Behavioral Health Care Software And Services Market Size Is Expected To Reach USD 8.6 Billion By 2030

 San Francisco, 15 May 2024: The Report Behavioral Health Care Software And Services Market Size, Share & Trends Analysis Report By Component, By Delivery Model, By Function, By End Use, By Disorder Type, By Region And Segment Forecasts, 2023 - 2030

 The global behavioral health care software and services market size is expected to reach USD 8.6 billion by 2030, expanding at a CAGR of 12.8% from 2023 to 2030, based on a new report by Grand View Research, Inc. Behavioral health management software provides ease of communication between providers and patients and its real-time monitoring feature enables doctors to efficiently track patient progress. These systems maintain confidentiality regarding patient information, especially in cases of substance abuse and mental illness. The software increases productivity and efficiency for service providers by integrating with its existing infrastructure. Behavioral healthcare providers help reduce treatment costs by providing value-based medicine programs, thus preventing hospital readmissions.

According to the National Institute on Drug Abuse (NIDA), the projected cost of drug abuse in the United States, which includes illegal drugs, alcohol, and tobacco, is more than USD 740 billion each year and growing. In the United States, substance misuse costs society money through increased healthcare bills, crime, and lost productivity. The Cures Act provides vendors with an opportunity of integrating, resulting in care coordination of both parties. The act will enable interoperability between healthcare providers, especially mental healthcare providers, enable insurance claim submissions, simplify the explanation of benefits, and eliminate the obstacles to reimbursement for faster returns. New behavioral health integration codes were introduced by the Centers for Medicare & Medicaid Services (CMS) under the psychiatric collaborative care model and behavioral health integration under the successful chronic care management services initiative.

However, the COVID-19 pandemic led to an increase in stress, worry, despair, frustration, and dread among the population, potentially increasing the prevalence of depression, stress, and anxiety. According to ORCHA, during the pandemic, the search for apps for depression management and anxiety increased by 176% and 86% respectively. Thus, the growing cases of mental problems will increase demand for online diagnosis and treatment platforms, ultimately driving the behavioral/mental health software industry.

Access Research Report of Behavioral Health Care Software And Services Market @ https://www.grandviewresearch.com/industry-analysis/behavioral-mental-health-care-software-market

Behavioral Health Care Software And Services Market Report Highlights

• The software segment held the largest share in the market for behavioral health care software and services in 2022, due to the increasing adoption of technological solutions and an increasing number of start-up businesses
• Based on the delivery model, the subscription segment dominated the market in 2022. Due to limited budgets and less patient volume, the small-scale psychiatry hospitals prefer subscription-based software solutions
• Based on function, the clinical functions segment dominated the overall market. The integration of clinical functions reduces the workload on healthcare professionals and improves productivity
• North America accounted for the largest market share in 2022 and the Asia Pacific is expected to witness the fastest growth during the forecast period
• Partnerships between local health systems and the rising adoption of the integrated care model are expected to create growth opportunities for the mental health care software and services market
• In July 2020, the University of North Carolina (UNC) and Google Cloud introduced an application called Heroes Health to aid first responders and healthcare personnel with their mental health issues amid the COVID-19 pandemic.

Behavioral Health Care Software And Services Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 3.6 billion
Revenue forecast in 2030	USD 8.6 billion
Growth Rate	CAGR of 12.8% from 2022 to 2030
Base year for estimation	2022
Historical data	2017 - 2021
Forecast period	2023 - 2030

List of Key Players of Behavioral Health Care Software And Services Market

• Cerner Corporation
• Core Solutions, Inc.
• Epic
• Meditab
• Holmusk
• Netsmart Technologies
• Qualifacts Systems, Inc.
• Welligent, Inc.

Access Press Release of Behavioral Health Care Software And Services Market @ https://www.grandviewresearch.com/press-release/global-behavioral-mental-health-care-software-market