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Behavioral and Mental Health Software Market 2024-2033 : Market Size, Top Segments, Leading Region Forecast
Behavioral and Mental Health Software Market Size
As per the report, the behavioral and mental health software market size has grown rapidly in recent years. It will grow from $4.69 billion in 2023 to $5.57 billion in 2024 at a compound annual growth rate (CAGR) of 18.6%. The behavioral and mental health software market size is expected to see rapid growth in the next few years. It will grow to $10.68 billion in 2028 at a compound annual growth rate (CAGR) of 17.7%.
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Surge In Mental Illness Spurs Growth In The Behavioral And Mental Health Software Market
The increasing mental illness is expected to propel the demand for the behavioral and mental health software market going forward. A mental illness is a disorder that impacts the way a person thinks, feels, behaves, or believes. These illnesses occur due to distress or difficulties functioning in social, job, or family activities. Behavioral and mental health software establishes new ways of thinking by drawing attention to wrong and right assumptions and modifying erroneous perceptions. For instance, in November 2022, according to a survey published by the National Health Service, a UK-based government-funded healthcare system, approximately 18.0% of children between the ages of 7 and 16, and 22.0% of young individuals aged 17 to 24, were identified with a potential mental disorder in 2022. Among young people aged 17 to 19, the prevalence of a probable mental disorder rose from 17.4% in 2021 to 25.7% in 2022. The surveyed population comprises 2,866 children and young individuals. Therefore, increasing mental illness will drive the behavioral and mental health software market.
Advancements In Ai Technology Propel The Behavioral And Mental Health Software Market
The development of technologies is a key trend gaining popularity in the behavioral and mental health software market. Major companies operating in the behavioral and mental health software sector are focused on the development of AI-based technologies to sustain their position. For instance, in August 2021, Healmed Solutions, a US-based company engaged in mental health tech, in collaboration with Panacea Bioedge, and Panacea infosec, an India-based cybersecurity company, launched an AI-based online mental health platform in India. This AI-based platform provides a variety of mental health evaluation tools for businesses, corporations, and healthcare organizations. The platform allows psychiatrists to evaluate measured, recognised, and color-coded symptoms through a dashboard, that assist them with making mature medical decisions. It also has a digital assistant that communicates with patients discretely.
The behavioral and mental health software market covered in this report is segmented -
1) By Component: Support Services, Software
2) By Type: Clinical Software, Financial Software, Administrative Software, Other Types
3) By Delivery Model: Subscription Model, Ownership Model
4) By End-Users: Community Clinics, Hospitals, Private Practices
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Major companies operating in the behavioral and mental health software market report are Accumedic Computer Systems Inc., Advanced Data Systems Corporation, AdvancedMD Inc., Netsmart Technologies Inc., Compulink Healthcare Solutions Inc., Core Solutions Inc., Credible Behavioral Health Inc., Kareo Inc., Meditab Software Inc., The Echo Group Inc., Qualifacts LLC, Practice Fusion Inc., eClinicalWorks LLC, BestNotes LLC, TherapyNotes LLC, Ontrak Inc., Oracle Corporation, Planet DDS Inc., Valant Medical Solutions Inc., Holmusk Inc., Cure MD LLC, Epic Systems Corporation, Mediware Information Systems Inc., Allscripts Healthcare Solutions Inc., SimplePractice LLC, TheraNest LLC, Teladoc Health Inc., NXGN Management LLC, Qualifacts Systems Inc., Mindlinc Inc.
Contents of the report:
1. Executive Summary
2. Behavioral and Mental Health Software Market Report Structure
3. Behavioral and Mental Health Software Market Trends And Strategies
4. Behavioral and Mental Health Software Market - Macro Economic Scenario
5. Behavioral and Mental Health Software Market Size And Growth
…..
27. Behavioral and Mental Health Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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