Global $4.5B Mental Health Software Market Outlook, 2026 – Mental Healthcare Emerges as a Key Beneficiary of Big Data Phenomenon

Press Releases

Feb 03, 2022

DUBLIN, Feb. 3, 2022 /PRNewswire/ — The “Mental Health Software – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.

Global Mental Health Software Market to Reach US$4.5 Billion by the Year 2026

Mental health software is anticipated to play an important role in extending availability of mental healthcare services to people living in remote areas or individuals amid emergencies like the COVID-19 pandemic.

Amid the COVID-19 crisis, the global market for Mental Health Software estimated at US$1.9 Billion in the year 2020, is projected to reach a revised size of US$4.5 Billion by 2026, growing at a CAGR of 14.9% over the analysis period. Software, one of the segments analyzed in the report, is projected to grow at a 15.4% CAGR to reach US$4.3 Billion by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Support Services segment is readjusted to a revised 12.5% CAGR for the next 7-year period. This segment currently accounts for a 18.2% share of the global Mental Health Software market.

Advancements in artificial intelligence, voice recognition, and optical recognition technologies could enable online mental health software to make more accurate diagnosis and provide more personalized treatment. Mental health software also supports virtual reality (VR) treatments intended to assist patients in relieving trauma-related incidents in a safe, controlled environment like physician’s office.

The U.S. Market is Estimated at $806.1 Million in 2021, While China is Forecast to Reach $305.8 Million by 2026

The Mental Health Software market in the U.S. is estimated at US$806.1 Million in the year 2021. The country currently accounts for a 36.7% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$305.8 Million in the year 2026 trailing a CAGR of 18.1% through the analysis period.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.8% and 14.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 14.2% CAGR while Rest of European market (as defined in the study) will reach US$217.7 Million by the end of the analysis period. Increasing US health reforms along with aging demography that require health services are factors driving growth in this region. Growing awareness of mental healthcare software across China and India is driving demand for the same in Asia Pacific.

Select Competitors (Total 143 Featured)

Cerner Corporation
Core Solutions, Inc.
Epic Systems Corporation
Mindlinc
Netsmart Technologies, Inc.
NextGen Healthcare Information Systems LLC
Qualifacts Systems, Inc.
Valant, Inc.
Welligent Inc.

Key Topics Covered

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Impact of COVID-19 and a Looming Global Recession
2020: A Year of Disruption & Transformation
As the Race between the Virus & Vaccines Intensifies, Review of the World Economy in 2021
Pandemic Pulls Up Lever for Digital Mental Healthcare
Mental Health Software: A Prelude
Key Benefits of Mental Health Software
An Insight into Mental Health Prevalence and Addressal
Select Mental Health Stats Worldwide
Challenges Remain
Advanced Technologies to Create New Possibilities for Mental Healthcare in the Future
COVID-19 Drives Investment, Bestows Mainstream Status to Mental Health
Start-ups Follow Unusual Routes to Deliver Mental Health Services
Select Startups in Digital Mental Healthcare Space
Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Digital Innovation Push Mental Health Software as New Frontier in Access to Mental Health Support
Transforming Mental Healthcare
Technologies Exuding Potential to Transform Mental Health Space
Mental Healthcare Emerges as a Key Beneficiary of Big Data Phenomenon
Big Data Analytics Play a Pivotal Role
Virtual Reality (VR) Makes Mental Health Therapy More Productive
Technology-Driven Boost for Mental Health Software
Remote Access and Low Costs Widen Adoption of Cloud based Mental Health Solutions
Growing Use of EHR in Behavioral Health Organization to Drive Growth
EMR Software Features Essential for Mental Health Professionals
Key Technologies Likely to Impact Next-Generation EHRs
Value-based care Model Drives Integrated Physical Health and Behavioral Health Care
Rise in Focus on Mental Health Wellness in Workspace Drives Adoption of Mental Health Platforms
COVID-19 Pandemic Amplifies Work Related Stress
Artificial Intelligence to Stir Next Wave of Growth in Healthcare IT
Pandemic Reinforces the Power of AI in Mental Health Services Delivery
AI- and ML-enabled Research for Geriatric Mental Health Research
Payer-Provider Healthcare Sector See Significant Changes
SMI Patient Population Impacted by Deficiency in Outpatient Management Programs Offer Opportunities
Efforts to Address Opiate and Substance Use Disorder
Mobile Mental Healthcare Apps Come to the Fore
TeleHealth Evolves as a Useful Tool to Improve Accessibility to Mental Health Care
Telehealth Holds Potential to Improve Pediatric Mental Health Referrals
Behavioral Health in the Limelight as Substance Use Disorder Rise
Aligning Insurance Financing Systems with Outcomes
Schools Increasingly Realize the use of Behavioral Health Software for Streamlining Mental Health Services
Integration of New Technologies with Existing Treatment Modalities Increases Providers’ Productivity
Increased Healthcare Spending to Drive Sales of Behavioral/Mental Health Software