Increasing Per Capita Healthcare Spending to Expand Mental Health Software Market at a CAGR of 13.3%

A new market report published by Persistence Market Research titled “Mental Health Software Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2025)” presents a revised forecast of the global mental health software market for a period of eight years from 2017 to 2025. According to the report, the global mental health software market was valued at US$ 3,190 Mn in 2016, and is expected to register a CAGR of 13.3% from 2017 to 2025. Increasing per capita healthcare spending and low-cost solutions through cloud-based services are major factors driving growth of the global mental health software market. Mental health software enables behavioral health professionals to choose the best treatment plan for a person suffering from stress, anxiety, depression, addiction, etc. based on clinical evidences and patient records. This software also allows users to schedule online appointments and facilitate medical bill payment via mobile devices such as laptops and smartphones.

Market Segmentation and Forecast

The global mental health software market is categorized on the basis of end user and deployment type. On the basis of end user, the market is segmented into hospitals and clinics, residential, counselors and psychologist, group therapist and others. The counselors and psychologist segment is anticipated to register a CAGR of 19.2% during the forecast period. On the basis of deployment type, the market is segmented as SaaS and On-Premise. SaaS segment accounted for highest market share and was valued at US$ 2,791.25 Mn in 2016. Moreover, low-cost solutions through cloud-based services globally is poised to contribute to the growth of the segment in the market. SaaS segment is expected to register a healthy CAGR of 13.9% during the forecast period.

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Regional Analysis & Forecast

This report highlights drivers, restraints and trends driving each segment and offers analysis and insights regarding the potential of Mental Health Software market in regions such as North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. Among these regions, North America accounted for the largest market share in 2016 owing to an increasing need of Mental Health Software market. Asia Pacific region is also projected to register a healthy CAGR of 13.4% during the forecast period.

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Key Players

Key competitors in Mental Health Software market are: Cerner Corporation, MindLinc, Core Solutions Inc., Netsmart Technologies Inc., Epic Systems Corporation, Credible Behavioral Health Inc. (Credible), Nextgen Healthcare Information Systems LLC, Valant Medical Solutions Inc., Welligent Inc. and Qualifacts Systems Inc.

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