Long-term Care Software Market by Mode of Delivery, Product & End-User - 2019

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Long-term Care Software Market worth $7,561.9 Million by 2019 http://www.marketsandmarkets.com/Market-Reports/long-term-care-software-market2959239.html

The global long-term care software market, valued at $3,512.4 million in 2013, is expected to reach $7,561.9 million by 2019 at a CAGR of 13.7% 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..

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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.), Optimus EMR (U.S.), and HealthMEDX LLC (U.S.). http://www.marketsandmarkets.com/Market-Reports/long-term-care-software-market2959239.html

The long-term care software market, by product, is segmented into clinical solutions and non-clinical solutions. The clinical solutions segment includes EMR/EHR, e-prescribing, electronic medication administration records, medication management, and clinical decision support systems. The non-clinical solutions 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 cloudbased 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, AsiaPacific, 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 market and submarkets.

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North America accounted for the largest share of the 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 in this region.

On the other hand, Asia-Pacific is expected to grow at the highest CAGR of 19.5%, which is attributable to the growth in aging population.

Speak to Research Analyst: http://www.marketsandmarkets.com/speaktoanalyst.asp?id=2959239 The long-term care software market has witnessed significant growth in the past few years, mainly due to several factors such as demographic trends, shortage of healthcare practitioners, and various government initiatives across the globe to curtail increasing healthcare costs. However, reluctance by traditional LTC providers to adopt software, and the high cost of software maintenance are hampering the growth of this market to a certain extent. Moreover, the low adoption of LTC software by developing countries poses challenges for this market. http://www.marketsandmarkets.com/Market-Reports/long-term-care-software-market2959239.html

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