Global Long-term Care Software Market Size, Share & Trends Analysis Report By Mode of Delivery (Cloud Based, On Premise, and Web Based), By Application, By End Use, By Regional Outlook and Forecast, 2024 - 2031

Global Long-term Care Software Market Size, Share & Trends Analysis Report By Mode of Delivery (Cloud Based, On Premise, and Web Based), By Application, By End Use, By Regional Outlook and Forecast, 2024 - 2031

The Global Long-term Care Software Market size is expected to reach $8.3 billion by 2031, rising at a market growth of 7.8% CAGR during the forecast period.

The North America region witnessed 48% revenue share in this market in 2023. The high adoption rate of advanced healthcare technologies and the growing demand for efficient healthcare management systems in nursing homes, assisted living facilities, and home healthcare agencies have driven the market’s growth in this region. The region’s well-established healthcare infrastructure, regulatory support, and increasing emphasis on improving patient care and operational efficiency have also contributed to North America’s significant market share.

The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In October, 2024, PointClickCare and Apploi unveiled an end-to-end hiring, onboarding, and scheduling solution to address staffing challenges in senior care. The products include applicant tracking and staff scheduling tools, aiming to ease workforce shortages that strain care quality and contribute to staff burnout. Moreover, In July, 2024, Oracle Corporation unveiled Clinical Digital Assistant, now available for U.S. ambulatory clinics. This innovation integrates AI with Oracle Health EHR to streamline clinical documentation via voice commands. It saves physicians up to 40% of daily documentation time, enhances workflow and patient interactions, reduces burnout, and improves provider satisfaction and patient outcomes.

KBV Cardinal Matrix - Long-term Care Software Market Competition Analysis

Based on the Analysis presented in the KBV Cardinal matrix; Oracle Corporation is the forerunner in the Long-term Care Software Market. In October, 2024, Oracle Corporation unveiled a new electronic health record (EHR), its biggest healthcare update. This is enhanced by the cloud and AI; the EHR simplifies navigation without menus, allowing doctors to retrieve information by voice, reducing time spent on records, and increasing patient care. Companies such as MatrixCare, PointClickCare, and Veradigm LLC are some of the key innovators in Long-term Care Software Market.

Market Growth Factors

The aging population results from increased life expectancy and declining birth rates, particularly in developed countries. According to the United Nations, the number of people aged 60 or older is expected to double by 2050. In many countries, including the U.S., Europe, and Japan, elderly people now represent a larger portion of the population than ever before. As a result, healthcare systems are facing a surge in demand for long-term care services, including nursing homes, assisted living facilities, in-home care, and other elderly care models. Therefore, rising demand for efficient elderly care management due to aging populations drives the market's growth.

Additionally, In value-based care models, healthcare providers are incentivized to deliver higher-quality care at lower costs. This focus on improving patient outcomes, rather than the number of services provided, requires more efficient care management, data tracking, and provider collaboration. This software helps healthcare organizations meet these objectives by offering real-time patient monitoring, care coordination tools, and comprehensive reporting capabilities. In conclusion, rising emphasis on value-based care and patient-centered approaches propel the market's growth.

Market Restraining Factors

However, The initial implementation of this software often involves significant upfront costs. These expenses include purchasing the software, hardware upgrades, staff training, and integrating the system with existing infrastructure. Many long-term care facilities, especially smaller organizations or those operating on tight budgets, may struggle to allocate the necessary funds for these investments. Hence, high initial implementation and maintenance costs hamper the market's growth.

Mode of Delivery Outlook

Based on mode of delivery, the long-term care software market is divided into cloud based, on premise, and web based. The on premise segment held 36% revenue share in this market in 2023. Some long-term care facilities prefer on-premises solutions for greater data security and privacy control. These systems require on-site infrastructure and IT resources but offer more customization options and direct control over the software.

Application Outlook

On the basis of application, the long-term care software market is segmented into electronic health records (EHR), staff management, revenue cycle management (RCM), resident care, electronic medication administration records (eMAR), and others. In 2023, the staff management segment attained 20% revenue share in this market. Staff management software is essential in long-term care facilities to efficiently schedule, track, and manage staff, ensure adequate staffing levels, and enhance workforce productivity.

End Use Outlook

By end use, the long-term care software market is divided into nursing homes, home healthcare agencies, assisted living facilities, hospice & palliative care, and others. The home healthcare agencies segment procured 27% revenue share in this market in 2023. As the demand for home healthcare services increases, agencies increasingly turn to this software to manage patient care, streamline operations, and ensure timely and accurate documentation. The need for remote monitoring, care coordination, and electronic health record management has contributed to the growth of this segment.

Regional Outlook

Region-wise, the long-term care software market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Europe region generated 26% revenue share in this market. Europe’s long-term care sector has adopted digital solutions to manage the rising demand for elderly care and address staffing challenges. The adoption of this software is growing steadily in countries with aging populations, as it helps improve care delivery, optimize resources, and ensure compliance with healthcare regulations.

Market Competition and Attributes

In the Long-term Care Software Market, competition is driven by niche providers focusing on specialized solutions, like patient management, compliance tracking, and customized reporting. Smaller firms compete by prioritizing innovative features, user-friendly interfaces, and affordability to attract mid-sized healthcare facilities. Additionally, collaboration with local healthcare organizations and tailored services provide these companies a competitive edge in a highly segmented market.

Recent Strategies Deployed in the Market

• Jan-2024: Veradigm LLC announced the acquisition of Koha Health, a revenue cycle management firm. This acquisition aims to enhance its ambulatory services and musculoskeletal care capabilities.
• Jan-2024: PointClickCare announced the acquisition of American HealthTech. AHT provides EHR, financial, and clinical solutions for nursing organizations and senior living facilities, enhancing PointClickCare’s support and innovation for the post-acute care market.
• Nov-2023: Netsmart Technologies, Inc. teamed up with RethinkFirst to integrate Rethink Behavioral Health software into Netsmart CareRecords, enhancing autism care for individuals with autism and IDD. This collaboration streamlines ABA therapy workflows, improving data collection, real-time decision-making, and communication among clinical staff, ultimately optimizing care quality and job satisfaction.
• Sep-2023: Oracle Corporation unveiled a next-gen EHR platform that enhances patient and provider experiences with consumer-grade, intuitive applications. Through a secure portal, patients can easily upload documents, schedule appointments, and check results with voice commands. Built on OCI, the platform improves efficiency, reduces redundancy, and provides seamless, modular adoption within 12 months.
• Mar-2023: PointClickCare announced the acquisition of Patient Pattern, a New York-based care management platform for Medicare Advantage, PACE, and ACO REACH programs. The acquisition integrates Patient Pattern’s tools for managing value-based and fee-for-service patients, helping providers transition to risk-bearing models without needing multiple platforms and enhancing PointClickCare’s senior care offerings.

List of Key Companies Profiled

• Veradigm LLC
• Oracle Corporation
• MatrixCare (ResMed Inc.)
• Yardi Systems, Inc.
• PointClickCare
• Medtelligent, Inc.
• ALAdvantage, LLC
• Netsmart Technologies, Inc.
• Kareo, Inc.
• Caresmartz, Inc.

Global Long-term Care Software Market Report Segmentation

By Mode of Delivery

• Cloud Based
• On Premise
• Web Based

By Application

• Electronic Health Records (EHR)
• Staff Management
• Revenue Cycle Management (RCM)
• Resident Care
• Electronic Medication Administration Record (eMAR)
• Other Application

By End Use

• Nursing Homes
• Home Healthcare Agencies
• Assisted living facilities
• Hospice & Palliative care
• Other End Use

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA