Mental Health Apps Market size was valued at US$ 1.59 Billion in 2022 and the Mental Health Apps revenue is expected to grow at 20% through 2023 to 2029, reaching nearly US$ 5.89 Billion.
The research report on the Australian Mental Health Apps market offers extensive details on the market’s size, rate of growth, revenue, trends, and potential in addition to a forecast for the years up to 2029. The major factors influencing the development of this industry have also been fully considered. The results of this study, which involved a thorough quantitative examination of the market, can be used to create policies that would encourage productivity and growth.
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Mental Health Apps Market Overview:
The most recent drivers, restraints, and opportunities in the Australian Mental Health Apps industry are the main subjects of the in-depth corporate business research of the Australian Mental Health Apps market. The outcomes were then verified by contacting well-known businesses. The secondary inquiry and analysis of these data sources use both commercial and free data sources. Reliable data sources, official government sources, and, in the case of publicly traded companies, financial reports of the company are used to compile information on each player’s supply and consumption. Financial records may be requested by the local government’s tax division even if they aren’t typically available to the general public.
COVID-19 Impact:
The analysis provides more precise and true estimations in keeping with the realities of the market by looking at the current and possible effects of the COVID-19 pandemic on the larger market. The massive spread of the coronavirus is causing distress. Social segregation laws, such as lockdowns, are present in nearly every nation. Major supply interruptions have resulted from this. Globally, social systems have changed as a result of the disease’s broad consequences. COVID-19 has an impact on the entire market, and that impact will get stronger in 2019 and 2020 in keeping with the market’s rate of growth. The COVID-19 event has forced enterprises to manage risk and digitize operations in order to give trustworthy information and experiences to decision-makers. This is in line with the most recent SMR assessments, studies, and recommendations addressing management issues that are very important for organizations and businesses and have a significant effect on the market.
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Mental Health Apps Market Key players:
Calm (United States)
MoodMission Pty Ltd. (Australia)
Sanvello Health (Minnesota)
Headspace Inc. (United Kingdom)
CVS Health (United States)
Aurora Health Care (United States)
Addicaid (New York)
Happify Inc. (New York)
Key company and market share insights:
For the public’s advantage, the top rivals are highlighted in this instance. In order to keep their market-leading positions, large companies often make important strategic decisions, such as improving their product portfolios, M&A deals, partnerships, cutting-edge product development, and international growth. The report contains the company’s objectives as well as significant financial data and original insights. Users can also get information on the companies’ global sales, revenue, and profit margins for the years 2017 through 2022.
Mental Health Apps Market Dynamics:
Though $500 million may not seem like much in contrast to the estimated US$1.6 billion global markets for health and wellness apps in 2021, it’s substantial given that many emotional and mental well-being apps are free or inexpensive.
Mental Health Apps Market Segment:
By Application Type, with a revenue share of more than 25.0 percent in 2021, the depression and anxiety management segment dominated the mental health apps market. The rising frequency of anxiety and depressive disorders, as well as increased awareness of mental health applications for the treatment of these problems, are some of the major factors driving the segment growth.
Regional Analysis:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
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