Covina, Aug. 27, 2024 (GLOBE NEWSWIRE) — According to Prophecy Market Insights, the global Mental health apps market size and share The value is expected to rise from USD 4.1 billion in 2022 and It is forecast to reach USD 17.46 billion by 2032with a average annual growth rate (CAGR) of 15.8% during the forecast period (2022 – 2032).
Mental Health Apps Market Report – Overview
Mental Health App is a digital platform that provides users with tools and resources to help them manage and improve their mental wellbeing. These apps offer a wide range of services, from guided meditation and mindfulness exercises to cognitive behavioral therapy (CBT) techniques and mood tracking.
These apps can be accessed through smartphones and other mobile devices. Mental health apps are becoming increasingly popular for individuals seeking support, managing stress, and improving their mental health, often complementing traditional therapy methods.
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Our free sample report includes:
- Overview & introduction of the market study
- Market revenue and CAGR
- Drivers and inhibiting factors of the market
- Major players in the market
- Regional analysis of the market with detailed graphics
- Detailed tabular segmentation of the market
- Current developments/news from the market
- Market opportunities and challenges
Competitive landscape:
The mental health apps market is characterized by rapid growth, technological innovations, and strong competition. Companies are expanding their global presence, focusing on sustainability, and diversifying their service offerings to remain competitive.
Some of the key market players:
- Sanvello Health Inc.
- Addicaid
- Silver Cloud Health Inc.
- Headspace Inc.
- Aurora Healthcare
- Happify Inc.
- 7 cups of tea
- Mood Mission Pvt Ltd.
- Ustwo Family Ltd.
- NOCD Inc.
- Discussion forum
- Calm.com Inc.
- World of Thought
- Flow and Youper Inc.
- Recovery Record Inc.
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Analyst view:
Mental health apps offer a scalable and cost-effective solution that allows users to access mental health support from the comfort of their own home. This demand is particularly strong among younger people, who are more comfortable with digital platforms and more likely to seek help through mobile apps.
Market dynamics:
Driver:
Increasing demand for accessible mental health care
- The growing need for easily accessible and affordable mental healthcare solutions is one of the major factors driving the target market. Many people cannot afford traditional mental healthcare services due to high fees, regional restrictions, and availability of professionals.
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Market trends:
Integration of AI and personalization
- Combining artificial intelligence (AI) and machine learning to offer customized mental health experiences is a major trend affecting the target market. By using these technologies, apps can now evaluate user data and behavior to provide personalized recommendations, monitor user progress, and also gradually adapt to each user’s needs.
Segmentation:
The mental health apps market is segmented by type, subscription, application, and region.
Type Insights
- This industry includes: Android, iOS and others. Android is expected to dominate market growth as Android devices are often cheaper than iOS devices and thus are accessible to a wider segment of the population, including users from lower income groups.
Subscription insights
- Free apps are expected to boost the growth of the target market as free mental health apps provide instant access to essential mental health resources without any financial hurdles and are therefore extremely attractive to a broad user base.
Application insights
- Anxiety is expected to drive growth in the target market because the nature of anxiety makes it particularly suitable for digital interventions. Many people with anxiety benefit from the flexibility and anonymity offered by mental health apps.
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Recent development:
- In April 2024 To address the critical needs of mental healthcare, Adayu Mindfulness, a subsidiary of Fortis Healthcare Group, has partnered with United We Care, a deep-tech company, to produce ‘Adayu’, a free app. This new project not only demonstrates the company’s commitment to tackling the widespread problem of mental health but also an innovative approach by leveraging AI technology in conjunction with United We Care.
Regional insights
- North America: The demand for remote healthcare solutions and the rising prevalence of mental disorders have led to a significant increase in the use of mental health applications in the United States. The North American digital health market is growing thanks in part to the financing and investment opportunities available to companies in this space.
- Asia-Pacific: This region is emerging as a significant market for mental health apps due to rising mental health awareness, increasing smartphone penetration, and the growing need for mental healthcare solutions in populous countries such as China and India.
Browse the detailed report on “Mental Health Apps Market Size and Share by Type (Android, iOS and Others), by Subscription (Paid Apps, Free Apps), by Application (Depression, Stress Disorder, Anxiety Disorder, Addictive Disorder, Cognitive Behavioral Disorder, Schizophrenia and Others) and by Region – Trends, Analysis and Forecasts to 2032” with complete table of contents @ https://www.prophecymarketinsights.com/market_insight/Mental-Health-App-Market-4939
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