Meticulous Research®, a leading global market research company, has published an insightful report titled, ‘Mental Health Apps Market Size, Share, Forecast, & Trends Analysis By Platform (Android, iOS), Application (Depression, Anxiety, CBT, DBT, Meditation, Stress), Patient (Adult, Children, Geriatric) End User (Home, Clinic, Hospital) – Global Forecast to 2031.
The report projects that the mental health apps market will reach $2.85 billion by 2031, with a compound annual growth rate (CAGR) of 19.3% from 2024 to 2031. Factors driving this growth include the increasing prevalence of mental health disorders, rising internet accessibility, growing smartphone usage, a shortage of mental health professionals, and enhanced awareness of mental health issues.The market is categorized into adults, children, and older adults. The adults segment is expected to lead in 2024, driven by increasing awareness of mental health issues, decreasing stigma, and rising prevalence of mental health issues among Generation Z.
The end user segment includes home care, hospitals, clinics, and others. The home care segment is anticipated to register the highest CAGR during the forecast period, driven by rising mental health awareness, increasing adoption of telehealth services, and a preference for home healthcare settings.
Regional Insights
The report provides a comprehensive analysis of major geographic regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to dominate the market in 2024, with the U.S. accounting for the largest share. This is attributed to high adoption rates of mental health apps, high prevalence of mental health issues, and increased awareness and adoption of digital health technologies.
Future Market Trends
The mental health apps market is expected to benefit from the increasing popularity of digital therapeutics and high personalization levels. Advances in technology will make mental health apps more sophisticated, providing tailored solutions. Integration with artificial intelligence and wearable devices will enhance efficacy and user experience.
Key Players
The key players operating in the mental health apps market are Talkspace, Inc. (U.S.), BetterHelp (U.S.), Headspace Inc. (U.S.), Sanvello Health, Inc. (U.S.), ReachOut Australia (Australia), Calm.com, Inc. (U.S.), Twill Inc. (U.S.), Worry Watch (U.S.), Jade Lizard Software LLC (U.S.), Insight Network Inc. (U.S.), Aura Health (U.S.), MoodMission Pty Ltd (Australia), and Youper Inc. (U.S.).
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Key questions answered in the report-
- What is the current revenue generated by mental health apps across the globe?
- At what rate is the global demand for mental health apps projected to grow for the next 5-7 years?
- What is the historical market size and growth rate for mental health apps across the globe?
- What are the major factors impacting the growth of this market at the global and regional levels? What are the major opportunities for existing market players and new entrants in the market?
- Which are the high-growth segments in terms of platform, application, patient type, and end user?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the vendors operating in the mental health apps market?
- Who are the major players in the mental health apps market? What are their offerings?
- What are the recent developments from market players in the mental health apps market, and what are the impacts of these developments on the market?
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