A Research Study Titled, “Behavioral Health Software Market By Components, Delivery Model, Functionality, And End User - Global Industry Analysis And Forecast To 2023”, Published By Crystal Market Research
Market Highlights:
The Behavioral Health Software Market Is expected to be around $2.80 billion by 2023 from around $0.78 billion in 2014 while growing at a CAGR of 15.24%. The market is mainly driven by factors such as expanding government support for growing behavioral health services, behavioral health changes, and rising patient base looking for behavioral health services. Moreover, consistent technological advancement in behavioral health software is also expected to favorably contribute to the market growth during the forecast period. However, factors such as low deployment rate of the software in hospitals, difficulty in implementation, lack of skilled healthcare staff and physiatrists, and the lack of data privacy are some of the factors, restraining the growth of the global mental health software market.
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Behavioral Health Software Market Product Outlook and Trend Analysis
Support services represent the major share in this market, essentially due to the repeating prerequisite for these services for up gradation of software and maintenance services. The software market is categorized into integrated and standalone software. The deployment rate of integrated software is higher as they are easy to use and smoothly integrated with various functionalities, thereby these software’s helps for reducing overall cost. The subscription model in the segment of delivery model is supposed to witness heavy growth in behavioral health software market, as it is more user-friendly and cost-effective than the ownership model. Also due to accessibility of web hosted and cloud hosted services subscription model is highly utilized in healthcare sector.
Behavioral Health Software Market, By Component, Estimates and Forecast, 2014-2023 ($Million)
Support Service
Software
Integrated
Standalone
Behavioral Health Software Market, By Delivery Model, Estimates and Forecast, 2014-2023 ($Million)
Ownership Model
Subscription Model
Behavioral Health Software Market, By Functionality, Estimates and Forecast, 2014-2023 ($Million)
Clinical
Electronic Health Records (EHRs)
Clinical decision Support (CDS)
E-Prescribing
Care Plans/Health Management
Telehealth
Administrative
Document Management/Imaging
Business Intelligence
Patient/Client Scheduling
Workforce Management
Case Management
Financial
Accounts Payable/General Ledger
Payroll
Revenue Cycle Management
Managed Care
Behavioral Health Software Market, By End User, Estimates and Forecast, 2014-2023 ($Million)
Providers
Community Clinics
Hospitals
Private Practices
Payers
Residential
Regional Outlook and Trend Analysis
Asia is relied upon to be the fastest growing region, due to expanding healthcare services use and expanding government activities and support within the region. Furthermore, the market in Asia is growing, due to increasing awareness about behavioral health software in the emerging countries, such as India and China. North America is expected to dominate the global market in the coming years, due to expansion of government supports and expanding patient base looking for behavioral services.
Competitive Insights
Behavioral health software includes broad arrangements with solution that provides assistance to providers of behavioral health software to cut the cost in services, upgrade effectiveness, and enhance the nature of patient care. The global behavioral health software market is growing expressively, due to great potential of subscription model.
Some of the major players operating in the global Behavioral Health Software market are, Allscripts, Cerner Corporation, MindLinc, Credible Behavioral Health, Inc., Askesis Development Group Inc, eClinicalWorks, Epic Systems Corporation, NextGen Healthcare Information Systems(subsidiary of Quality Systems), General Electric Company, The Echo Group, Valant Medical solutions Inc. and others.
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