Mental Health Apps Market Overview:
A research team conducted extensive primary and secondary research for the Mental Health Apps market analysis of the global industry. Secondary research was conducted to supplement the available information, segment the market, calculate the overall market size, and forecast market size and growth rate.
The mental disease affects people throughout the world, but it is especially prevalent in the United States. In 2020, 51.5 million individuals in the United States were affected by mental disorders such as anxiety, schizophrenia, and significant depression, according to data, and 43.6 percent of the population received treatment for mental illnesses. The desire for speedier treatment grows as the number of people suffering from mental illnesses climbs. Digital healthcare technologies can boost treatment efficiency while cutting costs to tackle this challenge. Over 300,000 health applications are already accessible in app stores throughout the world, with the mental health apps market witnessing the highest growth.
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Mental Health Apps Market Dynamics:
The mental health apps market is rising as individuals become more aware of the importance of mental health and as a result of the debut of several mental wellness applications. The introduction of significant health initiatives such as Campaign against Living Miserably (CALM) to promote awareness about mental health, as well as the rising usage of connected gadgets among the youthful population, is driving up market value. Additionally, poor work-life balance and eating habits, hectic schedules, social isolation, and relationship issues are all key factors that are increasing the risk of mental illness among individuals all over the world, particularly in developed and developing regions. Besides, it is expected that increased awareness among individuals in emerging countries, as well as the creation of updated and advanced featured apps, would provide prospective opportunities during the forecast period.
Mental Health Apps Market Segmentation:
By platform type, the iOS market held a commanding lead in 2021, accounting for roughly 45.0 percent of all sales. The greater acceptance of iOS among consumers can be credited with the segment’s growth. Business of Apps data from 2021 shows that iOS’s market share in the UK rose from 47 percent in Q3 2020 to 51.6 percent in Q3 2021.
The depression and anxiety management category dominated the market for mental health apps by application type in 2021, accounting for more than 25.0 percent of market revenue. Increased awareness of mental health treatments for these issues, as well as an increase in the prevalence of anxiety and depressive disorders, are some of the main factors driving the segment growth.
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Mental Health Apps Market Key players:
- 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)
- Sanvello (Minneapolis)
- Talkspace Network (New York)
COVID-19 Impact on Mental Health Apps market:
The COVID-19 outbreak has had a significant impact on the Mental Health Apps market. Due to the global economic downturn and a labour shortage, the development of Mental Health Apps production facilities has been put on hold. The COVID-19 pandemic has caused a significant and sustained decline in production utilisation. Additionally, staff visits to their facilities have been hindered by travel restrictions and facility closures, which will restrain the growth of the Mental Health Apps market in 2020. However, given the high demand for Mental Health Apps, the market effects of COVID-19 are anticipated to be transient. By the beginning of 2021, the industry is anticipated to fully recover.
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