The behavioral health software market is expected to reach USD 2.31 Billion by 2022 from USD 1.02 Billion in 2016, growing at a CAGR of 14.8% during the forecast period.The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.
The report "Behavioral/Mental …are Market by Component (Service, Software), Delivery (Subscription, Ownership), Functionality (Clinical, Administrative, Financial), End User (Clinic, Hospital, Private Practice, Payer), and Region - Global Forecast to 2022", The behavioral health software market is expected to reach USD 2.31 Billion by 2022 from USD 1.15 Billion in 2017, at a CAGR of 14.8%. The growth of the market is attributed to the increasing adoption of behavioral health software, availability of government funding, government initiatives to encourage EHR adoption in behavioral health organizations, favorable behavioral health reforms in the US, and high demand for mental health services amidst provider shortage.
The objectives of this study are as follows:
- To define, describe, segment, and forecast the market by component, delivery model, functionality, end user, and region
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia, and the Rest of the World (RoW)
- To provide detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
- To analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
- To track and analyze competitive developments such as mergers and acquisitions; partnerships, collaborations, and agreements; product developments; expansions; and research and development activities in the behavioral health software market
Target Audience for this Report:
- Behavioral health software vendors/service providers
- Healthcare IT service providers
- Research and consulting firms
- Healthcare insurance companies/payers
- Healthcare institutions/providers (hospitals, medical groups, physician practices, community clinics, psychiatrists, and outpatient clinics)
- Venture capitalists
- Government agencies
- Health information exchanges
- Accountable care organizations (ACOs)
Scope of the Report
This report categorizes the behavioral health software market into following segments and subsegments:
- Support Services
- Integrated Software
- Standalone Software
By Delivery Model
- Subscription Models
- Ownership Models
- Clinical Functionality
- Electronic Health Records (EHR)
- Clinical Decision Support (CDS)
- Care Plans/Health Management
- Administrative Functionality
- Patient/Client Scheduling
- Document/Image Management
- Case Management
- Business Intelligence (BI)
- Workforce Management
- Financial Functionality
- Revenue Cycle Management
- Managed Care
- Accounts Payable/General Ledger
By End User
- Community Clinics
- Private Practices
- North America
- Rest of the World (RoW)
This report segments the behavioral health software market into component, delivery model, functionality, end user, and region. Based on component, the market is segmented into software and support services.
The support services segment is expected to account for the largest share of the market in 2017. The recurring requirement of support services (such as for software upgrades and maintenance) is the major factor supporting its growth.
Based on the delivery model, the behavioral health software market is segmented into ownership models and subscription models. The subscription models segment is expected to account for the largest share of the market in 2017.
The growth of this segment can be attributed to its advantages such as cost-effectiveness, interoperability, and flexibility.
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Based on functionality, the behavioral health software market is segmented into clinical, financial, and administrative functionalities. The clinical functionality segment is expected to account for the largest share of the market in 2017 and is expected to register the highest CAGR during the forecast period.
High growth in the clinical functionality segment is attributed to the increasing government initiatives to boost adoption of this software by clinicians to provide quality care to their patients at lower costs.
Based on the end user, the behavioral health software market is segmented into providers, payers, and patients. The patients segment is expected to register the highest CAGR during the forecast period.
The large number of patients using behavioral health solutions in their homes or offices for better self-care is the key factor driving the growth of the market for the patients segment.
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