New York, NY -- (SBWIRE) -- 05/04/2020 -- "Long-term care" (LTC) is a term that can refer to any post-acute or extended-care setting: from nursing homes to assisted living facilities to adult day care centers to home health care. The patients who receive care in these settings may be any age or gender, but the modal LTC patient is elderly.

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Several factors including but not limiting to demographic trends, limited healthcare specialists and different initiatives taken by government bodies worldwide to reduce the medical cost have contributed to the growth of the market. However, opposition by LTC providers to embrace software and high cost involved in the maintenance are obstructing the development of the market. On the other hand, North American region is likely to create greater opportunities.

A closer look at the competitive landscape reveals that major IT brands are busy launching solutions and generating clients in the same month itself. Prominent market players are also seen acquiring new companies or local market players to maintain their competitive edge. Other business strategies favored by the companies include joint ventures and collaborations. Key market players active in the long-term care software market includes AOD Software, HealthMEDX LLC, MatrixCare, Optimus EMR, Omnicell, Inc., PointClickCare, Allscripts Healthcare Solutions, Inc., Cerner Corporation and SigmaCare.

The market by product comprises clinical software and non-clinical software. The market by mode of delivery includes web-based, on-premise, and cloud-based modes. The market by end users contains home health agencies, nursing homes and assisted living facilities, and hospice facilities.

Based on Product, the report describes major products type share of regional market. Products mentioned as follows:
EHR
eMAR
Payroll Management

Based on Application, the report describes major application share of regional market. Application mentioned as follows:
Nursing Homes
Home Health Agencies
Assisted Living Facilities

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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.

North America holds the largest share of the global long-term care software market. However, in forthcoming years, developing regions such as Asia-Pacific (Japan, China, and India) and Latin America are expected to emerge as new revenue-generating pockets for the market players. Economic developments and changing demographic trends in these regions are key factors driving the growth of the long-term care software market in developing regions.

Few Toc points :

5 Market Segmentation by Application
5.1 Market Size
5.1.1 Nursing Homes Market, 2013-2018
Figure Nursing Homes Market Size and Growth, 2015-2019 (USD Million)
Figure Market Size and Growth, 2015-2019 (in Volume)

Table Nursing Homes CAGR by Revenue and Volume, 2015-2019
5.1.2 Home Health Agencies Market, 2013-2018
Figure Home Health Agencies Market Size and Growth, 2015-2019 (USD Million)
Figure Market Size and Growth, 2015-2019 (in Volume)
Table Home Health Agencies CAGR by Revenue and Volume, 2015-2019
5.1.3 Assisted Living Facilities Market, 2013-2018
Figure Assisted Living Facilities Market Size and Growth, 2015-2019 (USD Million)
Figure Market Size and Growth, 2015-2019 (in Volume)
Table Assisted Living Facilities CAGR by Revenue and Volume, 2015-2019
5.2 Market Forecast
5.2.1 Nursing Homes Market Forecast, 2020-2025
Figure Nursing Homes Market Estimates and Forecasts, 2020-2025 (USD Million)
Figure Nursing Homes Market Estimates and Forecasts, 2020-2025 (in Volume)
Table Nursing Homes CAGR by Revenue and Volume, 2020-2025
5.2.2 Home Health Agencies Market Forecast, 2020-2025
Figure Home Health Agencies Market Estimates and Forecasts, 2020-2025 (USD Million)
Figure Home Health Agencies Market Estimates and Forecasts, 2020-2025 (in Volume)

Table Home Health Agencies CAGR by Revenue and Volume, 2020-2025
5.2.3 Assisted Living Facilities Market Forecast, 2020-2025
Figure Assisted Living Facilities Market Estimates and Forecasts, 2020-2025 (USD Million)
Figure Assisted Living Facilities Market Estimates and Forecasts, 2020-2025 (in Volume)
Table Assisted Living Facilities CAGR by Revenue and Volume, 2020-2025

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