The North America long-term care software market size is anticipated to reach USD 2.1 billion by 2025, according to this report. It is projected to expand at a CAGR of 12.4% over the forecast period. Aging baby boomers, growing incidence of chronic diseases, and government initiatives to include long-term care software in healthcare facilities are anticipated to drive the growth. With increasing demand for formal care, new technologies are being adopted to provide better and personalized care to the elderly, which is likely to further fuel the market during the forecast period.
The North America long-term care software market is likely to witness a high growth due to increasing geriatric population, awareness, and reforming healthcare infrastructure to provide affordable healthcare to senior citizens. According to the Health Trends Alberta projection, increasing geriatric population is expected to add USD 3.8 million to the health care costs of Canada by 2030.
Various strategic initiatives by market players are expected to boost the LTC software market growth. In August 2018, Mediware Information Systems acquired BlueStrata EHR to expand its long-term care software technology solutions. The acquisition is expected to support Mediware to meet healthcare needs of the aging population.
Moreover, various mergers and acquisitions are anticipated to fuel market growth. For instance, in October 2016, Netsmart acquired HealthMEDX to broaden its U.S. long-term care solutions for home care providers, nursing facilities, retirement communities, and assisted and independent living facilities.
Companies also focus on regional expansions through business collaborations. In April 2016, Good Shepherd Rehabilitation Network opted for Cerner Millennium clinical and financial management solutions to implement integrated Electronic Health Record (HER) system in 40 outpatient facilities in Eastern Pennsylvania, resulting in regional expansion for Cerner Corporation.
Further key findings from the report suggest:
EHR accounted for the largest market share in 2017 owing to better medical care and accurate patient information provided by the software
Cloud-based solution is anticipated to be the fastest growing segment during the forecast period due to cost-effectiveness, less operational issue, low investment, and ease of implementation with advanced security
U.S. dominated the North America long-term care software market and is likely to witness significant growth over the next decade due to rising aging population demanding long-term care coupled with need to lower the healthcare costs
Some of the key market players are Allscripts Healthcare Solutions, Inc.; Epic Systems Corporation; Cerner; McKesson Corporation; Omnicare; Omnicell, Inc.; MatrixCare; Optimus EMR; Netsmart; and PointClickCare.
This product will be delivered within 1-3 business days.
The North America long-term care software market is likely to witness a high growth due to increasing geriatric population, awareness, and reforming healthcare infrastructure to provide affordable healthcare to senior citizens. According to the Health Trends Alberta projection, increasing geriatric population is expected to add USD 3.8 million to the health care costs of Canada by 2030.
Various strategic initiatives by market players are expected to boost the LTC software market growth. In August 2018, Mediware Information Systems acquired BlueStrata EHR to expand its long-term care software technology solutions. The acquisition is expected to support Mediware to meet healthcare needs of the aging population.
Moreover, various mergers and acquisitions are anticipated to fuel market growth. For instance, in October 2016, Netsmart acquired HealthMEDX to broaden its U.S. long-term care solutions for home care providers, nursing facilities, retirement communities, and assisted and independent living facilities.
Companies also focus on regional expansions through business collaborations. In April 2016, Good Shepherd Rehabilitation Network opted for Cerner Millennium clinical and financial management solutions to implement integrated Electronic Health Record (HER) system in 40 outpatient facilities in Eastern Pennsylvania, resulting in regional expansion for Cerner Corporation.
Further key findings from the report suggest:
EHR accounted for the largest market share in 2017 owing to better medical care and accurate patient information provided by the software
Cloud-based solution is anticipated to be the fastest growing segment during the forecast period due to cost-effectiveness, less operational issue, low investment, and ease of implementation with advanced security
U.S. dominated the North America long-term care software market and is likely to witness significant growth over the next decade due to rising aging population demanding long-term care coupled with need to lower the healthcare costs
Some of the key market players are Allscripts Healthcare Solutions, Inc.; Epic Systems Corporation; Cerner; McKesson Corporation; Omnicare; Omnicell, Inc.; MatrixCare; Optimus EMR; Netsmart; and PointClickCare.
This product will be delivered within 1-3 business days.
Table of Contents
Chapter 1 Research Methodology
Chapter 4 Market Variables, Trends & Scope
Chapter 5 North America Long-term Care Software Market: Product Estimates & Trend Analysis
Chapter 6 North America Long-term Care Software Market: Mode of Delivery Estimates & Trend Analysis
Chapter 7 North America Long-term Care Software Market: End Use Estimates & Trend Analysis
Chapter 8 North America Long-term Care Software Market: Regional Estimates & Trend Analysis, by Services
Chapter 9 Competitive Landscape
Companies Mentioned
- Allscripts Healthcare Solutions, Inc.
- Epic Systems Corporation
- Cerner
- McKesson Corporation
- Omnicare
- Omnicell, Inc.
- MatrixCare
- Optimus EMR
- Netsmart
- PointClickCare
Methodology
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