Behavioral Mental Healthcare Software Market Size, Share, Growth Analysis, By Component(Software (Integrated, standalone), Support Services), By End-use(Providers (Hospitals & Clinics, Community Centers), Payers, Patients), By Function(Clinical (EHRs, Clinical Decision support, Care Plans, E-prescribing), By Region - Industry Forecast 2024-2031

Global Behavioral Mental Healthcare Software Market size was valued at USD 4.74 billion in 2019 and is poised to grow from USD 5.52 billion in 2023 to USD 18.3 billion by 2031, growing at a CAGR of 16.2% in the forecast period (2024-2031).

The market size is boosted due to increase in the government funding, adoption of mental health software, government initiative to promote EHR adoption in psychiatry hospitals and facilities, and high demand for mental health services. To improve the treatment of mental wellbeing issues, the healthcare provider adopts management software. Also, the adoption of integrated EHRs can help behavioral health practices in effective practice management and cost-saving. Even at distant locations Tele-mental health involves coordinating with patients via video conferencing. The real-time monitoring system facilitates the connection between patients and care providers by removing barriers such as information sharing and confidentiality, which are particularly prevalent in substance abuse situations.

The improvement of care’s effectiveness and efficiency is contributed by Integrated modern technologies with established therapy modalities. Governments are particularly concerned about high healthcare expenditures associated with the treatment of behavioral health-related disorders. About 264 million individuals of all ages are affected by depression, it is a prevalent condition worldwide. According to the Lancet Commission research, the global cost of mental illness treatment was USD 2.5 trillion in 2019 and is expected to reach USD 6 trillion by 2031. Economic costs are mostly a result of the early onset of mental diseases and lost productivity, with an anticipated 12 billion working days lost every year.

US Behavioral Mental Healthcare Software Market is poised to grow at a sustainable CAGR for the next forecast year.