Mental Health Software Market – Detailed Analysis of Current Industry Figures with Forecasts Growth
Mental health software enables behavioral health professionals to choose the best treatment plan for a person suffering from stress, anxiety, depression, addiction etc., based on clinical evidences and patient records. These software also allows users to schedule online appointments and facilitate medical bill payment via mobile devices such as laptops and smartphones.
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The global mental health software market was valued at US$ 1,971.5 Mn in 2014. North America was the largest market for mental health software, accounting for over 45% revenue share of the overall market in 2014, followed by Europe with around 27% share. Moreover, Asia Pacific market is expected to exhibit highest CAGR of 16.7% during the forecast period (2015–2021), followed by the MEA market, which is expected to expand at a CAGR of 15.3%. Drivers such as increasing per capita healthcare spending, increasing aging population, government digital initiatives, and proliferation of wearable and mobile devices is expected to support growth of the mental health software market.
The global mental health software market is estimated to be valued at US$ 2,203.0 Mn by the end of 2015. The market is expected to account for US$ 4,509.6 Mn by the end of 2021, expanding at a CAGR of 12.7% between 2015 and 2021.
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By deployment mode, the on-premise segment accounted for around 89% of overall market value in 2014.
By mode of access, tablets / smartphone segment was valued at US$ 338.8 Mn in 2014 and is expected to increase at a CAGR of 21.5% over the forecast period to account for US$ 1,285.5 Mn by 2021.
By function, business was the largest segment, valued at US$ 637.1 Mn and accounting for approximately 32% share in 2014. Clinical decision support segment was the second-largest segment by function, accounting for around 21% revenue share of the market the same year.
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Key players in the global mental health software market are Cerner Corporation, Qualifacts Systems Inc., MindLinc, Core Solutions Inc., Netsmart technologies Inc., Epic Systems Corporation, Credible Behavioral Health Inc. (Credible), Nextgen Healthcare Information Systems LLC, Valant Medical Solutions Inc., and Welligent Inc.
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