Unlike the past decade, therefore, the number of care homes in Europe has shown an increase. At the same time, care managers have been becoming technology savvy. As the adoption rates of care management systems surges, the potential of care management markets across Europe is improving.
New analysis from Frost & Sullivan (healthcareIT.frost.com), Strategic Analysis of Care Management Markets in Europe, finds that the markets earned revenues of $203.1 million in 2008 and estimates this to reach $694.4 million in 2015. The following technologies are covered in the research: stand-alone systems and integrated care management systems.
"The increasing number of care homes in Europe and the rising adoption rates of management systems by them boost the prospects of care management markets in Europe," notes Frost & Sullivan Industry Analyst S. Priyan. "The value proposition offered by care management systems lies in their ability to offset the shortage of nursing staff, thus expanding the potential of the market."
The increasing demand for care homes due to a rapidly ageing demographic also promotes market prospects. This is being reinforced by the growing costs of healthcare services in long-term care hospitals.
However, the rapidly spiralling operating costs of care homes threaten the uptake of care management systems.
"The operating costs of care homes are set to rise after installation; capital costs are followed by training and maintenance outlays," explains Priyan. "Personnel would take time to get accustomed to operating the systems, eating into the consumption of care time which, in turn, translates to indirect expenditure."
Interoperable and easily upgradeable systems from vendors could decrease integration and upgrading costs for care homes. This approach would enable costs to be controlled.
"Care management solutions should be easily interoperable with other solutions from the same vendor or other vendors," recommends Priyan. "This would help limit integration and upgrading costs for care homes. It would also ensure that data migration and integration will be easily achievable."
If you are interested more information on the Frost & Sullivan study 'Strategic Analysis of Care Management Market', please send an email to Katja Feick, Corporate Communications, at katja.feick[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.
Strategic Analysis of Care Management Market is part of the Healthcare & Life Sciences IT Growth Partnership Services programme, which also includes research in the following markets: European Markets for Digital Pathology Systems in Europe, European Hospital Information Systems Markets, European Markets for E-Prescription Systems and, European Healthcare Asset Management Systems Markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Strategic Analysis of Care Management Markets in Europe / M44D