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.

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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.

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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).