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Behavioural/Mental Health Software Market worth $4.9 billion by 2026

Newsroom Editor by Newsroom Editor
November 7, 2022
in Press Releases
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(EMAILWIRE.COM, November 07, 2022 ) Global Growth Driving Factors:

The major factors driving the growth of behavioral health software market are 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. On the other hand, data privacy concerns and a shortage of HCIT personnel are expected to restrain the growth of this market.

Projected Surge in Revenue Generation:

The global behavioral health software market is expected to reach USD 4.9 billion by 2026 from USD 2.0 billion in 2021, at a CAGR of 19.6% during the forecast period.

The support services segment is expected to account for the largest share of the behavioral health software market, by components in 2021

Based on components, the behavioral health software market is segmented into software and support services. The support services segment is expected to account for the largest share of the behavioral health software market in 2021. The recurring requirement of support services (such as software upgrades and maintenance) is the major factor supporting its growth.

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Community clinics segment to grow at the highest CAGR in the behavioral health market during the forecast period

Based on end users, the behavioral health software market has been segmented into community clinics, hospitals, and private practices. In 2021, the community clinics segment is expected to account for the largest share. Growing government initiatives to support these facilities and growing patient preference for community clinics are likely to drive behavioral health software adoption in this segment.

Geographical Growth Dynamics:

North America to dominate the behavioral health software market

On the basis of region, the behavioral health software market has been segmented into four major regions, namely, North America, Europe, the Asia Pacific and rest of the world. In 2021, North America is expected to dominate the market followed by Europe. The large share of this geographical segment is attributed to factors such as the growing number of people requiring behavioral health services, behavioral health reforms in the US, and government funding for behavioral health services in the region.

Global Leading Players:

Major players operating in the behavioral health software market include Advanced Data Systems (US), AdvancedMD (US), Cerner (US), Compulink (US), Core Solutions (US), Credible Behavioral Health (US), Kareo (US), Meditab Software (US), Mindlinc (US), Netsmart (US), Nextgen Healthcare (US, Qualifacts (US), The Echo Group (US), Valant (US), Welligent (US), Cure MD(US), Epic systems corporations (US), Accumedic (US), Mediware(US), Allscripts (US).

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Read More About the Related Topics:

Healthcare IT Market – Global Future Forecasts to 2026

Ambulatory EHR Market – Global Future Forecasts to 2027

eHealth Market – Global Future Forecasts to 2025

Digital Therapeutics Market – Global Future Forecasts to 2027

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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