Global Digital Health Solutions for Behavioral Health Management Growth Opportunities

Global Digital Health Solutions for Behavioral Health Management Growth Opportunities

Novel Business Models Supported by Virtual Care Technologies that Offer Direct Patient Support will Emerge Over the Next 2-3 Years

RELEASE DATE
06-Jul-2021
REGION
North America
Research Code: MG02-01-00-00-00
SKU: HC03429-NA-MT_25559
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Description

The World Health Organization (WHO) made the following statement many years ago, “There is no health without mental health”. Today, as the COVID-19 pandemic ravages the world, another public health crisis is looming over our health systems—that of deteriorating mental health. Mass unemployment, salary reductions, depleting financial security nets, increasing domestic violence, homelessness, and poverty are gaining prevalence due to ending lockdowns and other stringent norms. This is resulting in stress, anxiety, depression, and other mental health conditions, which is leading to an overall reduction in quality of life and is linked to a rising number of suicides and a general feeling of morbidity. The despair does not end there. Mental and substance disorders cause lower productivity; the WHO noted that depression and anxiety have cost the global economy an estimated $1 trillion per year in lost productivity. Patients are running out of prescription medication for their mental health conditions. In several countries, including India, getting medication without a prescription is a challenge, and patients have to rely on considerate pharmacists to refill their medication. Telepsychiatry and virtual mental health care are taking off. 2020 saw record funding for mental health start-ups. Virtual mental healthcare vendors, especially in the United States, saw a surge in bookings, and they are making efforts to meet demand by introducing new services, accelerating launch timelines, and hiring more staff. The pandemic has pushed the adoption of technology for various use-cases. While the use of virtual consultations for mental health may slow down when the pandemic subsides, it will continue to be higher than pre-COVID times. In addition to fast-tracking the launches of their services and demonstrating their ability to scale-up, telepsychiatry service providers must have fluid business models based on variable, rather than fixed, costs to manage fluctuating demand. This Frost & Sullivan study decodes the digital health landscape for behavioral health management solutions. It also analyzes the growth opportunities arising from the use of digital health tools such as iCBT, telepsychiatry, enterprise tools, connected sensor-based devices, and AI and analytics-based solutions.

Author: Chandni Mathur

Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Use of Digital Health Solutions in the Behavioral Health Management Market

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Key Findings

Definition and Segmentation

Connected and Quantified Patients will Lay the Foundation for New Solution Design

Moving from Products to Services in Behavioral Health Management

Application of Mental Health Technology in the Care Continuum

Conceptual Framework of the Causal and Protective Factors that Affect Mental Health

COVID-19 and Mental Health

COVID-19 and Mental Health (continued)

Health Systems’ Priorities for the Immediate Future

The Golden Age of Mental Health Technology

Product/Service Lifecycle Analysis

Mental Health Issues in Women

Digital Therapeutics (DTx) in Mental Health

Key Digital Therapeutics Vendors

Key Trends

Regulatory Considerations for Behavioral Health

Competitive Environment

Key Competitors

Opportunity Assessment

Business Models

Mapping of Business Models to Solution Segments

Business-to-Consumer/Direct-to-Consumer Business Model

B2B—Self-Insured Employer Model

B2B—Fee-for-Service Model (health system and payors)

B2B—Value-based Healthcare Service Models (health system and payors)

B2B—Regulatory Approval for Reimbursement (health systems and payors)

Key Growth Metrics

Growth Drivers

Growth Restraints

Forecast Assumptions

Revenue Forecast, Digital Solutions for Behavioral Health Management

Revenue Forecast Analysis, Digital Solutions for Behavioral Health Management

Revenue Forecast by Segment, Digital Solutions for Behavioral Health Management

Revenue Forecast Analysis by Segment, Digital Solutions for Behavioral Health Management

Revenue Forecast by Region, Digital Solutions for Behavioral Health Management

Revenue Forecast Analysis by Region, Digital Solutions for Behavioral Health Management

Key Growth Metrics for iCBT

Revenue Forecast, iCBT

Revenue Forecast Analysis, iCBT

Key Growth Metrics for Telepsychiatry

Revenue Forecast, Telepsychiatry

Revenue Forecast Analysis, Telepsychiatry

Key Growth Metrics for Enterprise Tools

Revenue Forecast, Enterprise Tools

Revenue Forecast Analysis, Enterprise Tools

Key Growth Metrics for Connected Sensor-based Devices

Revenue Forecast, Connected Sensor-based Devices

Revenue Forecast Analysis, Connected Sensor-based Devices

Key Growth Metrics for AI and Analytics-based Solutions

Revenue Forecast, AI and Analytics-based Solutions

Revenue Forecast Analysis, AI and Analytics-based Solutions

Growth Opportunity 1—Behavioral Health Solutions for the Pediatric Population, 2021

Growth Opportunity 1—Behavioral Health Solutions for the Pediatric Population, 2021 (continued)

Growth Opportunity 2—Behavioral Health Solutions for Hospital Staff, 2021

Growth Opportunity 2—Behavioral Health Solutions for Hospital Staff, 2021 (continued)

Growth Opportunity 3—Development and Use of Technology Solutions to Target Substance Abuse and Addiction Management, 2021

Growth Opportunity 3—Development and Use of Technology Solutions to Target Substance Abuse and Addiction Management, 2021 (continued)

Growth Opportunity 4—Clinical Decision Support Tools for Clinical Efficiency Improvements, 2021

Growth Opportunity 4—Clinical Decision Support Tools for Clinical Efficiency Improvements, 2021 (continued)

Growth Opportunity 5—Single Platform that Offers a Mix of Digital Solutions, 2021

Growth Opportunity 5—Single Platform that Offers a Mix of Digital Solutions, 2021 (continued)

Growth Opportunity 6—Sensors to Enhance Assessment and Treatment, 2021

Growth Opportunity 6—Sensors to Enhance Assessment and Treatment, 2021 (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

Related Research
The World Health Organization (WHO) made the following statement many years ago, “There is no health without mental health”. Today, as the COVID-19 pandemic ravages the world, another public health crisis is looming over our health systems—that of deteriorating mental health. Mass unemployment, salary reductions, depleting financial security nets, increasing domestic violence, homelessness, and poverty are gaining prevalence due to ending lockdowns and other stringent norms. This is resulting in stress, anxiety, depression, and other mental health conditions, which is leading to an overall reduction in quality of life and is linked to a rising number of suicides and a general feeling of morbidity. The despair does not end there. Mental and substance disorders cause lower productivity; the WHO noted that depression and anxiety have cost the global economy an estimated $1 trillion per year in lost productivity. Patients are running out of prescription medication for their mental health conditions. In several countries, including India, getting medication without a prescription is a challenge, and patients have to rely on considerate pharmacists to refill their medication. Telepsychiatry and virtual mental health care are taking off. 2020 saw record funding for mental health start-ups. Virtual mental healthcare vendors, especially in the United States, saw a surge in bookings, and they are making efforts to meet demand by introducing new services, accelerating launch timelines, and hiring more staff. The pandemic has pushed the adoption of technology for various use-cases. While the use of virtual consultations for mental health may slow down when the pandemic subsides, it will continue to be higher than pre-COVID times. In addition to fast-tracking the launches of their services and demonstrating their ability to scale-up, telepsychiatry service providers must have fluid business models based on variable, rather than fixed, costs to manage fluctuating demand. This Frost & Sullivan study decodes the digital health landscape for behavioral health management solutions. It also analyzes the growth opportunities arising from the use of digital health tools such as iCBT, telepsychiatry, enterprise tools, connected sensor-based devices, and AI and analytics-based solutions. Author: Chandni Mathur
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No Index No
Podcast No
Author Chandni Mathur
Industries Healthcare
WIP Number MG02-01-00-00-00
Is Prebook No
GPS Codes 9564-B1,9575-B1,9600-B1,9612-B1,9825-B1,9A56-B1,9A06-B1,9A55-B1,9AD7-B1,99BB-B1,99BC-B1,99BD-B1