Behavioural Healthcare Software Market Was Valued at USD 2,153.8 Million in 2021 Owing to Increased Prevalence of Eco-Friendly Products

According to Precision Business Insights (PBI) latest report, the global behavioral healthcare software market is expected to be worth USD 2,342.6 Million in 2022, growing at an 11.7% CAGR from 2022 to 2028. The global behavioral healthcare software market is segmented into the following types: By Function (Clinical Functionality, Administrative Functionality, and Financial Functionality), By Solution (Software and Services), By End User (Community Clinics, Hospitals, Private Practices, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) Forecast to 2028. Key player's profiles in the behavioural healthcare software market report are Cerner Corporation, Accumedic Computer Systems, Inc., BestNotes, Credible Behavioural Health Software, Welligent, NXGN Management, LLC., Advanced Data Systems, AdvancedMD, Inc. The focus of healthcare providers on delivery of healthcare, behavioral health modifications, increased government support for the enhancement of healthcare services, new products and service launches, and collaborations among market players are rapidly propelling the overall market's growth. Because of the rising prevalence of mental disorders worldwide, there is a growing demand for EHR designed specifically for mental health. A specialty-specific EHR benefits both medical staff and patients involved in behavioral/mental health management. Specialty healthcare providers, such as mental health and behavioral health providers, have begun to demand electronic health records (EHR) tailored to their specific needs over time. In a few cases involving medical EHRs, robust and well-designed modules are used to focus on their specialty.

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Electronic Health Record Segment Dominates the Behavioural Healthcare Software Market:
The electronic health record segment accounted for x% of the market and is expected to grow at a CAGR of x% over the forecast years (2022-2028). Due to the rising prevalence of mental diseases worldwide, there is a growing demand for EHR designed exclusively for mental health. The medical professionals and patients involved in behavioral/mental health treatment benefit from a specialty-specific EHR. Specialty healthcare providers, such as mental health and behavioral health providers, have begun to demand electronic health records (EHR) tailored to their specific needs over time. In a few cases involving medical EHRs, robust and well-designed modules are used to focus on their specialty.

North America Leads Behavioural Healthcare Software Market:
The Behavioural Healthcare Software Market in North America is likely to hold the highest revenue share in 2021. The growing number of people in need of behavioral health services, behavioral health reforms in the United States, and government funding for behavioral health services in the region all contribute to the region's large share of this geographical segment. In addition, Europe is the fastest-growing market accounting due to expanding demand increase in access to behavioral health care, a rise in the incidence of behavioral disorders, and government initiatives for increasing awareness about behavioral health

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global behavioral healthcare software market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In February 2021, Netsmart acquired GPM, a North Carolina-based Software-as-a-Service technology and services company. This will help Netsmart's CareFabric platform to deliver interoperable data sharing between long-term care facilities and providers.

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Detailed Segmentation
Based on the Function, the market is segmented into the following:
• Clinical Functionality
• Administrative Functionality
• Financial Functionality

Based on the Solution, the market is segmented into the following:
• Software
• Services.

Based on the End-User, the market is segmented into the following:
• Community Clinics
• Hospitals
• Private Practices
• Other End Users

Based on the geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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