Mental Health Apps Market Overview:
The purpose of this study is to provide an in-depth analysis of the Mental Health Apps market by component, application, industry, and geography. The study provides detailed information on the major factors influencing the growth of the Mental Health Apps industry. The study also provides a thorough examination of the market’s value chain.
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:
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. They’re generally easy to use and integrate into daily routines, require little effort, provide a joyful experience, and, most importantly, work. They’re also less prone to disruption than traditional therapies, while they’re not a replacement for professional mental health care. All of these reasons are anticipated to contribute to their growing popularity, which is expected to fuel mental health apps market growth throughout 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:
- 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)
COVID-19 Impact Analysis on Mental Health Apps Market:
COVID-19 is a historic global public health emergency that has impacted virtually every business, and the long-term consequences are expected to have an impact on industry growth throughout the projection period. Our ongoing research expands our research methodology to include basic COVID-19 concerns as well as potential next steps. The research sheds light on COVID-19 by taking changes in consumer behaviour and demand, purchasing patterns, supply chain re-routing, the dynamics of modern market forces, and significant government initiatives into account. Based on the market impact of COVID-19, the updated report includes insights, analysis, projections, and predictions.
About Stellar Market Research:
Stellar Market Research is a market research and consulting firm that provides syndicated and custom research reports in addition to consulting services. The main goal of the company’s products is to assist businesses in identifying, focusing on, and analysing changes in consumer behaviour across demographics and industries to assist them in making better business decisions. In order to provide relevant and fact-based research, the company conducts market intelligence studies in a variety of industries, including healthcare, touch points, and energy. With experience in many different industries, Stellar Market Research has a sizable staff of highly qualified analysts. Clients can gain a competitive advantage over their rivals thanks to the company’s subject-matter expertise and capacity to provide a workable solution to any research problem.
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