Rising at 14.6% CAGR, Mental Health Software Market Size to Register USD 3,957 Million By 2025, Covering COVID-19 Global Analysis: Facts & Factors
New York, NY, Feb. 23, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Mental Health Software Market By Component (Support Services and Software), By Delivery Model (Subscription Models and Ownership Models), By Functionality (Clinical Functionality, Administrative Functionality, and Financial Functionality), and By End-User (Providers, Patients, Community Clinics, Private Practices, Hospitals, and Payers): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2025” .
“According to the research study, the global Mental Health Software Market was estimated at USD 1,527 Million in 2018 and is expected to reach USD 3,957 Million by 2025. The Global Mental Health Software Market is expected to grow at a compound annual growth rate (CAGR) of 14.6% from 2019 to 2025”.
Mental health software assists the behavioral health service providers in selecting the best plan for treating an individual affected due to stress, depression, addiction, and anxiety. The plan is drafted or created based on the clinical data or information of the patient and the patient’s medical history record. Apparently, the software helps the users in scheduling appointments online and even enables them to pay medical bills via portable equipment like smartphones and laptops.
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- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 190+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
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Key Questions Answered in this Report
1) What was the impact of COVID-19 on the Mental Health Software Market?
2) What is the market size, share of the Mental Health Software Market?
3) Who are the top market players in Mental Health Software Market?
4) What will be the future market of the Mental Health Software Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Impact Analysis of COVID-19 Pandemic on Businesses: Know Short Term and Long Term Impact
Most of the businesses are facing a growing litany of business-critical concerns related to the coronavirus outbreak, including supply chain disruptions, a risk of a recession, and a potential drop in consumer spending. All these scenarios will play out differently across various regions and industries, making accurate and timely market research more essential than ever.
We at Facts and Factors ( http://www.fnfresearch.com ) understand how difficult it is for you to plan, strategize, or make business decisions, and as such, we have your back to support you in these uncertain times with our research insights. Our team of consultants, analysts, and experts has developed an analytical model tool for markets that helps us to assess the impact of the virus more effectively on the industrial markets. We are further implementing these insights into our reports for a better understanding of our clients.
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Rapid digitization witnessed in the healthcare sector to drive market growth
Breakthroughs in science & technology are bringing a paradigm shift in the healthcare industry, particularly in domains like digital imaging and enhanced digital software & sensors. This, in turn, is likely to help the market gain momentum over the forecast period. Moreover, growing digitization of healthcare activities including medical prescriptions, visits, and patient monitoring will enable the mental health software business to reach the scalable heights of growth over the forecast period.
Additionally, the burgeoning need for mental health solutions for curing a spectrum of mental disorders like schizophrenia, depression, and anxiety will further augment the market scope over the forecast period. High awareness about the mental ailments among both the youth and adult populace will trigger the growth of the market over 2019-2025. However, restrictions & seclusion can constraint business expansion over the forecast period. Apparently, lack of availability of skilled personnel, concerns about data protection, and less acceptance of software in emerging economies will further depreciate the market growth. Nonetheless, the introduction of the new mental health applications will help the market sketch a profitable roadmap over the forecast timeline.
Top Market Players:
- Advance Data Systems,
- Core Solutions,
- Nextgen Healthcare,
- The Echo Group,
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Support services to dominate the component segment by 2025
The growth of the support services segment over the forecast timeline is owing to the consistently rising demand for mental health software up-gradation & maintenance activities.
Patients segment to register highest CAGR over the forecast timeframe
The segment is set to record the highest growth rate of more than 15% during the period from 2019 to 2025. The growth of the segment over the forecast period owes to a bulge in the number of patients making use of mental health services in households & offices for the purpose of self-care.
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The study provides a decisive view of the Mental Health Software market by segmenting the market based on component, delivery model, functionality, end-user, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The burgeoning need for mental health solutions for curing a spectrum of mental disorders like schizophrenia, depression, and anxiety will further augment the market scope over the forecast period. High awareness about the mental ailments among both the youth and adult populace will trigger the growth of the market over 2019-2025. However, restrictions & seclusion can constraint business expansion over the forecast period. Apparently, lack of availability of skilled personnel, concerns about data protection, and less acceptance of software in emerging economies will further depreciate the market growth. Nonetheless, the introduction of the new mental health applications will help the market sketch a profitable roadmap over the forecast timeline.
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On the basis of the component, the market for mental health software is divided into Support Services and Software. Based on the delivery model, the industry is classified into Subscription Models and Ownership Models. In terms of functionality, the market is segmented into Clinical Functionality, Administrative Functionality, and Financial Functionality. Based on the end-user, the industry is segregated into Providers, Patients, Community Clinics, Private Practices, Hospitals, and Payers.
Also Read, Behavioral Health Market, 2020-2026 Market Report
North America to contribute a major market revenue share by 2025
The growth of the market in the North American region during the forecast period is credited to a prominent rise in the prevalence of mental ailments in the countries like the U.S. Moreover, countries like Canada and the U.S. are anticipated to be the key regional revenue pockets over the forecast period.
Browse the full “Mental Health Software Market By Component (Support Services and Software), By Delivery Model (Subscription Models and Ownership Models), By Functionality (Clinical Functionality, Administrative Functionality, and Financial Functionality), and By End-User (Providers, Patients, Community Clinics, Private Practices, Hospitals, and Payers): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2025” report at https://www.fnfresearch.com/mental-health-software-market-by-component-support-services-276
This report segments the Mental Health Software market as follows:
Global Mental Health Software Market: By Component Segment Analysis
- Support Services
- Integrated Software
- Standalone Software
Global Mental Health Software Market: By Delivery Model Segment Analysis
- Subscription Models
- Ownership Models
Global Mental Health Software Market: By Functionality Segment Analysis
- Clinical Functionality
- Electronic Health Records (EHR)
- Clinical Decision Support (CDS)
- Care Plans/Health Management
- Administrative Functionality
- Patient/Client Scheduling
- Document/Image Management
- Case Management
- Business Intelligence (BI)
- Workforce Management
- Financial Functionality
- Revenue Cycle Management
- Managed Care
- Accounts Payable/General Ledger
Global Mental Health Software Market: By End-User Segment Analysis
- Community Clinics
- Private Practices
Key Features of Mental Health Software Market Report:
- Mental Health Software Market structure: Overview, industry life cycle analysis, supply chain analysis
- Mental Health Software Market: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Mental Health Software Market Size, trend, and forecast analysis
- Mental Health Software Market segments’ trend and forecast
- Mental Health Software Market’s competitive landscapes: Market share, Product portfolio, new product launches, etc.
- Mental Health Software Market attractiveness and associated growth opportunities
- Emerging Trends in the Mental Health Software Market.
- Strategic growth opportunities for the existing and new players
- Key success factors
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