AUSTIN, USA, November 27, 2024 (Globe Newswire) — According to SNS Insider, the home healthcare software market will be valued at USD 12.16 billion in 2023 and grow to USD 38.92 billion by 2032. is expected to reach 20% and is growing at a CAGR. 13.8% for the forecast period 2024-2032.
This growth is being driven by several factors, including an aging population, increased demand for home health care, and advancements in software solutions that improve patient care management and operational efficiency.
Home Health Software Growth – Product and Services Market Driven by Technology Consolidation and Changing Patient Preferences
Increasing interest in home care has increased the demand for home health care services in recent years. Technological innovations are facilitating more effective management and monitoring of patients. As the elderly population continues to grow, healthcare systems are focused on reducing hospitalizations. This has increased the need for enhanced home healthcare solutions, including patient management and service delivery software.
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Market overview
The Home Healthcare Software – Products and Services market is a very broad category of tools and platforms that streamline and enhance healthcare services in the home environment. We have solutions that fit the operational needs of healthcare providers and the specific care requirements of their patients. These include agency management platforms, patient management platforms, scheduling tools, billing technology, and compliance tracking tools that help increase efficiency, reduce costs, and improve patient outcomes.
The increase in the number of elderly people who require long-term care and the number of people with chronic diseases is thought to be driving demand for home health care services. With these drivers in place, the market for home health software products and services is expected to grow in parallel, with the aim of enhancing service delivery and increasing patient satisfaction by providers. Innovations in cloud computing, telemedicine, and mobile applications for healthcare are driving the supply side of the market. These applications help healthcare providers provide remote monitoring, virtual consultations, and real-time data management. This technology improvement allows patients to receive care from the comfort of their own homes and benefits healthcare providers through streamlined processes and efficient care coordination.
This is a market segment that is seeing increased regulatory compliance, requiring providers to invest in software solutions to ensure compliance with the laws and standards governing healthcare. As the market matures, we expect the integration of AI and ML into home health software to grow, powering more personalized care and predictive analytics capabilities to drive better patient outcomes.
Overview of major home health software companies:
ResMedAgfa HealthcareGE HealthcareSiemens HealthcareVeradigmMcKesson CorporationCerner CorporationEpicNextGen HealthcareClearCare Inc. (WellSky)Kinnser SoftwareNetsmart TechnologiesThornberry LimitedAlora Healthcare SystemsHealthcare Provider SolutionsCareTimeDelta Health TechnologiesCentex AxisCare LCCCarenta
Home Healthcare Software Market Report Scope:
Report Attribute Details Market Size in 2023 USD 12.16 Billion Market Size by 2032 USD 38.92 Billion 13.8% CAG RCAGR 2024-2032 Base Year 2023 Forecast Period 2024-2032 Historical Data From 2020 2022 Key regional scope North America (US, Canada, Mexico), Europe (Eastern) Europe (Poland, Romania, Hungary, Turkey, Rest of Eastern Europe) Western Europe) Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe)), Asia Pacific (China, India, Japan, Korea , Vietnam, Singapore, Australia, and other parts of the Asia-Pacific region), Middle East and Africa (Middle East (UAE, Egypt, Saudi Arabia, Qatar, and other parts of the Middle East)), Africa (Nigeria, South Africa, and other parts of Africa), and Latin America (Brazil, Argentina, Colombia and other Latin American countries)
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Segmentation insights
By software
In 2023, agency management software emerged as the leading segment of the home healthcare software products and services market, accounting for 35.0% of the total market share. This advantage is due to the critical role agency management software plays in streamlining home health agency operations. These solutions help you manage various aspects of patient care, from scheduling and billing to workforce coordination and regulatory compliance. These platforms not only enhance patient care but also reduce operating costs for agencies by automating administrative tasks and improving communication.
The fastest growing segment of the software category is hospice software solutions, which are expected to grow at a rate of 15% annually. The demand for palliative and end-of-life care is increasing, especially with the increasing elderly population and the prevalence of chronic diseases, driving rapid growth in this field. Hospice software helps healthcare providers manage sensitive end-of-life care, providing tools for treatment planning, patient records, and care coordination. With the increasing preference for home-based hospice care, this sector is expected to continue its upward trajectory in the coming years.
By service
In 2023, skilled nursing services became the dominant service category, capturing 40.0% of the total market share. The department includes a wide range of essential medical services, including post-operative care, wound care and pain management, delivered by trained nurses in the comfort of patients' homes. Part of this demographic's dominance is due to the growing number of people with chronic conditions, especially older adults, who prefer to receive care at home rather than in the hospital.
Meanwhile, infusion therapy is expected to be the fastest growing service area, with an annual growth rate of 20%. Infusion therapy, which involves administering drugs through injections or intravenous drips, is becoming increasingly important for patients with chronic diseases such as cancer, diabetes, and autoimmune diseases. The shift to home care and advances in portable infusion technology have made home infusion therapy more accessible and attractive, driving rapid growth.
Key segments of the Home Healthcare Software Market:
By software
Agency Management Clinical Management Hospice Software Solutions Other Software
By service
Rehabilitation Intravenous therapy Respiratory therapy Fertility care Skilled nursing Others
By delivery method
Cloud-based software On-premise software Other
Recent Trends in Home Healthcare Software – Products and Services Market
In November 2024, Heim Health secured £2.2 million (US$2.7 million) in funding to revolutionize home healthcare delivery. The company plans to reimagine community-based healthcare through a scalable, technology-driven model aimed at reducing the burden on hospitals. This innovative solution helps improve the accessibility and efficiency of home health services. In April 2024, the FDA introduced an innovative initiative called “Home as a Health Care Hub” aimed at transforming the home environment into a comprehensive health care system. This initiative leverages augmented reality and virtual reality technologies to enhance health care delivery with a focus on improving health equity. FDA's vision is to transform the home into a medical hub, providing solutions that address a variety of health needs and disparities.
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