The Global Mental Health Software Market was valued at US$ 4,614.2 Million in 2021 and is expected to surpass US$ 18,811.7 Million by 2030, registering a CAGR of 16.9% during the forecast period (2022-2030), according to the Global Mental Health Software Market Report, by Deployment mode(On-premise and Subscription (Cloud-based)), by Mode of Access(Desktops/Laptops and Tablets/Smartphones), by Function(Telehealth, Payroll, Revenue Cycle Management (RCM), Ledger, Business Intelligence, Electronic Health Record (EHR) and Clinical Decision Support), by Application(Commercial, Residential, Hospitals and Clinics, Others(Psychiatrists, Social Workers, Psychologists, Counsellors, Nurse Practitioners, Group Therapists)) by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), published by Coherent Market Insights.
Mental health is the state of an individual working at a satisfactory level of emotional and behavioral adjustment. Mental health also refers to the complete absence of mental illness such as anxiety, depression, stress, and addition. Mental health software is developed to efficiently manage mental health, behavioral health or addiction treatment. The software is used to manage, record, and maintain digital cases, general practice, medication, and administration of a patient. This software also allows users to schedule online appointments and facilitate medical bill payment via mobile devices such as laptops and smartphones. Moreover, it can retrieve radiology, pharmacy, and laboratory data of the patient that is being treated.
The Global Mental Health Software Market was accounted for US$ 4,614.2 Mn in terms of value in 2021 and is expected to grow at CAGR of 16.9% for the period 2022-2030
- In July 2020, Cerner, a healthcare and information technology company has collaborated with Nuance Communication, Inc. a software technology corporation. This collaboration focused to integrate Nuance’s virtual assistant technology into Cerner Millennium.
- In April 2020, Netsmart, a healthcare software company partnered with veterans affairs, which further helped the veterans to implement Netsmart’s person-centered EHR platform to provide enhanced clinical and operational effectiveness in its delivery of day-to-day care to its residents.
Mental Health Software Market-Impact of Coronavirus (Covid-19) Pandemic:
The COVID-19 pandemic had a favorable impact on the global market for mental health software. Due to its ability to create, access, store, and protect patient information as well as to plan appointments, use electronic prescribing, and reimburse claims, mental health software is widely used in the healthcare industry. The pandemic and rising incidence of mental disease cases have considerably raised usage and demand for mental health software, which has in turn increased sales of the program. As a result, during the epidemic, the global market for mental health software expanded.
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Key Trends and Analysis of the Global Chemical Sensor Market:
- Mental health software providers are laying emphasis on providing healthcare mobile applications, in order to allow healthcare professionals and other users such as patients get access to their health records and other related information regardless of their location via smartphones or mobile phones or tablets. These mobile applications are compatible with most mobile operating systems such as ios and Android OS. For instance, in June 2015, the Centre for Addiction and Mental Health (CAMH) introduced a mobile application that helps users quit or reduce consumption of alcoholic drinks. Furthermore, in September 2014, Coast Capital Savings and Victoria Hospitals Foundation launched BoosterBuddy, a mental health mobile application, especially for youths experiencing anxiety, depression or psychosi.
- Key players operating in the global mental health software market are focused on research and development activities, in order to introduce technologically advanced patient care solutions. For instance, in 2013, Foothold Technology, a provider of EHR solutions for behavioral health and human services, partnered with Inter Systems Corporation, a connected care software provider, to support interoperability with regional human service agencies and health information exchanges. Furthermore, in September 2015, Cerner Corporation and Glens Falls Hospital entered into strategic alignment, in order to integrate the health system of Glens Falls Hospital on the Cerner’s EHR platform. According to this agreement, the company’s product Millennium EHR would be integrated with Glen Falls Hospital’s ambulatory facilities and clinical processes system.
- According to Coherent Market Insights, North America is expected to hold a dominant position in the global mental health software market during the forecast period. This is owing to advancements in digital technology and government initiatives, and plans regarding adopt digital transformation in the healthcare sector. Healthcare organizations such as clinics and hospitals in the U.S. and Canada are focused on adopting remote patient monitoring solutions (Telehealth), healthcare information systems, clinical decision support solutions, and other cloud-based solutions, in order to fulfill increasing demand for real-time healthcare services from residential users.
- “In December 2012 Austria introduced an Electronic Health Records Act (EHR-Act). These provisions are the legal foundation for a national EHR system based upon a substantial public interest according to Article 8(4) of the Data Protection Directive 95/46/EC. The Austrian EHR-Act pursues an opt-out approach in order to harmonize the interests of public health and privacy issues. Tests are being carried out in the country and the system would be fully rolled out by 2017. The implementation of the new EHR system has followed a number of other tests and pilot projects. For example, the results of an independent scientific evaluation of the “e-Medikation pilot project”, which was carried out under Austria’s electronic health records project – ELGA (Elektronische Gesundheitsakte), were presented in May 2012. The aim of the e-Medikation pilot was to provide support to physicians regarding the electronic prescription of medication in a way that it would help in contributing to patients’ safety.”
- Major players operating in the global chemical sensors 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.