DALLAS, TX -- ReportsnReports.com adds Home Healthcare Software - Product & Service Market - Application (Clinical, Non - Clinical), Usage (Laptop, Smartphone), Product (Agency, Clinical Management System, Telehealth, Hospice), Delivery (Web - Based, On - Premises, Cloud), End User - Global Forecast to 2018 research report of 230 pages to its online library. This research says Homecare-EMR, electronic point-of-care documentation, and homecare-CRM are lucrative markets for investors. It forecasts the global home healthcare software market to reach $6.4 billion by 2018, at a CAGR of 13.4% between 2013 and 2018.
Clinical management system accounted for the largest share - 35% - of global home healthcare software and services market. Clinical Management system and telehealth solutions are estimated to grow at brisk pace over the next five years. The high growth in these segments can be attributed to the growing demand for quality care at point-of-care, real time access of patient's data, and rising medication errors. Furthermore, the implementation of this system will help in reducing healthcare costs, and re-admission rates. By application, non-clinical solutions accounted for the largest share of 53% of the home healthcare software and services market. Homecare-CRM will be the non-clinical application that will gain maximum share in the market by 2018. The key growth attractants in the clinical solutions are homecare-EMR, and electronic point-of-care documentation.
New technologies such as cloud computing, mobile technology, and telehealth solutions have emerged as efficient models to transform the healthcare system. Cloud computing segment offers significant benefits to the healthcare sector. It provides quick access to patient data, ability to share information more easily, and also improves operational efficiency. Owing to these factors, this segment is expected to be a major revenue pocket for the homecare software market in the coming years. Countries such as China, India, South Korea, and Australia will also offer potential growth opportunities to homecare software and services stakeholders. Saudi Arabia, Qatar, Bahrain, and Brazil will also emerge as lucrative markets for homecare software and services providers.
Companies from home healthcare software product and services market profiled in this research report include Allscripts Healthcare Solutions Inc., Cerner Corporation, Continulink Llc, Delta Health Technologies, Hearst Corporation, Healthmedx, Kinnser Software Inc., Mckesson Corporation, Medical Information Technology Inc. (Meditech) and Thornberry Limited. Order a copy of this research at http://www.reportsnreports.com/Purchase.aspx?name=285857 .
The three most important delivery modes considered for the study are web-based, on-premises, and cloud computing. Owing to the growing need to meet the requirement of enhanced security and accessibility, the cloud computing mode of delivery is expected to grow at a brisk pace in the forecast period (2013-2018).Furthermore, cloud computing also reduces the burden on healthcare systems, as the need for an IT staff and cost on hardware development can be eliminated.
Geographic analysis reveals that North America was the largest contributor to the global home healthcare software market in 2013 and will be the second fastest growing region for home healthcare software market till 2018. Factors driving the North American market are the growing demands for integrated solutions, firm support from the U.S. federal government, Obama's new budget plan regarding reimbursement cut by 1.1% per year to home care agency that enforce them to adopt homecare IT solutions, growth in aging population, growing healthcare cost, and growth in patient consumerism for quality care.
Globally, the home healthcare software and services market will be driven by the growing pressure to reduce healthcare costs, growing patient consumerism for quality care, shortage of nursing and staff, government support and healthcare reforms, and hospital readmission reduction program by U.S. Affordable Care Act. The major bottlenecks for the growth of this market are the growing concerns over security, interoperability, integration challenges, costs incurred while integrating, problems in implementing homecare solutions, incomplete or poor quality of data entry, and poor IT skills among homecare staff. Cloud based delivery mode, telehealth solutions, and mobile technology offer huge growth opportunities for home care software and services vendors, globally.
Above all, the updated version of OASIS documentation and ICD 10 conversation system offers tremendous opportunities to homecare software vendors as there will be an increase in demand for training, and software development and testing. The grey area while estimating the market size is the fragmented nature of the market from both suppliers end as well as consumers end, and complex structure of homecare solutions. From an insight perspective, this research report focuses on the qualitative data, market size, share, and growth of various segments and sub-segments, competitive landscape, and company profiles.
The qualitative data covers various levels of industry analysis, such as market dynamics (drivers, restraints, opportunities, and threats), and porter's five forces analysis at global level. The report also offers market shares, sizes, and related growth of various segments in the industry. It also focuses on the emerging and high-growth segments of homecare software and services market (Clinical management system, telehealth solution, homecare EMR, and homecare CRM), high-growth regions, and the initiatives of their respective governments.
The competitive landscape covers the growth strategies adopted by industry players in the last three years. The company profiles comprise the basic views on the key players in the homecare software and services market and the product portfolios, developments, and strategies adopted by market players to maintain and increase their market shares in the near future. The above-mentioned market research data, current market size, and forecast of future trends will help the key players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.
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