Long Term Care Software Global Market Report 2024

The long term care software market size has grown rapidly in recent years. It will grow from $4.32 billion in 2023 to $4.84 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth observed in the historical period can be attributed to factors such as aging population dynamics, regulatory compliance requirements, the increase in healthcare costs, the integration of electronic health records (EHR), and a heightened focus on patient-centric care.

The long term care software market size is expected to see rapid growth in the next few years. It will grow to $7.89 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. The anticipated growth in the forecast period can be attributed to factors such as rising consumer expectations, the integration of telehealth services, interoperability requirements, the increased prevalence of home-based care, and growing concerns about data security and privacy. Major trends expected in the forecast period include the adoption of person-centered care approaches, compliance with regulatory standards, the implementation of enhanced data security measures, the seamless integration of telehealth services, and the development of tools to promote patient and family engagement.

The growth of the long-term care software market is expected to be propelled by the increasing number of healthcare organizations. Healthcare organizations (HCOs), which are legal entities influencing the prescription, order, supply, utilization, and sale of medical technologies or related services, are utilizing long-term care software services for secure patient data exchange, improved patient outcomes, faster treatment, multidevice synchronization, and more. The long-term care software market is witnessing growth due to the rising number of healthcare organizations. For example, as of November 2022, there were 848 active chronic dialysis centers registered in 2021 at the Brazilian Society of Nephrology, reflecting a 1.8% increase compared to 2020. This emphasizes the driving force of the growing number of healthcare organizations in the long-term care software market.

The long-term care software market is the increasing prevalence of chronic diseases. Chronic diseases, lasting a year or more and requiring ongoing medical attention, are on the rise globally. Long-term care software proves valuable in managing chronic diseases by monitoring symptoms, tracking progress, and ensuring medication adherence, facilitating early intervention. According to the World Health Organization, chronic disease prevalence is expected to increase by 57% from 2020, with these diseases accounting for 71% of global fatalities. The escalating prevalence of chronic diseases is anticipated to fuel the growth of the long-term care software market.

Technological advancements represent a prominent trend in the long-term care software market, with major companies adopting new technologies to maintain their market positions. An illustrative example is Creative Solutions in Healthcare, a US-based healthcare company, which introduced Connected Care Center in February 2022. This user-friendly platform serves as a resident health information hub, providing up-to-date health data to residents, authorized families, and friends.

Innovative solutions, such as cloud-based pharmacy management systems (PMS), are being developed by leading companies in the long-term care software market to gain a competitive edge. A cloud-based PMS allows remote management of pharmacy operations through a web browser or mobile app. In September 2022, RedSail Technologies LLC, a US-based provider of pharmacy solutions, launched Axys for long-term care pharmacies. This system can track resident medications, generate medication administration records (MARs), integrate with electronic health records (EHRs), and enhance patient safety by reducing medication errors.

In June 2022, Oracle's acquisition of Cerner Corporation for $28.3 billion reflects a strategic move to combine Cerner's clinical capabilities with Oracle's enterprise platform, analytics, and automation expertise. Cerner Corporation is known for providing long-term care and skilled nursing management EHR software. This acquisition aims to drive advancements in health and wellness through a synergized approach.

Major companies operating in the long term care software market report are McKesson Corporation, Optimus EMR Inc., PointClickCare Corp., Matrixcare Inc., Allscripts Healthcare Solutions Inc., Kronos Incorporated, AOD SoftwareLLC, Netsmart Technologies Inc., Yardi Systems Inc., Eldermark LLC, ADL Data Systems Inc., HealthMEDX LLC, Intellitec Solutions, BlueStrata EHR Software Inc., Wellsky Corporation, LinTech Global LLC, Epic Systems Corporation, Medtelligent Inc., Omnicell Inc., SigmaCare by MatrixCare a ResMed Company, Computer Programs and Systems Inc., Sanvis Health LLC, CareVoyant Inc., Caremerge Inc., CareSoft Inc., CareTracker Inc., Health Care Software Inc., LifeLoop LLC, OnShift Inc., RealPage Inc., Senior Insight Inc., Senior Living Technologies LLC, Seniorsoft Development Co.Ltd., SimpleLTC, SmartLinx Solutions LLC, SoftWriters Inc., Storii Limited, Team TSI Corporation Inc., Vitals Software Inc.

North America was the largest region in the long term care software market in 2023. The regions covered in the long term care software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the long term care software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary products of long-term care software consist of clinical software and non-clinical solutions. Clinical software encompasses services such as electronic health records, e-prescribing, clinical decision support systems, and other related functionalities. These software solutions are deployed through various methods, including web-based, on-premises, and cloud-based approaches. They find application in diverse care settings such as home healthcare agencies, hospice care facilities, nursing homes, and assisted living facilities.

The long term care software market research report is one of a series of new reports that provides long term care software market statistics, including long term care software industry global market size, regional shares, competitors with long term care software market share, detailed long term care software market segments, market trends, and opportunities, and any further data you may need to thrive in the long term care software industry. This long term care software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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