Selbyville, Delaware, May 18, 2022 (GLOBE NEWSWIRE) --
The behavioral & mental health software market value is projected to reach USD 18.3 billion by 2030, according to a new research report by Global Market Insights Inc. Increasing government funding and initiatives toward mental health services is expected to boost the market size.
Increasing need for effective behavioral & mental health services including in pandemic has triggered the market growth. Furthermore, benefits associated with behavioral & mental health software such as optical recognition and voice recognition technologies, virtual reality (VR) treatments to assist individuals in relieving trauma-related incidents will spur the business landscape.
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Software segment is estimated to expand at 16.2% CAGR between 2022 and 2030 driven by rising adoption of behavioral & mental health software in various healthcare setting such as hospitals & clinics. Moreover, growing number of health insurance policies that covered mental health conditions is another key factor to accelerate the overall industry progression. Furthermore, the behavioral & mental health software allow mental health professional to design & choose the appropriate treatment plan for patients suffering from addiction, stress, anxiety, and depression.
Some major findings of the behavioral & mental health software market report include:
- Widespread application of behavioral and mental health software such as in clinical, financial, and administrative practice is predicted to spur the market statistics.
- Benefits associated with administrative segment is anticipated to drive the market expansion.
- Rapidly upgrading healthcare infrastructures in the countries of Asia Pacific region will create lucrative opportunities in the market.
Browse key industry insights spread across 120 pages with 256 market data tables & 16 figures & charts from the report, Behavioral & Mental Health Software Market Analysis By Component (Software {Cloud-based, Web-based}, Services), By Application (Clinical {{Electronic Health Record (EHR), Health Management, Telehealth, E-prescribing, Clinical Decision Support}, Financial, Administrative) By End-use (Hospitals, Community Clinics, Private Practices), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/behavioral-mental-health-software-market
Behavioral & mental health software market from administrative segment is set to surpass USD 6.1 billion by 2030. Large-scale centers require centralized scheduling system to survey multiple providers in one place. Thus, administrative functions such as patient/client scheduling is beneficial as it offers timely care delivery at lower cost, thereby supplementing the segment growth. Furthermore, growing usage of software and services owing to the document management that eliminate the risks of data overload in long-term care units, hospitals, clinics, and rehabilitation centers will further augment the market outlook.
Hospitals segment is likely to witness 17.7% CAGR during the analysis period due to high adoption rate of mental health software in the hospital. Additionally, large patient pool preferring hospitals for the treatment of mental illness will accelerate the overall industry trends. Moreover, increasing prevalence of anxiety among the geriatric population will further rise the market of behavioral & mental health software in the hospital setting.
Asia Pacific behavioral & mental health software market accounted for USD 410.2 million in 2021. The emerging markets provide significant growth opportunities for market players operating in behavioral health software industry, especially for those, that are unable to reach the standards set by the Federal Government in U.S. In addition, the presence of rapidly upgrading healthcare infrastructures will fuel the regional market progress.
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A few notable companies operating in the behavioral & mental health software market include AdvancedMD, Advanced Data Systems Corporation, Meditab, CureMD Healthcare, Netsmart Technologies, Inc, NXGN Management, LLC, Teladoc Health Inc, Qualifacts Systems, Inc., TherapyNotes, LLC., and Ontrak Inc.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
