Global Mental Health Software Market To Reach $ 4.5 Billion By 2026

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FACTS AT A GLANCE
Editing: 9; Posted: November 2021
Executive pool: 372
Companies: 143 – Players covered include Cerner Corporation; Basic Solutions, Inc .; Epic Systems Corporation; Mindlinc; Netsmart Technologies, Inc .; NextGen Healthcare Information Systems LLC; Qualifacts Systems, Inc .; Valant, Inc .; Welligent Inc. et al.
Blanket: All major geographies and key segments
Segments: Component (software, support services); Function (clinical, administrative, financial); End use (providers, payers, patients)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; and rest of Europe); Asia Pacific; Rest of the world.

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ABSTRACT-

Global Mental Health Software Market To Reach US $ 4.5 billion by 2026
Mental health software solutions are designed to meet the specific requirements of the mental health or behavioral health industry. These platforms bridge the gap between general or stand-alone healthcare solutions that are sometimes unable to provide all of the functions a practice needs. Mental health software allows healthcare professionals to prepare a treatment plan for patients with various behavioral disorders such as anxiety, addiction, stress, and anxiety. Mental health software enables doctors, therapists and other users to simplify workflows with patients and at the front office. Supporting mental health is now seen as an important part of overall health and is becoming a global priority. The application of health information technology (TIH) offers participants significant opportunities to improve mental health care. Stakeholders should consider computerized clinical decision support for treating people unresponsive to telemedicine, initial drug trials, and computer adaptation of psychosocial treatments for people with MMS. In addition, HIT training as well as the integration of technology into behavioral health environments facilitate collaboration between providers and interdisciplinary. Mental health software and tools respond to this ever-growing health challenge. Solutions integrated with the science of integrating mental health enable all people in need of care and their loved ones to prioritize mental health by finding an inclusive and supportive path to general well-being. Mental health software is expected to play an important role in extending the availability of mental health services to people living in remote areas or to people in emergencies like the COVID-19 pandemic.

Amid COVID-19 Crisis, Global Mental Health Software Market Is Estimated At US $ 1.9 billion in 2020, is expected to reach a revised size of US $ 4.5 billion by 2026, with a CAGR of 14.9% during the analysis period. Software, one of the segments analyzed in the report, is expected to grow at a CAGR of 15.4% to reach 4.3 billion US dollars at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the support services segment is readjusted to a revised CAGR of 12.5% ​​for the next 7-year period. This segment currently accounts for an 18.2% share of the global mental health software market. Advances in artificial intelligence, speech recognition and optical recognition technologies could allow online mental health software to make a more accurate diagnosis and provide more personalized treatment. Mental health software also supports virtual reality (VR) treatments intended to help patients relieve trauma-related incidents in a safe and controlled environment such as a doctor’s office.

The US market is estimated at $ 806.1 million in 2021, when China is expected to reach $ 305.8 million by 2026
The US mental health software market is estimated to be US $ 806.1 million in 2021. The country currently represents a 36.7% share of the global market. China, the world’s second-largest economy, is expected to reach an estimated market size of 305.8 million US dollars during the year 2026, with a CAGR of 18.1% during the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 12.8% and 14.1% respectively during the analysis period. In Europe, Germany is expected to grow by around 14.2% CAGR while the rest of the European market (as defined in the study) will reach US $ 217.7 million at the end of the analysis period. Growing healthcare reforms in the United States as well as aging demographics that require healthcare services are growth factors in this region. Growing awareness of mental health software across China and India stimulates demand for the same Asia Pacific. Following

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