Friday 9 January 2015, AmsterdamThe new report now available on ASDReports, provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the behavioral health software market along with the estimates and forecasts of the revenue and share analysis.
The global behavioral health software market is expected to reach $1.5 billion by 2019 from $0.75 billion in 2014, growing at a CAGR of 14.7% from 2014 to 2019.
The report segments this market on the basis of component, delivery model, functionality and end user. Among various end users, the providers segment is expected to account for the largest share in 2014. Providers extensively use this software for maintaining patient records and management of revenue cycles and cases, which is a major reason for its high share. The residential end user segment is expected to grow at the highest CAGR from 2014 to 2019, due to the increasing use of behavioral health solutions by patients in their homes or offices for better self-care.
Based on geography, the global behavioral health software market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). North America is expected to account for the largest share of the market by the end of 2014. The growth of this market is driven by factors such as increasing government support for expanding behavioral health services, behavioral health reforms, and rising patient base seeking behavioral health services.
Key players in the behavioral health software market include Netsmart Technologies (U.S.), Qualifacts (U.S.), Cerner Corporation (U.S.), Epic Systems Corporation (U.S.), MindLinc (U.S.), Credible Behavioral Health Software (U.S.), Accumedic (U.S.), Askesis Development Group, Inc. (U.S.), BestNotes (U.S.), Valant Medical Solutions, Inc. (U.S.), Welligent, Inc. (U.S.), and NextGen Healthcare (U.S.), amongst others.