LONDON, July 18, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the long term care software market identifies the growing number of healthcare organizations to be a major driver for the long-term care software industry forward. A healthcare organization (HCO) is any legal entity that impacts the prescription, ordering, supply, utilization, and sale of medical technologies or related services. Long-term care software services are used by healthcare organizations for the safe transmission of patient data, improved patient outcomes, speedier treatment, multidevice synchronization, and other purposes. As a result, an increasing number of healthcare organizations are propelling the long-term care software market forward. According to the Federal University of Rio Grande do Sul, a public federal research university in Brazil, 834 active chronic dialysis facilities were registered with the Brazilian Society of Nephrology in 2020, which is 3.6% more than the number of dialysis centers registered in 2019. As a result, the growing number of healthcare companies propels the long-term care software market.
The global long term care software market size is expected to grow from $3.85 billion in 2022 to $4.32 billion in 2023 at a compound annual growth rate (CAGR) of more than 12%. The global long term care software market is expected to reach $6.8 billion in 2027 at a CAGR of more than 12%.
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Major players in the long term care software market are McKesson Corporation, Optimus EMR, PointClickCare Corp., Matrixcare Inc., Allscripts Healthcare Solutions, Kronos Inc., AOD Software, Netsmart Technologies Inc., Yardi Systems Inc., Eldermark Software, ADL Data Systems Inc., HealthMEDX LLC, Intellitec Solutions, BlueStrata EHR Software, Wellsky Corporation, Lintech Software, Epic Systems Corporation, and Medtelligent Inc.
Technological developments are a major trend that is gaining traction in the long-term care software market. To maintain their market position, major players in the long-term care software market are embracing new technology. For example, in February 2022, Creative Solutions in Healthcare, a US-based healthcare company, launched Connected Care Center, a software platform. The Connected Care Center is a user-friendly and simply available resident health information portal that provides residents, authorized family members, and friends with access to current health data.
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As per the report, North America was the largest region in the long term care software market in 2022.
The global long term care software market is segmented by product into clinical software, non-clinical solutions; by deployment type into web-based, on-premises, cloud-based; by end-user into home healthcare agencies, hospice care facilities, nursing homes and assisted living facilities
Long Term Care Software Global Market Report 2023 by The Business Research Company provides insights on the long term care software market size, long term care software market segments, long term care software market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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