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Mental Health Software Market is expected to reach US$ 2586.4 Mn by 2022, owing to the Increasing Adoption of Technological Solutions amongst Mental Healthcare Professionals for Streamlining Patient Treatment as a Result of Regulatory Compliance, says Absolute Markets Insights

Published On 22 Oct 2020 11:52 AM


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The deterioration of mental health amongst individuals is a serious concern among government bodies around the globe. Rise in job-related stress, coupled with higher competition in education is leading to various mental health-related illnesses in adults and children. Studies show that around 11.9% of the female population and 9.3% of the total male population were victims of mental health disorders in 2017. Among these, over 264 million and 284 million individuals suffered from depression, and anxiety disorders respectively. However, based on the studies conducted by the World Health Organization (WHO), it has been found that people suffering from mental disorders can live normal lives with proper treatment, in spite of the long term effects of certain mental disorders. For instance, in more than 80% of schizophrenia-related cases, patients can be free from relapses after a year of treatment which consists of antipsychotic drugs. Hospitals, clinics, research institutes, etc., are using technology to tackle the growth of the mental health disorders, which is helping in the growth of the global mental health software market. TheraNest, for example, provides practice management solutions to therapists, counselors, psychologists, etc., which is compliant with HIPAA regulations. These institutions are being encouraged by the government bodies to provide subsided care to the patients. In the U.S., for instance, those individuals who do not qualify for mental health benefits under Medicaid plan can visit community health centers which provide services like therapy and psychiatric care. Furthermore, government bodies are also formulating mental health policies that aid in raising awareness about mental health. Mental Health Care Act in India, for instance, came into force in 2018. The Act talks about the treatment of mentally ill individuals, along with their rehabilitation in healthcare centers. The rising awareness about mental health, along with the use of advanced technology in the treatment of mental health in various institutions, is expected to help in the growth of the global mental health software market in the coming years.  

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The COVID-19 pandemic has impacted the lives of individuals across the globe. Mental health of several individuals has been affected due to the added pressure of company layoffs, lack of socialization as a result of social distancing rules, amongst others. Moreover, patients requiring mental health services have been forced to stay home to prevent the spread of the virus. Telemedicine is being increasingly used by mental health providers to tackle this issue. Telemedicine software can help medical practitioners to reach patients through the medium of the internet. VSee, for instance, is a California-based company that provides mobile and web applications to mental health professionals that facilitates the treatment of patients based on convenient hours. The scheduling of video calls, along with note-making during sessions is made easier through VSee's mental health telemedicine software. Therefore, the rise in cases of mental illnesses during the pandemic and the use of telemedicine software for the treatment of patients is positively impacting the global mental health software market

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The detailed research study provides qualitative and quantitative analysis of the global mental health software market. The mental health software market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America

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Global Mental Health Software Market

  • By Component
    • Support Services
    • Software
      • Integrated Software
      • Standalone Software
  • By Delivery Model
    • Subscription Models
    • Ownership Models
  • By Functionality
    • Clinical Functionality
      • Electronic Health Records (EHR)
      • Clinical Decision Support (CDS)
      • Care Plans/Health Management
      • E-Prescribing
      • Telehealth
    • 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
      • Payroll
  • By End-User
    • Providers
    • Community Clinics
    • Hospitals
    • Private Practices
    • Payers
    • Patients
  • By Region:
  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

 

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Press Release Provided By: Absolute Markets Insights