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Assisted Living Software Market Worth USD 234.47 Billion By 2028 Registering A CAGR Of 8.90 %

Assisted Living Software Market

Assisted Living Software Market

Market Overview:

The Assisted Living Software market was valued at USD 129.09 million in 2021 and is predicted to increase at a CAGR of 8.90% to USD 234.47 million by 2028.

The assisted living software manages the security, well-being, and satisfaction of their natives. It is used for enhancing communication among the natives and their families. This software assisted in personnel scheduling, and resource allocation optimization. This also assures compliance with healthcare safety regulations. Some solutions designed for assisted living facilities offer electronic health and medical record systems. It is a real-time solution for managing the condition of patients and providing healthcare services in healthcare centers and at home. This software reduces human involvement and offers all services automatically. The growing number of elderly people in the world are not taken enough care of, and for those who have debilitating conditions organizations offer them assisted living services. These factors support the growth of assisted living software over the forecast year.

Major Key Players for Assisted Living Software Market:

  • American Healthtech
  • Yardi Systems
  • RealPage
  • PointClickCare
  • MatrixCare
  • AL Advantage
  • Assisted Living Soft
  • Caremerge
  • Carevium

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Market Dynamics and Factors:

Assisted living software increasing the demand for real-time services in the healthcare industry to provide patient care is a key factor driving the assisted living software market. Rising the adoption of advanced technology by healthcare sectors to improve the quality of services to patients. For instance, eMAR (electronic medical administration records) helps patients by scheduling and tracking medication, recording the blood glucose readings, and coordinating with various treatments. This software is used in long-term healthcare centers as well as at home for patient management. The assisted living software has a low cost and rapid accessibility in many hospitals, and clinics. These factors help to increase the growth of the market in the projected timeframe. Moreover, rising the adoption of open-source assisted living software is responsibly hampering the growth of assisted living software market.

Assisted Living Software Market Report Highlight:

  • By type, the cloud segment is expected to have the maximum market share in assisted living software during the projected period. Rising the adoption of cloud-based technology in the healthcare sector to provide patient care which propels the growth of the market.
  • By application, the assisted living facilities segment is expected to have the maximum market share in assisted living software during the forecast period. The number of solutions designed for the assisted living facility that is used in hospitals as well as at home for patient care supports the growth of the market.
  • By region, North America is expected to dominate the assisted living software market, during the projection period. The rising adoption of advanced technology in the healthcare sector to provide patient care in this region supports the growth of the assisted living software market in North America.

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Key Industry Development:

  • In March 2022, CPSI is a leading provider of electronic health records (EHR) for the post-acute and senior living markets announced that expand its partnership with American HealthTech (AHT)
  • In March 2022, PointClickCare is a leader in cloud‐based healthcare software for the long‐term and post‐acute care (LTPAC) market announced its collaboration with Microsoft to expand its digital footprint in the industry. PointClickCare is involve in-built cutting-edge technology solutions for healthcare providers to better connect clinicians and their care teams

Assisted Living Software Market Segmentation:

By Type

  • On-premise
  • Cloud

By Application

  • Assisted Living Facilities (ALFs)
  • Residential Care Homes (RCFEs)
  • CBRFs
  • Adolescent Friendly Health Services (AFHs)
  • Memory Care Communities
  • Continuing Care Retirement Communities (CCRCs)

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For this report, Introspective Market Research has segmented the Assisted Living Software Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Turkey
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Vietnam
    • Thailand
    • Rest of Asia-Pacific
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Iran
    • Rest of MEA
  • Latin America
    • Brazil
    • Argentina
    • Rest of LATAM

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Scope of the Report:

The objective of the research is to provide the market knowledge and strategic insights to assist decision-makers in making informed investment decisions and identifying potential gaps and growth opportunities. Historical revenue and sales volume are reported, and additional data is triangulated using top-down and bottom-up methodologies to predict forecast numbers for important regions covered in the research, as well as classified and well-known Types and end-use industries. Assisted Living Software Market study explores the competitive landscape of the global market. In addition to rival market share research, in-depth profiling, product/service, and business overviews, the study focuses on BCG matrix, heat map analysis, and SWOT analysis to better correlate market competitiveness. Five forces analysis, Ansoff matrix, PESTEL analysis, and value chain analysis are used to better understand market conditions.

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