Assisted Living Software Market Estimated to Experience a Hike in Growth by 2027
Increasing demand for real-time services in healthcare sector needs innovative solution to improve patient care services. The Assisted Living Software works as real-time solution to manage Patient condition and healthcare services across long-term healthcare centers and at home. This software automates the all the healthcare services which needs less human intervention which is one of the important feature of this software.
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The emergence of analytical tool created new opportunity for Assisted Living Software vendors to offer an enhanced solution with the integration of advanced analytics features. These analytical tools, in assisted living software, offers structured and meaningful insights such as insurance data, prescription transaction data, Patient details, prescription processing etc. at one platform. Assisted living software, with the help of analytic tools, can also be used to refill inventories for a specific period.
Due to the low cost associated with assisted living software and its quick accessibility many hospitals and clinics are subscribing to this solution.
Assisted Living Software Market: Drivers and Challenges
The increased demand for an enhanced quality of care is expected to drive the growth of assisted living software. This application was introduced with an intention of providing enhanced services, solutions and offerings to residents of assisted living. The integration of assisted living software with eMAR (electronic medical administration records) is expected to be the key driver for the global assisted living software market as it enhances the overall offerings of the software. For instance, eMAR enables the software scheduling and tracking medications, the capturing of blood glucose readings, easy usage of charting screens, coordination with various treatments and financial analytics for medical administration. Furthermore, implementation of workflow automation in the software acts as a driving factor for assisted living software.
The primary factor hampering the growth of Assisted Living Software is data breaches associated with it as the software is available over cloud and on-premise both. Additionally, introduction and increasing adoption of open source assisted living software also restraints the overall growth of global assisted living software market.
Assisted Living Software Market: Segmentation
Global Assisted Living Software Market can be segmented on the basis of Deployment Type
Segmentation for Assisted Living Software Market by Deployment Type:
On the basis of Deployment Type, Assisted Living Software Market can be segmented as:
On Cloud segment is expected to hold the majority of share under this segment, because of its low cost and easy accessibility when compared with on-premise.
Assisted Living Software Market: Key Players
Some of the key players of Assisted Living Software market are AMERICAN HEALTHTECH, Eldermark, Yardi Systems, Inc., AL Advantage LLC, VITALS SOFTWARE, MatrixCare, Medtelligent, Inc., ECP, RealPage, Inc. and iCareManager.
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Assisted Living Software Market: Regional Overview
By geography, Assisted Living Software market can be segmented across North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and Middle East & Africa. Among various regions, North America is expected to dominate the global Assisted Living Software Market during the forecast period, owing to the increasing demand for enhanced services and high quality care, by the elderly population. North America is, furthermore, expected to hold its position in the forecast years. APEJ is expected to witness a significant growth in the forecast years because of the high presence of elderly population in the region.
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