The Mental Health Apps Global Market Report 2023 by The Business Research Company, provides mental health apps market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Mental Health Apps Global Market Report 2023, the global mental health apps market size will grow from $5.49 billion in 2022 to $6.36 billion in 2023 at a compound annual growth rate (CAGR) of 15.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of thr mental health apps is expected to grow to $11.62 billion in 2027 at a CAGR of 16.3%.
The increasing awareness about mental health and its significance is propelling the growth of the mental health apps market. Increasing openness about mental health by sports personalities and celebrities has reduced the stigma and increased awareness about mental health and its importance on one’s health across the globe. Additionally, individuals with mental health-related problems are investing in various recovery therapies such as medical consultations, mental health apps, self-help books, and others.
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The mental health apps market is segmented:
1) By Platform Type: iOS, Android, Other Platform Types
2) By Application Type: Depression and Anxiety management, Meditation Management, Stress Management, Wellness Management, Other Application Types
Technological advancement is a key trend gaining popularity in the mental health apps market. Major companies operating in the mental health apps market are focused on providing technologically-advanced solutions to meet end-customer demands and strengthen their market position. These companies are implementing next-generation technologies into their services, such as CRM, video API, text API, and end-to-end patient engagement through AI and ML and others. For instance, In January 2021, Moody, a health care company, launched an intelligent mental health care app that can identify and alert the user about psychological changes in their behaviour ahead of time and recommend corrective actions daily. It allows the user to create daily journal entries with memories such as pictures, attachments, and others.
The mental health apps market report table of contents includes:
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Top Major Players
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