With Market Size Valued at $7 Billion by 2026, it`s a Healthy Outlook for the Global Home Healthcare Software Market

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Feb 22, 2022, 10:35 ET

SAN FRANCISCO, Feb. 22, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Home Healthcare Software - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE

Home Healthcare Software - FEB 2022 Report

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Edition: 10; Released: February 2022
Executive Pool: 698
Companies: 133 - Players covered include Allscripts Healthcare Solutions, Inc.; Cerner Corporation; Delta Health Technologies, LLC; HealthMEDX; Kinnser Software; McKesson Corporation; Medical Information Technology, Inc.; Thornberry Limited and Others.
Coverage: All major geographies and key segments
Segments: Component (Solutions, Services)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Home Healthcare Software Product and Service Market to Reach $7 Billion by 2026
Home healthcare software comprises a part of health care information technology, aimed at providing a wide range of home health care services for treatment of various illnesses and injuries. Provision of care in settings other than acute settings is expected to form a critical constituent of healthcare reform, given the surging pressure on spending associated with healthcare across the world. And in support of this, technological developments have resulted in medical equipment that can be used in settings outside acute care. Consumers perceive homecare as a less expensive and more comfortable alternative to institutionalized care. With the focus on preventing hospital-associated infections at an all-time high, healthcare institutions are supporting the homecare trend. Government and health authorities are encouraging homecare in order to reduce the strain on public sector healthcare systems. Against this backdrop, home healthcare software is expected to witness heightened demand during the analysis period. Appropriate homecare is also estimated to act as preventive care and reduce the number of hospital visits required by a disabled individual. Furthermore, the absence of appropriate legislative policies, in developing countries to encourage institutionalized care is also anticipated to be a major factor in the higher adoption of homecare, leading to increased sales in personal mobility assistive equipment.

Amid the COVID-19 crisis, the global market for Home Healthcare - Software Product and Service estimated at US$4.1 Billion in the year 2022, is projected to reach a revised size of US$7 Billion by 2026, growing at a CAGR of 13.4% over the analysis period. COVID-19 has overwhelmed home healthcare agencies with patients owing to limited access to medical services for treatment of chronic medical conditions, elderly care and post-infection rehabilitation. The combination of COVID-19-induced demand for home care, rising incident of chronic medical conditions and increasing geriatric population is poised to significantly benefit the home healthcare market.

The U.S. Market is Estimated at $1.4 Billion in 2022, While China is Forecast to Reach $1.2 Billion by 2026
The Home Healthcare Software Product and Service market in the U.S. is estimated at US$1.4 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2026 trailing a CAGR of 18.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.5% and 12.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.3% CAGR. While the US is considered the pioneer in home healthcare among developed nations, European countries are also picking up the trend. The number of people undergoing treatment in sub-acute and homecare settings, apart from cases of same day surgery, is on the rise. Also reflecting this trend is the increase in the number of homecare equipment dealers in the region. More

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Phone: 1-408-528-9966
www.StrategyR.com
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