Global Mental Health Software and Devices Market to Grow with a CAGR of 13.28% During 2021-2030; Growing Awareness for Mental Health Diseases Amongst Individuals to Create Opportunities for Market Growth
Kenneth Research published a report titled “Mental Health Software and Devices Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global mental health software and devices market in terms of market segmentation by component, software delivery model, functionality, mode of access, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global mental health software and devices market is anticipated to grow with a CAGR of 13.28% during the forecast period, i.e., 2021 – 2030. The market is segmented by end-user into community clinics, hospitals, private practices, and home care settings, out of which, the community clinics segment is projected to garner the largest revenue of USD 5667.35 Million by the end of 2030. Moreover, in the year 2020, the segment generated a revenue of USD 1644.62 Million.
The global mental health software and devices market is estimated to garner a revenue of USD 13367.12 Million by the end of 2030, up from a revenue of USD 3883.94 Million in the year 2020. Geographically, the market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Out of these, the market in North America is anticipated to garner the largest revenue of USD 5382.17 Million by the end of 2030. Moreover, in the year 2020, the market in the region generated a revenue of USD 1557.47 Million.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Prevalence of Different Types of Mental Disorders Worldwide to Drive Market Growth
In one of the statistics by the World Health Organization (WHO), globally, close to 264 Million people were affected by depression, whereas bipolar disorder and schizophrenia affected 45 Million and 20 Million people respectively.
The rising prevalence of different types of mental health diseases worldwide, and the growing awareness amongst individuals to treat these diseases, are some of the major factors that are raising the footfall in hospitals for the treatment of these diseases. Backed by the rising advancements in medical technology, the healthcare service providers are adopting behavioral health software so as to help them analyze the patients those are visiting these centers for the treatment of different types of mental disorders. Such a factor is therefore anticipated to drive the growth of the global mental health software and devices market during the forecast period.
However, the lack of healthcare information technology (HCIT) professionals is expected to operate as key restraint to the growth of global mental health software and devices market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global mental health software and devices market which includes company profiling of Cerner Corporation, Netsmart Technologies, Inc., Qualifacts Systems, Inc., Valant, NXGN Management, LLC, Core Solutions, Inc., Holmusk USA, Inc., The Echo Group, Welligent, Inc., Credible Behavioral Health, Inc., IBM, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global mental health software and devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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