Mental Health Apps Market

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


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

Mental Health Apps Market Insights

Global Mental Health Apps Market size was valued at USD 5.3 billion in 2022 and is poised to grow from USD 6.28 billion in 2023 to USD 19.53 billion by 2031, growing at a CAGR of 15.24% during the forecast period (2024-2031).

With increased demand and newly developed technologies for health identification, the market for mental health apps is growing, which has increased digitalization throughout the regions. With rising customer benefits, greater quality output, better outcomes, and self-accessing the health state. People are now more knowledgeable about mental health apps accompanied by a large market expansion and more market developments.

The market share of mental health apps has increased as a result of better lifestyles, rapid urbanization, and developing countries with better connectivity. High connectedness has a stronger connection to the app that many sociologists, psychologists, anthropologists, and other medical professionals have launched. Increasing internet connectivity and widespread use of mental health app applications primarily increase market value size. Digital addiction is on the rise across a number of industries, and the market is growing thanks to better technology and more effective therapies.

US Mental Health Apps Market is poised to grow at a sustainable CAGR for the next forecast year.

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Global Mental Health Apps Market size was valued at USD 5.3 billion in 2022 and is poised to grow from USD 6.28 billion in 2023 to USD 19.53 billion by 2031, growing at a CAGR of 15.24% during 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 ', 'MoodMission Pty Ltd. ', 'Sanvello Health ', 'Headspace Inc. ', 'Youper, Inc. ', 'BetterHelp ', 'Talkspace ', '7 Cups ', 'Moodfit ', 'Happify ', 'Pacifica ', 'Shine ', '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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Mental Health Apps Market

Report ID: SQMIG35G2122

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