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Meeting Growing Demands of Managed Care Key to Driving Uptake of Care Management Software - Frost & Sullivan finds that Care Management Software Markets in Europe earned revenues of $257.0 million in 2006 and estimates this to double by 2013
Meeting Growing Demands of Managed Care Key to Driving Uptake of Care Management Software

 

PRZOOM - /newswire/ - London, United Kingdom, 2007/05/08 - Frost & Sullivan finds that Care Management Software Markets in Europe earned revenues of $257.0 million in 2006 and estimates this to double by 2013.

   
 
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Care management software is attracting increasing interest in Europe for its ability to significantly ease operations and reduce the time required for administrative tasks. The market potential for these solutions is immense but acceptance is likely to be gradual and will depend on manufacturers’ ability to communicate their viability to care-providing establishments.

Frost & Sullivan (patientmonitoring.frost.com) finds that Care Management Software Markets in Europe earned revenues of $257.0 million in 2006 and estimates this to double by 2013.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the latest analysis of Strategic Analysis of the Care Management Software Markets in Europe, then send an email to Danielle White, Corporate Communications, at dwhite[.]frost.com with your full name, company name, title, telephone number, fax number and e-mail address. Upon receipt of the above information, an overview will be sent to you by email.

Demand for social care services, both institutional and home, is increasing rapidly across Europe, especially in the central and eastern regions. Government investment in social care provision is at an all-time high, with a particular emphasis on domiciliary or home care. An expanding ageing population is also contributing to greater demand for both National Health Services (NHS) and private care home centres.

“Most significantly, increasingly stringent government regulations that mandate the computerisation of such establishments are likely to have a positive impact on the care management software markets,” says Frost & Sullivan Research Analyst Jessy Varghese. “New regulatory requirements by the European governments call for better documentation of care services provided in institutions and at home, and other administrative data pertaining to care providers.”

This factor will be instrumental in driving strong market growth in the future. Electronic health record (EHR) initiatives throughout Europe are also playing an important part in computerising administration and clinical management of care operations. Healthcare organisations, including care-providing resident and ambulant homes, will benefit from using EHR programmes from IT providers that have both knowledge and experience of existing programmes.

Growth rates in the European care management software markets are expected to steadily increase from 10.5 per cent in 2006 to 11.9 per cent in 2013. Interest in these solutions is on the rise as they continue to experience increasing demand.

The domiciliary care sector held approximately 45.7 per cent of the total market in 2006, and is gaining increased significance due to the very limited number of care homes in Europe compared to the constantly increasing demand for such services from a rising population of dependents.

“The future of care management software market undoubtedly lies in the domiciliary sector,” notes Ms. Varghese. “User-friendly and flexible management software solutions for this sector are in high demand in the western European healthcare industry.”

However, while care management software manufacturers can look forward to plentiful opportunities, they face one of their biggest challenges in aggressively promoting the return on investment (ROI) that these solutions offer as well as their minimal support requirements. Manufacturers that are able to successfully address this challenge are likely to experience increased market share, while providing maximum value to the social care sector.

Low operating margins of care homes is another major challenge facing manufacturers and market penetration in such establishments is likely to be difficult for this reason. Market opportunities are also likely to suffer because of the growing support for informal care in Europe.

“The supply of formal care services is well below demand and as informal care gains greater support, the market finds itself in a very challenging position,” says Ms. Varghese. “In such a situation, reiterating the increased ROI that care management software’s can offer is perhaps one of the best ways to address this challenge and drive continued interest in these solutions.”

Strategic Analysis of the Care Management Software Markets in Europe, part of the Patient Monitoring Subscription, provides an overview of market dynamics and revenues, along with a complete analysis of key market drivers, restraints and trends faced in Germany, France, the United Kingdom, Spain, Italy, Benelux and Scandinavia. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies and the investment community by providing comprehensive industry coverage that reflects a unique global perspective, and combines ongoing analysis of markets, technologies, econometrics and demographics.

 
 
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Meeting Growing Demands of Managed Care Key to Driving Uptake of Care Management Software

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