(PharmaNewsWire.Com, July 31, 2019 ) The growth of the market is attributed to the increasing adoption of behavioral 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.
The mental health software market is segmented into software and support services. In 2017, the support services segment is expected to account for the largest share of the behavioral health software market. The recurring requirement of support services (such as for software upgrades and maintenance) is the major factor supporting its growth.
The behavioral health software market is segmented into clinical, financial, and administrative functionalities. The clinical functionality segment is expected to register the highest rate during the forecast period. High growth in the clinical functionality segment is attributed to the increasing government initiatives to boost adoption of this software by clinicians to provide quality care to their patients at lower costs.
Mental Health Software Market: Region-wise Outlook
In 2017, North America is expected to dominate the market followed by Europe. The large share of this geographical segment is attributed to factors such as growing number of people requiring behavioral health services, behavioral health reforms in the US, and government funding for behavioral health services in the region.
Mental Health Software Market: Key Players
The behavioral health software market is highly competitive with the presence of several small and big players. Some of the players in the behavioral health software market include Advanced Data Systems (US), AdvancedMD (US), Cerner (US), Compulink (US), Core Solutions (US), Credible Behavioral Health (US), ICANotes (US), InSync Healthcare Solutions (US), iSalus Healthcare (US), Kareo (US), Meditab Software (US), Mentegram (US), Mindlinc (US), Netsmart (US), Nextgen Healthcare (US), NextStep Solutions (US), Nuesoft Technologies (US), Qualifacts (US), Raintree Systems (US), Sigmund Software (US), The Echo Group (US), TheraNest (US), Valant (US), Welligent (US), and WRS Health (US).
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