The global long-term care software market size is estimated to be valued at USD 3,877 Million in 2022 and is anticipated to surpass USD 10,988 Million by 2032, with a CAGR of 11% during the forecast period (2022 to 2032).
| Report Attribute | Details |
|---|---|
| Long-term Care Software Market Value (2022) | USD 3,877 million |
| Long-term Care Software Market Anticipated Forecast Value (2032) | USD 10,988 million |
| Long-term Care Software Market Projected Growth Rate (2022 to 2032) | 11% |
The long-term care software market share is anticipated to be driven by increasing elderly population.
Furthermore, the sales of long-term care software are projected to grow in hospitals, home care settings, nursing homes, and other healthcare delivery settings.
Long-term care software is a technical service or solution that is utilized to address the clinical and non-clinical demands of patients and healthcare professionals. Due to these factors the demand for long-term care software is anticipated to grow during the forecast period.
The long-term care software programs make operating healthcare facilities simpler and more effective, which lowers healthcare expenses and improves efficiency.
The vital factor accelerating the demand for long-term care software is the rise in chronically ill patients as a result of the aging population.
Other factors propelling the demand for long-term care software include the need for lower healthcare costs, more nursing staff and doctors, more healthcare reforms and government initiatives.
Furthermore, the long-term care software market size is projected to grow due to the aging population, and the rising shortage of skilled staff and professionals for the provision of proper healthcare services.
Additionally, the industry is seeing increased remote patient monitoring, and the long-term care software market is expected to see increased demand for cloud-based software throughout the anticipated period of 2022 to 2032.
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The demand for long-term care software is expanding as a result of the digitalization of healthcare technologies. The long-term care software market's primary growth drivers include changing healthcare infrastructure, a staffing shortage, and the use of technological solutions in healthcare institutions.
The sales of long-term care software are also expanding due to a shortage of healthcare professionals and various efforts made by governments around the world to lower medical costs.
In addition, the rising use of mobile devices in healthcare organizations and the rise in the number of healthcare organizations are the major drivers of the long-term care software market expansion.
Due to advancements in the effectiveness and safety of drug treatment over the past few years, long-term care software has attracted a great deal of attention.
The primary reason driving the increase in demand for long-term care software is the growing requirement for healthcare IT solutions to boost long-term care facilities' operational effectiveness.
The long-term care software market outlook is expanding due to numerous government initiatives taken by governments around the world to reduce the rising expense of healthcare.
Applications of long-term care software, such the long-term care software, can manage remote patient video conferencing, scheduling, and messaging, analyze millions of data records, and swiftly identify possible difficulties before they become problems.
The primary factor that could hinder the growth of the long-term care software market in the near future is the high cost of software maintenance.
Furthermore, another possible challenge impeding the growth of the long-term care software industry in the near future is the resistance of the traditional long-term care providers to adopt new software.
Due to the widespread use of long-term care software in this region, North America dominates the global long-term care software market with a share of 30.0%.
Due to the healthcare sector's rapid development and the widespread use of web-based and cloud-based long-term care software in developing nations, Europe is one of the regions with the highest expectations for growth in the long-term care software market.
Europe is anticipated to hold 19.7% of the overall long-term care software market share. Due to the healthcare industry's rapid infrastructure development, Europe's long-term care software market is anticipated to increase its share significantly throughout 2032.
Additionally, due to government initiatives in the healthcare sector by emerging economies like India, China, and Japan, APAC is anticipated to have the greatest growth in the long-term care software market.
The National Institute on Aging (NIA) supports and assists in undertaking research on aging, as well as the health and wellbeing of senior citizens.
The National Association of States United for Aging and Disabilities (NASUAD), the Long-Term Care Choices Navigator in Minnesota, the Massachusetts Department of Elder Affairs, and the Georgia Department of Human Services (DHS) Division of Aging Services are just a few of the state-level initiatives.
Due to the advancement of digital technologies and the rising use of mobile devices in the region's healthcare industry, the long-term care software market in Latin America and MEA is anticipated to experience rapid expansion over the next years.
Allscripts Healthcare Solutions, Inc., Cerner Solutions, Omnicare, Inc., Omnicell, Inc., HealthMEDX, LLC, McKesson Corporation, Optimus EMR, Inc., PointClickCare, MatrixCare, and SigmaCare are some of the key players in long-term care software market.
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| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 11% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2014 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Delivery modes, End-users, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Cerner Corporation; Omnicare Inc; AOD Software; Kronos; PointClickCare; Omnicell, Inc; McKesson Corporation; Allscripts Healthcare Solutions, Inc.; MatrixCare; SigmaCare; Optimus EMR; HealthMEDX LLC. |
| Customization | Available Upon Request |
The global long-term care software market is set to advance at a CAGR of 11% from 2022 to 2032.
North America is anticipated to hold a long-term care software market share of 30%.
The long-term care software market is likely to account for USD 10,988 Million by 2032.
| CAGR (2023 to 2033) | 7.2% |
|---|---|
| Market Size (2023) | USD 52.877 billion |
| Market Size (2033) | USD 105.753 billion |
| Market Value in 2021 | USD 3,895.56 Million |
|---|---|
| Market Value in 2032 | USD 12,647.85 Million |
| Market CAGR (2022 to 2032) | 11.3% |
| Market Size (2023) | USD 4.2 Billion |
|---|---|
| Market Value (2033) | USD 16.2 Billion |
| Value CAGR (2023 to 2033) | 14.5% |
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Long-term Care Software Market
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