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The Mental Health Apps Market size is estimated to grow by USD 946.8 million between 2022 and 2027 accelerating at a CAGR of 20.85% during the forecast period. The expansion of the market hinges on several key factors, notably the increasing incidence of mental health disorders, heightened consciousness surrounding mental well-being, and the widespread integration of smartphones into daily life. As mental health disorders become more prevalent, there's a corresponding surge in public awareness and acknowledgment of the importance of mental wellness. Additionally, the ubiquity of smartphones facilitates access to mental health resources and services, offering convenient avenues for support and guidance. This confluence of factors underscores a growing demand for mental health solutions and services, driving innovation and investment in the sector to meet the evolving needs of individuals seeking support and assistance in managing their mental health.
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This market report extensively covers market segmentation by platform (iOS and android), type (monthly subscription and yearly subscription), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market is driven by increasing digitalization and the rising demand for accessible mental health solutions. These apps offer customers numerous benefits, including self-accessing tools and quality outcomes. As lifestyles evolve and urbanization accelerates, the prevalence of significant conditions like bipolar disorder, PTSD, and schizophrenia rises. Consequently, there's a growing need for innovative apps that cater to diverse treatment outcomes. However, challenges such as ensuring app reliability and addressing the unique needs of different user demographics remain. Healthcare providers and homecare settings increasingly integrate into their services, reflecting a trend towards holistic mental wellness support. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing prevalence of mental health disorders is the key factor driving the growth of the market. One of the biggest challenges facing the global retirement community market segment is the low savings of baby boomers. However, many baby boomers do not have enough savings for retirement. There are several reasons why baby boomers are saving less. One reason is that many baby boomers don't make retirement savings a priority. They may have focused on other financial priorities, such as paying off debt or supporting their children`s education. Additionally, some baby boomers may have experienced a job loss or other financial setbacks that have made it difficult for them to save. The prevalence rate of disorders has also increased on a global level in recent years.
For instance, in 2020, the Lancet Journal conducted a study on the prevalence and burden of depression and anxiety disorders in 204 countries across the world, which were triggered by the COVID-19 pandemic. As per the study, there were an estimated 75.2 million people globally dealing with anxiety disorders in 2020. The number of cases increased by 25.6% in 2020 over that in 2019. The high prevalence rate of such disorders will positively impact the growth of the market during the forecast period.
Technological development in mental health apps is the primary trend in the market growth. Major players in the market are concentrating on offering technologically cutting-edge solutions to meet the demands of end customers and improve their competitiveness. These businesses are integrating cutting-edge technologies into their offerings, including CRM, text, video, and end-to-end patient engagement using AI and ML, among other things. For instance, a healthcare company named Moody introduced an intelligent mental healthcare app in January 2021.
Further, the app is designed to identify and notify the user about psychological changes in their behavior in advance and recommend daily corrective actions. It enables the user to write daily entries in their journal that include memories such as photos, attachments, and others. Thus, such developments are likely to propel the demand for such services from patients suffering from mental health disorders. The growing demand for virtual mental healthcare services is expected to have a positive impact on the growth of the market during the forecast period.
Privacy and security concerns associated with the use of mental health apps are a major challenge to the growth of the market. Mental health apps collect sensitive personal data, such as health data and location information, and users may be concerned about how their data is used and who has access to it. In recent years, there have been several high-profile data and privacy breaches that undermine public trust in technology companies and highlight the importance of privacy and security. To address these concerns, mental health app developers and providers must implement rigorous privacy and security measures to protect users' data. This includes implementing robust data encryption, ensuring secure data storage, and providing a transparent privacy policy and consent process.
Additionally, such app providers need to be transparent about how they collect, use, and share user data, and should provide users with control over their data, including the ability to delete or modify their information. Regulatory bodies are also increasingly focusing on data privacy and security in the digital health space, with the General Data Protection Regulation (GDPR) in the European Union and the Health Insurance Portability and Accountability Act (HIPAA) in the US providing guidelines and requirements for the protection of personal health information. Overall, addressing privacy and security concerns is critical for the success and sustainability of the market, as users need to feel confident that their data is being handled responsibly and with their best interests in mind. Thus, privacy and security concerns associated with the use of mental health apps can become a major challenge to the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
7 Cups of Tea Co.: The company offers mental health apps such as 7 Cups. Also, the company offers online therapy and free support to people experiencing emotional distress by connecting them with trained therapists.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In the realm of mental health, digitalization has ushered in a new era of accessibility and support through health identification apps. These platforms offer customer benefits by providing self-accessing tools for individuals to monitor and manage their well-being. With rapid urbanization and evolving lifestyles, the market caters to the needs of a diverse user base, addressing conditions such as Bipolar disorder, PTSD, and Schizophrenia. Through platforms like Spotify and Mindscapes, users can access knowledgeable content and resources tailored to their needs, facilitating treatment outcomes and improving overall quality output. Whether utilized in homecare settings or by working professionals, mental health apps play a vital role in promoting well-being and enhancing productivity in the modern world.
The market share growth by the iOS segment will be significant during the forecast period. The iOS segment accounted for the largest share of the market in terms of revenue in 2022. Apps for cognitive fitness and wellness that run on iOS-compatible mobile devices or tablets are referred to as iOS mental health apps. IOS is an operating system for mobile devices developed by Apple Inc. These apps are used to manage stress, depression, and anxiety, as well as for wellness, meditation, and other purposes.
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The IOS segment was valued at USD 163.20 million in 2017 and continued to grow by 2021. In recent years, mental health apps have become increasingly popular among iOS users, with a growing number of mental health apps being developed specifically for the iOS platform. The iOS app store offers a wide range of mental health apps that address various cognitive health concerns, including anxiety, depression, and stress. Some popular mental health apps on the iOS platform include Headspace, Calm, Moodfit, and Happify. iOS users tend to be more affluent and educated, and they often prioritize quality and aesthetics. This demographic is particularly interested in mental health and wellness apps, and they are willing to pay for high-quality apps that can help them manage their mental health. As a result, mental health app developers who target the iOS platform may have an opportunity to generate significant revenue from their apps. Such factors will increase the segment growth during the forecast period.
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APAC is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The APAC market is growing rapidly as the region faces rising rates of cognitive health disorders and increasing demand for accessible and affordable health services. The market is projected to witness significant growth owing to factors such as the increasing adoption of smartphones and mobile technologies.
The growth of the market in APAC is also driven by a growing preference for telemedicine and online medical services, which offer more accessible and affordable cognitive health care. Mental health apps provide users with convenient and personalized support for managing their cognitive health, which can be particularly important in regions where cognitive health services may be limited or stigmatized. Such factors will increase the market growth during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
In the realm of mental health, connectivity and connectedness are paramount, driving the development of innovative mental health apps. These platforms are designed with insights from various disciplines including sociologists, psychologists, and anthropologists, as well as medical professionals. With increasing internet connectivity and concerns about digital addiction, cognitive health apps offer a diverse range of therapies to address conditions like stress management and meditation management. They cater to the Android sector and tackle connectivity issues while promoting wellness management in the mobile health space. As a patient-centric solution, they provide personalized care beyond traditional care methods, leveraging studies and data from platforms like NCBI and Crunchbase.
Market Scope |
|
Report Coverage |
Details |
Page number |
148 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 20.85% |
Market growth 2023-2027 |
USD 946.8 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
20.46 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 32% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
7 Cups of Tea Co., Calm.com Inc., CVS Health Corp., Flow Neuroscience AB, Glucobit Inc., Happify Inc. , Headspace Inc., MassiveMusic, Mayo Clinic, MoodMission Pty Ltd., Moodtools, NOCD Inc., Roble Ridge Software LLC, Sanvello Health Inc., TALKSPACE INC, Thrive Therapeutic Software Ltd., ustwo Ltd., Women LLC, Youper Inc., and American Well Corp. |
Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Platform
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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