integration of assisted living software with eMAR (electronic medical administration records) is expected to be a key driver in the assisted living software market growth. Also, eMAR enables the software scheduling and tracking of medications, the capturing of blood glucose readings, and easy usage of charting screens. It further coordinates with various treatments and financial analytics for medical administration which increases the adoption of assisted living software.
The implementation of workflow automation in the software acts as a driving factor for assisted living software. This is one of the key drivers boosting the production and usage of assisted living software.
The lucrative reimbursements and compensation allotted from the government to aged individuals are also gaining the player's attention to make private investments in the matrix of assisted living, to keep the living atmosphere enthusiastic and engaged. Numerous technological advancements are widely used across countless applications from banking to shopping and are anticipated to generate key opportunities for the assisted living software market in the coming years.
The experts of FMI have also identified some of the factors that may restrain the assisted living software market growth despite some fueling growth prospects prevailing in the market, which include:
The primary factor hampering the growth of assisted living software is data breaches associated with it as the software is available over the cloud and on-premise.
The introduction and increasing adoption of open-source assisted living software also restrain the overall growth of the global assisted living software market.
Principal Consultant
| Countries | Revenue Share % (2022) |
|---|---|
| The United States | 19.2% |
| Germany | 7.8% |
| Japan | 6.1% |
| Australia | 2.9% |
| North America | 29.7% |
| Europe | 20.3% |
| Countries | CAGR % (2023 to 2033) |
|---|---|
| China | 12.5% |
| India | 11.2% |
| The United Kingdom | 9.3% |
North America dominated the global assisted living software market share by acquiring 29.7% in 2022. The expansion of the market can be attributed to:
| Attributes | Details |
|---|---|
| Rising Demand | Due to owing to the increasing demand for enhanced services and high-quality care, by the elderly population. |
| Technology Advancements | Countries like the United States of America and Canada are significantly contributing to the assisted living software market growth with the technological advancements in the healthcare sector. |
The growing geriatric population in Europe is positively influencing the assisted living software market size and this region held a market share of 20.3% of the total market share in 2022.
| Attributes | Details |
|---|---|
| Advance Tools | The penetration of eMAR along with analytical tools is driving the assisted living software market growth in the region |
| Growing Automation & IT | The increasing integration of automation and the Internet of Things in the healthcare sector is playing a key role in the growth of assisted living software market in Europe. |
| Category | By Deployment Type |
|---|---|
| Leading Segment | On-Premises |
| Market Share (2022) | 61.2% |
| Category | By Amenity Type |
|---|---|
| Leading Segment | Monitoring Medication |
| Market Share (2022) | 32.6% |
Based on deployment type, the on-premises segment led the market as it held a market share of 61.2% in 2022. The amenity type category also dominated the market by the monitoring medication segment as it held a market share of 32.6% in 2022.
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How are Key Start-ups Stirring the Soup in the Assisted Living Software Market?
Several start-up companies are popping up from all around the region to highlight their unique products which attract the consumer's needs. Also, the start-up companies along with key vendors are welcoming the relevant product that creates huge demand in the market by end-users.
The top Two Start-ups in the Assisted Living Software Market are
Bobe is an Israel-based community engagement start-up platform for senior citizens. The company improves the lifestyle of old age by connecting them with their staff, and residents and managing their daily operations with social life as well.
BEK Medical is another Israel-based company that provides healthy life with home medical equipment to all ages of patients. Some of the equipment are compression stockings, mobility products, and incontinence supplies. The equipment is available at an affordable price whether you pick rehab equipment or diabetic testing equipment.
How are the Biggies Influencing the Assisted Living Software Market?
The assisted living software market is consolidated by the key players present all around the region during the forecast period. Further, the key industries are making several plans and policies as per consumers' demand for the market product to acquire a lion’s share during the forecast period.
Some of the tricks and marketing tactics adopted by them are mergers, acquisitions, partnerships, product launches, and collaboration which are anticipated to boost the assisted living software market share.
Three Key Assisted Living Software Participants:
Recent Developments in the Assisted Living Software Market:
The market is estimated to secure a valuation of US$ 304.9 million in 2023.
The market is estimated to reach US$ 830.1 million by 2033.
Through 2033, the market is anticipated to expand at a 10.5% CAGR.
The market share for the on-premises segment is going to be 61.2%.
32.6% of the market share can be accounted for by the monitoring medication category.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Deployment, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Deployment, 2023 to 2033
5.3.1. On Cloud
5.3.2. On-Premises
5.4. Y-o-Y Growth Trend Analysis By Deployment, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Deployment, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Amenity Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Amenity Type, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Amenity Type, 2023 to 2033
6.3.1. Cooking
6.3.2. Personal Care
6.3.3. Housekeeping and Laundry
6.3.4. Monitoring Medication
6.3.5. Others
6.4. Y-o-Y Growth Trend Analysis By Amenity Type, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Amenity Type, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Western Europe
7.3.4. Eastern Europe
7.3.5. South Asia and Pacific
7.3.6. East Asia
7.3.7. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. USA.
8.2.1.2. Canada
8.2.2. By Deployment
8.2.3. By Amenity Type
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Deployment
8.3.3. By Amenity Type
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Deployment
9.2.3. By Amenity Type
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Deployment
9.3.3. By Amenity Type
9.4. Key Takeaways
10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. United Kingdom.
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Western Europe
10.2.2. By Deployment
10.2.3. By Amenity Type
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Deployment
10.3.3. By Amenity Type
10.4. Key Takeaways
11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Poland
11.2.1.2. Russia
11.2.1.3. Czech Republic
11.2.1.4. Romania
11.2.1.5. Rest of Eastern Europe
11.2.2. By Deployment
11.2.3. By Amenity Type
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Deployment
11.3.3. By Amenity Type
11.4. Key Takeaways
12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Bangladesh
12.2.1.3. Australia
12.2.1.4. New Zealand
12.2.1.5. Rest of South Asia and Pacific
12.2.2. By Deployment
12.2.3. By Amenity Type
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Deployment
12.3.3. By Amenity Type
12.4. Key Takeaways
13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Deployment
13.2.3. By Amenity Type
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Deployment
13.3.3. By Amenity Type
13.4. Key Takeaways
14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Deployment
14.2.3. By Amenity Type
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Deployment
14.3.3. By Amenity Type
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA.
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2022
15.1.2.1. By Deployment
15.1.2.2. By Amenity Type
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2022
15.2.2.1. By Deployment
15.2.2.2. By Amenity Type
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2022
15.3.2.1. By Deployment
15.3.2.2. By Amenity Type
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2022
15.4.2.1. By Deployment
15.4.2.2. By Amenity Type
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2022
15.5.2.1. By Deployment
15.5.2.2. By Amenity Type
15.6. United Kingdom.
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2022
15.6.2.1. By Deployment
15.6.2.2. By Amenity Type
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2022
15.7.2.1. By Deployment
15.7.2.2. By Amenity Type
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2022
15.8.2.1. By Deployment
15.8.2.2. By Amenity Type
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2022
15.9.2.1. By Deployment
15.9.2.2. By Amenity Type
15.10. Poland
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2022
15.10.2.1. By Deployment
15.10.2.2. By Amenity Type
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2022
15.11.2.1. By Deployment
15.11.2.2. By Amenity Type
15.12. Czech Republic
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2022
15.12.2.1. By Deployment
15.12.2.2. By Amenity Type
15.13. Romania
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2022
15.13.2.1. By Deployment
15.13.2.2. By Amenity Type
15.14. India
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2022
15.14.2.1. By Deployment
15.14.2.2. By Amenity Type
15.15. Bangladesh
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2022
15.15.2.1. By Deployment
15.15.2.2. By Amenity Type
15.16. Australia
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2022
15.16.2.1. By Deployment
15.16.2.2. By Amenity Type
15.17. New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2022
15.17.2.1. By Deployment
15.17.2.2. By Amenity Type
15.18. China
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2022
15.18.2.1. By Deployment
15.18.2.2. By Amenity Type
15.19. Japan
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2022
15.19.2.1. By Deployment
15.19.2.2. By Amenity Type
15.20. South Korea
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2022
15.20.2.1. By Deployment
15.20.2.2. By Amenity Type
15.21. GCC Countries
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2022
15.21.2.1. By Deployment
15.21.2.2. By Amenity Type
15.22. South Africa
15.22.1. Pricing Analysis
15.22.2. Market Share Analysis, 2022
15.22.2.1. By Deployment
15.22.2.2. By Amenity Type
15.23. Israel
15.23.1. Pricing Analysis
15.23.2. Market Share Analysis, 2022
15.23.2.1. By Deployment
15.23.2.2. By Amenity Type
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Deployment
16.3.3. By Amenity Type
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. AMERICAN HEALTHTECH
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. Eldermark
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. Yardi Systems, Inc
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. AL Advantage LLC
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. VITALS SOFTWARE
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. MatrixCare, Medtelligent, Inc
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. ECP
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. RealPage, Inc.
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. iCareManager
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. Medtelligent
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Assisted Living Software Market
