Overview
Mental health is the state of an individual working at a satisfactory level of emotional and behavioral adjustment. Mental health also refers to the complete absence of mental illness such as anxiety, depression, stress, and addition. Mental health software is developed to efficiently manage mental health, behavioral health or addiction treatment. The software is used to manage, record, and maintain digital cases, general practice, medication, and administration of a patient. This software also allows users to schedule online appointments and facilitate medical bill payment via mobile devices such as laptops and smartphones. Moreover, it can retrieve radiology, pharmacy, and laboratory data of the patient that is being treated.
The global Mental Health Software Market was accounted for US$ 3,539.2 Mn in terms of value in 2019 and is expected to grow at CAGR of 12.7% for the period 2019-2027
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Market Driver
Increasing per capita expenditure on healthcare is expected to drive growth of the global mental health software market during the forecast period
Increasing per capital expenditure on healthcare and associated facilities is boost the demand for mental healthcare solutions and services. Various government and healthcare organizations such as clinics and hospitals are increasing investments in the deployment of new and updated IT infrastructure, in order to gain a competitive advantage in the market. This, in turn, is expected to drive the global mental health software market growth over the forecast period. According to the World Bank Group, per capita, healthcare expenditure in the U.S. increased from US$ 8,845 in 2012 to US$ 9,146 in 2013. According to the same source, in France and the U.K., per capita, healthcare expenditure was US$ 4,644 and US$ 3,595 respectively in 2012, which increased to US$ 4,864 and US$ 3,598 respectively in 2013. Furthermore, in Germany, per capita, healthcare expenditure was US$ 4,717 in 2012 and increased to US$ 5,006 in 2013.
Market Opportunity
Growing focus on subscription-based models can provide excellent growth opportunities in the near future
Many players in the market are focused on providing subscription-based models, especially in emerging economies. This is done to expand the consumer base and gain a major advantage in the highly competitive market. Providing a subscription-based model to clinicians can attract more consumers and offers greater revenue than through-up and cross-selling. Moreover, recurring billing offers predictable revenue. Key companies can lay emphasis on subscription-based models, in order to enhance their market presence.
Market Restraint
Dearth of skilled IT personnel is expected to hinder the global mental health software market growth over the forecast period
Lack of skilled IT personnel, especially in emerging economies such as Brazil, China, India, and South Africa is the major factor hampering adoption of mental health software. The mental health software requires timely upgradation, in order to function properly, which is not fulfilled in the aforementioned countries. Furthermore, low awareness regarding benefits of mental health software among clinicians is expected to hinder the global mental health software market growth in the near future.
Market Trends
Major shift from desktop tools to mobile applications
Mental health software providers are laying emphasis on providing healthcare mobile applications, in order to allow healthcare professionals and other users such as patients get access to their health records and other related information regardless of their location via smartphones or mobile phones or tablets. These mobile applications are compatible with most mobile operating systems such as iOS and Android OS. For instance, in June 2015, the Centre for Addiction and Mental Health (CAMH) introduced a mobile application that helps users quit or reduce consumption of alcoholic drinks. Furthermore, in September 2014, Coast Capital Savings and Victoria Hospitals Foundation launched BoosterBuddy, a mental health mobile application, especially for youths experiencing anxiety, depression or psychosis
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Increasing research and development activities among key players
Key players operating in the global mental health software market are focused on research and development activities, in order to introduce technologically advanced patient care solutions. For instance, in 2013, Foothold Technology, a provider of EHR solutions for behavioral health and human services, partnered with InterSystems Corporation, a connected care software provider, to support interoperability with regional human service agencies and health information exchanges. Furthermore, in September 2015, Cerner Corporation and Glens Falls Hospital entered into strategic alignment, in order to integrate the health system of Glens Falls Hospital on the Cerner’s EHR platform. According to this agreement, the company’s product Millennium EHR would be integrated with Glen Falls Hospital’s ambulatory facilities and clinical processes system.
North America Trends
According to Coherent Market Insights, North America is expected to hold a dominant position in the global mental health software market during the forecast period. This is owing to advancements in digital technology and government initiatives, and plans regarding adopt digital transformation in the healthcare sector. Healthcare organizations such as clinics and hospitals in the U.S. and Canada are focused on adopting remote patient monitoring solutions (Telehealth), healthcare information systems, clinical decision support solutions, and other cloud-based solutions, in order to fulfill increasing demand for real-time healthcare services from residential users.
Europe
Electronic Health Records Act (EHR-Act), 2012
“In December 2012 Austria introduced an Electronic Health Records Act (EHR-Act). These provisions are the legal foundation for a national EHR system based upon a substantial public interest according to Article 8(4) of the Data Protection Directive 95/46/EC. The Austrian EHR-Act pursues an opt-out approach in order to harmonize the interests of public health and privacy issues. Tests are being carried out in the country and the system would be fully rolled out by 2017. The implementation of the new EHR system has followed a number of other tests and pilot projects. For example, the results of an independent scientific evaluation of the “e-Medikation pilot project”, which was carried out under Austria’s electronic health records project – ELGA (Elektronische Gesundheitsakte), were presented in May 2012. The aim of the e-Medikation pilot was to provide support to physicians regarding the electronic prescription of medication in a way that it would help in contributing to patients’ safety.”
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Competitive Section
Key players operating in the global mental health software market are Welligent Inc., Netsmart Technologies Inc., Cerner Corporation, Valant Medical Solutions Inc., Qualifacts Systems Inc., Nextgen Healthcare Information Systems LLC, MindLinc, Credible Behavioral Health Inc. (Credible), Core Solutions Inc., and Epic Systems Corporation.
Key Developments
Major market players are involved in partnerships and collaborations, in order to enhance the market presence. For instance, in December 2019, Qualifacts Systems Inc., a provider of electronic health records (EHR), partnered with Violence Intervention Protection (VIP), a U.S.-based community mental health center, to deliver EHR services.
Key companies in the market are focused on mergers and acquisitions, in order to gain competitive edge in the market. For instance, in October 2019, Healthcare Information Systems LLC, a U.S.-based healthcare service provider, acquired Topaz Information LLC, a behavioral health and social service provider.
Reasons to Purchase this Report
• To gain an in-depth understanding of Mental Health Software market globally
• To identify the on-going trends and anticipated growth in the next nine years
• To help industry consultants, Mental Health Software market other stakeholders align their market-centric strategies
• To obtain research-based business decisions and add weight to presentations and marketing strategies
• To gain competitive knowledge of leading market players
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Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, BY Deployment Mode
- Market Snippet, By Mode of Access
- Market Snippet, By Function
- Market Snippet, By Application
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Merger and Acquisitions
- New system Launch/Approvals
- Market Dynamics
- Global Mental Health Software Market, BY Deployment Mode, 2017-2027 (US$ Million)
- Introduction
- Market Share Analysis, 2017 and 2027 (%)
- Segment Trends
- On-premise
- Introduction
- Market Size and Forecast, 2019–2027, (US$ Million)
- Subscription (Cloud-based)
- Introduction
- Market Size and Forecast, 2019–2027, (US$ Million)
- Introduction
- Global Mental Health Software Market, By Mode of Access , 2017-2027 (US$ Million)
- Introduction
- Market Share Analysis, 2017 and 2027 (%)
- Segment Trends
- Desktops/ Laptops
- Introduction
- Market Size and Forecast, 2019–2027, (US$ Million)
- Tablets/ Smartphones
- Introduction
- Market Size and Forecast, 2019–2027, (US$ Million)
- Introduction
- Global Mental Health Software Market, By Function, 2017-2027 (US$ Million)
- Introduction
- Market Share Analysis, 2017 and 2027 (%)
- Segment Trends
- Telehealth
- Introduction
- Market Size and Forecast, 2019–2027, (US$ Million)
- Payroll
- Introduction
- Market Size and Forecast, 2019–2027, (US$ Million)
- Revenue Cycle Management (RCM)
- Introduction
- Market Size and Forecast, 2019–2027, (US$ Million)
- Ledger
- Introduction
- Market Size and Forecast, 2019–2027, (US$ Million)
- Business Intelligence
- Introduction
- Market Size and Forecast, 2019–2027, (US$ Million)
- Electronic Health Record (EHR)
- Introduction
- Market Size and Forecast, 2019–2027, (US$ Million)
- Clinical Decision Support
- Introduction
- Market Size and Forecast, 2019–2027, (US$ Million)
- Introduction
- Global Mental Health Software Market, By Application, 2017-2027 (US$ Million)
- Introduction
- Market Share Analysis, 2017 and 2027 (%)
- Segment Trends
- Commercial
- Introduction
- Market Size and Forecast, 2019–2027, (US$ Million)
- Hospitals and Clinics
- Others
- Psychiatrists
- Social Workers
- Psychologists
- Counsellors
- Nurse Practitioners
- Group Therapists
- Residential
- Introduction
- Market Size and Forecast, 2019–2027, (US$ Million)
- Introduction
- Global Mental Health Software Market, By Region, 2017-2027 (US$ Million)
- Introduction
- Market Share Analysis, By Region, 2017 and 2027 (%)
- North America
- Regional Trends
- Market Size and Forecast, Deployment Mode, 2019–2027(US$ Million)
- Market Size and Forecast, By Mode of Access , 2019–2027 (US$ Million)
- Market Size and Forecast, By Function, 2019–2027 (US$ Million)
- Market Size and Forecast, By Application, 2019–2027 (US$ Million)
- Market Share Analysis, By Country, 2019 and 2027 (%)
- U.S.
- Canada
- Europe
- Regional Trends
- Market Size and Forecast, Deployment Mode, 2019–2027(US$ Million)
- Market Size and Forecast, By Mode of Access , 2019–2027 (US$ Million)
- Market Size and Forecast, By Function, 2019–2027 (US$ Million)
- Market Size and Forecast, By Application, 2019–2027 (US$ Million)
- Market Share Analysis, By Country, 2019 and 2027 (%)
- U.K.
- Germany
- Italy
- France
- Russia
- Rest of Europe
- Asia Pacific
- Regional Trends
- Market Size and Forecast, Deployment Mode, 2019–2027(US$ Million)
- Market Size and Forecast, By Mode of Access , 2019–2027 (US$ Million)
- Market Size and Forecast, By Function, 2019–2027 (US$ Million)
- Market Size and Forecast, By Application, 2019–2027 (US$ Million)
- Market Share Analysis, By Country, 2019 and 2027 (%)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Regional Trends
- Market Size and Forecast, Deployment Mode, 2019–2027(US$ Million)
- Market Size and Forecast, By Mode of Access , 2019–2027 (US$ Million)
- Market Size and Forecast, By Function, 2019–2027 (US$ Million)
- Market Size and Forecast, By Application, 2019–2027 (US$ Million)
- Market Share Analysis, By Country, 2019 and 2027 (%)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East and Africa
- Regional Trends
- Market Size and Forecast, Deployment Mode, 2019–2027(US$ Million)
- Market Size and Forecast, By Mode of Access , 2019–2027 (US$ Million)
- Market Size and Forecast, By Function, 2019–2027 (US$ Million)
- Market Size and Forecast, By Application, 2019–2027 (US$ Million)
- Market Share Analysis, By Country, 2019 and 2027 (%)
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
- Introduction
- Competitive Landscape
- Company Profiles
- Cerner Corporation
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Core Solutions Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Credible Behavioral Health Inc. (Credible)
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Epic Systems Corporation.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- MindLinc
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Netsmart Technologies Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Nextgen Healthcare Information Systems LLC
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Qualifacts Systems Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Valant Medical Solutions Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Welligent Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Cerner Corporation
- Company Profiles
- Section
- References
- Research Methodology
- About us and Sales Contact
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having an office at global financial capital in the U.S. and sales consultants in the United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies to not-for-profit organizations, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.
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