Global Behavioral/Mental Health Software Market is expected to reach USD 3.02 Billion by 2024 from USD 1 Billion in 2016 at CAGR of 14.82% (Detailed analysis of the market CAGR is provided in the report).
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Global Behavioral/Mental Health Software Market is segmented by component, functionality, delivery model, end user, and geography. The delivery model segment is classified assubscription model and ownership model. Subscription model segment is spearheading the market. Its advantages such as cost-effectiveness, interoperability, and flexibility over others, attributed to the growth of subscription model segment. Functionality segment is classified as clinical functionality, financial functionality, and administrative functionality. Clinical functionality segment is expected to register the highest growth in the forecast period. Factors like increasing government initiatives to boost adoption of this software by clinicians to provide quality care to their patients at lower costs are driving the clinical functionality segment growth. The market on the basis of geography is segmented by North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. High demand for mental health services amidst provider shortage is trending the overall Global Behavioral/Mental Health Software Market. However, issues related to data privacy concerns will restrain market growth. Europe is going to emerge as one of the higher growth regions in the forecast period followed by North America and APAC. Improving accessibility of behavioral healthcare, the growing incidence of mental disorders and government initiatives for increasing awareness about mental disorders will fuel the global behavioral/mental health software market in the Europe region. Key Highlights: • Assessment of market definition along with the identification of key players and an analysis of their strategies to determine the competitive outlook of the market, opportunities, drivers, restraints, and challenges for this market during the forecast period • Complete quantitative analysis of the industry from 2016 to 2024 to enable the stakeholders to capitalize on the prevailing market opportunities • In-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chain • Global Behavioral/Mental Health Software Market analysis and comprehensive segmentation with respect to the component, functionality, delivery model, end user, and geography to assist in strategic business planning • Global Behavioral/Mental Health Software Market analysis and forecast for five major geographies North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and their key regions Research Methodology: Bloomberg, Hoovers, and Factiva are some of the sites that are being referred to gain insights about Global Behavioral/Mental Health Software Market. Experts from top manufacturing companies along with other stakeholders have been considered. This is done to validate and collect critical information for evaluating trends related to this market during the forecast period. Top-down and bottom-up approaches have been used to estimate the global and regional size of this market. Data triangulation techniques along with other comparative analysis are also used to calculate the exact size of the Global Behavioral/Mental Health Software Market globally.
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