Asia Pacific Long-term Care Software Market Size & Outlook
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Asia Pacific long-term care software market highlights
- The Asia Pacific long-term care software market generated a revenue of USD 835.4 million in 2023.
- The market is expected to grow at a CAGR of 10.7% from 2024 to 2030.
- In terms of segment, electronic health records (ehr) was the largest revenue generating application in 2023.
- Electronic Health Records (EHR) is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 835.4 million |
| Market revenue in 2030 | USD 1,696.7 million |
| Growth rate | 10.7% (CAGR from 2023 to 2030) |
| Largest segment | Electronic health records (ehr) |
| Fastest growing segment | Electronic Health Records (EHR) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Electronic Health Records (EHR), Electronic Medication Administration Record (eMAR), Revenue Cycle Management (RCM), Resident Care, Staff Management |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 17.7% of the global long-term care software market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,696.7 million by 2030.
Electronic health records (ehr) was the largest segment with a revenue share of 30.28% in 2023. Horizon Databook has segmented the Asia Pacific long-term care software market based on electronic health records (ehr), electronic medication administration record (emar), revenue cycle management (rcm), resident care, staff management covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific is the fastest-growing regional market, with a high demand for LTC solutions due to an increase in government spending on healthcare. In addition, the need for LTC software has been growing, as it enables effective management of financial, clinical, and administrative aspects of LTC centers. Various LTC providers in Japan, Malaysia, South Korea, and Australia have adopted these systems for better patient care and satisfaction.
In addition, increase in healthcare expenditure in developing Asian countries & improvement in healthcare infrastructure, owing to growth in the adoption of advanced technology to reduce medical costs & streamline LTC workflow, are the key drivers of demand for LTC solutions in this region.
Furthermore, this region’s market growth can also be attributed to R&D investments in AI to produce technologically advanced LTC solutions. Moreover, developing healthcare infrastructure in Asia Pacific countries, such as Indonesia, China, & India, is expected to propel market growth in the coming years.
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Long-Term Care Software Market Scope
Long-Term Care Software Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Knight Health | View profile | 51-100 | South Perth, Western Australia, Australia, Oceania | https://www.knighthealth.com.au |
| Diversicare Healthcare Services | View profile | 1001-5000 | Brentwood, Tennessee, United States, North America | http://www.advocatinc.com/ |
| Atria Senior Living | View profile | 10001+ | Louisville, Kentucky, United States, North America | http://atriaseniorliving.com |
| LHC Group | View profile | 5001-10000 | Lafayette, Louisiana, United States, North America | http://lhcgroup.com/about-lhc-group |
| Home Instead | View profile | 501-1000 | Omaha, Nebraska, United States, North America | http://www.homeinstead.com |
| Sunrise Senior Living | View profile | 10001+ | Mclean, Virginia, United States, North America | https://www.sunriseseniorliving.com |
| Sonida Senior Living Inc | View profile | 3955 | 14755 Preston Road, Suite 810, Dallas, TX, United States, 75254 | https://www.sonidaseniorliving.com |
| Extendicare Inc | View profile | 22000 | 3000 Steeles Avenue East, Suite 700, Markham, ON, Canada, L3R 4T9 | https://www.extendicare.com |
| Brookdale Senior Living Inc | View profile | 36000 | 111 Westwood Place, Suite 400, Brentwood, TN, United States, 37027 | https://www.brookdale.com |
| Amedisys Inc | View profile | 19000 | 3854 American Way, Suite A, Baton Rouge, LA, United States, 70816 | https://www.amedisys.com |
| Genesis Healthcare Inc Class A | View profile | 44000 | 101 East State Street, Kennett Square, PA, United States, 19348 | http://www.genesishcc.com |
Asia Pacific long-term care software market size, by country, 2018-2030 (US$M)
Asia Pacific Long-Term Care Software Market Outlook Share, 2023 & 2030 (US$M)
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