Emerging Mental Health Device and Platform Market Scope
Technology-based evaluations are gaining traction as key therapeutic tools for tracking an individual's mental health. Early identification of a person's mental health is becoming increasingly crucial to preserve the individual's life, therefore mental health gadgets and platforms help gather information, assess a person's behavior, and have huge growth potential. The most significant element contributing to the expanding demand for Mental Health Devices & Platforms is the growing workload and increasing stress levels at workplaces, which encourage the severity of mental diseases.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | AbleTo, Inc. (United States), Calm (United States), Electromedical Products International, Inc. (United States), HAPPIFY HEALTH (United States), Headspace Inc. (United States), Lyra Health, Inc. (United States), Monsanto A/S (United States), Neuronetics (United States), Pear Therapeutics, Inc. (United States) and Psious (Spain) |
CAGR | % |
Mergers and acquisitions, expansions, investments, new service launches, and collaborations are some of the companies' preferred market-exploration strategies. To Competitive advantage through synergy, players are growing and acquiring businesses in new geographies. The company is contributing its share to growing the market. In Oct 2020 COVID-19 Behavioural Health Indicator (COBI) was developed by Bright-line Medical Associates, Inc. to aid parents in monitoring their children's mental health. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Emerging Mental Health Device and Platform market throughout the predicted period.
AbleTo, Inc. (United States), Calm (United States), Electromedical Products International, Inc. (United States), HAPPIFY HEALTH (United States), Headspace Inc. (United States), Lyra Health, Inc. (United States), Monsanto A/S (United States), Neuronetics (United States), Pear Therapeutics, Inc. (United States) and Psious (Spain) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Quartet Health (United States), Talkspace (United States), Teladoc Health, Inc. (United States) and Ybrain, INC. (South Korea).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Emerging Mental Health Device and Platform market by Type , by Application (Stress, Anxiety, Depression, Bipolar Disorder, Schizophrenia and Others) and Region with country level break-up.
On the basis of geography, the market of Emerging Mental Health Device and Platform has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In July 2023, Samsung teams up with Calm to integrate mindfulness content into Galaxy Watch devices. This partnership brings Calm's soothing meditation and sleep sounds to Samsung smartwatches, promoting on-the-go mental wellness practices.
In October 2023, Boosted launches a mental health platform for employers: This platform provides employees with access to mental health resources, therapist consultations, and personalized support programs, aiming to improve employee well-being and reduce mental health stigma in the workplace.
Influencing Trend:
Increasing Digitization and High Demand for Online Platforms
Market Growth Drivers:
Funding Activity in the Digital Mental Health Landscape Is Growing and Emerging Markets Are Increasingly Using Digital Mental Health Solutions
Challenges:
User Data Privacy or Security Concerns and Increasing Competitions among the Manufactures
Restraints:
Huge Shortage of Clinically Validated Scientific Data
Opportunities:
Development of Portable Mental Health Devices in Developing Countries and Novel Therapies for Mental Illness Treatment
Key Target Audience
Industry Association, Downstream Vendors, Marketing & Consulting firms, Venture Capitalists, Government & Regulatory Bodies and Investors