Behavioral Health Software Market

The global behavioral health software market is expected to reach USD 4.9 billion by 2026 from USD 2.0 billion in 2021, at a CAGR of 19.6% during the forecast period. Factors such as the increasing adoption of behavioral 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. On the other hand, data privacy concerns and a shortage of HCIT personnel are expected to restrain the growth of this market.

The major players in the behavioral health software market are Cerner (US), Netsmart (US), and Qualifacts (US). Analysis of the market developments between 2018 and 2020 revealed that partnerships & agreements, product launches, and strategic acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the blood culture tests market.

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CERNER (US)

Cerner is the leading player in the behavioral health software market. The company’s expertise, experience, and comprehensive capabilities in various business functions have enabled it to maintain its leading position in this market. The company has a major presence in the US, and approximately 88% of its revenues came from the US in 2020. Its solutions are licensed by ~27,000 facilities worldwide. Cerner 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 inorganic growth strategies such as mergers and acquisitions.

NETSMART(US)

Netsmart is the second-leading 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 relationships to enhance its growth. Additionally, Netsmart focuses on inorganic growth strategies such as acquisitions, partnerships, and collaborations to enhance its presence in this market. In February 2020, Netsmart acquired GPM, a North Carolina-based Software-as-a-Service technology and services company. This will help Netsmart’s CareFabric platform to deliver interoperable data sharing between long-term care facilities and providers. The company‘s client base includes more than 560,000 users and 25,000 organizations across 50 state systems.

QUALIFACTS (US)

Qualifacts is the third-leading player in the behavioral health software market. The company‘s strong customer base is a major reason for its leading position in the market. Qualifacts has a client base of ~50,000 behavioral healthcare providers and ~15,000 clinical personnel. The company has a strong market presence in over 40 states across the US, allowing it to market products effectively and maintain its position in this market.

Related Reports:

Behavioural/Mental Health Software Market by Component (Services, Software), Delivery (Subscription, Ownership), Functionality (Clinical, EHR, CDS, Telehealth, RCM, BI, Administrative, Financial), End User (Hospitals, Clinics) - Global Forecasts to 2026

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