Behavioral/Mental Health Software Market by Component, Delivery, Functionality, End User And Region - Global Forecast to 2022
LONDON, Nov. 6, 2017 /PRNewswire/ -- "Global behavioral health software market projected to grow at a CAGR of 14.8%"
The behavioral 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%. 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 are driving the growth of the market. On the other hand, market growth may be limited to a certain extent due to data privacy concerns and a shortage of IT personnel.
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"Subscription models are expected to register the highest CAGR during the forecast period"
Based on delivery model, the behavioral health software market is segmented into ownership models and subscription models. The subscription models segment is expected to register the highest CAGR during the forecast period. A large number behavioral healthcare organizations are opting for subscription-based models due to their cost-effectiveness, interoperability, and flexibility.
"Patients segment is expected to dominate the market during the forecast period"
Based on the end user, the behavioral health software market is segmented into providers, payers, and patients. The patients segment is expected to register the highest CAGR during the forecast period. The large number of patients using behavioral health solutions in their homes or offices for better self-care is the key factor driving the growth of the behavioral health software market for the patients segment.
"Europe to witness high growth during the forecast period"
In 2017, North America is expected to account for the largest share of the market followed by Europe. However, 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.
The primary interviews conducted for this report can be categorized as follows:
• By Company Type: Tier 1 – 24%; Tier 2 - 45%; Tier 3 - 31%.
• By Designation: C-level - 22%; D-level - 28%; Others - 50%.
• By Region: North America - 48%; Europe - 21%; Asia - 26%; RoW - 5%.
List of companies profiled in the report
• Cerner (US)
• Netsmart (US)
• Qualifacts (US)
• Valant (US)
• Mindlinc (US)
• Welligent (US)
• Core Solutions (US)
• The Echo Group (US)
• Credible Behavioral Health (US)
• Nextgen Healthcare (US)
• Advanced Data Systems (US)
• Meditab Software (US)
• AdvancedMD (US)
• Compulink (US)
• Kareo (US)
Research Coverage:
The report provides an overview of the behavioral health software market. It aims at estimating the market size and future growth potential of this market across different segments such as component, delivery model, functionality, end user, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them with the closest approximations of revenues for the overall behavioral health software market and its subsegments. This report will help stakeholders to understand the competitive landscape better and gain insights to position their businesses and help companies make suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provide them with information regarding key market drivers and opportunities.
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