Global Mental Health Care Software and Services Market - Industry Trends and Forecast to 2029

Global Mental Health Care Software and Services Market, By Component (Software, Support Services), Delivery Mode (Ownership, Subscription), Function (Clinical, Administrative, Financial), End- User (Providers, Payers, Patients)– Industry Trends and Forecast to 2029

Market Analysis and Size

Mental health software solutions are tailored to meet the needs of the mental health and behavioural health industries. These platforms fill the gap between general or standalone healthcare solutions that may not be able to provide all of a practice's needs. Mental health software allows doctors to create treatment plans for individuals suffering from anxiety, addiction, stress, and anxiety. Physicians, therapists, and other users can use mental health software to streamline patient-facing and front-office procedures. Mental health is widely recognised as a critical component of overall health, and it is becoming a global priority.

Data Bridge Market Research analyses that the mental health care software and services market which was USD 2.9 billion in 2021, would rocket up to USD 5.40 billion by 2029, and is expected to undergo a CAGR of 8.09% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

Mental health problems are defined by the absence of a pleasant emotion, a bad mood, and a variety of concomitant cognitive, physical, emotional, and behavioural symptoms. It is a relatively common disease that affects one in every five persons. Genes, stress, and brain chemistry are all factors that contribute to depression. In 2020, the World Health Organization estimates that more than 264 million people of all ages will be depressed. Depression is a key cause of disability worldwide, and it contributes significantly to the global illness burden.

Mental Health Care Software and Services Market Dynamics

Drivers

• Rise in health reforms

The market will rise as people become more aware of how to deal with substance abuse. Other reasons such as favourable reimbursement policies, rising stress levels around the world, enhanced health reforms, and expanding government attempts to improve software usage are predicted to boost the mental health care software and services market from 2022 to 2029.

• Government initiatives

Government funding, rising mental health software adoption, favourable behavioural health reforms in the United States, government initiatives to promote EHR adoption in psychiatry hospitals and facilities, and high demand for mental health services despite provider shortages are all major factors driving market growth.

• Adoption of software

Healthcare providers' usage of management software is expected to improve the treatment of mental health concerns. Adoption of integrated EHRs can also assist behavioural health practises manage their practises more effectively and save money. Telemental health is using video conferencing to communicate with patients in different locations. The real-time monitoring technology makes it easier for patients and caregivers to communicate by removing barriers like information sharing and confidentiality, which are common in substance misuse settings. Integrating new technologies with well-established therapy modalities improves the effectiveness and efficiency of care.

Opportunities

Artificial intelligence has aided in the diagnosis of numerous diseases and has fueled healthcare research and development. Flinders University, which has created a novel AI programme that shows promise in enabling immediate intervention ahead of relapse in patients with severe mental illness, offers a comparable example of AI in mental disease. Such advancements will transform mental health treatment in a variety of ways, as well as providing support outside of hospitals. In the near future, AI implementation will totally redefine the scope of mental health software.

Restraints/Challenges

In the foreseeable term, a scarcity of experienced therapists, a lack of knowledge about mental health issues, and rising data privacy concerns are projected to stymie market expansion. The rising cost of mental health services and substance misuse, on the other hand, is predicted to stifle market expansion.

This mental health care software and services market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the mental health care software and services market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Covid-19 impact on Mental Health Care Software and Services Market

The epidemic boosted demand for mental health apps by a factor of ten. According to ORCHA, the use of such apps in the United Kingdom surged by 200 percent between summer 2019 and summer 2020. The use of telehealth has been aided by positive changes in reimbursement regulations for telemedicine. The CMS, for example, made temporary changes to how children enrolled in the Children's Health Insurance Program (CHIP), Medicaid, or Medicare can get telehealth care.

Global Mental Health Care Software and Services Market Scope

The mental health care software and services market is segmented on the basis of product type, delivery mode, function, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Service
• Support Software

Delivery Mode

• Ownership
• Subscription

Function

• Clinical
• Administrative
• Financial

End-User

• Providers
• Payers
• Patients

Application

• Hospitals
• Clinics
• Others

Mental Health Care Software and Services Market Regional Analysis/Insights

The mental health care software and services market is analysed and market size insights and trends are provided by country, product type, delivery mode, function, application and end-user as referenced above.

The countries covered in the mental health care software and services market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominating the mental health care software and services market in the forecast period of 2022 to 2029.

Asia-Pacific is expected to hold the largest CAGR for the market due to growing aging population and addition of new behavioural health integration codes in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Mental Health Care Software and Services Market Share Analysis

The mental health care software and services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to mental health care software and services market.

Some of the major players operating in the mental health care software and services market are:

• Cerner Corporation (US)
• Advanced Data Systems (US)
• AdvancedMD, Inc. (US)
• Core Solutions, Inc. (US)
• Credible (US)
• ICANotes (US)
• InSync (US)
• iSalus (US)
• Kareo Inc. (US)
• Meditab Software (US)
• Mentegram, Inc. (US)
• Mindlinc (US)
• Netsmart Technologies, Inc. (US)
• NXGN Management, LLC. (US)
• NextStep Solutions (US)
• Nuesoft Technologies (US)
• Qualifacts Systems, Inc. (US)
• Raintree Systems (US)
• Sigmund Software (US)
• The Echo Group (US)
• TheraNest (US)