Mental Health Software Market: Increasing Adoption of BHS and High Demand for Mental Health Services


 

What This Report Will Provide?

This study involved four major activities in estimating the current size of the mental health software market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.

The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.

Expected Revenue Growth:

[222 Pages Report] The mental health software market is expected to reach USD 2.31 billion by 2022 from USD 1.15 billion in 2017, at a CAGR of 14.8%.

Major Growth Boosters:

Increasing adoption of behavior health software, availability of government funding, government initiatives to encourage EHR adoption in behavioral health organizations, favorable behavioral health reforms in the US, and high demand for mental health services amidst provider shortage are the major factors driving the growth of this market.

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=45953340

Increasing Adoption of BHS:

High healthcare costs for the treatment of behavioral health-related problems or mental illnesses form a key concern for governments. Major contributing factors to these high costs are the need for and generation of excessive paperwork, causing loss of productivity amongst clinicians and improper revenue cycle management by behavioral health organizations. The need to resolve these issues has boosted attention on and the adoption of behavioral health software, as a means of reducing medication errors and paperwork; enhancing productivity by ensuring quick patient data access; improving workflow efficiency; and minimizing healthcare costs. These benefits of behavioral health software have driven their adoption, especially among large hospitals and community clinics.

Recent Developments:

In July 2017, Netsmart acquired DeVero (US) a healthcare technology company that specializes in home healthcare and hospice, to extend its expertise to home care and long-term care.

July 2016, Core Solutions formed partnership with AHRC (US). This partnership will advance care delivery for the IDD population, Core Solutions’ Cx360 EHR and AHRC New York City aimed to deliver modern technological means to impact the delivery of services together.

In March 2015, Netsmart signed partnership with Mental Health Center of Denver (MHCD) (US) to develop and share solutions for recovery –based mental health care.

Key Questions Addressed in The Report:

1. Who are the top 10 players operating in the global mental health software market?
2. What are the drivers, restraints, opportunities, and challenges in the mental health software Industry?
3. What are the opportunities for stakeholders and provide details of the competitive landscape for key players?
4. What will be growth of mental health software in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa?

Regional Growth Analysis:

North America is expected to dominate the market, followed by Europe. The high growth of the North American market is attributed to factors such as increasing behavioral health reforms and the availability of government funding for expanding behavioral health services in the region. While North America is expected to dominate the market in 2017, Europe is expected to register the highest CAGR during the forecast period. The high growth in this regional segment is attributed to growing incidence of mental disorders, government initiatives for increasing awareness about mental disorders, and the improving accessibility of behavioral healthcare.

Request Sample Report:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=45953340

Key Players in Mental Health Software Market:

Advanced Data Systems (US), AdvancedMD (US), Cerner (US), Compulink (US), Core Solutions (US), Credible Behavioral Health (US), Welligent (US), Valent (US), The Echo Group  (US), Kareo (US), Meditab Software (US), Qualifacts (US), Mindlinc (US), Netsmart (US), and Nextgen Healthcare (US).

Comments

Post a Comment

Popular posts from this blog

Home Healthcare Market Dynamics and Latest Developments

Image
  This report aims to provide detailed insights into the global home healthcare market . It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market. Expected Revenue Growth: The Home Healthcare Market is projected to reach  USD 298.2 billion  by 2026 from  USD 198.9 billion  in 2021, at a CAGR of 8.4% during the forecast period. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=696 Key Factors Driving Market Growth: The Rapid growth in the elderly population, the rising incidence of chronic diseases, the growing need for cost-effective healthcare delivery due to the increasing healthcare costs, and technological advancements of home care devices are the major fa
Read more

NGS-Based RNA-Sequencing Market Dynamics and Latest Developments

Image
  This report aims to provide detailed insights into the NGS-based RNA-sequencing market . It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market. Expected Revenue Growth: The NGS-based RNA-sequencing industry size is projected to reach  USD 4.2 billion  by 2024 from  USD 1.7 billion  in 2019, at a CAGR of 20.0% during the forecast period. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=102977816 Key Factors Driving Market Growth: Market growth is driven mainly by the advantages of RNA-seq over conventional technologies; an increasing number of RNA-seq grants; rising number of research activities involving RNA-seq; and rapid growth in precision medicine mar
Read more

Pain Management Devices Market Growth, Trends, Size, Share, Industry Demand, Global Analysis

Image
Key Factors Driving Pain Management Devices Market Growth: Pain management devices are used to manage chronic and acute pain in patients suffering from various types of disease conditions, such as cancer, neurological disorders, and musculoskeletal disorders, among others. These devices restore the ability to do everyday activities, decrease the need for oral pain medications, and improve the quality of life of patients suffering from these conditions. Revenue Growth Analysis: [249 Pages Report]  The global pain management devices market is projected to reach USD 3.3 billion by 2026 from USD 2.2 billion in 2021, at a CAGR of 8.6% The study involved four major activities in estimating the current size of the Pain Management Devices Market . Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Bo
Read more