According to the research report titled ‘Global Home Healthcare Software Market Size study with COVID-19 impact, by Software (Agency Management, Clinical Management, Consulting and Support Services, Hospice Software Solutions, Tele Health Solutions and Other Software ), by Component (Software, Service and Others), by Mode of Delivery (Web based, cloud based and Others), End user (Rehab Centres , Hospice Care, Homecare Institutions and Others) and Regional Forecasts 2020-2027’, global home healthcare software market amassed USD 7.26 billion in 2019 and is projected to reach USD 19.85 billion valuation by the end of the forecast period 2020-2027, registering 13.4% CAGR throughout.
 

Global home healthcare software market growth is largely driven by increasing cases of major health problems among the booming geriatric population and subsequent rise in the need for regular check-up. As per the World Health Organization, it is expected that the number of people aged 65 or older will increase from an estimated 524 million in 2010 to almost 1.6 billion in 2050, indicating a strong demand for home healthcare services in the coming years.
 

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For those unfamiliar, home healthcare software is a user-friendly solution which provides healthcare data with zero error healthcare data, that helps improve doctor's operational productivity. It also helps home care providers and doctors to collaborate efficiently to offer standardized care to patients. Moreover, these solutions provide real-time data to healthcare practitioners to deliver enhanced patient care.
 

With respect to the recent developments, global home healthcare software industry is witnessing an strong growth curve owing to the outbreak of COVID-19 pandemic. Initiatives by individuals and government authorities to minimize widespread of coronavirus has resulted in home isolation and self-quarantine operations. This in turn has drastically increased the demand for home healthcare software where physicians can monitor patient health from hospitals or clinics and suggest effective treatments.
 

Despite the favorable business scenario, rising cases of data breach and security concerns are likely to impede the industry expansion over the study period.
 

Citing the geographical landscape, North America currently holds a significant portion of global home healthcare software market share, mainly driven by growing healthcare expenditure. On the other hand, Asia Pacific industry is slated to grow considerably through 2027, creditable to booming elderly population in the region.

Major players in global home healthcare software market sphere are Thornberry Ltd., Medical Information Technology, Inc., McKesson Corporation, Kinnser Software, Inc., Healthmedx, Inc., Hearst Corporation, Delta Health Technologies, LLC, Continulink Health Technologies, LLC, Cerner Corporation, and Allscripts Healthcare Solutions, Inc.