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The global online therapy services market size is estimated to grow by USD 16.16 billion at a CAGR of 28.09% between 2023 and 2028. In the ever-changing world of online services, market players are continuously developing their strategic goals to remain in the competition and fulfill the changing demands of their clients. These plans reflect a deep comprehension of market dynamics and a focus on innovation and customer experience. Furthermore, from intuitive interfaces to personalized recommendations to streamlined processes, market players are making it easier than ever for their customers to find and use their online products and services. Not only does this customer-centric strategy help build customer loyalty, but it also helps attract new users through good customer reviews. Hence, due to these reasons, the global market will grow during the forecast period.
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Technavio has segmented the market into Type, Application, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
The market share growth by the cognitive behavioral therapy segment will be significant during the forecast period. Cognitive behavioral therapy (CBT) is one of the growing segments in the thriving industry. With the advent of digital platforms, CBT has become an affordable and useful form of psychological support for people across the globe. Integrating cognitive and behavioral approaches, CBT emphasizes the ability to identify and transform negative thought processes and behaviors that cause emotional distress.
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The cognitive behavioral therapy segment was valued at USD 970.50 million in 2018. Online CBT services have become popular because they offer convenience and flexibility. Online CBT benefits of convenience, ease of access, and privacy make it an appealing option for a wide variety of users, from busy professionals to those living in remote areas who lack access to traditional therapy. All these factors will boost the growth of the global market during the forecast period.
Residential use, interaction with the outside world, and normal social life are limited. An integrated wellness approach is nourished to people. Residential services deliver complete detoxification and confront the patient in recreational activities such as exercise, sports, music, and art, which help in recovery. Furthermore, due to the rising frequency of mental health issues among generations, there are now more online therapy resources available. The increase in the number of residential uses will drive the growth of the segment during the forecast period.
The commercial use segment covers a broad range of use issues which are used to support the mental and emotional health of workers, enhance organizational efficiency, and foster a healthier workplace. Supporting employee's mental health and emotional well-being is a top priority for companies across the globe. Furthermore, schools and universities have incorporated to help students manage academic stress, anxiety, and other emotional issues. Similarly, industries like hospitality, retail, and customer service use online therapy platforms to help employees manage the unique pressures and needs of their industries. Hence, these factors will have a positive impact on the market growth during the forecast period.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The growth of the regional market can be attributed to the presence of prominent market players in countries such as the US and Canada. The growing awareness of the importance and the rise in substance abuse is also expected to boost the demand.
In addition, the rising prevalence of mental health disorders across the region is also a major driving factor for the growth of the market. For example, according to the data provided by the Anxiety and Depression Association of America (ADAA) in 2020, anxiety disorders affect 40 million people aged 18 years and above every year in the US. Hence, these factors will drive the growth of the regional market 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.
The market offers a diverse range of solutions to address mental health needs. Through occupational therapy software platforms providing expert mental fitness counseling via messaging apps and live video chat, individuals can access support conveniently from their smartphones. These platforms offer various therapeutic modalities, including cognitive behavioral therapy and psychodynamic therapy, catering to relationship problems, depression, and anxiety. With a focus on patient privacy and the availability of qualified therapists, individuals can engage in teletherapy and telehealth counseling sessions securely. Additionally, mobile health apps and wearable technology enhance access to mental health resources, complementing traditional services provided by clinics and supporting in-person treatment when needed. The online therapy market continues to grow, offering accessible and effective solutions for mental health treatment. Access expert mental fitness counseling conveniently via messaging apps and mobile device apps. Engage in person-centered therapy through online chat or phone conversations, providing accessible support anytime, anywhere. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
The rising prevalence of mental health disorders is the key factor driving market growth. Mental health disorders have been on the rise for the last few years. Stress, depression, and anxiety are just a few of the mental health problems that are impacting people around the globe. This has led to an increase in the demand for reasonable, suitable, and useful services around the globe.
Moreover, mental health disorders are on the rise due to a number of factors. Social pressures, changes in lifestyle, economic uncertainty, and the fast pace of modern life are all factors that can have a negative impact on mental health. Hence, these factors will drive the growth of the global market positively during the forecast period.
Growing government initiatives to support online health services is the primary trend shaping market growth. Governments across the globe understand the significance of convenient and accessible mental health support and are working to create better ways for their citizens to seek professional psychological help through online therapy platforms. One of the biggest benefits of government-led initiatives is that they can help make mental health services more available and affordable.
Moreover, governments can partner with leading online therapy platforms to expand access to mental health services in remote or underprivileged communities. In addition, these initiatives often include subsidizing or covering the cost of therapy sessions. Hence, these factors will drive the growth of the market during the forecast period.
Limited awareness regarding mental health in developing economies is a challenge that affects market growth. Technology has created a lot of progress in bridging many gaps, but there are still differences in terms of information and resources that prevent them from reaching and impacting developing regions. Online mental health resources and their benefits are not as broadly known in many developing nations.
In addition, owing to a number of factors such as limited internet penetration, low smartphone ownership, and lack of digital literacy among some segments of the population, online mental health resources and their benefits are not as broadly known in many developing nations. Thus, such factors may impede the market growth during the forecast period.
The 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
The 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 is experiencing rapid growth, fueled by advancements in technology and increasing mental health awareness. Through platforms offering expert mental fitness counseling via live video chat and messaging apps, individuals can access support conveniently from their cell phones offering Expert mental fitness counselling. From Messaging app that gives traditional in-person therapy to teletherapy sessions facilitated by qualified therapists, various modalities cater to diverse needs. Integration of artificial intelligence-based chatbots and machine learning enhances accessibility, while free therapy apps and evidence-based approaches like dialectical behavior rehabilitation therapy and EMDR therapy provide comprehensive support for mental health treatment. Telehealth adoption continues to rise, addressing concerns about patient privacy and offering solutions for relationship issues and substance abuse disorders. With a focus on young people and suicide prevention programs, the online therapy market transforms mental health care delivery, bridging gaps and promoting well-being worldwide.
The market has evolved to meet the diverse needs of individuals seeking mental health support. Utilizing expert mental fitness counseling via messaging apps accessible on cell phones, clients can engage in real-time instant messaging or video conferencing sessions with certified therapists. Platforms offering online counseling and telehealth counseling provide convenience and accessibility, leveraging smartphone features and digital apps for seamless interaction. For those requiring more intensive support, options like family therapy address relationship problems and other challenges. Additionally, advancements in wearable technology and mobile health apps offer innovative solutions, complementing traditional services provided by clinics, ambulatory centers, and hospitals, which may include telemedicine, in-person treatment and prescription medications. With a focus on meeting individuals where they are, the online therapy market continues to expand, bridging gaps in mental health care delivery and promoting overall well-being.
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 market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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
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