Behavioral/Mental Health Software Market

Cerner (US) and NetSmart (US) are the Key Players in the Behavioral/Mental Health Software Market

The behavioral health software market is expected to reach USD 2.31 Billion by 2022 from USD 1.15 Billion in 2017, at a CAGR of 14.8%. Factors such as the increasing adoption of behavior health software, availability of government funding, government initiatives to encourage EHR adoption in behavioral health organizations, favorable behavioral health reforms in the US, and high demand for mental health services amidst provider shortage are driving the growth of this market.

Acquisitions and partnerships accounted for the largest share of the overall growth strategies followed by key players between 2014 and 2017. Some of the companies that adopted these strategies include Netsmart, Core Solutions, Nextgen Healthcare, and InSync Healthcare Solutions.

The behavioral health software market is highly competitive with several big and small players. Prominent players in this market include Advanced Data Systems (US), AdvancedMD (US), Cerner (US), Compulink (US), Core Solutions (US), Credible Behavioral Health (US), ICANotes (US), InSync Healthcare Solutions (US), iSalus Healthcare (US), Kareo (US), Meditab Software (US), Mentegram (US), Mindlinc (US), Netsmart (US), Nextgen Healthcare (US), NextStep Solutions (US), Nuesoft Technologies (US), Qualifacts (US), Raintree Systems (US), Sigmund Software (US), The Echo Group (US), TheraNest (US), Valant (US), Welligent (US), and WRS Health (US).

Cerner (US) is the one of the leading players in the behavioral health software market. The company’s expertise, experience, and comprehensive capabilities in various business functions have enabled it to maintain its position in the market. The company has a wide global presence with operations in North America, Europe, Asia, and other developing markets. The company’s solutions are licensed by approximately 27,000 facilities across the globe. It has a strong sales and marketing network, with sales offices in 35 countries across the globe. The company focuses on achieving sustainable growth by adopting organic growth strategies like an expansion.

NetSmart (US) is another key player in the behavioral health software market. The leading position of the company in this market is attributed to its strong relationship with its customers. The company has a keen focus on building and maintaining strong client relationship to enhance its growth. Additionally, the company also focuses on adopting inorganic growth strategies like acquisitions, partnerships, and collaborations with a view to enhance its presence in this market. For instance, in July 2017, Netsmart acquired DeVero to strengthen its expertise into home care and long-term care.

Related Reports:

Behavioral/Mental Health Software Market by Component (Service, Software), Delivery (Subscription, Ownership), Functionality (Clinical, Administrative, Financial), End User (Clinic, Hospital, Private Practice, Payer), and Region - Global Forecast to 2022

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Report Code
HIT 2953
RI Published ON
11/1/2017
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