Mental Health Technology Market Size Rising at 15% CAGR During 2022-2028

By Sachin Pashte  | Date: December 23, 2022

Mental Health Technology Market Size Rising at 15% CAGR During 2022-2028

Business analysts claim that global Mental Health Technology Market was worth USD 2.1 billion in 2021 and is anticipated to witness a CAGR of 15% during the forecast period.

Rising behavioral health software adoption, the availability of state funding, government initiatives to encourage EHR adoption in behavioral health organizations, positive behavioral health reforms in the US, and high demand for mental health technology in the face of a shortage of providers are the major growth determinants for global mental health technology market.

For the unversed, Email, SMS, VR, computer programs, blogs, social networks, the telephone, video conferencing, computer games, instant messaging, and podcasts are just a few of the mental health technology that practitioners use as a supplement to traditional clinical procedures.

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At the beginning of 2020, the coronavirus spread quickly, and the second wave of COVID-19 followed soon after. As a result, the major firms changed their business management tactics, which had a substantial effect on the markets. Moreover, the early UK exit from the European Union in 2020 as well as the Russo-Ukrainian War in 2022 boosted the level of already high worldwide instability.

However, now that the COVID-19 situation is under control, the business sphere is anticipated to bolster in the forthcoming years.

Based on type terrain, the market is split into service and software. In terms of functionality, the industry is divided into financial, administrative, and clinical.

Regionally, the latest trends are studied across Western Europe (UK, Benelux, France, Spain, Nordic, Germany, Italy, rest of Western Europe), Asia Pacific (Australia, South Korea, China, ASEAN, India, Japan, Rest of APAC), Middle East & Africa (GCC, Turkey, South Africa, Rest of MEA), Latin America (Mexico, Brazil, Rest of Latin America), Eastern Europe (Poland, Russia, rest of Eastern Europe), and North America (U.S. and Canada).

Moving to competitive landscape, Credible Behavioral Health, Inc., Advanced Data Systems, Compulink Healthcare Solutions, AdvancedMD, Inc., Epic Systems Corporation, NextGen Healthcare Information Systems, LLC, The Echo Group, Core Hi-Tech Solutions, Welligent Inc., Mindlinc, Netsmart Technologies Inc., and Cerner Corporation are the leading players in global mental health technology market.

Questions And Answers: Global Mental Health Technology Market

Q1. What are the growth determinants for global mental health technology market?

Answer: Rising behavioral health software adoption, the availability of state funding, government initiatives to encourage EHR adoption in behavioral health organizations, positive behavioral health reforms in the US, and high demand for mental health technology in the face of a shortage of providers are the major growth determinants for global mental health technology market.

Q2. How is functionality category segmented in global mental health technology market report?

Answer: In terms of functionality, the industry is divided into financial, administrative, and clinical.

Q3. Which are the key players in global mental health technology market?

Answer: Credible Behavioral Health, Inc., Advanced Data Systems, Compulink Healthcare Solutions, AdvancedMD, Inc., Epic Systems Corporation, NextGen Healthcare Information Systems, LLC, The Echo Group, Core Hi-Tech Solutions, Welligent Inc., Mindlinc, Netsmart Technologies Inc., and Cerner Corporation are the leading players in global mental health technology market.

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About Author

Sachin Pashte     ibmag.com

Sachin Pashte

Sachin is into market research and web marketing since the last 2 years and has worked on multiple projects across various industries. He has expertise in writing promotional content for market research reports while his personal interests include the games of footbal...

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