Enjoy complimentary customisation on priority with our Enterprise License!
The online therapy services market size is estimated to grow by USD 16.16 billion at a CAGR of 28.09% between 2023 and 2028. Teletherapy, or online therapy services, have gained significant traction in recent years due to the widespread availability of high-speed internet and mobile devices. Through live video sessions, instant messaging, and phone calls, patients can now connect with licensed therapists from the comfort of their own homes. The convenience and cost-effectiveness of online therapy have made it an attractive alternative to traditional in-person sessions, particularly for individuals dealing with mental health concerns such as depression, anxiety, and relationship issues. Mobile applications serve as a primary platform for these services, frequently integrating chatbots, machine learning, mindfulness meditation apps, and even free therapy options. As a result, the global market for teletherapy is poised for substantial expansion during the forecast period.
To learn more about the market report, Request Free Sample
The online therapy services market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments
The market share growth of the cognitive behavioral therapy segment will be significant during the forecast period. Cognitive behavioral therapy (CBT) is a flourishing segment within the mental health industry. The emergence of digital platforms has made CBT an accessible and effective form of psychological assistance for individuals worldwide. By combining cognitive and behavioral techniques and behavioral rehabilitation, CBT concentrates on helping individuals recognize and modify detrimental thought patterns and behaviors that lead to emotional distress. This evidence-based approach has proven to be an essential tool for improving mental well-being.
Get a glance at the market contribution of various segments. Download PDF Sample
The cognitive behavioral therapy segment was valued at USD 970.50 million in 2018. Online computer-based therapy (CBT) services have gained significant traction due to their numerous advantages. These benefits include the convenience of accessing therapy from anywhere, the ease of use, and the enhanced sense of privacy. As a result, CBT services have become an attractive alternative for a diverse range of users, including busy professionals and individuals residing in areas with limited access to traditional therapy. These factors are expected to fuel the expansion of the global market for Online CBT services throughout the forecast period.
In healthcare, there is a growing emphasis on holistic wellness for individuals residing in care facilities. The ability to engage with the outside world and maintain a normal social life is often restricted, making it crucial to provide comprehensive services that cater to their overall well-being. Residential care services offer complete detoxification programs and encourage participation in recreational activities, such as exercise, sports, music, and art, to aid in recovery. Moreover, the escalating prevalence of mental health concerns across various demographics has led to an expansion of online therapy and mental health applications. This trend is expected to contribute significantly to the expansion of the residential care segment in the upcoming years.
In the business sector, the application of online therapy services caters to a diverse set of concerns that contribute to the overall well-being and productivity of employees. Companies worldwide prioritize their employees' mental health and emotional well-being, recognizing its impact on organizational success. This trend extends to educational institutions, which have integrated online therapy platforms to assist students in managing academic stress, anxiety, and other emotional challenges. Moreover, industries such as hospitality, retail, and customer service leverage these platforms to help employees cope with the specific demands and pressures of their professions. Consequently, these factors are expected to propel the growth of the online therapy services market throughout the forecast period.
For more insights about the market share of various regions, Download PDF Sample now!
North America is estimated to contribute 42% to the growth of the global market during the forecast period. According to Technavio's research, regional trends and key factors will significantly influence the market's development throughout the forecast period. The market's expansion can be attributed to the presence of leading market participants in countries like the United States and Canada. Furthermore, the increasing recognition of the significance of substance abuse and its impact on individuals is anticipated to fuel demand.
Moreover, the escalating prevalence of mental health issues in the region is a significant growth driver for the market. For instance, data from the Anxiety and Depression Association of America (ADAA) indicates that anxiety disorders affect approximately 40 million adults in the United States annually. Consequently, these factors will propel the online therapy services market expansion during the forecast period.
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. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
American Well Corp.: The company offers online therapy services such as virtual counseling for anxiety, stress management, LGBTQ counseling, and OCD.
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 today's market, a multitude of solutions cater to addressing mental health requirements. Occupational therapy software enables individuals to receive mental health counseling from qualified professionals via messaging apps and live video chat on their smartphones. These platforms offer various therapeutic approaches, such as cognitive assessments and training, behavioral therapy and rehabilitation, psychodynamic therapy, and relationship counseling for issues related to depression and anxiety. Prioritizing patient privacy and ensuring the availability of certified therapists, teletherapy and telehealth counseling sessions can be conducted securely. Furthermore, mobile health apps and wearable technology expand mental health resource accessibility, complementing traditional services offered by clinics and supplementing in-person treatment when necessary. The online therapy market is expanding, delivering accessible and effective solutions for mental health care. Users can access mental fitness counseling through messaging apps and mobile device applications, and engage in personalized therapy sessions via online chat or phone conversations, offering support anytime and anywhere. Our researchers analyzed the data, with 2023 serving as the base year, to identify key drivers, trends, and challenges in this sector.
The increasing prevalence of mental health issues is fueling market expansion. Mental health concerns have become increasingly common in recent years, with conditions such as stress, depression, and anxiety affecting people worldwide. This trend is driving demand for effective, accessible, and affordable mental health services on a global scale.
Several factors contribute to the rise in mental health issues. Social pressures, altered lifestyles, economic instability, and the hectic pace of contemporary life can all negatively impact mental well-being. Consequently, these factors are expected to fuel the growth of online therapy services throughout the forecast period.
The increasing push from governments worldwide to enhance online health services is a major driver fueling market expansion in this sector. Recognizing the importance of easily accessible mental health resources, governments are working to improve the way citizens can obtain professional psychological assistance via digital therapy platforms. One significant advantage of government initiatives is their ability to make mental health services more accessible and affordable for all.
Governments can also collaborate with leading online therapy providers to extend mental health services to underserved communities in remote areas. Furthermore, these initiatives often involve subsidizing or covering the costs of therapy sessions, which will further boost the growth of the online therapy services market throughout the forecast period.
The lack of awareness and resources surrounding mental health in developing economies poses a significant obstacle to market expansion. While technology has made great strides in addressing various gaps, disparities in information and accessibility persist, hindering the reach and impact of online mental health resources in these regions.
Despite the numerous benefits of digital mental health services, their recognition and utilization remain limited in many developing nations. Several factors contribute to this, including limited internet connectivity, low smartphone adoption, and insufficient digital literacy among certain population segments. Consequently, these hurdles may hinder the expansion of the online therapy services market during the forecast period.
The online therapy services market report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the online therapy services market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
The online therapy services market is expanding rapidly due to technological advancements and heightened mental health awareness. Individuals can now access mental health support through platforms that offer expert counseling via live video chat and messaging apps on their cell phones. These platforms provide convenient access to various therapeutic modalities, including teletherapy sessions led by licensed therapists. The integration of AI-driven chatbots and machine learning enhances accessibility, while free therapy apps and evidence-based approaches like dialectical behavior therapy and eye movement desensitization and reprocessing (EMDR) therapy offer comprehensive mental health treatment.
Telehealth adoption continues to rise, addressing privacy concerns and providing solutions for issues such as relationship problems, hormone replacement therapy, and substance abuse disorders. The market prioritizes young people and suicide prevention programs, transforming mental health care delivery and bridging gaps to promote overall well-being worldwide. By offering real-time instant messaging or video conferencing sessions with certified therapists, platforms cater to the diverse needs of individuals seeking mental health support. Convenience and accessibility are key benefits, as these services leverage smartphone features and digital apps for seamless interaction. For those requiring more intensive support, options like family therapy address relationship problems and other challenges. Innovative solutions, such as wearable technology and mobile health apps, complement traditional services provided by clinics, ambulatory centers, and hospitals, which may include telemedicine, in-person treatment, and prescription medications. The online therapy market continues to expand, meeting individuals where they are and bridging gaps in mental health care delivery.
Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 28.09% |
Market Growth 2024-2028 |
USD 16.16 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
27.38 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 42% |
Key countries |
US, Germany, UK, China, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
7 Cups of Tea Co., American Well Corp., BreakThrough Counseling Services, Calmerry, CareMe Health, Cerebral Inc., Doctor On Demand Inc., DocVita Inc., Felicity, Heart it out, Manastha, MDLIVE Inc., Mind Voyage, ReGain, TALKSPACE INC, Teladoc Health Inc., ThriveTalk, Thriveworks Counseling, HopeQure Wellness Solutions Pvt. Ltd., and Mental Fuel Inc. |
Market dynamics |
Parent market 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, Market condition analysis for the market forecast period. |
Customization purview |
If our online therapy services market research and growth report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Download Sample PDF at your Fingertips
We can help! Our analysts can customize this online therapy services market forecast report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.