Industry Background:
The global Long-term Care Software market is expected to boost high demand in the forecasted period due to the rising adoption of E prescribing across the world. "Long-term care" (LTC) is a term that can refer to any post-acute or extended-care setting: from nursing homes to assisted living facilities to adult daycare centers to home health care. The patients who receive care in these settings may be any age or gender, but the modal LTC patient is elderly. Long-term care is a service that helps meet the medical and nonmedical needs of people with chronic illnesses or disabilities. It involves a variety of services designed to meet a person's health or personal care needs during a short or long period of time
According to AMA, the market for Long-term Care Software is expected to register a CAGR of 15.3% during the forecast period to 2026. This growth is primarily driven by The Rise in the Aging Population and Growing Burden of Chronic Diseases.
Globally, a noticeable market trend is evident Shortage Of Nursing Staff And Doctors
. The Internet Software & Services sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Cerner Corporation (United States), Omnicare, Inc. (United States), AOD Software (United States), Kronos (United States), PointClickCare (Canada), Omnicell, Inc. (United States), McKesson Corporation (United States), Allscripts Healthcare Solutions, Inc. (United States), MatrixCare (United States) and SigmaCare (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 31st July 2019, Cerner has announced a collaboration with cloud giant Amazon Web Services, with the aim of accelerating healthcare innovation. As part of the agreement, Cerner is naming AWS its preferred cloud provider.
Market Drivers
- The Rise in the Aging Population
- Growing Burden of Chronic Diseases
Market Trend
- Shortage Of Nursing Staff And Doctors
- Healthcare Reforms and Government Initiatives
Restraints
- The Unwillingness of the Traditional Long-term Care Providers to Adopt Software
- High Software Investment and Maintenance Costs
Opportunities
Remote Patient Monitoring Opens New Growth Avenues For The Market and Cloud-Based Software Offers Significant Opportunities
Challenges
Lower Adoption Of Long-Term Care Software In Developing Countries
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Long-term Care Software Study Sheds Light on
The Long-term Care Software Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Long-term Care Software industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Long-term Care Software industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.