Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Insight- Global Mental Health Software Market

Market Overview

Mental health refers to the level of psychological comfort and well-being or absence of mental illness. In layman’s terms, it is the state of someone who is functioning at a satisfactory level of emotional and behavioral adjustment. Mental health software is a specialty software that allows behavioral health professionals to choose the best treatment plan for a person suffering from depression, stress, addiction, anxiety, etc. based on patient records and medical evidence. The software enables users to schedule online appointments and provides medical bill payments via mobile devices namely smartphones or laptops. Moreover, it can retrieve pharmacy, laboratory, and radiology data observations on the patients that are being treated. It also offers a detailed report focusing on the individual patient’s needs.

The global Mental Health Software Market was accounted for US$ 3,539.2 Mn in terms of value in 2019 and is expected to grow at CAGR of 12.7% for the period 2019-2027

Market Dynamics- Drivers

  1. Availability of innovative healthcare solutions and services is expected to drive growth of the global mental health software market during the forecast period

Mental healthcare solutions and services are focused on investing in research and development activities, in order to provide customer-centric solutions. Moreover, growing competition is influencing companies to launch innovative offerings and upgrade the existing ones, in order to expand product portfolio. For instance, in 2014, Core Solutions Inc. launched the Cx360 mobile behavioral health EHR application. This mobile application provides single sign-on access to clinic and client demographics. This app allows the user to create and review contacts, appointments, treatment plants and diagnosis, among others

  1. Growing geriatric population worldwide is expected to propel the global mental health software market growth over the forecast period

Growing geriatric population coupled with increasing incidence of chronic diseases is expected to boost the demand for eHealth solutions to monitor patients located at remote locations. This, in turn, is expected to increase adoption of digital technologies by healthcare organizations and thereby boost growth of the global mental health software market growth in the near future.

North America region dominated the global Mental Health Software Market in 2019, accounting for 42.8%% share in terms of value, followed by Europe, Asia Pacific, Latin America and Middle East and Africa respectively.

Mental Health Software  | Coherent Market Insights

Source: Coherent Market Insights

Market Dynamics- Restraints

  1. Challenges regarding data security, privacy and protection issues are expected to hamper the global mental health software market growth over the forecast period

Major uncertainty regarding privacy, data security, and protection of devices are inhibiting the complete digitization of healthcare services across the globe. For instance, in 2013, cybercrime accounted for losses of US$ 8 Bn in Brazil, followed by US$ 3 Bn in Mexico, and US$ 0.5 Bn in Colombia. Increasing cyber-attacks in terms of number and intricacy are expected to hamper the global mental health software market growth over the forecast period. According to the Ponemon Institute, cyber-attacks against the healthcare sector in North America account for losses of around US$ 6 Bn per year.

  1. Low awareness regarding benefits of this software is expected to restrain growth of the global mental health software market over the forecast period

Lack of awareness about the benefits of digital mental healthcare software and poor IT infrastructure in emerging regions such as APEJ, MEA, and Latin America are hindering growth of the global mental health software market. In the aforementioned regions, majority of healthcare organizations still predominantly provide conventional mental healthcare services.

Market Opportunities

  1. High potential for growth of mental health software market in emerging economies

One of the biggest obstacles in growth of the global mental health software market is low awareness and lack of investments for mental health problems. Key companies can focus on emerging economies such as India, Brazil, and South Africa by providing free counseling and interactive sessions on mental health problems. Moreover, key players can lay emphasis on providing sample versions of mental health software to clinicians, in order to increase awareness regarding benefits of the same. These activities can offer excellent growth opportunities in the near future.

  1. Increasing emphasis on telehealth as a means of providing care services can provide major business opportunities

Telehealth is a distribution of health-associated services and information via electronic information and telecommunication technologies. Telehealth enables clinicians to connect with the long-distance patients and provide care, advice, reminders, intervention, education, and monitoring to patients. Telehealth is an excellent option to provide mental health solutions and services with help of mental health software. Furthermore, it reduces additional costs that might incur, making it beneficial for patient as well as clinicians.

Mental Health Software  | Coherent Market Insights

Source: Coherent Market Insights

Market Trends

  1. Increasing merger and acquisition activities among key market players

Key players in the global mental health software market are focused on mergers and acquisitions, in order to enhance their technological capabilities and gain a competitive edge in the market. For instance, in 2015, Quality System Inc. (QSI) acquired Gennius Inc., a leading provider of healthcare analytics, in order to enhance its analytics competencies by expanding its business intelligence capabilities. Furthermore, in September 2015, Cerner Corporation acquired Siemens AG's health Information technology in order to expand its client base and increase its presence in the global market. The acquisition was valued at US$ 1.37 Bn. This trend is expected to continue during the forecast period.

  1. Growing adoption of cloud-based services is another major trend in the market

Increasing adoption of cloud-based services and solutions in the healthcare industry is the latest trend in the market. A vast number of service providers are offering cloud-based services that host clinical application and data, health information exchange, data backup, and disaster recovery. For instance, in October 2013, Salisbury Behavioral Health deployed Evolve IP, LLC’s cloud-based unified communications / IP phone system and network services. In September 2015, Central Virginia Health Services deployed eClinicalWorks’ cloud-based electronic health record (EHR). Furthermore, cloud-based solutions are relatively cost-effective as compared to on premise software solutions. Major market players are expected to capitalize on this trend by introducing cloud-based mental health solutions and services, in order to expand their consumer base.

Latin America

Data breach is the primary concern associated with the usage of various digital formats. Medical information such as electronic patient health records can be potentially accessed by cybercriminals. In order to secure sensitive healthcare information from unauthorized users, the Brazilian government implemented internally accredited cybersecurity framework in domestic cyberinfrastructure in 2008. This was implemented through three different security-oriented instruments namely Normative Instruction GSI no 1/2008, 2/2008, and 3/2008. These instruments manage information and communication security, accredits classified information, and define minimum benchmark standards, respectively. Furthermore, these instruments are under the purview of Federal Public Administration and Federal Executive Brand.

Segment information:

In global Mental Health Software Market, by mode, On-premise sub-segment dominated the global market in 2019, accounting for 84.0% share in terms of value, followed by Subscription (Cloud-based) sub-segment.

Mental Health Software  | Coherent Market Insights

Competitive Section

Key players operating in the global mental health software market are Welligent Inc., Netsmart Technologies Inc., Cerner Corporation, Valant Medical Solutions Inc., Qualifacts Systems Inc., Nextgen Healthcare Information Systems LLC, MindLinc, Credible Behavioral Health Inc. (Credible), Core Solutions Inc., and Epic Systems Corporation.

Key Developments

  1. Key players in the market are focused on mergers and acquisitions, in order to enhance the market presence. For instance, in February 2018, Netsmart Technologies Inc. acquired HomeCare Accounting Solutions (HAS), a cloud-based software company that automates clinical field operations of home care agencies.
  2. Major market players are involved in partnerships and collaborations, in order to gain a competitive advantage in the market. For instance, in May 2018, Valant Medical Solutions Inc. partnered with Gemspring, a middle-market private equity firm accelerate growth of the organization in the field of mental health.

Mental health refers to the level of psychological comfort and well-being or absence of mental illness. In layman’s terms, it is the state of someone who is functioning at a satisfactory level of emotional and behavioral adjustment. Mental health software is a specialty software that allows behavioral health professionals to choose the best treatment plan for a person suffering from depression, stress, addiction, anxiety, etc. based on patient records and medical evidence. The software enables users to schedule online appointments and provides medical bill payments via mobile devices namely smartphones or laptops. Moreover, it can retrieve pharmacy, laboratory, and radiology data observations on the patients that are being treated. It also offers a detailed report focusing on the individual patient’s needs.

Market Dynamics

Increasing per capital expenditure on healthcare and associated facilities is boost the demand for mental healthcare solutions and services. Various government and healthcare organizations such as clinics and hospitals are increasing investments in the deployment of new and updated IT infrastructure, in order to gain a competitive advantage in the market. This, in turn, is expected to drive the global mental health software market growth over the forecast period. According to the World Bank Group, per capita, healthcare expenditure in the U.S. increased from US$ 8,845 in 2012 to US$ 9,146 in 2013.  According to the same source, in France and the U.K., per capita, healthcare expenditure was US$ 4,644 and US$ 3,595 respectively in 2012, which increased to US$ 4,864 and US$ 3,598 respectively in 2013. Furthermore, in Germany, per capita, healthcare expenditure was US$ 4,717 in 2012 and increased to US$ 5,006 in 2013.

Market Taxonomy

This report segments the Global Mental Health Software Market on the basis of mode of deployment, Mode of Access, Function, Application and Region. On the basis of Mode of Deployment, Global Mental Health Software Market is segmented into On-premise and Subscription (Cloud-based). On the basis of Mode of Access, the Global Mental Health Software Market is segmented into Desktops/Laptops and Tablets/Smartphones. On the basis of Function, the Global Mental Health Software Market is segmented into Telehealth, Payroll, Revenue Cycle Management (RCM),Ledger, Business Intelligence, Electronic Health Record (EHR) and Clinical Decision Support. On the basis of Application, the Global Mental Health Software Market is segmented into Commercial, Hospitals and Clinics, Others(Psychiatrists, Social Workers, Psychologists, Counsellors, Nurse Practitioners, Group Therapists) and Residential. On the basis of region, Global Mental Health Software Market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the Global Mental Health Software Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global Mental Health Software Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the Global Mental Health Software Market includes Welligent Inc., Netsmart Technologies Inc., Cerner Corporation, Valant Medical Solutions Inc., Qualifacts Systems Inc., Nextgen Healthcare Information Systems LLC, MindLinc, Credible Behavioral Health Inc. (Credible), Core Solutions Inc., and Epic Systems Corporation.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The global Mental Health Software Market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Mental Health Software Market

Detailed Segmentation:

  • Global Mental Health Software Market, By Deployment Mode:
    • On-premise
    • Subscription (Cloud-based)
    • Global Mental Health Software Market, By Mode of Access:
    • Desktops/ Laptops
    • Tablets/ Smartphones
  • Global Mental Health Software Market, By Function:
    • Telehealth
    • Payroll
    • Revenue Cycle Management (RCM)
    • Ledger
    • Business Intelligence
    • Electronic Health Record (EHR)
    • Clinical Decision Support
  • Global Mental Health Software Market, By Application:
    • Commercial
    • Hospitals and Clinics
    • Others
      • Psychiatrists
      • Social Workers
      • Psychologists
      • Counsellors
      • Nurse Practitioners
      • Group Therapists
    • Residential
  • Global Mental Health Software Market, By Region:
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East and Africa
  • Company Profiles
    • Cerner Corporation
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Core Solutions Inc.
    • Credible Behavioral Health Inc. (Credible)
    • Epic Systems Corporation.
    • MindLinc, Credible Behavioral Health Inc. (Credible)
    • Netsmart Technologies Inc.
    • Nextgen Healthcare Information Systems LLC
    • Qualifacts Systems Inc.
    • Valant Medical Solutions Inc.
    • Welligent Inc.

Browse all the market data tables and figures on “Global Mental Health Software Market - Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, BY Deployment Mode
      • Market Snippet, By Mode of Access
      • Market Snippet, By Function
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Global Mental Health Software Market, BY Deployment Mode, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • On-premise
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Subscription (Cloud-based)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. Global Mental Health Software Market, By Mode of Access , 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Desktops/ Laptops
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Tablets/ Smartphones
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. Global Mental Health Software Market, By Function, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Telehealth
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Payroll
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Revenue Cycle Management (RCM)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Ledger
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Business Intelligence
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Electronic Health Record (EHR)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Clinical Decision Support
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  7. Global Mental Health Software Market, By Application, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Commercial
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
        • Hospitals and Clinics
        • Others
        • Psychiatrists
        • Social Workers
        • Psychologists
        • Counsellors
        • Nurse Practitioners
        • Group Therapists
    • Residential
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  8. Global Mental Health Software Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, Deployment Mode, 2019–2027(US$ Million)
      • Market Size and Forecast, By Mode of Access , 2019–2027 (US$ Million)
      • Market Size and Forecast, By Function, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, Deployment Mode, 2019–2027(US$ Million)
      • Market Size and Forecast, By Mode of Access , 2019–2027 (US$ Million)
      • Market Size and Forecast, By Function, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, Deployment Mode, 2019–2027(US$ Million)
      • Market Size and Forecast, By Mode of Access , 2019–2027 (US$ Million)
      • Market Size and Forecast, By Function, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, Deployment Mode, 2019–2027(US$ Million)
      • Market Size and Forecast, By Mode of Access , 2019–2027 (US$ Million)
      • Market Size and Forecast, By Function, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, Deployment Mode, 2019–2027(US$ Million)
      • Market Size and Forecast, By Mode of Access , 2019–2027 (US$ Million)
      • Market Size and Forecast, By Function, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  9. Competitive Landscape
    • Company Profiles
      • Cerner Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Core Solutions Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Credible Behavioral Health Inc. (Credible)
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Epic Systems Corporation.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • MindLinc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Netsmart Technologies Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Nextgen Healthcare Information Systems LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Qualifacts Systems Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Valant Medical Solutions Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Welligent Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on “Global Mental Health Software Market -forecast to 2027”.

Frequently Asked Questions

The global mental health software market is estimated to reach US$ 9,129.9 Million by 2027.
Major players operating in the global mental health software market include Welligent Inc., Netsmart Technologies Inc., Cerner Corporation, Valant Medical Solutions Inc., Qualifacts Systems Inc., Nextgen Healthcare Information Systems LLC, MindLinc, Credible Behavioral Health Inc. (Credible), Core Solutions Inc., and Epic Systems Corporation.
Challenges regarding data security, privacy and protection issues is one of the major factors that is expected to hamper growth of the market over the forecast period.
Availability of innovative healthcare solutions and services is one of the major factors that is expected to propel growth of the market over the forecast period.
The global mental health software market is estimated to exhibit a CAGR of 12.7% during the forecast period (2019-2027).
Among regions, North America is expected to hold dominant position in the global mental health software market in 2019, accounting for 42.8% share in terms of value, followed by Europe, Asia Pacific, Latin America and Middle East and Africa respectively.
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