Tuesday, 5 June 2018

Market Overview of Behavioral Health Software Market in Global Industry 2017-2025

ResearchMoz presents professional and in-depth study of "Behavioral Health Software Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025".

Behavioral health, more commonly referred to as mental health, can be defined as the scientific study of a person’s biology relating to mental well-being, emotions, concept of self, behavior, and ability to function in day to day life. All kinds of addictions anxiety, depression, and substance abuse fall under the realm of behavioral health.

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Behavioral health software can be defined as custom-built specialized software that is used by psychologists to understand behavioral patterns in patients and suggest treatment to deal with various behavioral issues such as anxiety, stress, addiction, and depression. It has the ability to retrieve laboratory, pharmacy, and radiology data observations on the patients being treated. Additionally, the software offers a detailed report addressing the individual patient’s needs.

The behavioral health software market is anticipated to be driven by increase in health care expenditure, rise in government funding for adoption of the software in health care facilities, focus of clinicians on providing quality care to patients, and the recurring requirement of support services for the software. Moreover, decline in the social stigma associated with behavioral health treatment is expected to boost the growth of the global behavioral health software market. However, lack of awareness about behavioral health software among clinicians in the emerging markets in Asia Pacific and Middle East & Africa, shortage of skilled psychologists, data security issues, rising concern related to data breaches, and privacy issues are expected to hamper the market in the near future.

The global behavioral health software market can be segmented based on component, functionality, delivery model, end-user, and region. In terms of component, the market can be classified into support services and software. The software segment can be further divided into integrated software and standalone software. Based on delivery model, the global behavioral health software market can be categorized into subscription model and ownership model. In terms of functionality, the market can be segmented into clinical, financial, and administrative. The clinical segment can be further segregated into telehealth, electronic health records (EHRs), clinical decision support systems, and others. The financial segment can be classified into revenue cycle management, managed care, and others. The administrative segment can be further divided into business intelligence, workforce management, case management, and others. Based on end-user, the global behavioral health software market can be segmented into payers and providers. The providers segment can be categorized into hospitals, clinics, and private practices.

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Geographically, the global behavioral health software market can be segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of the market in terms of revenue in 2016. The trend is anticipated to continue during the forecast period. Growth of the market in the region can be attributed to rise in number of patients with behavioral health issues, increase in adoption of behavioral health software, and high awareness among people. The market in Europe is anticipated to expand at a high CAGR during the forecast period owing to increase in access to behavioral health care, rise in incidence of behavioral disorders, and government initiatives for increasing awareness about behavioral health. Sluggish growth in Asia Pacific, Latin America, and Middle East & Africa can be attributed to the lack of awareness among people about behavioral health, lack of awareness among clinicians about behavioral health software, and social stigma associated with behavioral or mental health.

Leading players operating in the global behavioral health software market are Cerner Corporation, InSync Healthcare Solutions, Valant, Inc., Core Solutions, Inc., NextStep Solutions, Qualifacts, Netsmart Technologies, Advanced Data Systems Corporation, Mediware Information Systems, Welligent, Inc., Accumedic, and Compulink, among others.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

    Market segments and sub-segments
    Market trends and dynamics
    Supply and demand
    Market size
    Current trends/opportunities/challenges
    Competitive landscape
    Technological breakthroughs
    Value chain and stakeholder analysis

The regional analysis covers:

    North America (U.S. and Canada)
    Latin America (Mexico, Brazil, Peru, Chile, and others)
    Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
    Eastern Europe (Poland and Russia)
    Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
    Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

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A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

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