DUBLIN, Jan. 22, 2015 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/np7lxq/longterm_care) has announced the addition of the "Long-term Care Software Market by Product, Mode of Delivery & End User - Global Forecast to 2019" report to their offering.
The global long-term care software market, valued at $1,016.7 million in 2013, is expected to reach $2,074.0 million by 2019 at a CAGR of 12.7% during the forecast period of 2014 to 2019. This market is mainly driven by an increasing demand for long-term care software due to changing population demographics across the globe, rising scarcity of skilled nursing staff, and increasing healthcare developments and government initiatives across the globe.
However, the reluctance of traditional long-term care providers to implement software to manage their work and the high costs of software maintenance are factors that can hinder the growth of this market. Moreover, the low adoption of long-term care software in developing countries due to a lack of awareness poses a challenge for this market and hinders the acceptance of HCIT solutions.
The long-term care software market, by product, is segmented into clinical software and non-clinical software. The clinical software segment includes EMR/EHR, e-prescribing, electronic medication administration records, medication management, and clinical decision support systems. The non-clinical software segment includes real-time location systems, remote patient monitoring systems, remote training and supervision systems, payroll management, talent management software, and billing, invoicing and scheduling software.
The market, by mode of delivery, includes on-premise, web-based and cloud-based software. The major end users of the long-term care software in this report are home health agencies, nursing homes and assisted living facilities, and hospices. The market is further divided into four major regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). These regions are further analyzed at the country-level. This report also discusses key market drivers, restraints, opportunities, challenges, and burning issues in the global long-term care software market and submarkets.
North America accounted for the largest share of the long-term care software market in 2013. The growing demand for integrated long-term care software for administrative and clinical purposes, rapidly increasing aging population, and a rising need to curtail growing healthcare costs are factors driving the market in North America. Initiatives by the European Commission to complement healthcare IT adoption are expected to increase the demand for long-term care software in this region. On the other hand, Asia-Pacific is expected to grow at the highest CAGR of 15.8%, which is attributable to the growth in aging population.
Prominent players in the market are Cerner Corporation (U.S.), Omnicare Inc. (U.S.), AOD Software (U.S.), Kronos (U.S.), PointClickCare (Canada), Omnicell, Inc. (U.S.), McKesson Corporation (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), MatrixCare (U.S.), SigmaCare (U.S.), Optimus EMR (U.S.), and HealthMEDX LLC (U.S.).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Insights
7 Long-Term Care Software Market, By Product
8 Long-Term Care Software Market, By Mode Of Delivery
9 Long-Term Care Software Market, By End-User
10 Long-Term Care Software Market, By Geography
11 Competitive Landscape
12 Company Profiles
- Allscripts Healthcare Solutions, Inc.
- Aod Software (Advanced Answers On Demand, Inc.)
- Cerner Corporation
- Kronos Incorporated
- Matrix Care
- Mckesson Corporation
- Omnicare, Inc.
- Omnicell, Inc.
- Optimus Emr
For more information visit http://www.researchandmarkets.com/research/np7lxq/longterm_care
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SOURCE Research and Markets