Global Behavioral Mental Health Software Market by Components, Delivery Models, Functionalities, End-users, and Regions– Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026
The behavioral mental health software market was valued at approximately USD 2.1 billion in 2019 and is expected to reach around USD 3.95 billion by 2026, expanding at a CAGR of around 11.1% during the forecast period, between 2020 and 2026. The growth of the market is attributed to increasing adoption of the software due to effective practice management. This software is cost-effective which in turn propels the growth of the market. However, lack of awareness regarding the benefits of mental health software is one of the primary factors hindering the growth of the market.
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Behavioral health, also known as mental health, is the scientific analysis of a human being related to emotions, mental well-being, concept of self, behavior, and ability to function in daily routine. Behavioral health includes anxiety, depression, addiction, and substance abuse. Behavioral mental health software is used to record and manage data of the patient related to mental, behavioral, and addiction. The software also manages other activities for the patients apart from its main purpose such as taking appointments, billing, and bed management that helps the companies to run smoothly.
Behavioral mental health software is used to handle case management and outcome management. It is used to manage different tasks related to the clinical and hospital practices including administrative, clinical, and operational tasks. Different types of software are made available in the market which helps the organization with various functionalities of clinics.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing health care and pharmaceutical expenditure across the globe is propelling the growth of the market.
- Surging government funding for rapid adoption of the behavioral mental health software in clinics and hospitals is one of the primary factors driving the growth of the market.
- Rising need of support services and quality care for mental health to the patients are the factors increasing the growth of the market.
- Reducing social stigma regarding the treatment of mental health is another major factor fueling the growth of the market.
- Lack of awareness among the physicians regarding the benefits of behavioral mental health software in the developing countries such as Middle East & Africa and Asia Pacific is one of the factors restraining the growth of the market.
- Increasing data privacy and security issues and growing concern related to data breaches are the major factors hampering the growth of the market.
- Shortage of well-trained psychologists is also one of the factors hindering the growth of the global behavioral mental health software market.
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Competitive Landscape:
Major companies in the global behavioral mental health software market include Welligent, Inc., Cerner Corporation, Netsmart Technologies, Epic, The Echo Group, and Core solutions, Inc. The companies are using strategic acquisitions such as expansions, capital investments, R&D activities, technological advancements, collaborations, mergers & acquisitions, and strategic partnerships.
The Global Behavioral Mental Health Software Market has been segmented on the basis of
Components
- Support Services
- Software
Delivery Models
- Subscription Model
- Ownership Model
Functionalities
- Clinical
- Financial
- Administrative
End-users
- Providers
- Payers
- Patients
Regions
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- Latin America
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- Behavioral Mental Health Software Market Overview
- Global Behavioral Mental Health Software Market Analysis and Forecast by Type
- Global Behavioral Mental Health Software Market Analysis and Forecast by Application
- Global Behavioral Mental Health Software Market Analysis and Forecast by Sales Channel
- Global Behavioral Mental Health Software Market Analysis and Forecast by Region
- North Behavioral Mental Health Software Market Analysis and Forecast
- Latin Behavioral Mental Health Software Market Analysis and Forecast
- Europe Behavioral Mental Health Software Market Analysis and Forecast
- Asia Pacific Behavioral Mental Health Software Market Analysis and Forecast
- Middle East & Africa Behavioral Mental Health Software Market Analysis and Forecast
- Competition Landscape
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