Global Mental Health Software Market Analysis and Forecast 2019-2028
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Innovative healthcare solutions and services to drive growth the global mental health software
The global mental health software market was US$ 4.5 Bn in 2021 and is expected to grow at a significant pace of 11.5% over the forecast period. Mental health software solutions are tailored to meet the needs of the mental health and behavioral health industries. These platforms fill the gap between general or standalone healthcare solutions that may not be able to provide all of a practice’s needs. The demand for eHealth solutions to monitor patients in remote areas is expected to rise as the number of aged people grows and the incidence of chronic diseases rises globally. This, in turn, is likely to raise healthcare organizations’ embrace of digital technologies, boosting the global mental health software market’s growth in the near future.
Artificial intelligence, voice recognition, and optical identification advances will enable online mental health software to make more precise diagnoses and give more individualized treatment. Virtual reality (VR) treatments are also supported by mental health software and are meant to assist patients in resolving trauma-related occurrences in a safe, controlled environment such as a doctor’s office. However, the entire digitization of healthcare services around the globe may be hampered by major concerns about privacy, data security, and equipment protection. The global mental health software industry may be hampered by a lack of awareness about the benefits of digital mental healthcare software and weak IT infrastructure in emerging regions.
The shift toward digital health is cited to benefit the mobile software segment’s progress
The devastating consequences of the Covid-19 healthcare crisis, as well as the ensuing psychological battles of individuals, pushed mental health into the mainstream. Mental health software allows doctors to create treatment plans for individuals suffering from anxiety, addiction, stress, and anxiety. The expansion of the software segment can be attributed to the increased usage of technological solutions for the management of psychiatry practices’ financial, administrative, and clinical responsibilities.
Based on the medical end user, the patient segment is expected to gain traction significantly in the next years, owing to the rising prevalence of anxiety and stress, as well as the increasing availability of a variety of mobile apps and improved internet connectivity. With psychology-based solutions for individuals and businesses, the mental wellness platform also helps build mental resilience, boost productivity, and retain motivation. Market participants provide both solo and all-inclusive solutions.
Clinical services such as claim submissions, documentation, appointment scheduling, billing, and coding are all provided by behavioral health software. Administrative functions are expected to be one of the leading categories in the upcoming years. Administrative responsibilities such as scheduling are advantageous since they allow for the timely delivery of care at a cheaper cost. Furthermore, document management in healthcare settings might help to avoid data overload.
High potential of growth for mental health software in the emerging economies
Workplace stress and anxiety disorders are on the rise, especially in the tech industry, as workload and stress have increased dramatically. Companies and significant corporations are now employing various mental health examinations to help them detect their employees’ mental health in order to deal with this. The adoption of IT in both developed and emerging economies will trigger the growth of mental health software in Latin America. The major factors driving the growth in North America are increased government funding, rising mental health software adoption, favorable behavioral health reforms in the US, government initiatives to promote Electronic Health Record adoption in psychiatry hospitals and facilities, and high demand for mental health services despite provider shortages.
The Asia Pacific region is likely to gain traction due to rising smartphone and internet penetration, as well as a growing geriatric population in China and Japan. With a big number of smartphone users in Asian nations like China and India, the market has a lot of growth potential. The European market is expected to grow as a result of a rise in behavioral problems and government efforts to raise mental health awareness. New advancements and innovations in technology for system improvement, and a rising level of productivity for fast data access will also drive growth in the Middle East & Africa region.
Market Structure and Competitive Landscape
The mental health software market is fragmented and highly competitive. Mergers and acquisitions are being pursued by key companies in the global mental health software market in order to improve their technological capabilities and get a competitive advantage in the industry. Furthermore, as compared to on-premise software solutions, cloud-based solutions are more cost-effective.
To grow their customer base, major market participants are expected to leverage this trend by providing cloud-based mental health products and services. Some of the prominent players in the market are Welligent Inc., Netsmart Technologies Inc., Cerner Corp., Valant Medical Solutions Inc., Qualifacts Systems Inc., Nextgen Healthcare Information Systems LLC, MindLinc, Credible Behavioral Health Inc. (Credible), Core Solutions Inc., Epic Systems Corp., Teladoc Health Inc., American Well, AdvancedMD, etc.
- In December 2021, Qualifacts and Credible announced the acquisition of InSync Healthcare Solutions. This enabled both organizations to deliver innovation, technology, customer support, and complementary solutions to enhance the behavioral health and human service market.
- In August 2021, American Well completed the acquisition of SilverCloud Health and Conversa Health. The acquisition was aimed at strengthening the market presence by enhancing and strengthening the cohesion between physical and virtual care.
Key Market Segmentation
RationalStat has segmented the global mental health software market based on the component, delivery model, functionality, end user and region.
- By Component
- Support Services
- Integrated Software
- Standalone Software
- By Delivery Model
- Subscription
- Ownership
- By Functionality
- Clinical
- Electronic Health Records
- Clinical Decision Support
- Care Plans/Health Management
- E-prescribing
- Telehealth
- Administrative
- Patient/Client Scheduling
- Document/Image Management
- Case Management
- Workforce Management
- Business Intelligence
- Financial
- Clinical
- By End User
- Medical
- Hospitals
- Patients
- Private Practitioners
- Payers
- Corporates
- Community Center
- Government Organizations
- Medical
- By Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- South Africa
- Turkey
- Rest of the Middle East & Africa
- North America
Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
Secondary Sources
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for healthcare companies, Healthtech companies, government organizations, the healthcare industry, educational organizations, regulatory agencies, and market research firms, among others. The report provides an in-depth analysis of market size, consumption patterns, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
| ADDITIONAL FEATURE | 24×7 Post sales support and 15% free customization |
|---|---|
| REGION | Global |
| RELEASE YEAR | 2023 |
| RESEARCH CODE | RST-SAR-982 |
| User License | Single User/Team License, Corporate License |
Table of Contents
1. Market Introduction
1.1. Scope of Study
1.2. Problem Statement
1.3. Market Segmentation
2. Assumptions and Acronyms
3. Executive Summary
3.1. Global Market in 2022
3.2. Analyst Insights & Recommendations
3.3. Growth Opportunities and Key Strategies
3.4. Supply-side and Demand-side Trends
4. Research Methodology
5. Analysis of COVID-19 Impact and Road Ahead
6. Market Indicators and Background
6.1. Macro-Economic Factors
6.1.1. Global Population Overview and Forecast
6.1.2. Global Mental Health Professionals in the select countries
6.2. Forecasting Factors
Robust assessment of various factors including industrial performance, industry players’ expenditures, economic conditions, among others
6.3. Supply Chain & Value Chain Analysis
6.3.1.Mental Health Software Providers
6.3.2. Key End Users
6.4. Industry SWOT Analysis
6.5. PESTLE Analysis
6.6. Porter’s Five Forces Analysis
7. Government Laws and Industry Regulations
8. Global and Regional Market Dynamics
8.1. Drivers
8.2. Restraints
8.3. Trends
8.4. Opportunities
9. Global Mental Health Software Market: Key Investment Analysis
9.1. By Software Developers
9.2. By Region
9.3. By End User
9.4. M&A Activities
Robust assessment of major investments made by various industry players along with key application areas, technological assessment, and key end-use sector
10. Pricing Analysis
10.1. By Functionality
10.1.1. Clinical
10.1.2. Administrative
10.1.3. Financial
10.2. By Region
10.2.1. North America
10.2.2. Western Europe
10.2.3. Eastern Europe
10.2.4. Asia Pacific
10.2.5. Latin America
10.2.6. Middle East & Africa
11. Cost-Benefit Assessment: Mental Health Professionals VS Mental Health Software
12. Parent Market Overview: Global Healthcare/Software Market
13. Segmental Analysis
13.1. Global Mental Health Software Market by Components
13.1.1. Segment Overview
13.1.1.1. Support Services
13.1.1.2. Software Services
13.1.1.2.1. Integrated Software
13.1.1.2.2. Standalone Software
13.2. Global Mental Health Software Market by Delivery Model
13.2.1. Segment Overview
13.2.1.1. Subscription
13.2.1.2. Ownership
13.3. Global Mental Health Software Market by Functionality
13.3.1. Segment Overview
13.3.1.1. Clinical
13.3.1.1.1. Electronic Health Records
13.3.1.1.2. Clinical Decision Support
13.3.1.1.3. Care Plans/Health Management
13.3.1.1.4. E-prescribing
13.3.1.1.5. Telehealth
13.3.1.2. Administrative
13.3.1.2.1. Patient/Client Scheduling
13.3.1.2.2. Document/Image Management
13.3.1.2.3. Case Management
13.3.1.2.4. Workforce Management
13.3.1.2.5. Business Intelligence
13.3.1.3. Financial
13.4. Global Mental Health Software Market by End User
13.4.1. Segment Overview
13.4.1.1. Medical
13.4.1.1.1. Hospitals
13.4.1.1.2. Patients
13.4.1.1.3. Private Practitioners
13.4.1.2. Payers
13.4.1.2.1. Corporates
13.4.1.2.2. Community Center
13.4.1.2.3. Government Organizations
13.5. Global Mental Health Software Market by Region
13.5.1. North America
13.5.2. Latin America
13.5.3. Western Europe
13.5.4. Eastern Europe
13.5.5. Asia Pacific
13.5.6. Middle East & Africa
14. Regional Analysis
14.1. North America Mental Health Software Market Analysis and Forecast 2019-2028
14.1.1. Regional Market Overview and Key Takeaways
14.1.2. North America Mental Health Software Market by Components
14.1.3. North America Mental Health Software Market by Delivery Model
14.1.4. North America Mental Health Software Market by Functionality
14.1.5. North America Mental Health Software Market by End User
14.1.5.1. US
14.2. Latin America Mental Health Software Market Analysis and Forecast 2019-2028
14.2.1. Regional Market Overview and Key Takeaways
14.2.2. Latin America Mental Health Software Market by Components
14.2.3. Latin America Mental Health Software Market by Delivery Model
14.2.4. Latin America Mental Health Software Market by Functionality
14.2.5. Latin America Mental Health Software Market by End User
14.2.5.1. Brazil
14.2.5.2. Mexico
14.2.5.3. Rest of Latin America
14.3. Western Europe Mental Health Software Market Analysis and Forecast 2019-2028
14.3.1. Regional Market Overview and Key Takeaways
14.3.2. Western Europe Mental Health Software Market by Components
14.3.3. Western Europe Mental Health Software Market by Delivery Model
14.3.4. Western Europe Mental Health Software Market by Functionality
14.3.5. Western Europe Mental Health Software Market by End User
14.3.5.1. Germany
14.3.5.2. UK
14.3.5.3. France
14.3.5.4. Spain
14.3.5.5. Italy
14.3.5.6. Benelux
14.3.5.7. Nordic
14.3.5.8. Rest of Western Europe
14.4. Eastern Europe Mental Health Software Market Analysis and Forecast 2019-2028
14.4.1. Regional Market Overview and Key Takeaways
14.4.2. Eastern Europe Mental Health Software Market by Components
14.4.3. Eastern Europe Mental Health Software Market by Delivery Model
14.4.4. Eastern Europe Mental Health Software Market by Functionality
14.4.5. Eastern Europe Mental Health Software Market by End User
14.4.5.1. Russia
14.4.5.2. Poland
14.4.5.3. Rest of Eastern Europe
14.5. Asia Pacific Mental Health Software Market Analysis and Forecast 2019-2028
14.5.1. Regional Market Overview and Key Takeaways
14.5.2. Asia Pacific Mental Health Software Market by Components
14.5.3. Asia Pacific Mental Health Software Market by Delivery Model
14.5.4. Asia Pacific Mental Health Software Market by Functionality
14.5.5. Asia Pacific Mental Health Software Market by End User
14.5.5.1. China
14.5.5.2. Japan
14.5.5.3. India
14.5.5.4. South Korea
14.5.5.5. Australia
14.5.5.6. ASEAN
14.5.5.7. Rest of Asia-Pacific
14.6. Middle East & Africa Mental Health Software Market Analysis and Forecast 2019-2028
14.6.1. Regional Market Overview and Key Takeaways
14.6.2. Middle East & Africa Mental Health Software Market by Components
14.6.3. Middle East & Africa Mental Health Software Market by Delivery Model
14.6.4. Middle East & Africa Mental Health Software Market by Functionality
14.6.5. Middle East & Africa Mental Health Software Market by End User
14.6.5.1. GCC
14.6.5.2. South Africa
14.6.5.3. Turkey
14.6.5.4. Rest of the Middle East & Africa
15. Competitive Landscape
15.1. Competition Dashboard
15.1.1. Global and Regional Market Share Analysis
15.1.2. Market Structure
15.2. Competitive Benchmarking
15.3. Key Strategy Analysis
15.4. Company Profiles
15.4.1. Welligent Inc.
15.4.1.1. Company Overview
15.4.1.2. Product/Service Offerings
15.4.1.3. Key Financials
15.4.1.4. Recent Developments
15.4.2. Netsmart Technologies Inc.
15.4.2.1. Company Overview
15.4.2.2. Product/Service Offerings
15.4.2.3. Financials
15.4.2.4. Recent Developments
15.4.3. Cerner Corp.
15.4.3.1. Company Overview
15.4.3.2. Product/Service Offerings
15.4.3.3. Financials
15.4.3.4. Recent Developments
15.4.4. Valant Medical Solutions Inc.
15.4.4.1. Company Overview
15.4.4.2. Product/Service Offerings
15.4.4.3. Financials
15.4.4.4. Recent Developments
15.4.5. Qualifacts Systems Inc.
15.4.5.1. Company Overview
15.4.5.2. Product/Service Offerings
15.4.5.3. Financials
15.4.5.4. Recent Developments
15.4.6. Nextgen Healthcare Information Systems LLC
15.4.6.1. Company Overview
15.4.6.2. Product/Service Offerings
15.4.6.3. Financials
15.4.6.4. Recent Developments
15.4.7. Credible Behavioral Health Inc. (Credible)
15.4.7.1. Company Overview
15.4.7.2. Product/Service Offerings
15.4.7.3. Financials
15.4.7.4. Recent Developments
15.4.8. Core Solutions Inc.
15.4.8.1. Company Overview
15.4.8.2. Product/Service Offerings
15.4.8.3. Financials
15.4.8.4. Recent Developments
15.4.9. Epic Systems Corp.
15.4.9.1. Company Overview
15.4.9.2. Product/Service Offerings
15.4.9.3. Financials
15.4.9.4. Recent Developments
15.4.10. Teladoc Health Inc.
15.4.10.1. Company Overview
15.4.10.2. Product/Service Offerings
15.4.10.3. Financials
15.4.10.4. Recent Developments
15.4.11. American Well
15.4.11.1. Company Overview
15.4.11.2. Product/Service Offerings
15.4.11.3. Financials
15.4.11.4. Recent Developments
15.4.12. AdvancedMD
15.4.12.1. Company Overview
15.4.12.2. Product/Service Offerings
15.4.12.3. Financials
15.4.12.4. Recent Developments
A comprehensive list of Mental Health Software providers will be provided along with geographical reach, employee count, revenue, product capacities, and their capabilities
16. Disclaimer
Every Sample Includes
Research Methodology
Complete Table of Contents, List of Charts and Tables
Exclusive Facts & Illustrations
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