Home Healthcare Software Market - Forecast(2021 - 2026)

Report Code: ITR 0301 Report Format: PDF + Excel (Delivery in 48 Hrs)

Home Healthcare Software Market Overview

Home Healthcare Software market size is estimated to reach $7.92 billion by 2026 at a CAGR of 14.6% during the forecast period 2021-2026 owing to the increasing health awareness coupled with the development of digital health sector across the world and the increasing aging population. In addition, Governments of various economies are estimated to expand incentives along with heavy investment in healthcare which has significantly triggered the growth of digital health, resulting in an expansion of the home healthcare software industry. In August 2020, the Ministry of Health and Family Welfare, Government of India launched a new health project, National Digital Health Mission (NDHM), in order to promote the integration of digital health infrastructure by providing necessary support in India. Thus, these kinds of investments will drive the demand for clinical management system, health agency management system, patient care management system and others; which in turn drives the growth of home healthcare software market. Furthermore, this technology also helps in keeping electronic health record, which fuels the growth of this market. The increasing usage rate of electronic visit verification (EVV) and revenue cycle management technology also creates the demand for home healthcare software market. Hence, the above-mentioned factors will drive the growth of this market in the forecast period 2021-2026.

Report Coverage

The report: “Home Healthcare Software Market– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Home Healthcare software market.

By offering type: solutions and services.
By Solutions: health agency management, clinical management, patient care management, tele-health, Hospice Software, back-office management and others.
By service: Rehabilitation, Therapy, Nursing and others.
By Deployment: On-premise and cloud-based.
By Devices: laptops and desktops, smartphones, tablets and others.
By Applications: clinical (monitoring, doctor care, nursing care and others) and non-clinical (billing, scheduling, point-of-care information, document management, client management and others).
By end-user: providers (Homecare Agencies, Hospice Care agencies, Private Duty Agencies, Rehabilitation Centers, Therapy Centers and others) and payers.
By Geography: North America (U.S, Canada, Mexico), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC (Japan, China, India, South Korea, Australia and Others), South America(Brazil, Argentina and others) and RoW (Middle east and Africa).

Key Takeaways

  • North America dominated the market with 30% of Home Healthcare Software market share in 2020, early adoption for new technologies and rising health awareness among the public, are the key factors contributing towards the market growth.
  • The demand for home healthcare software is estimated to witness significant upsurge during the forecast period, owing to the growing investment for digital health sector across the globe.
  • Home Healthcare Software industry outlook is consolidated with top market players including Cerner Corporation, Carestream Health, Inc., GE Healthcare Systems, Agfa Healthcare Corporation, Mckesson Corporation and others.


Home Healthcare Software Market, by Geography, 2020

Home Healthcare Software Market

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Home Healthcare Software Market Segment Analysis - By Deployment

By Deployment, this market is segmented into On-premise and cloud-based deployment. Cloud-based deployment of Home Healthcare Software is estimated to witness the fastest growth with a CAGR of 16.32% in the forecast period 2021-2026, owing to the digital transformation of health sector and technological development across the world. In May 2020, Microsoft announced their $1 billion investment plan to drive the digital transformation in Poland and signed an agreement to support Poland in various sector including government, health, education, retail and others. Apart from that, companies investing, collaborating and launching cloud-based software is fuelling the demand for it. In December 2019, NextGen acquired OTTO health to enhance its tele-medicine capabilities and to integrate OTTO’s tele-health platform into the Medfusion patient experience platform. Increased investments along with such strategic business development will provide significant opportunities for cloud-based deployment of home healthcare software in the forecast period 2021-2026.

Home Healthcare Software Market Segment Analysis - By End-User

Based on the end-user, home healthcare software market is segmented into providers and payers and the providers segment is sub-segmented into homecare agencies, hospice care agencies, private duty agencies, rehabilitation centers, therapy centers and others. According to the Home Healthcare Software market report of IndustryARC, the hospice care agencies is the fastest growing segment of home healthcare software market, growing at CAGR of 1.78% in the forecast period, owing to increasing incidence of fatal diseases such as cancer, tuberculosis and others, along with the continuous requirement for medical support for the terminally ill patients. A cancer research institute presented a report which states that, the number of new cancer cases was estimated to be 1.8 million and the number of deaths due to this disease was projected to be 606,520 in United States. Hence, home healthcare software is being seen as the opportunity for the payers and for the professionals to keep a continuous eye on the patients, thus set to witness a prominent upsurge of demand for this technology with the rise in such diseases in the forecast period 2021-2026.

Home Healthcare Software Market Segment Analysis - By Geography

North America dominated the market by a market share of more than 30% in 2020, early adoption for new technologies and rising awareness about health issues along are the key factors behind the growth. In addition, Government initiatives in the form of investments, for the development of health sector for the aging generation are accelerating the growth of this market in this region. In January 2019, AGE-WELL national innovation hub: Digital Health Circle, received $3.5 Million investment from the government of Canada, to improve the quality of life through innovation for the generation of seniors and to support digital healthcare solutions designed for the current and upcoming aging populations. Furthermore, APAC is anticipated to witness the fastest growth during the forecast period 2021-2026 owing to the rising investment for digital healthcare along with technological development. In April 2019, India-based start-up company, MFine acquired $17.2 m fund to enhance the access to doctors and healthcare though digital platform by using internet. Hence these factors are analysed to boost the market growth in the forecast period 2021-2026.

Home Healthcare Software Market Drivers

Digital Healthcare Investments is Driving the Growth of this Market for a long term period

Growing digitalization coupled with increasing investment for modernization is affecting every sector including healthcare. Increasing investment for digital healthcare is one of the major drivers for the Home Healthcare Software market, set to boost the growth during the forecast period 2021-2026. According to Rock Health’s latest digital health funding report published on October 2020, funding on healthcare sector was supposed to hit $12 Billion by the end of 2020. Apart from this, Government is also taking initiatives to promote digital healthcare which is fuelling the market growth. In May 2020, Invest India published a report on digital healthcare investment and according to that report, the digital health market will reach $504.4 Billion by 2025. Hence these types of investments are analyzed to drive the market in the forecast period 2021-2026.

Rising Aging Population and Inclination towards Health-Consciousness Creating Huge Impact on this Market:

With the rise in senior population along with busy life schedule, the demand for constant healthcare support is rising rapidly. Due to better health services and growing health awareness the mortality rate went down over the years, increasing the population of old generation. International federation of ageing reported that, the life expectancy had increased from 46 years to 73 years between 1950 and 2020 and is anticipated to rise four more years by 2050. According to a report of population division of the United Nations Department of Economic and Social Affair, in 2020, the number of people above the age of 65, was anticipated to reach 727 million across the world. In current time period, due to various reasons people are more inclined towards living independently including senior citizens, making them responsible for their own health issues and to face any medical emergency situation, the adoption of various health solution including home healthcare software is growing. Apart from that, many young people, staying away from their family, also opt for this service to look after their old family members which is fuelling the market growth.

Home Healthcare Software Market Challenges

Increasing Security Threats is Harming the Growth of home healthcare software Market:

Although home healthcare software market is growing at a rapid phase, the increasing number of security threats is anticipated to hinder the market growth. On January 2021, a report was published by Check Point and Fortified health security, according to which the rates of cyber-attacks against healthcare sectors had increased over 45% since November 2020. According to a report of HIPPA on healthcare data breaches, published in December 2019, 41.2 million healthcare records were stolen, exposed or illegally disclosed in 505 healthcare data beaches. This type of data breaches exposes the personal and confidential information which is harming the market growth during 2021-2026.

Home Healthcare Software Market Landscape

Technology launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Home Healthcare software market. In 2020, the market of Home Healthcare software industry outlook has been fragmented by several companies. Home Healthcare software top 10 companies include

  • Cerner Corporation
  • Carestream Health, Inc.
  • GE Healthcare Systems
  • Agfa Healthcare Corporation
  • Mckesson Corporation
  • Alora Healthcare Systems LLC
  • NextGen Healthcare Information System LLC
  • WellSky Corporation
  • Axxess Technology Solutions
  • Delta Health Technologies

Acquisitions/Technology Launches

  • In February 2019, Wellsky acquired Health Care Software, to deliver enhanced post-acute care solutions including home health, hospice, rehab, home infusion, home medical equipment, LTACH, psychiatric care and others.
  • In June 2019, Axxess launched a new software solution Axxess Hospice, in order to meet the unique requirements of the hospice provides.

Relevant Report Titles:

Report Code: HCR 0392

Report Code: HCR 0004

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1. Home healthcare software Market Overview
    1.1 Definitions and Scope
2. Home healthcare software Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends By Product Type
    2.3 Key trends segmented by Geography
3. Home healthcare software Market – Market Landscape
    3.1 Comparative Analysis
        3.1.1 Product/Company Benchmarking-Top 5 Companies
        3.1.2 Top 5 Financial Analysis
        3.1.3 Market Value Split by Top 5 Companies
        3.1.4 Patent Analysis
        3.1.5 Pricing Analysis (Comparison of General Price Offerings in the Market)
4. Home healthcare software Market – Industry Market Entry Scenario Premium (Premium)
    4.1 Regulatory Scenario
5. Home healthcare software Market – Startup Company Scenario (Premium)
    5.1 Venture Capital and Funding Scenario
    5.2 Startup Company Analysis
6. Home healthcare software Market Analysis (Enterprise License)
    6.1 Ease of Doing Business Index
    6.2 Case Studies
    6.3 Customer Analysis
    6.4 Market Share by Offering Type
    6.5 Market Share by Solutions
    6.6 Market Share by Service
    6.7 Market Share by Deployment
    6.8 Market Share by Devices
    6.9 Market Share by Applications
    6.10 Market Share by End User
    6.11 Market Share by Country
    6.12 Competition Matrix
7. Home healthcare software Market - Market Forces
    7.1 Market Drivers
    7.2 Market Constraints
    7.3 Porters five force model
        7.3.1 Bargaining power of suppliers
        7.3.2 Bargaining powers of customers
        7.3.3 Threat of new entrants
        7.3.4 Rivalry among existing players
        7.3.5 Threat of substitutes
8. Home healthcare software Market – By Strategic Analysis (Market Size -$Million/Billion)
    8.1 Value Chain Analysis
    8.2 Opportunities Analysis
    8.3 Product Life Cycle/Market Life Cycle Analysis
    8.4 Suppliers and Distributors
9. Home Healthcare Software Market – By Offering Type
    9.1 Solutions
    9.2 Services
10. Home Healthcare Software Market – By Solutions
    10.1 Health Agency Management
    10.2 Clinical Management
    10.3 Patient Care Management
    10.4 Tele-Health
    10.5 Hospice Software
    10.6 Back-Office Management
    10.7 Others
11. Home Healthcare Software Market – By Services
    11.1 Rehabilitation
    11.2 Therapy
    11.3 Nursing
    11.4 Others
12. Home Healthcare Software Market – By Deployment
    12.1 On-Premise
    12.2 Cloud-Based
13. Home Healthcare Software Market – By Devices
    13.1 Laptops and Desktops
    13.2 Smart-Phones
    13.3 Tablets
    13.4 Others
14. Home Healthcare Software Market – By Applications
    14.1 Clinical
        14.1.1 Monitoring
        14.1.2 Doctor Care
        14.1.3 Nursing Care
        14.1.4 Others
    14.2 Non-Clinical
        14.2.1 Billing
        14.2.2 Scheduling
        14.2.3 Point-of-Care Information
        14.2.4 Document Management
        14.2.5 Client Management
        14.2.6 Others
15. Home Healthcare Software Market– By End User
    15.1 Providers
        15.1.1 Homecare Agencies
        15.1.2 Hospice Care agencies
        15.1.3 Private Duty Agencies
        15.1.4 Rehabilitation Centers
        15.1.5 Therapy Centers
        15.1.6 Others
    15.2 Payers
16. Home Healthcare Software Market – By Geography
    16.1 North America
        16.1.1 U.S
        16.1.2 Canada
        16.1.3 Mexico
    16.2 Europe
        16.2.1 Germany
        16.2.2 France
        16.2.3 UK
        16.2.4 Italy
        16.2.5 Spain
        16.2.6 Rest of Europe
    16.3 APAC
        16.3.1 Japan
        16.3.2 China
        16.3.3 India
        16.3.4 Australia
        16.3.5 South Korea
        16.3.6 Rest of Asia-Pacific
    16.4 South America
        16.4.1 Brazil
        16.4.2 Argentina
        16.4.3 Rest of South America
    16.5 RoW
        16.5.1 Africa
        16.5.2 Middle East
17. Home healthcare software Market - Market Entropy
    17.1 New product launches
    17.2 M&A's, collaborations, JVs and partnerships
18. Home healthcare software Market – Industry Competition Landscape (Premium)
    18.1 Market Share Global
    18.2 Market Share – Top Regions
19. Home healthcare software Market – Key Company List by Country Premium (Premium)
20. Home healthcare software Market - Company Analysis
    20.1 Cerner Corporation
    20.2 Carestream Health, Inc.
    20.3 GE Healthcare Systems
    20.4 Agfa Healthcare Corporation
    20.5 Mckesson Corporation
    20.6 Company 6
    20.7 Company 7
    20.8 Company 8
    20.9 Company 9
    20.10 Company 10
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