Behavioral/Mental Health Software Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4074
Behavioral/Mental Health Software Market size is projected to experience significant growth from 2019 to 2025.
Growing prevalence of mental disorders due to growing lifestyle changes coupled with rising incidence of stress will drive the global behavioral/mental health software market growth. According to the Our World in Data statistics, in 2017, about 970 million people were suffering from some kind of mental health or substance abuse disorder. Due to changing lifestyle of the population, the number of people suffering from mental stress, anxiety disorders and depression has increased significantly and will thus create demand for behavioral/mental health management software in the forthcoming years.
Development of technologies involved in patient management software will provide numerous opportunities for behavioral/mental health software market growth. Software development in clinical management operations assists in better management of patient health conditions and gives easy access to patient health information. Thus, innovations in such technologies will lead to high customer preference for behavioral/mental health software, thereby leading to behavioral/mental health software industry growth.
However, data security and privacy issues related to patient data might restrain the adoption of behavioral/mental health software in the upcoming years.
Clinical applications of behavioral/mental health software will foresee significant upsurge in the upcoming period owing to increasing applications of various clinical functionalities across healthcare facilities. The adoption of EHRs has increased momentously over the period among patients, providers and healthcare facilities. Technological advancements in EHR coupled with rapid boost in the use of digital health solutions will augment the segmental growth over the coming years.
Patients end-use will account for considerable revenue size during the forecast years. Due to rising incidence of mental disorders, stress and anxiety, the need for mental health management software has increased. The software allows management of an individual’s routine, allowing patients to manage mental health. Thus, increasing adoption of software for mental health management, even at home, will stimulate the segmental growth.
U.S. behavioral/mental health software market will hold high market share of the global behavioral/mental health software market during the estimation period. As per the National Alliance on Mental Illness, about 46.6 million adults in the U.S. are affected by a mental illness in a year. Thus, growing prevalence of mental health disorders due to lifestyle changes will drive demand for behavioral/mental health software leading to market growth in coming years. Furthermore, high adoption of digital health solutions coupled with substantial expenditure on healthcare IT solutions will spur U.S. behavioral/mental health software industry growth.
Indian behavioral/mental health software market is expected to witness robust growth in coming years. Rising prevalence of mental disorders in the country will boost the product demand. According to the World Health Organization, approximately 2,443 people per 100,000 population experience mental health problems, with age-adjusted rate of about 21.1 per 100,000 people. Additionally, growing initiatives associated with use of digital healthcare solutions coupled with rising internet penetration will drive India behavioral/mental health software market growth.
Some of the players operating in the global behavioral/mental health software market include CureMD, AdvancedMD, Cerner Corporation and TherapyNotes among others. For instance, in August 2018, AdvanvcedMD launched AdvancedCQM, providing measures for behavioral health strengthening its portfolio.
Behavioral/Mental Health Software Market, by Component, 2014-2025 (USD Million)
Mental Health Software Market by Application, 2014-2025 (USD Million)
Behavioral/Mental Health Software Market, by End-use, 2014-2025 (USD Million)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Advanced Orthopaedic Solutions
- Bioretec Limited
- Cardial Health
- DePuy Synthes
- Integra LifeSciences
- Smith & Nephew
- Wright Medical Group N.V.
- Zimmer Biomet
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