Home healthcare software, sometimes called inpatient care software or domiciliary care software, falls into the wide category of healthcare information management. It is essentially an application that aids inpatient management and tracking such things as appointments, medications, doctor's notes, hospitalizations, and so forth. The program is designed for the individual or family caregiver to access the medical records of their patient and for the caregiver to upload these records into the system via a PDA, laptop computer, or other digital devices. As compared to hospital settings, home healthcare settings are far more inexpensive. It typically does not include the cost of nursing and other medical equipment. As a result of this, the adoption of home healthcare settings is witnessing higher demand in both developed and emerging economies. Hence, these factors can accelerate the growth of the home healthcare software market shortly.
Home healthcare setting is primarily intended for elderly people that cannot be admitted to the hospital. With rising occurrences of chronic diseases, the demand for home healthcare software is likely to grow. As per the World Health Organization (WHO), in 2018, around 9.6 million died due to cancer with over 300,000 new cases of cancer being diagnosed each year among children aged 0-19 years across the globe. Thus, such factors can bolster the growth of the home healthcare software market shortly.
Home healthcare software has also contributed to the rise in adoption rates for this growing population. Many people are reluctant to admit that they are relying on the services of a home healthcare provider to assist them in their elder years, although the numbers speak for themselves. An aging population makes this transition especially difficult. Home healthcare providers have helped to ease the transition by developing specialized programs that are specifically designed for this changing environment. Regardless of these advantages, the high maintenance and service expenses of this software could pose a major challenge in the adoption of home healthcare software systems. Besides, concerns regarding security and the growing incidence of potential data breaches could impede the growth of the home healthcare software market shortly.
Another trend in the home healthcare software market that has been driven by technology is the rise of web-based software solutions. Web-based applications have been specifically designed to meet the needs of those who are either disabled or elderly and require assistance with daily living activities. When it comes to regional impact, North America is rapidly gaining significant traction in the home healthcare software market due to technological advancements and higher expenditure on healthcare in the region. On the contrary, Asia Pacific seems to be exhibiting a positive outlook with easy availability of skilled personnel, cheap labor, and the presence of a highly developed IT sector.