Industry Background:
Due to increasing technological advancements over the past couple of decades as well as changing lifestyles has led to increasing demand for innovative and improved patient care services. In addition to this, growing adoption of analytical tools as well as prescription processing has upsurge the demand for assisted living software. This software operates on real-time solutions to monitor and manage patient conditions. It also automates the healthcare services and centers with less need for human interventions which will further upsurge the demand for assisted living software.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | American Healthtech (United States), Yardi Systems Inc. (United States), RealPage (United States), PointClickCare Corp. (Canada), MatrixCare, Inc. (United States), AL Advantage, LLC. (United States), Assisted Living Services Inc. (United States), CareMerge LLC (United States), Carevium, Inc. (United States) and CareVoyant, Inc. (United States) |
According to AMA, the market for Assisted Living Software is expected to register a CAGR of 9.12% during the forecast period to 2028. This growth is primarily driven by Upsurging Demand for Technologically Enhanced Quality Care and Assisted Living Software offers Better Comfort, Security, and Satisfaction.
Globally, a noticeable market trend is evident Adoption of Quickly Accessible Assisted Living Software
The Application Software sector in the North Amercia 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 American Healthtech (United States), Yardi Systems Inc. (United States), RealPage (United States), PointClickCare Corp. (Canada), MatrixCare, Inc. (United States), AL Advantage, LLC. (United States), Assisted Living Services Inc. (United States), CareMerge LLC (United States), Carevium, Inc. (United States) and CareVoyant, Inc. (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 October 9, 2018, a leading provider of electronic health records (EHR) for the post-acute and senior living markets, "American HealthTech (AHT)" and a market leader in securing healthcare communication, "QliqSOFT" have formed a strategic partnership that will allow caregivers to use integrated Qliq Secure Texting. This partnership ensures text communications are secure and HIPAA compliant, which will give caregivers peace of mind and efficiency with patient-centered communications.
In November 2022 PointClickCare Technologies, a leading healthcare technology platform enabling meaningful collaboration and access to real-time insights, today announced a strategic collaboration with Pfizer Inc. to provide real-world insights into people at high risk for age-related disorders. It aligns with PointClickCare's mission to protect and support seniors.
Influencing Trend:
Adoption of Quickly Accessible Assisted Living Software and Integration of Healthcare Software with Hospital ERP Systems
Market Growth Drivers:
Upsurging Demand for Technologically Enhanced Quality Care and Assisted Living Software offers Better Comfort, Security, and Satisfaction
Challenges:
Large or scarce competition from local and domestic brands
Restraints:
Lack of Awareness about the Highly Automated Healthcare Services and Growing Instances of Data Breaches in Healthcare Softwares might Stagnate the Demand
Opportunities:
Introduction to IoT Based Assisted Living Software across the Globe and Continues Technological advancements as well as Growing Adoption from Developing Countries
AMA Research follows 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 showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze 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 includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Assisted Living Software Market
- Analysis about New Entrants in Assisted Living Software Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Assisted Living Software Study Sheds Light on
The Assisted Living Software Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Assisted Living Software industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Assisted Living Software industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, 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 the value they currently claim or capture the new addressable opportunity.