In the year 2018 Global Mental Health Software Market was valued at USD 1.36 billion. By the year 2023, it is predicted to reach USD 2.6 billion with pace of 13.87% CAGR.
Mental Health Software is used by psychologists to understand the behavior patterns of patients and suggests the best treatment plans to the patient suffering from anxiety, stress, addiction, depression and other disorders. This software also allows users to schedule online appointments and facilitate medical bill payment through electronic devices like laptops and smartphones. Mental Health Software has the ability to retrieve laboratory, pharmacy and radiology data of the patients who have been treated.
Increasing healthcare expenditure. (+) Rising funds by government in the adoption of software in healthcare facilities. (+) Increasing aging population across the globe. (+) Growing demand for mental health services. (+) Advancement of technology in medical industry. (+) Introduction of advanced software’s. (+) Data Privacy issues. (-) Lack of IT-Knowledge. (-) Lack of psychiatrists. (-) Lower adoption rate of behavioral health EHRs. (-)
The Global Mental Health Software Market is geographically segmented into
North America Europe Asia Pacific Latin America Middle East and Africa North America holds the largest market share in the Global Mental Health Software market followed by Europe, due to growing behavioral health reforms and rising number of behavioral health services. Asia-Pacific is expected to have the fastest growth rate for Mental Health Software market during the forecast period.
Major companies for Global Mental Health Software Market are Netsmart Technologies (U.S.), NextGen Healthcare Information Systems, LLC (U.S.), Qualifacts (U.S.), The Echo Group (U.S.), Valant, Medical Solutions Inc. (U.S.), Welligent (U.S.), Cerner Corporation (U.S.), Core Solutions (U.S.), Credible Behavioral Health (U.S,), MindLinc (U.S.), and Epic Systems Corporation (U.S.)
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