06-14-2018 12:08 AM CET - Health & Medicine

Global Mental Health Software Market Estimated to Grow at a Significant Rate Throughout the Forecast Period: in Depth Assessment, Strategic Analysis, Developments, Technologies and Key Players

Press release from: Absolute Markets Insights
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Mental health software is used to record and manage mental, behavioral, addiction treatment & date of patients. The software is designed to help the social and community services, by serving patient care in management of behavioral health, medications, depression, substance abuse diagnostic assessments and other health managements. The typical mental health software manages the patient records, cases and treatments, general practice, medications, and administrations. The Global Mental Health Software Market, in terms of revenue, was valued at US$ 1348.1 Mn in 2017 and is expected to reach US$ 2586.4 Mn by 2022.

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Mental illness is one of the largest cause of disability in UK. It is anticipated that the economic cost of mental illness could be reduced by greater focus on mental health prevention and promotion, coupled with early diagnostics and interventions. Moreover, increasing use of technology enabled care has implications for healthcare providers. For instance, care provided via using digital communications such as, e-visits, remote monitoring and e-prescriptions. Hence the areas of high unmet need that traditional approaches have struggled to address such as mental health will be tremendously promoted with the improving digitalization

The number of mental health apps has increased in past few years as the digital technology can support new ways of working with people at risk of suffering from mental health problems. Difficulty in integration and other technical challenges in software implementation are hampering the market growth. Moreover, growing emphasis on subscription model and potential for mental health software in emerging market is anticipated to offer lucrative growth opportunities to the global mental health software market during the forecast period.

Some of the primary players of global mental health software market are Cerner Corporation, Netsmart Technologies Inc., Core Solutions, Inc., The Echo Group, Valant Medical Solutions Inc., Welligent, Inc., Qualifacts Systems, Inc., Credible Wireless, Inc., Meditab Software, Inc., Kareo, Inc., Compulink, Advanced Data Systems, MindLinc (Holmusk) and Nextgen healthcare amongst others.

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Increasing Adoption of Mental Health Software is anticipated to Drive the Market in North America

North America is estimated to capture the largest market share in mental health software market. This region is mainly driven by the factors such as increasing government support to widen behavioral health science, behavioral health reforms and increasing number of patients opting for behavioral health sciences. Moreover, increase in adoption of behavioral health issues, rise in number of patients with the mental disorders and high awareness among the people are expected to drive the North America market in coming years.

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