Global Mental Health Software and Devices Market is expected to foresee significant growth. North America leads the growth!
- Vikas Kumar
- January 14, 2023
- HEALTHCARE, NEWS
- Asia Mental Health Software and Devices Market, Europe Mental Health Software and Devices Market, Mental Health Software and Devices, Mental Health Software and Devices Market, Mental Health Software and Devices Market analysis, Mental Health Software and Devices Market forecast, Mental Health Software and Devices Market growth, Mental Health Software and Devices Market share, Mental Health Software and Devices Market size, Mental Health Software and Devices Market trend, Middle east Mental Health Software and Devices Market, US Mental Health Software and Devices Market
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The global mental health software and devices market is expected to register a CAGR of approx. 12% over the period of 2022-2028. Mental health includes our emotional, psychological, and social well-being. It affects how a person thinks, feel, and acts in life. It is a relatively common disease that affects one in every five people. Genes, stress, and brain chemistry are all factors that contribute to depression. A growing concern is a mental health as a result of patients’ changing lifestyles and unhealthful work schedules. In order to effectively monitor patients’ mental and behavioral orders, these mental health tools and software make effective use of IT advancements. The use of such software and devices can aid in the collection of patient records and mental health histories, resulting in successful patient management. These devices and software for mental health will aid in the diagnosis and treatment of mental disorders. Diagnostic systems, analytics, electronic health record systems (EHRs), terminology and coding systems, telepsychiatry, telemedicine, and others are major areas of the mental health software and devices market. The global mental health software and devices can be attributed to the increased workload, high competition in academics among students and other environmental factors such as pollution, climate change; etc. are the reason for increasing mental health issues among the population worldwide. As per a report by the fitness company Fitbit, the practice of meditation has increased by nearly 3,000 per cent in 2021 globally. The major cause of health complaints was workplace stress followed by financial and family problems. For instance, 80% of the working people in the U.S. were stressed because of their work. Furthermore, 79% of employed adults in 2020 were suffering from work-related stress. This value was 20% higher compared to 59% in 2018, as revealed by the Perk box. Owing to this, a massive population is shifting towards mental health care to live a happy and healthy life. Furthermore, the rise in technological advancements in mental health software and devices, rising mental health software adoption, and favorable behavioral health reforms in the U.S. are expected to drive the market for mental health software and devices market in the coming years.
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Based on the component, the mental health software and devices market is segmented into software and devices. The software segment accounted for a significant market share, and it is estimated that it will grow rapidly during the projected timeframe. Web-based software is a collection of programs that use centralized data, are frequently operated on secure servers located outside of local networks or particular locations and are quickly accessible via the Internet. Software is mainly preferred by many users due to its convenience to use and anywhere access.
Based on the application, the market is fragmented into hospitals, clinics, and others. The hospitals segment grabbed a considerable market share and is expected to grow at a significant CAGR during the forecast period due to the increasing patient pool and an ample number of patients deploying mental health solutions to enhance self-care.
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For a better understanding of the market adoption of mental health software and devices, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, U.K., and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the mental health software and devices industry owing to the advancements in technology and rising demand for online wellness services. Furthermore, it is anticipated that the existence of notable companies in the region will also hasten the development of the North American region, such as Advanced Data Systems, Insync Healthcare Solutions, Isalus Healthcare, The Echo Group, Kareo, Cerner Corporation, Meditab Software, Raintree Systems, Theranest, and Valant, among others.
Some of the major players operating in the market include IBM, CORE SOLUTIONS, Athenahealth, Credible Behavioral Health Inc, NextStep Solutions, Cerner Corporation, Nextgen Healthcare Inc, VALANT, MindLinc, Qualifacts.
Global Mental Health Software And Devices Market Segmentation
Market Insight, by Component
- Software
- Devices
Market Insight, by Application
- Hospitals
- Clinics
- Others
Market Insight, by Region
- North America
- United States
- Canada
- Rest of North America
- Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Rest of Europe
- Asia-Pacific
- China
- India
- Australia
- Japan
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- IBM
- CORE SOLUTIONS
- Athenahealth
- Credible Behavioral Health Inc
- NextStep Solutions
- Cerner Corporation
- Nextgen Healthcare Inc
- VALANT
- MindLinc
- Qualifacts
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