Population Aged Above 65 Years Forms The Bulk Of Home Healthcare Software Market

Home healthcare services market is expected to grow at a robust rate between 2016 and 2024, with emergence of new entrants in market and improving macroeconomic conditions worldwide.

Until recently, medical documentation involved cumbersome paper work. Technological advancements and introduction of advanced software has eased the way industry use to operate, making work process easier and more efficient. Healthcare industry has greatly benefitted from integration of IT systems. With technological advancements, home healthcare software such as telehealth solutions and clinical management systems are available in the market.

Home healthcare enables healthcare services to be delivered at patient’s home – thereby alleviating healthcare costs.

Population aged above 65 years forms the bulk of home healthcare software market

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Asia-Pacific is a lucrative market for home healthcare software due to the easy availability of skilled manpower, cheap labor and highly developed information technology sectors in the countries particularly China and India. Moreover, India is one of the leading markets for IT software. Relaxation in FDI cap is expected to boost overall presence of MNCs in the region. Though the Asia Pacific market is vibrant, there are a lot more challenges present in the market that inhibit proper capitalization of the market opportunities. The market is highly volatile with wide variations in demographics and economic conditions. The market in China, once the power engine of Asia Pacific, is witnessing low growth, due to noticeable decline in healthcare expenditure in the region. On a positive note, India is witnessing rapid transformation across various healthcare verticals. Companies need to fully understand the demographic and macroeconomic situation to generate high ROI from the region. Markets in Latin America and MEA are expected to witness sluggish growth over the forecast period.

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