Mental Health Technology Market Report
The report on the Global Mental Health Technology Market is segmented By Functionality (Clinical, Financial, Administrative), By End-User (Providers, Payers, Patients), and Region - COVID-19 Impact Analysis and Forecast to 2026. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global mental health technology market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
The report on the Global Mental Health Technology Market is segmented By Functionality (Clinical, Financial, Administrative), By End-User (Providers, Payers, Patients), and Region - COVID-19 Impact Analysis and Forecast to 2026. ...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Global Mental Health Technology Market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of over xx% during the forecast period.
Figure: Global Mental Health Technology Market Size, 2020-2026 (USD Million)
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The usage of electronic and communication technologies as a therapeutic aid to healthcare practices comes under mental health technology as eHealth or telemedicine.
Key players operating in the global mental health technology market are-
Rising healthcare expenditure for the treatment of behavioural health-related issues or mental illnesses is a major concern for governments.
By functionality, the mental health technology market has been categorized into clinical, financial, and administrative.
By region, the North America market garnered the largest market share in 2020 and is projected to grow at a steady CAGR during the assessment period.
The outbreak of the COVID-19 virus has moderately affected the mental health technology industry owing to stringent lockdown measures and restricted movement of people. The ongoing coronavirus pandemic has adversely altered the healthcare landscape. The ongoing COVID-19 pandemic has halted or disrupted critical mental health services in 93% of countries across the globe while the demand for mental health is increasing. Thus, to ensure social distancing, the mental health services are provided through teleconsulting and EHealth apps, as well as the counselling sessions, are now shifted to chat, audio, and video calls to cater to the rising mental health cases.
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Here is the list of the group of customers that the Mental Health Technology market hopes to have the greatest opportunity to convert-
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AdvancedMD (The U.S), Cerner (The U.S), Compulink (The U.S), Advanced Data Systems (The U.S), Core Solutions (The U.S), Credible Behavioral Health (The U.S), Welligent (The U.S), Valent (The U.S), The Echo Group (The U.S) and Kareo (The U.S) are among the key players in the mental health technology market.
North America garnered the largest share in the mental health technology market in 2020.
The clinical segment is expected to grow at the fastest CAGR in the mental health technology market during the forecast period.
Growing implementation of behavioural health software, favourable government initiatives to encourage EHR adoption in behavioural health organizations, surging demand for mental health services amidst the provider shortage, availability of state funding, and favourable health reforms in the US are the factors driving the growth of mental health technology market.
Mental health technology companies, Mental health NGOs, Counsellors, Psychologists, Hospitals are the key players in the mental health technology market.