The global behavioral health software market size is projected to surpass around USD 5.5 billion by 2030 from USD 2.1 billion in 2021 and anticipated to grow at a CAGR of 19.6% during forecast period 2021 to 2030.
Mental health software aids behavioral health care providers to decide on the right treatment option for a person suffering from stress, depression, alcohol, or anxiety. The patients health records or details and the patients medical history record are used to draft or construct the proposal. Owing to the rising prevalence of stress, anxiety, and depression, patients increasingly seek care. As a result, healthcare providers use automated technologies to monitor behavioral/mental wellbeing, such as software. According to WHO statistics from 2020, depression is the most common medical disease and one of the leading causes of disability worldwide. Depression is said to affect 264 million people worldwide, as per the same source. According to reports, the program allows users to schedule appointments online and pay medical bills using mobile devices such as smartphones and laptops.
The behavioral/mental health software market is expected to be driven by an increase in the rise of government funding for adoption of the software in healthcare facilities, increase in healthcare expenditure and focus of clinicians (providing quality care to patients). One more significant factor driving the behavioral/mental health software market is the recurring requirement of support services for the software.
Moreover, during the coming years, the social stigma related to behavioral health treatment is expected to decline owing to the growth of the behavioral/mental health software market. Also, the expansion of the Medicare coverage by private health insurance is expected to influence the behavioral/mental health software market during the forecast period.
However, some of the factors hindering the growth of the behavioral/mental health software market are lack of awareness about behavioral/mental health software among clinicians and the shortage of skilled psychologists. The data security issues and privacy issues are some expected challenges for the behavioral/mental health software market.
Since the global pandemic COVID-19 arrived, it has been found that there is a rise in stress, anxiety, depression, anger, and paranoia among the population, raising the incidence of mental health conditions. As a result of the growing mental health community, online sites for care and diagnosis will grow in popularity, driving the behavioral/mental health software market. During the COVID-19 global pandemic, the University of North Carolina (UNC) partnered with Google Cloud to create an app called Heroes Wellness in July 2020 to promote the mental health of first responders and healthcare staff.
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global behavioral health software market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
Some key players of behavioral/mental health software market are Nextgen, AdvancedMD, Compulink, Cerner, Core Solutions, Credible Behavioral Health, InSync Healthcare Soulutions, Isalus Healthcare, ICA Notes, Kareo, NextStep Solutions, Qualifacts, Raintree Systems, The Eco group, Sigmund Software, TheraNest, Valant, and WRS Health. These players are expected to influence the behavioral/mental health software market during the forecast period also.
This report focuses on behavioral health software market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall behavioral health software market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global behavioral health software market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global behavioral health software market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the behavioral health software market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
In this study, the years considered to estimate the market size of behavioral health software are as follows:
The research methodology adopted by analysts for compiling the global behavioral health software market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global behavioral health software market.
The study objectives of this report are:
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