About Behavioral Mental Health Software -
According to the World Health Organization, Mental health is defined as a state of well-being in which every individual realizes his or her own potential, can cope with the normal stresses of life, can work productively and fruitfully, and is able to make a contribution to her or his community. Over 800 000 people die due to suicide every year and suicide is the second leading cause of death in 15-29-year-olds. Further, Mental health software is used by psychologists that enable behavioral health professionals to choose the best treatment plan for a person suffering from stress, anxiety, depression, addiction, etc., based on clinical evidence and patient records. This software also allows users to schedule online appointments and facilitate medical bill payment via mobile devices such as laptops and smartphones. Increasing significance on subscription models and increasing demand for behavioral health software in developing markets are driving the Global behavioral Mental Health Software market
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
CAGR | 12.5% |
The market is fragmented with numerous players and is involved in launching new product software for patients close monitoring. They are collaborating with other organizations. For instance, In September 2017, Netsmart Technologies collaborated with Metrocare Services for advanced behavioral healthcare. Metrocare Services is a provider of mental health services, especially for children. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Behavioral Mental Health Software - market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cerner Corporation (United States), Qualifacts Systems Inc. (United States), MindLinc (United States), Core Solutions Inc. (United States), Netsmart Technologies Inc. (United States), Epic Systems Corporation (United States), Credible Behavioral Health Inc. (United States) and Nextgen Healthcare Information Systems LLC (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Valant Medical Solutions Inc. (United States), Welligent Inc. (United States), Sigmund Software (United States), Echo Group (United States), TheraNest (United States) and WRS Health (United States).
Segmentation Overview
AMA Research has segmented the market of Global Behavioral Mental Health Software - market by Type (Software, Support Services, Integrated Software and Standalone Software) and Region.
On the basis of geography, the market of Behavioral Mental Health Software - has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End users, the sub-segment i.e. Hospitals will boost the Behavioral Mental Health Software - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Delivery Model, the sub-segment i.e. Subscription will boost the Behavioral Mental Health Software - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Financially , the sub-segment i.e. Clinical [EHRs, Clinical Decision Support, Care Plans, E-prescribing, Telehealth] will boost the Behavioral Mental Health Software - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Government Initiative to Increase Awareness and Adopt Mental Health Software, Real-Time Monitoring System Owing to Simplification of Communication Patients and Care Providers and Installation of EHR systems by Healthcare Practitioners
Market Growth Drivers:
Growing Incidence of Mental Disorders, Increasing Per Capita Healthcare Spendings, The Proliferation of Wearable and Mobile Devices and Increased Depression and Stress Enhanced the Requirement of the Behavioral/Mental Health Management Softwares
Challenges:
Low Awareness Regarding Benefits of Mental Healthcare Softwares
Restraints:
Lack of Skilled Professionals in Understanding the Mental Health Software Pertaining to Patients Treatment and Data Privacy Related Concerns May Hamper Market Growth
Opportunities:
Wide Scope for Improvement in Care Delivery of Behavioral Health Care and The Focus of Clinicians on Providing Quality Care to Patients
Market Leaders and their expansionary development strategies
In April 2019, OPEN MINDS and Credible Behavioral Health Software announce the launch of a new online community, the EHR Best Practices Community. The EHR Best Practices Community, at https://ehrbestpractices.org/, is a free platform for health and human service organization executives to share best practices on selecting, implementing, and optimizing the performance of patients electronic health recording (EHR) technology.
In Jan 2019, Discovery Behavioral Health announced today an exclusive agreement with KipuHealth to provide electronic medical records (EMR) software to its more than 60 centers for addiction and behavioral health treatment, located nationwide.
Key Target Audience
Behavioral Health Software Vendors/Service Providers, Healthcare IT Service Providers, Research and Consulting Firms, Healthcare insurance companies/payers, Healthcare institutions/providers, Venture capitalists, Government agencies, Health information exchanges and Accountable care organizations (ACOs)
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.