What is the global market size of Mental Health Apps Market?

Global Mental Health Apps Market size was valued at USD 4.49 billion in 2021 and is poised to grow from USD 5.2 billion in 2022 to USD 17.5 billion by 2030, growing at a CAGR of 15.9% in the forecast period (2023-2030).

Global Mental Health Apps Market Size, Share, Growth Analysis, By Platform Type(Android, iOS), By Application Type(Depression and Anxiety Management, Stress Management) - Industry Forecast 2024-2031

Report ID: SQMIG35G2122 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 61 | Figures: 75

Global Mental Health Apps Market Dynamics

Mental Health Apps Market Drivers

Adoption of Virtual Therapy for Mental Health

Over the past several decades, professionals and business leaders have emphasized the importance of mental health and wellbeing for employees in a variety of industries. Software makers and educational institutions work together to help students manage their stress while studying. The market's increasing demand for virtual treatment has been impacted by contemporary lifestyles and fast-paced lives. In addition to increasing productivity, mobile phones have transformed numerous professions into tools.

As the prevalence of mental health concerns among generations has increased, so have online treatment programs. Also, rising smartphone and internet usage are promoting industry expansion. For instance, according to 2021 research by Ericsson, there were more than 6 billion mobile subscriptions, and that number is anticipated to continue rising.

Mental Health Apps Market Restraints

Connectivity Issues

Utilizing the developed software and technologies on smartphones with high-speed connectivity to run the mental health app. Lack of access or problems with internet connectivity making it impossible for mental health applications to function could hinder the market growth for these apps.

Global Mental Health Apps Market Report Snapshots

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Mental Health Apps Market size was valued at USD 4.49 billion in 2019 and is poised to grow from USD 5.2 billion in 2023 to USD 17.5 billion by 2031, growing at a CAGR of 15.9% in the forecast period (2024-2031).

Due to the growing demand for mental health applications and developments in technology, there is huge competition among the current players. It is anticipated that as knowledge and acceptance of digital and mobile health technology rise, the demand for mental health apps will encourage the arrival of fresh businesses. Additionally, it is projected that strategic advancements and initiatives by businesses in the form of product launches, mergers, acquisitions, and partnerships will increase competitiveness and support market expansion. For instance, Headspace announced its relationship with Whole Foods in 2021, further solidifying its place in the expanding market for mental health apps. Some of the major players in the market include: 'Calm', 'Headspace', 'BetterHelp', 'Talkspace', '7 Cups', 'Moodfit', 'Happify', 'MyFitnessPal', 'Pacifica', 'Sanvello', 'Shine', 'Youper', 'Ginger', 'Wysa', 'Woebot', 'Simple Habit', 'Meditopia', 'Happier', 'Breethe', 'Daylio'

Over the past several decades, professionals and business leaders have emphasized the importance of mental health and wellbeing for employees in a variety of industries. Software makers and educational institutions work together to help students manage their stress while studying. The market's increasing demand for virtual treatment has been impacted by contemporary lifestyles and fast-paced lives. In addition to increasing productivity, mobile phones have transformed numerous professions into tools.

Simple access to mental health apps rather than scheduling appointments with doctors. Using the apps on smart phones allows for quick access to information about mental health and the traditional therapies that are available, increasing the number of available options for treating the problem.

In 2021, the North America region dominated the mental health apps market accounting for the highest revenue. Significant factors driving the market growth include the increasing use of smartphones, improvements in coverage networks, and the increasing use of the internet and social media. Smartphone usage in the North American region was over 80% in 2020 and is predicted to reach 85% by 2025, according to the GSMA's The Mobile Economy Report 2021.

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Global Mental Health Apps Market Size, Share, Growth Analysis, By Platform Type(Android, iOS), By Application Type(Depression and Anxiety Management, Stress Management) - Industry Forecast 2024-2031

Global Mental Health Apps Market Dynamics

Global Mental Health Apps Market Report Snapshots

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