WASHINGTON, Feb. 18, 2022 (GLOBE NEWSWIRE) — Vantage Market Research’s recent analysis of the Global Behavioral Mental Health Software Market finds that rising government funding & initiatives to encourage EHR adoption in behavioural health organizations, favourable behavioural health reforms, rising adoption of behavioural health software and huge demand for mental health services are factors that influencing the growth of Behavioral Mental Health Software Market. The total Global Behavioral Mental Health Software Market is estimated to reach USD 5.20 Billion by 2028, up from USD 2.50 Billion in 2021, at a compound annual growth rate (CAGR) of 11.1%, states Vantage Market Research, in a report, titled “Behavioral Mental Health Software Market by Component Outlook (Support Services, Software), by Delivery Model Outlook (Ownership, Subscription), by Function Outlook (Clinical, Administrative, Financial), by End-Use (Payers, Patients, Providers), by Region (North America, Europe, Asia Pacific, Latin America) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.
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List of Prominent Players in the Behavioral Mental Health Software Market:
- Advanced Data Systems (US)
- Advanced MD (US)
- Cerner (US)
- Compulink (US)
- Core Solutions (US)
- Credible Behavioral Health (US)
- Kareo (US)
- Meditab Software (US)
- Mindlinc (US)
- Netsmart (US)
- Nextgen Healthcare (US)
- Qualifacts (US)
- The Echo Group (US)
- Valant (US)
- Welligent (US)
- Cure MD(US)
- Epic systems corporations (US)
- Accumedic (US)
- Allscripts (US)
Emergence of Advance Medical Software to Handle Behavioural/Mental Health Issues Propels the Market Demand
Nowadays, problems such as depression, anxiety and stress are observed in many people. This lead to the various physical and mental health related issues, thus, increases the Behavioral Mental Health Software Market demand in coming years. In addition, healthcare sector is adopting various advance software to tackle behavioural/mental health problems. This is also one of the key reason to fuel the growth of Behavioral Mental Health Software Market over the projected period.
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Major Involvement of Healthcare Professionals to Taking Care Of Patient Drive the Market
Various healthcare professionals provide quality care to their patients, which in turn, augmenting the growth of Behavioral Mental Health Software Market in the coming years. In addition, rising government support for improving behavioural healthcare services, various behavioural health modifications and huge market player involvement in launching new product are expected to bolster the growth of Behavioral Mental Health Software Market in upcoming years. For Instance, Ehave, Inc., a healthcare company, made partnership with Cognitive Apps Software Solutions Inc, AI-Powered Mental Health Analytical Platform, to commercialize its Artificial Intelligence (AI) based Workforce Mental Health Analytical Platform in G20 countries.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The Report on Behavioral Mental Health Software Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
North America Holds Maximum Market Share
North America is expected to dominate the growth of Behavioral Mental Health Software Market in 2021, owing to the availability of large market share. In addition, increasing number of mental health patient and government funding for behavioural health services in the region are expected to augment the fastest growth of Behavioral Mental Health Software Market in the projected years. Furthermore, many market players are adopting various growth strategies and often launching new products. This is also incorporating the growth of Behavioral Mental Health Software Market in this region.
Browse market data Tables and Figures spread through 157 Pages and in-depth TOC on “Behavioral Mental Health Software Market by Component Outlook (Support Services, Software), by Delivery Model Outlook (Ownership, Subscription), by Function Outlook (Clinical, Administrative, Financial), by End-Use (Payers, Patients, Providers), by Region (North America, Europe, Asia Pacific, Latin America) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)” View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/behavioral-mental-health-software-market-149432
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Behavioral Mental Health Software Market?
- How will the Behavioral Mental Health Software Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Behavioral Mental Health Software Market?
- What is the Behavioral Mental Health Software market drivers and restrictions?
- What will be the CAGR and size of the Behavioral Mental Health Software Market throughout the forecast period?
February, 2021: CloudMD Software & Services Inc. launched its proprietary technology app “Snapclarity” and expanded their mental health services into the United States.
February, 2021: Battery Ventures introduced a cloud-based software platform which is mainly designed for mental health centres & special education organizations to help behavioural health & human service providers to improve their operational efficiencies.
August, 2020: Medics BedManager from Advanced Data Systems Corp. (ADS) drives comprehensive bed management automation for substance use disorder (SUD) and behavioral health inpatient facilities.
This market titled “Behavioral Mental Health Software Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
|Market Size in 2021||USD 2.50 Billion|
|Projected Market Size in 2028||USD 5.20 Billion|
|CAGR Growth Rate||CAGR of 11.1% From 2022 – 2028|
|Historic Years||2016 – 2020|
|Forecast Years||2022 – 2028|
|Segments Covered||Component Outlook
Delivery Model Outlook
|Quantitative Data – Units||Revenue in USD Million/Billion and CAGR from 2022 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
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