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Home Healthcare Software Market Size
Home Healthcare Software Market size is poised to register sizeable growth between 2024-2032, driven by massive investments in the healthcare sector across the globe. As per CDC, six out of every ten Americans are living with a minimum of one chronic illness, such as heart disease, cancer, stroke, or diabetes. The aging population and the increasing prevalence of chronic diseases necessitate efficient & accessible healthcare solutions, spurring demand for home healthcare software.
Additionally, advancements in technology, such as wearable devices and Internet of Things (IoT) sensors, facilitate real-time data collection and analysis, empowering caregivers to deliver personalized and proactive care to patients in their homes.
Home Healthcare Software Market Trends
One notable trend is the increasing integration of artificial intelligence (AI) and machine learning (ML) technologies into home healthcare software solutions, enabling more accurate diagnosis, personalized treatment plans, and predictive analytics for better patient outcomes. Additionally, there is a growing emphasis on interoperability and integration with other healthcare systems, allowing seamless data exchange and collaboration among care teams across different settings. Moreover, the rise of remote patient monitoring and telehealth services fuel the software demand, enabling virtual consultations, remote vital signs monitoring, and medication management from the comfort of patients' homes.
Home Healthcare Software Market Analysis
Based on the product type, telehealth solutions segment is projected to rise notably over 2024-2032, as they facilitate health services and information exchange remotely. With the growing inclination towards distant healthcare and monitoring devices, the adoption of telehealth is anticipated to spur over the upcoming period. Furthermore, various governments are scaling up investments in the space of digital health and telehealth to improve patient outcomes, reduce readmissions and provide timely healthcare at affordable pricing, pushing the segment progression.
In terms of end-user, the hospice agencies segment is estimated to register decent development through 2032, attributed to the rising incidences of terminal illnesses such as advanced cancers, motor neuron disease (MND), Alzheimer’s disease (AD), and advanced chronic disorders. It has been estimated that by 2050, AD will affect 12.7 million Americans aged 65 years and above. The rising need for hospice services considering the rapid deployment of cutting-edge software solutions for enhancing clinical functionality, staffing, scheduling, reporting, billing, and generating custom forms.
North America home healthcare software market size is poised to expand significantly through 2032, due to the growing patient preference for remote healthcare and teleconsultation. The surging geriatric population will further accelerate the need for at-home healthcare as it offers convenience and improved patient experience. Furthermore, the presence of medical device manufacturers and health tech companies will boost the regional industry expansion.
Home Healthcare Software Market Share
The competitive landscape of the home healthcare software industry includes:
- Allscripts Healthcare Solutions, Inc.
- NextGen Healthcare Information System LLC
- Agfa Healthcare (IG Farben)
- Cerner Corporation
- Mckesson Corporation
- GE Healthcare (General Electric)
- Medical Information Technology, Inc. (Meditech)
- Siemens Healthcare.
Home Healthcare Software Industry News
- In May 2022, GE Healthcare inked its foray into homecare with an investment of USD 50 million in well-known Israeli start-up, Pulsenmore. With this venture, the firm aims to boost the distribution of Pulsenmore’s handheld tele-ultrasound device, enabling expectant mothers to conduct ultrasound self-scans at home using a smartphone.