WASHINGTON, Sept. 27, 2022 (GLOBE NEWSWIRE) -- The global behavioral mental health software market was valued at USD 2.5 billion in 2021 and is projected to attain a value of USD 5.2 billion by 2028 at a CAGR of 11.1% during the forecast period 2022–2028.
There is a growing demand for behavioral mental health services across the globe. This demand is due to the increasing rates of depression, anxiety, and other mental health issues in the population. As of 2021, more than 1 billion people are living with mental disorders. Wherein anxiety and depressive disorders are the most prevalent among the population. Our study suggests that 1 in 8 individuals is affected by mental disorders across the globe. In the US alone, over 52 million people were having mental health problems in 2020. This indicates that 1 in 5 American adults has mental health issues.
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There are now over 600 million people with behavioral mental health problems. This is approximately double the number of people with behavioral mental health issues 15 years ago. And while most of these problems are mild, they can significantly impact people's lives.
According to our strategic perspective on behavioral health, behavioral health concerns are now a top global business concern and will account for $2 trillion in healthcare spending by 2025.
So, what is giving impetus to such high prevalence?
Vantage Market Research study found that the top three disorders associated with behavioral mental health problems are stress, insomnia, and depression. Together, these account for more than 60% of all behavioral mental health issues. The study also showed that men are more likely than women to experience these problems. Unfortunately, income plays a role in whether or not someone experiences behavioral mental health problems. As income decreases, so do the likelihood of experiencing behavioral and mental health problems.
Behavioral mental health services help people to address their emotional issues by providing them with counseling and therapy. These services are often necessary for people who are struggling with chronic mental illness or serious psychological issues. However, patients often find behavioral mental health services expensive, but they are also likely to be more effective than traditional treatments. Vantage Market Research attributes this because behavioral mental health services provide tailored intervention and support for individuals rather than relying on generic guidelines.
There are many complex causes of behavioral mental health problems, including environmental factors (such as stressors from work or family life), genetics, and neurobiology. As a result, some people are more likely to develop a mental health condition than others, and no single factor is responsible.
Effective treatment requires medical and psychological components for individuals suffering from behavioral mental health conditions. Medical treatments may include medications and psychotherapy, while psychological therapies may include cognitive-behavioral therapy (CBT) or mindfulness-based cognitive therapy (MBCT).
Key Industry Findings & Insights from the report:
- The Global behavioral mental health software Market was valued USD 2.5 Billion in 2021 and is all set to surpass USD 5.2 Billion by 2028, exhibiting a CAGR of 11.1% during the forecast period 2022-2028.
- In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
- In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
- The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
- Asia Pacific captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of behavioral mental health software industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.
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43% of Adults Worldwide will Experience a Behavioral Mental Health Problem
Vantage's research team conducted a thorough survey of professionals in behavioral healthcare and interviewed nearly 7,000 people treated for a behavioral mental health disorder and over 2,500 employees from various corporate businesses. Based on this research, we have identified seven behavioral mental health disorders: anxiety disorders, mood disorders, eating disorders, ADHD, OCD, post-traumatic stress disorder (PTSD), and male sexual dysfunction.
Most people with these disorders experience significant distress in multiple areas of their lives. The most common symptoms include feeling stressed or anxious, having trouble concentrating or focusing on tasks, experiencing changes in appetite or weight, avoiding certain people or activities because of fears or nervousness, and experiencing strong emotions like fear or anger without any apparent reason.
These symptoms can seriously affect an individual's ability to work or school, usually socialize, and manage stress levels appropriately.
- 46% of respondents had experienced at least one behavioral mental health issue in the past year. This includes everything from anxiety and depression to obsessive-compulsive disorder and anxiety disorders.
- 43% of adults worldwide will experience a behavioral mental health problem at some point. These problems can range from stress and anxiety to obsessive-compulsive disorder (OCD) and depression.
- 68% believe that AI will contribute to mental health problems, 67% think it will lead to more stress, and 55% believe it will contribute to more addiction.
- Behavioral mental health problems will affect 29% of the U.S. population by 2028, up from 20% in 2020.
- 43% of workers who exhibited signs of a behavioral mental health problem required an Employee Assistance Program (EAP) assistance to maintain work productivity. That number is projected to rise to 57% by 2028.
- 77% of professional respondents have observed an increase in behavioral problems over the past year. The most common behavioral issues reported were employee absenteeism (36%), personality disorders (18%), and stress (19%).
- 43% of employees with behavioral mental health conditions are dissatisfied with their jobs, compared to 29% of employees without behavioral health conditions. Additionally, 38% of employees with behavioral mental health conditions say they have missed work due to their condition in the past 12 months, compared to 21% of employees without behavioral mental health conditions.
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CBD is Becoming Popular Among Patients for Dealing with Behavioral Mental Health Problems
The use of CBD oil as a treatment for behavioral and mental health problems is on the rise. CBD has been found to be helpful in treating a variety of conditions, including anxiety, addiction, and depression. CBD can also help to improve sleep quality and reduce anxiety and stress levels. Some of the benefits that have been found to be associated with CBD include: improved mood, decreased anxiety and stress levels, better sleep quality, reduced cravings and withdrawals from addictive substances, and relief from pain. CBD has also been shown to be effective in treating other conditions related to behavioral mental health problems such as ADHD and OCD. CBD oil is available in many forms, including capsules, tinctures, and liquids. It can be used either by itself or in conjunction with other treatments for behavioral mental health problems.
Cannabis-derived Cannabinoids are gaining ground as a treatment for Behavioral Mental Health Problems. CBD has been shown to be effective in treating episodes of depression, anxiety, and other behavioral issues such as obsessive-compulsive disorder (OCD), post-traumatic stress disorder (PTSD), and attention deficit hyperactivity disorder (ADHD). However, because THC is the psychoactive compound in cannabis, CBD-only treatments have been met with limited success. New studies are exploring the use of CBD in combination with THC to improve patient outcomes.
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)".
Top Players in Global 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)
- Mediware (US)
- Allscripts (US)
Key Questions Answered in The Report:
- Which region will show the fastest and highest growth in the near future?
- Which are the top five players and their weakness and strength of the Market?
- What will be the future innovation in the upcoming six years?
- Which application and product will lead the largest share of the Market?
- What are the growth drivers, restraints and challenges of the industry?
- What will be the CAGR and size of the Behavioral Mental Health Software Market for the base year and forecast period?
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:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered |
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| Region & Counties Covered |
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| Companies Covered |
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| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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