Mental Health Apps Market Report - Industry Size and Global Share 2021: Business Expansion Strategies, Growth Dynamics, Opportunities and Challenges Forecast to 2027
Mental Health Apps Market is expected to grow at a CAGR of 20.5% from 2021-2027 to reach US$ 3.3 billion by 2027. Mental Health Apps is the distribution of mental healthcare facilities, in the form of digital applications. As the number of patients suffering from mental illnesses increases due to the increase in geriatric populations and hectic lifestyles, the need for quicker healthcare is required. To address this issue, digital healthcare tools are offering several apps to scale up the treatments for patients. Further, the government across the regions has introduced certain key policies to regulate this sector and offer people a safer platform that resolves their treatments need and ailments.
Various factors driving the mental health
apps market include the Increasing cases of COVID-19 infection over the world and the technological advancement in the mobile
phone and internet segment. Furthermore, the rising government
funding and initiatives for mental health apps are also anticipated to drive
the market. There are currently over 300,000 health applications in the
mobile app stores worldwide, with the mental health segment accounting
for the largest growth in the market.
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Mental
Health disorders are nowadays considered an important health condition by the
World Health Organization (WHO), therefore mental health-related campaigns are
held all around the globe. In January 2020 for instance, Luxembourg League for mental
health started a new awareness campaign to assist individuals to treat mental
health issues. Another reason for its growth is the social stigma that earlier
constantly revolved around mental health is finally starting to evaporate and
more and more people now are accepting their mental conditions.
Covid-19 suddenly boosts the digital market as the lockdown was
imposed globally. All activities need to be digitalized to reach the masses, which
drives the mental health apps market too. The top 20 mental wellness apps
in the U.S. hit 4 million first-time downloads in April 2020. That is a 29% increase
from 3.1 million in January. In fact, during the pandemic, many coronavirus
health apps were made mandatory by the government. The Indian Covid-19 tracker
government app had 127.6 million total downloads in July from both iTunes and Play
Store of which 80.8 million downloads were in April itself.
Based on
Operating System, the market is fragmented into Android, iOS, and Others. The iOS
market was seen to contain a higher number of apps as compared to the Android
market in 2020. There are about 100 new healthcare apps added to the Appstore's
every year. In the past decade, there has been rapid revolutionizing progress
and acceptance of these apps by consumers. This is causing a boom in the market
especially for depression and anxiety apps which are the most common mental
health disorders found in the affected countries.
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Based on Applications, the market is
segmented into Mental Disorder Apps, Substance-Use Disorder Apps, Co-Occurring
Disorder Apps, and Others. Depression and anxiety are the most common mental
health disorders in both men and women. Substance-Use disorders are more common
in men than women and thus are more likely to use those apps.
Additionally, the report provides detailed
initiatives that are being taken in the field of the Mental Health Apps Market.
The market is classified into distinct regions North
America (United States, Canada, and the Rest of North America), Europe
(Germany, France, Italy, Spain, United Kingdom and Rest of Europe),
Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World.
North America dominated the market and generated maximum revenue in 2020 owing
to the increasing teleconsultation and higher healthcare spending.
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Some
of the major players operating in the market include CVS Health, Aurora Health
Care, Calm, Addicaid, Headspace Inc., NOCD Inc., Happify Inc., 7 cups of Tea,
Sanvello, Talkspace Network. Several M&As along with partnerships have been
undertaken by these players to develop Mental Health Apps Market.
Mental Health
Apps Market Segmentation
Market Insight,
by Operating System
· iOS
· Android
· Others
Market Insight,
by Payment Mode
· Free Apps
· Paid Apps
Market Insight,
by Subscription Model
· Monthly
· Yearly
Market Insight,
by Application
·
Mental Disorder Apps
·
Substance-Use Disorders Apps
·
Co-Occurring Disorders Apps
·
Others
Market Insight,
by Region
· North America
o United States
o Canada
o Rest of North America
· Europe
o France
o Germany
o Italy
o Spain
o United Kingdom
o Rest of Europe
· Asia-Pacific
o China
o Japan
o India
o Australia
o Rest of Asia-Pacific
· Rest of World
Top Company
Profiles
·
CVS Health
·
Aurora Health Care
·
Calm
·
Addicaid
·
Headspace Inc.
·
NOCD Inc.
·
Happify Inc.
·
7 cups of Tea
·
Sanvello
·
Talkspace Network
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and primary research on the market is our USP, hence information presented in
our reports is based on facts and realistic assumptions. We have worked with
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