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Mental Health Apps Market

Mental Health Apps Market

Mental Health Apps Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

150

Base Year:

2021

Date

Aug - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1788

Segments Covered
  • By Platform Type iOS, Android, Other Platforms
  • By Application Type Depression & Anxiety Management, Meditation Management, Stress Management, Wellness Management, Other Applications
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 4.1 Billion
Revenue 2028Revenue 2028: USD 9.9 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 15.9%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Mental Health Apps Market Share

Market Synopsis:

The Global Mental Health Apps Market was valued at USD 4.1 Billion in the year 2021 and is forecast to reach a value of USD 9.9 Billion by the year 2028. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 15.9% over the forecast period.

Mental health applications are tools that can be accessed through a smartphone or other smartphone. These apps aim to increase users' self-awareness by attempting to control their moods, keeping proper habits while breaking bad ones, and nurturing positive thinking. Among the significant mental illnesses focused on mental health, applications are mood disorders (such as depression or bipolar disorder), anxiety symptoms, personality disorders, psychotic diseases, disordered eating, trauma-related disorders, and substance abuse problems, to name a few driving the market growth. In addition, people's or society's increased stress levels are due to the factors like drug or alcohol addiction, inappropriate work-life balance, relationship issues, growing mental health awareness in recent years, and fewer social interactions are the key elements raising the risk of mental disease globally, particularly in developed and emerging regions and hence fuels the market for mental health apps.

Mental Health Apps Market Size, 2021 To 2028 (USD Billion)

Additionally, the use of cutting-edge linked gadgets like smartwatches, self-assessment awareness tools, and applications for mental health suggested by doctors has grown over time. As a result, it is believed that in recent years, demand for the market for Mental Health Apps has increased. Moreover, by providing an interactive platform, these Mental Health Apps will assist professionals such as psychiatrists, psychotherapists, clinical psychologists, and others in assessing and monitoring the benefits and risks of the patient's mental wellness. Furthermore, these health apps' point-of-care services remove all barriers to seeking a therapist for mental health well-being, including those caused by expensive OPD therapy sessions, the social stigma associated with depression, and a lack of self-confidence to leave one's home to visit hospitals and clinics.

Market Segmentation:

The Mental Health Apps market is segmented into Platform Type, Application Type, and Region. Based on the Platform Type outlook, the market is further classified into iOS, Android, and Other Platforms. Furthermore, based on the Application Type, the market is further segmented into Depression & Anxiety Management, Meditation Management, Stress Management, Wellness Management, and Other Applications.

Below tree is interactive. You can click the nodes to get more information.

Based on Platform Type Outlook:

The iOS sector is the one with the most significant market share. iOS smartphones and tablets have more health apps than android ones. Every year, over 100 new healthcare applications are uploaded to the Appstore; due to this rapid advancement in technology and customer acceptability, the market for these apps has experienced exponential development in recent years. The application-based smartwatch market is anticipated to grow at the fastest rate. Smartwatches that track mental health and well-being are popular right now. Leading companies have recently increased their Research and Development (R&D) expenditures for cutting-edge innovative technology for the healthcare business. Therefore, increasing demand for smartwatches and other technology solutions is anticipated to fuel the market for mental health apps.

Based on Application Type Outlook:

The Management of Depression & Anxiety as an Application is anticipated to increase during the study period significantly. The most prevalent mental health issues in both men and women are anxiety and depression. In addition, men are more likely than women to have substance use disorders, and as a result, they are more likely to utilize those apps. The key drivers of the segment's growth include the rising prevalence of depression and anxiety, the expansion of efforts to manage these conditions, and the introduction of numerous mental health apps.

Asia Pacific is Projected to Grow at the Highest CAGR During the Forecast Period

Asia Pacific is accounted to grow at the highest Compound Annual Growth Rate (CAGR) during the forecast period. In the Asia-Pacific (China, Japan, India, Australia, and the rest of APAC) area, the rising patient population is expected to present a growth potential due to the region's changing lifestyle and shifting tendency toward urban culture and nuclear families. Furthermore, thanks to the region's growing use of smartphones and increased demand for connected devices, the Asia Pacific region is predicted to grow significantly. Additionally, many nations in the region are implementing mobile and digital health technology to manage healthcare delivery and guarantee better results. Therefore, over the projection period, such initiatives are expected to increase the usage of Mental Health Apps in the Asia-pacific area.

Competitive Landscape:

The key players in the Global Mental Health Apps market include- Mindscape LLC, Calm, MoodMission Pty Ltd., Sanvello Health, Headspace Inc., Flow Youper Inc., Happify Inc., Talkspace, and others.

Segmentation of the Global Mental Health Apps Market:

Parameter Details
Segments Covered
  • Platform Type (iOS, Android, Other Platforms)
  • Application Type (Depression & Anxiety Management, Meditation Management, Stress Management, Wellness Management, Other Applications)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Mindscape LLC
  • Calm
  • MoodMission Pty Ltd.
  • Sanvello Health
  • Headspace Inc.
  • Flow Youper Inc.
  • Happify Inc.
  • Talkspace
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Mental Health Apps Market to Reach Valuation of USD 9.9 Billion by 2028 – Provision of Numerous Benefits of Mental Health Apps Drives the Market
In terms of revenue, the Global Mental Health Apps Market is expected to reach USD 9.9 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 15.9% from 2022 to 2028. Mental Health Apps Market is broadly used to improve the mental health & well-being of patients. Thus, increasing adop...
FAQ
Frequently Asked Question
  • The global Mental Health Apps valued at USD 4.1 Billion in 2020 and is expected to reach USD 9.9 Billion in 2028 growing at a CAGR of 15.9%.

  • The prominent players in the market are Mindscape LLC, Calm, MoodMission Pty Ltd., Sanvello Health, Headspace Inc., Flow Youper Inc., Happify Inc., Talkspace.

  • The market is project to grow at a CAGR of 15.9% between 2021 and 2028.

  • The driving factors of the Mental Health Apps include

    • Growing cases of mental health problems

  • North America was the leading regional segment of the Mental Health Apps in 2020.