Global Behavioral/Mental Health Market is set to witness an exponential growth rate of 25% in the coming 5 years

In recent years, the healthcare industry has witnessed the foray of several providers that offer software for behavioral and mental health practices: EHR, teletherapy, scheduling, client engagement, billing, and digital therapeutics to prevent, manage and treat medical disorders.

Rising Demand for Digital Behavioral/Mental Health Market Solutions

With lockdowns implemented, social distancing mandated, and widespread apprehension – Covid-19 placed a dramatic burden on managed healthcare and especially on neurological and psychiatric disease care.

The ubiquity of personal digital devices—smartphones, fitness trackers, tablets, and the launch of digital solutions ensured that the digital mental health tools were accessed more frequently and by a wider demographic of patients. Benefits such as therapeutic approaches to support positive behavioral change on a large scale, anywhere, anytime accessibility, on-demand help without waiting lines, convenience, and ease of use were the key factors that fueled its demand.

Digital Behavioral/Mental Health Market Tools for Children and Teens Set to Open New Growth Opportunities

The mental well-being of children and teenagers has been an area of concern given there are few pediatric mental health specialists in both developed and developing economies. Long waiting time for care and a growing number of kids being sent to the emergency room during mental health crisis situations has been a long-standing issue. To address these concerns, several digital health companies have entered the market.

Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold in the Behavioral/Mental Health Market

The global behavioral/mental health market is an emerging but competitive market marked by the presence o both established and new players. Players operating in the market adopt both organic and inorganic growth strategies such as new product launches, and acquisitions to garner market share. 

The behavioral/mental health market is a booming market that is expected to gain further momentum in the coming years due to the increasing incidence & awareness levels of mental health disorders, conducive funding environment, improving healthcare IT infrastructure, and aggressive organic and inorganic growth strategies followed by players.

Competitive Landscape Analysis: Behavioral/Mental Health Market

The global Behavioral/Mental Health market is marked by the presence of key players such as Akili, Pear Therapeutics, Advanced Data Systems, AdvancedMD, Credible, Lyra Health, Spring Health, Brightline, Little Otter, among others.

Get Customized Report on Behavioral/Mental Health Market @ https://meditechinsights.com/digital-behavioral-mental-health-market/

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