Mental Health Software Market To Be Driven By The Rising Incidence Of Stroke In The Forecast Period Of 2023-2030
UNITED STATES, February 20, 2023 /EINPresswire.com/ — 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).Mental Health Software Market translates the COVID-19 pandemic into a business success amidst rising cases of depression and growing adoption of remote patient monitoring solutions
Overview
Among the many aspects of health, mental health is often reflected in our ability to enjoy life. Typically, health is defined by the amount of enjoyment we get from the most important things in life. Resilience is another indicator of mental health, and it refers to the ability to bounce back from adversity. Resilient individuals tend to have a positive attitude, are more likely to seek social support, and are better able to deal with stress and thrive despite the negative aspects of life. In today’s mental health practice, software solutions have become an integral part of the treatment process. The best mental health care software systems offer high-end encryption, robust security features, and integrated billing and document storage. Many of these applications offer support for patients and providers through community forums, phone calls, and live chat.
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Competitive Landscape
Major companies contributing to the global mental health software market include Qualifacts Systems Inc., Valant Medical Solutions Inc., Cerner Corporation, Netsmart Technologies Inc., Welligent Inc., Epic Systems Corporation, Core Solutions Inc., Credible Behavioral Health Inc., MindLinc, and Nextgen Healthcare Information Systems LLC.
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
Drivers
Increased anxiety, fear, despair, and frustration as a result of the pandemic crisis are also boosting the demand for effective behavioral health software solutions.
Increasing stress circumstances necessitating mental health management, government financing and incentives for EHR use in behavioral health organizations, and better health reforms are the primary drivers driving the global mental health software market’s growth over the projection period.
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The Epitome of the COVID-19 Aftermath
The commencement of the COVID-19 issue has had a favorable impact on the global mental health software market. Due to restrictions on outside movement and activities, a considerable percentage of the population has been forced to stay indoors, resulting in some major mental health problems. The market has a strong growth prognosis due to rising unemployment rates and social distancing measures.
Key Takeaways
• The global mental health software market is anticipated to grow at a CAGR of 16.9 % during the forecast period owing to increasing instances of mental disorders in patients suffering from non-communicable diseases and the launch of new diagnostic techniques. Serious mental illnesses cost the United States an estimated US$193.2 billion in missed earnings per year, according to the National Alliance on Mental Illness.
• Due to a growth in the number of patients with behavioral health difficulties, increased use of behavioral health software, and high awareness among individuals, North America accounted for the highest share of the global mental health software market.
• Due to increased access to behavioral health care, the rising prevalence of behavioral disorders, and government initiatives to raise behavioral health awareness, the global mental health software market in Europe is expected to grow at a high CAGR over the projected period.
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Mr. Shah
Coherent Market Insights Pvt. Ltd.
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