About Mental Health Apps
Mental health apps target a broad range of physiological disorders and vary in design and functionality. The tool represents tracking users’ mood patterns, stress levels, or various other data that is vital for mental health. The aim of mental health apps is to monitor people’s mood swings, cultivate positive thinking, break a bad habit, etc. There are a wide range of advantages to mental health apps, including enhancing patients’ awareness, improving client functioning, and supplementing the threptic relationship. Increasing importance of mental health is one of the key factors in that market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 16.0% |
Competition among existing players is due to the stiff market share occupied by leading players. The companies are implementing strategic activities such as acquisition and mergers along with collaboration with companies in other industries to help them in improving sustenance and maintaining their competitive advantages. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Calm (United States), Mindscape (France), Headspace Inc (United States), Moodmission (Australia), Talkspace (United States), Mindtools. Io (United Kingdom), Roble ridge software LLC (Lebanon), Happify Inc (United States), NOCD Inc (United States), Anxiety Canada (Canada), Circles (United States), Better help (United States) and Sanvello health (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Mental Health Apps market by , Application (Depression and Anxiety Management,, Stress Management, Meditation Management and Others) and Region.
On the basis of geography, the market of Mental Health Apps has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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). If we see Market by Deployment Mode, the sub-segment i.e. On-Premises will boost the Mental Health Apps market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User , the sub-segment i.e. Home Care Settings will boost the Mental Health Apps market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organization Size, the sub-segment i.e. SMEs will boost the Mental Health Apps market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Platform , the sub-segment i.e. Ios will boost the Mental Health Apps market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Subscription, the sub-segment i.e. Yearly will boost the Mental Health Apps market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Personalization and AI integration and Focus on preventative care
Market Growth Drivers:
Rising awareness of mental health and Increased smartphone penetration and internet access
Challenges:
Data privacy and security concerns, Limited clinical evidence for some apps and Lack of regulation and standardization
Restraints:
Potential expense of in app purchase. and Poor regulation of quality and privacy
Opportunities:
Expansion into new markets and Partnerships with healthcare providers and insurers
Market Leaders and their expansionary development strategies
In July 2023, Big Health, one of the leading companies producing apps to help treat mental health conditions, acquired Limbix, a developer of prescription apps for adolescent depression. This acquisition accelerated the growth of apps for companies. and In September 2022. Headspace health has acquired the shine, a mental health and wellness app dedicated to providing an inclusive mental health experience. The acquisition continuing importance of infusing diversity, equity, offering and experiences that can bring to customers and members.
In August 2023, Swiss re insurance and Wysa has launched an AI based mental health support app. The app integrates Swiss Re's risk expertise and proprietary scoring system and Wysa's AI-powered mental health solutions to meet the needs of insurers and their customers, with opportunities to develop similar partnerships in other markets. and In February 2023, Talkspace a leading provider of virtual behaviour health service has launched Talkspace engage. The innovative new portal is designed to provide people leaders and HR teams with access to a full library of clinical resources and a simplified "one-click" system that allows them to promote mental wellbeing and drive utilization of the company’s available mental health services, including their Employee Assistance Programs (EAPs) and Talkspace services.
Key Target Audience
Government regulatory, Research organization, End-Users Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.