Global Mental Health Software Market Size, Share, Growth, Segmentation, Opportunities, Trends and Forecast To 2023
The Global Mental Health Software Market was worth USD 1.36 billion in 2018 and estimated to be growing at a CAGR of 13.87%, to reach USD 2.6 billion by 2023.
Mental health software is custom-built software which assists psychologists in understanding the behavior patterns of patients and suggests the best treatment plans to deal with anxiety, stress, addiction, depression etc. Mental health software is widely used software by many professionals. It has the ability to retrieve laboratory, pharmacy and radiology data observations on the patients who have been treated.
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The software has various features for better operations which display patient demographics in concurrence with the admission facility of the hospital i.e. the application records displays the availability of bed/s & current census and patient demographics as well. The software further assists in producing a customized report to address individual needs of patients. In simple words, a mental health software also acts as an ERP which helps healthcare professionals run their practices and proving effective for patient records, workflow, administration management, care delivery, billing, and coding.
The driving factors of global Mental Health Software market are behavioral health reforms, government initiatives in order to increase behavioral healthcare services around the globe, and the growing number of people seeking behavioral health support are likely to drive market growth. However, the market is constrained by factors such as data privacy concerns, the lower adoption rate of behavioral health EHRs, and a dearth of psychiatrists and healthcare IT professionals.
Market Segmentation Analysis:
Component
Delivery Model
Functionality
Clinical Functionality
Administrative Functionality
Financial Functionality
End User
Brief Note on Segmentation Analysis:
The market is based on delivery model into subscription models and ownership models. The subscription model has the largest share, which can be owed to a higher level of interoperability, data centralization capacities, software auto-upgrades and ease of customization. By component, the market is segmented into support services, integrated mental health software and standalone behavioral health software. By end user, a market is categorized into hospitals, community clinics, private practices, residential and payers.
The Global Mental Health Software market is divided based on geography into North America, Latin America, Asia-Pacific, Middle East and Africa and Europe. North America has the leading market for Mental Health Software in the world, owing to behavioral health reforms and rising number of behavioral health services. The Asia Pacific and Europe have the second and third largest markets respectively. Asia Pacific region is expected to have the fastest growth rate during the forecast period.
Industry Competitor Analysis:
Some of the major players in the market are:-
Cerner Corporation (U.S.), Core Solutions (U.S.), Credible Behavioral Health (U.S,), MindLinc (U.S.), Epic Systems Corporation (U.S.), Netsmart Technologies (U.S.), NextGen Healthcare Information Systems, LLC (U.S.), Qualifacts (U.S.), The Echo Group (U.S.), Valant, Medical Solutions Inc. (U.S.), and Welligent (U.S.) amongst others.
Scope of the Report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity.
Along with this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level.
Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
Global and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms of Delivery model, by End user along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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Some Point from Table of Content:
1.Introduction
2.Research Methodology
3.Overview
4.Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
5.Market Segmentation
6.Geographical Analysis
7.Strategic Analysis
- Market Leaders’ Analysis
8.1 Cerner Corporation
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Core Solutions
8.3 Credible Behavioral Health
8.4 MindLinc
8.5 Epic Systems Corporation
8.6 Netsmart Technologies
8.7 NextGen Healthcare Information Systems
8.8 Qualifacts
8.9 The Echo Group
8.10 Valant, Medical Solutions Inc.
- Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
- Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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