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Global Behavioral Mental Health Software Market Size, Trends, and Analysis - Forecasts To 2026 By Component (Software, Integrated software, Standalone software, Support services), By Delivery Mode (Subscription mode, Ownership mode), By End- User (Hospitals, Clinics, Private practice, Doctors and Health Care Practitioners, Others), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis.
Behavioural/Mental Health Software (BMHS) is sophisticated and custom-built software that psychiatrists around the world use to understand patient’s behavior trends and recommend to help with mental problems such as stress, anxiety, addiction, and depression. It can gather laboratory, pharmacy, and radiology data observations of the patients under treatment. Additionally, the app provides a comprehensive report that examines the needs of the particular patient. It is found that rising job stress is the main impetus for the need for mental health care management. According to the data released by the American Psychological Association in February 2019, 75 percent of adults have recorded medium to high-stress levels in the past months, and almost half of them have identified a rise in their stress in recent times.
The need for mental health applications is projected to be influenced by increasing health care spending, and the increased federal financing for software deployment in health care institutions. Physicians' across the globe are supplying patients with quality care, by using and implementing software support services. Changing healthcare infrastructure in emerging regions and increasing adoption of such systems in developed countries are projected to remain a key growth factor for patient flow management.
However, no awareness among physicians in developing markets in the Asia Pacific and the Middle East & Africa of behavioral health software, scarcity of trained psychiatrists, privacy concerns, concerns about security breaches, and data protection concerns are likely to impede the industry in the coming years.
According to the data published by WHO, more than 2,443 people among the 100,000 population experience mental health problems.
In terms of component, the market can be segmented into support services, integrated software, software, and standalone software. The software segment will hold the major chunk of the market and generate huge revenue between the forecast period. The development of the segment is attributed to the growing implementation of technical strategies for handling the economical, institutional, and clinical aspects of mental health care practices. (Electronic Health Records) EHR programs have built-in claims and payment capabilities that can handle difficult billing processes, and their smartphone version helps patients to access facilities on the go. The software solutions enable practitioners in behavioral health to develop and select the best recovery plan for a person with mental health challenges, such as stress, anxiety, depression, addiction, and drug abuse. Based on scientific data and patient information, mental health software helps in designing treatment programs.
Based on the delivery model, the market is considered into two models namely the ownership model and a subscription model. The subscription services segment captured the largest market share and is expected to record the fastest CAGR. Many small-scale mental healthcare providers have little resources to spend on technical solutions, unlike huge private hospitals. Furthermore, these practitioners are not likely to qualify for benefits for effective use of EHRs due to the limited size of their practice. In small-scale mental health practices, thus, lack of reimbursement prevents the use of EHRs. Also, experts of mental health refuse to spend loads of money on tech solutions. Small-scaled practices with limited funds favor subscription-based tech solutions. For mental health practitioners, multiple affordable alternatives are designed that will have an optimal return on the investment.
Based on the end-user, the market can be categorized into Health Care Practitioners, Clinics, Private practice, Hospitals, Doctors, and Others. The end-use category in this market is led by health care practitioners in terms of revenue share. Throughout the projected duration, they are expected to hold their top spot. Increased coverage in mental wellbeing and federal investment in behavioral health is expected to accelerate the implementation of mental health software systems in hospitals and private practice clinics.
North America holds the dominant position in terms of sales and revenue. Market development in the region can be due to a spike in the number of patients with mental health problems, an increase in the acceptance of software for mental health, and a high degree of awareness among individuals.
During the projected timeframe, the demand in Europe is projected to register a fast CAGR due to improved access to mental health services, a rise in the prevalence of behavioral problems, and government initiatives to promote awareness about behavioral health.
Asia Pacific is projected to be the prospective region, rising during the forecasted period at a CAGR of 15.85 percent. The increasing aging population is projected to drive regional development in Japan and China. The lack of awareness among individuals about mental wellbeing, the social stigma associated with behavioral or mental health, and the lack of awareness among practitioners about mental health software can be linked to slow development in Asia Pacific, Latin America, and the Middle East & Africa region.
The leading suppliers operating in the Behavioral Mental Health Software Market are NextStep Solutions, AdvancedMD, WRS Health, Compulink, InSync Healthcare Solutions, Valant, Cerner, Core Solutions, Nextgen, Qualifacts, The Eco group, Credible Behavioral Health, Isalus Healthcare, Sigmund Software, ICA Notes, Raintree Systems, TheraNest, and Kareo.
Please note: This is not an exhaustive list of companies profiled in the report.
Core Solutions collaborated with AHRC to facilitate enhanced treatment delivery for the IDD community, the Core Solutions Cx360 EHR, and the AHRC New York City targeted at delivering innovative technical means to mutually influence the delivery of services.
In 2018, AdvanvcedMD introduced its new product AdvancedCQM and strengthening its portfolio in the behavioral health segment
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The Global Behavioral Mental Health Software Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Behavioral Mental Health Software Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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