Mental Health Software Market size was estimated at $3.4 billion in 2021 and is expected to reach $8.4 billion by 2031, growing at a CAGR of 12% during the forecast period of 2022 to 2032.
Mental Health Software Market
Mental health software allows health professionals to manage their clinical, administrative and operational workflow over electronic devices. It also helps in the management of patient cases or outcomes and even ensures regulatory compliance. Mental health software is also known as behavioral health software and therapy software. It is software with specialized programs that are built to support physicians, therapists, and other related professionals to improve efficiency and care at their clinic or facility.
Mental Health Software Market Growth and Trend
The growing demand for efficient management of clinical and operational functionality is significantly driving the growth of the global mental health software market. Moreover, the growing concern of health professionals to provide better care and facilities is further propelling the demand for mental health software. In addition, the rising demand for digital records followed by rapid digitalization along with advancement in network technology is also augmenting the scope of the utilization of mental health software. Furthermore, mental health software allows mental health specialists to access old notes to review the previous sessions. It also provides note templates to specialty psychiatric, including anxiety, depression, mania, eating disorder, addiction, personality disorder, suicide, and more. Additionally, it also facilitates the graphical depiction of ongoing progress with social, occupational, and psychological ratings. However, the lack of awareness in developing countries may limit the expansion of the mental health software market globally in the years ahead.
Mental Health Software Market Segmentation
The global mental health software market is segmented based on component, functionality, delivery model, and end-user. By component, the market is segregated into software and support services. The software segment is further classified into integrated software and standalone software. The support service segment holds a significant market share due to the rising demand for maintenance services. By functionality, the market is bifurcated into administrative functionality, clinical functionality, and financial functionality. The administrative functionality segment is further segmented into document/image management, patient/client scheduling, case management, workforce management, and business intelligence (BI). The clinical functionality segment is subdivided into clinical decision support (CDS), electronic health records (EHR), care plans/health management, telehealth, and e-prescribing. The financial functionality segment includes managed care, revenue cycle management, accounts payable/general ledger, and payroll. The clinical functionality segment is expected to expand rapidly in the years ahead due to rising adoption by hospitals and clinics for easy accessibility to the healthcare system. By delivery model, the market is divided into ownership models and subscription models. The subscription model segment accounted for a major share and is expected to register a high growth rate over the forecast time period. Based on end-user, the market is classified into payers, providers, and patients. The provider segment includes community clinics, hospitals, and private practices.
Mental Health Software Market Country Analysis
North America holds a major share, i.e., more than 42% in the year 2020, and is expected to register a high growth rate over the forecast time period. However, Europe is the second-largest shareholder and is expected to lead the market in the years ahead.
Mental Health Software Market Share and competition-
The prominent players operating in the global mental health software market are Cerner, Netsmart, Mindlinc, Core Solutions, Nextgen Healthcare, Valant, The Echo Group, Welligent, Qualifacts, Kareo, Compulink, Meditab, Credible, Advance Data Systems, and Advancedmd, among others.
Report Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2032)
• Data breakdown for every market segment (2022 – 2032)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Component Analysis (Revenue, USD Million, 2022 - 2032)
• Support Services
• Software
Functionality Analysis (Revenue, USD Million, 2022 - 2032)
• Clinical Functionality
• Clinical Decision Support (CDS)
• Electronic Health Records (EHR)
• Care Plans/Health Management
• Telehealth
• E-Prescribing],
Administrative Functionality
• Document/Image Management
• Patient/Client Scheduling
• Case Management
• Workforce Management
• Business Intelligence (BI)
• Financial Functionality
• Managed Care
• Revenue Cycle Management
• Accounts Payable/General Ledger
• Payroll
Delivery Model Analysis (Revenue, USD Million, 2022 - 2032)
• Subscription
• Ownership
End-Users Analysis (Revenue, USD Million, 2022 - 2032)
• Providers
• Payers
• Patients
Region Analysis (Revenue, USD Million, 2022 – 2032)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Mental Health Software Market Companies
• Cerner
• Netsmart
• Mindlinc
• Core Solutions
• Nextgen Healthcare
• Valant
• The Echo Group
• Welligent
• Qualifacts
• Kareo
• Compulink
• Meditab
• Credible
• Advance Data Systems
• Advancedmd
Available Versions:-
• United States Mental Health Software Industry Research Report
• Europe Mental Health Software Industry Research Report
• Asia Pacific Mental Health Software Industry Research Report
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