Market introduction and forecast
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. This software also allows users to schedule online appointments and facilitate medical bill payment via mobile devices such as laptops and smartphones. The global mental health software market was valued at US$ 3,190.00 Mn in 2016, and is expected to register a CAGR of 13.3% from 2017 to 2025. Increasing per capita healthcare spending and low-cost solutions through cloud-based services are major factors driving revenue growth of the global mental health software market.
Market segmentation and forecast
The market is categorized on the basis of end user and deployment type. On the basis of end user, the market is segmented as hospitals and clinics, residential, counselors and psychologist, group therapist and others. The counselors and psychologist segment is anticipated to register a CAGR of 19.2% during the forecast period. On the basis of deployment type, the market is segmented as SaaS and On-Premise. SaaS segment accounted for highest market share and was valued at US$ 2,791.25 Mn in 2016. Moreover, low-cost solutions through cloud-based services globally should contribute to the growth of the segment in the market. SaaS segment is expected to register a healthy CAGR of 13.9% during the forecast period.
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This report covers drivers, restraints and trends driving each segment and offers analysis and insights regarding the potential of mental health software market in regions including North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. Among these regions, North America held the largest market share in 2016 owing to a growing need for mental health software on account of innovative healthcare solutions and services. The Asia Pacific regional market is expected to register a healthy CAGR of 13.4% during the forecast period.
Key players operating in the global mental health software market
Key competitors in the global mental health software market include Cerner Corporation, MindLinc, Core Solutions Inc., Netsmart Technologies Inc., Epic Systems Corporation, Credible Behavioral Health Inc. (Credible), Nextgen Healthcare Information Systems LLC, Valant Medical Solutions Inc., Welligent Inc. and Qualifacts Systems Inc.