Rising Popularity of Home Care Underlines Rise of Care Management Markets Across Europe, Finds Frost & Sullivan
By Frost Sullivan, PRNEMonday, February 15, 2010
LONDON, February 16, 2010 - Europe's patient population is moving towards long-term care and homecare
from hospitals and other clinical settings. Consequently, the significance of
nursing and residential care services is on the rise. 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.
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New analysis from Frost & Sullivan (www.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 spiraling 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 e-mail to
Katja Feick, Corporate Communications, at katja.feick@frost.com, with your
full name, company name, title, telephone number, company e-mail 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 Contact: Katja Feick Corporate Communications - Europe P: +49-(0)-69-7703343 E: katja.feick@frost.com www.frost.com Twitter: twitter.com/frost_sullivan
Katja Feick of Frost & Sullivan Corporate Communications - Europe, +49-(0)-69-7703343, katja.feick at frost.com, Twitter: twitter.com/frost_sullivan
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