The market for non-clinical homecare software is growing at a sound pace. The market is expected to grow at the CAGR of 13.5% during the forecast period and is estimated to reach USD 6,408.8 million by 2023.
Key Players for Global Non-clinical homecare software Market:
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Market Scenario:
Homecare software is a specifically designed software to manage all the operations in the homecare industry. Individuals with some disability and elderly population, who are unable to manage their daily routine activities, are dependent upon homecare services provided by well-known homecare agencies. Agency administrators take advantage of home care software to provide quality services, to manage various operational activities, and to automate the workflow. According to the Centers for Disease Control and Prevention, it is reported that in 2014, nearly 12,400 home health agencies were running and around 4.9 million individuals received home care services in the U. S.. The global nonclinical homecare software market is majorly driven by increasing prevalence of chronic diseases for instance, lung cancer, cardiovascular diseases, and others, increasing number of healthcare agencies procedures, and increasing demand for home healthcare. According to the WHO (World Health Organization), in 2015, 1.8 million people across the globe were suffering from lung cancer. Increasing geriatric population and healthcare expenditure have boosted market growth. Moreover, changing environmental condition and increasing per capita income have fuelled the growth of the market over the review period. However, high cost of the software, data security concerns, and limited availability of skilled professionals may slow the growth of the market.
Key Findings:
- Agency systems segment accounted for the largest market share in the global nonclinical homecare software market, by application and is expected to grow at a CAGR of 13.8 % during the forecast period.
- Telehealth systems is the fastest growing segment by application market share in 2016. The market of telehealth systems is expected to growth at a CAGR of 13.9% during 2016-2023.
- On the basis of end user, private home care agency segment has accounted for the largest market share of 34% in the global non-clinical homecare software market.
- The Americas non-clinical homecare software market is expected to reach USD 2,521.3 million by 2023.
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Segmentation:
Nonclinical Homecare Software Market Trendsis segmented on the basis of application, and end users.
The global non-clinical home care software market, by application is segmented into agency systems, non-clinical health management systems, telehealth systems, and others. The agency system is further classified into billing, invoicing & scheduling, homecare accounting system, personnel management system & payroll, and others.
On the basis of end user, the market is segmented into private home care agency, rehabilitation centers/therapy centers, hospice care, and others.
Regional Analysis:
Considering the global scenario of the market, America dominates the global nonclinical homecare software market owing to the presence of huge patient population, high healthcare spending and a well-developed healthcare sector. Presence of huge geriatric population and high per capita income have fuelled the market growth in this region.
North America held the largest market share in the American non-clinical homecare software market, in 2016. According to the Centers for Medicare & Medicaid Services, in 2015, U.S. healthcare spending increased 5.8% during last few years. Additionally, increasing government support has fuelled the market growth of the American non-clinical homecare software market. Europe commanded for the second largest market for the non-clinical homecare software which is followed by Asia Pacific owing to a well-developed healthcare sector, increasing prevalence of chronic diseases and high healthcare spending. Asia Pacific is the fastest growing market which is mainly due to rapidly increasing healthcare expenditure, increasing geriatric population, huge population base, and presence of huge opportunity for the development of the market. The Middle East & Africa is expected to have limited growth. The Middle East is dominating this market by holding a major share of the Middle East & Africa market owing to a well-developed technology and healthcare sector.
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Nonclinical Homecare Software Market Overview:The nonclinical homecare software market size declares that the growth possibilities in the coming years would touch a valuation of USD 6,408.8 million by 2023 with a growth rate of 13.5% CAGR in between 2016 to 2023, which Market Research Future (MRFR) would assess as a forecast period.
The software has been developed especially for elderly people and people with some sort of disability.
The global Nonclinical Homecare Software Market Trends is witnessing a rise in the registering of chronic diseases owing to which people are now putting up requirements for such assistance.
However, the market can find distraction in the shape of high cost of various software, data security concerns, and lack of skilled professionals who can provide the support.
The dominance of America would be considerable as the region would benefit from a significant patient population, better healthcare spending, and a well-structured healthcare sector.
It can touch a valuation of USD 2,521.3 million by 2023.
