Pune, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Mental Health Apps Market Size Analysis:
According to SNS Insider, the Mental Health Apps Market Size was valued at USD 6.10 billion in 2023. It is to grow strongly and is pegged to be at USD 22.3 billion by 2032 with a healthy CAGR of 15.5% during the forecast period from 2024 to 2032. Gains will be led by increasing awareness of mental health issues, increased smartphone penetration, and technological advancements in-app features. With mental health high on the list, digital solutions are offering accessible, scalable, and supportive avenues to mental wellness.
Market Snapshot
The mental health apps market is evolving rapidly considering increased demand for convenient, accessible support for mental health. Increased awareness of mental illness and the growing adoption of smartphones are driving the robust growth in the market. This growth has been fueled by the ability of mental health apps to provide contemporaneous support and resources in a way of enhances access to mental health care. Buoying the supply side are technological strides, which are now allowing more advanced features in such apps, such as AI-driven therapy and personalized management tools for mental health. As the number of people diagnosed with mental health conditions grows around the world, both the supply and demand sides will be set up for expansion in this market. According to research, it shows about 280 million people are suffering from depression worldwide, making an immediate requirement for developing new mental health solutions.
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Key Mental Health Apps Market Players:
- Mindscape
- Calm
- MoodMission Pty Ltd.
- Sanvello Health
- Headspace Inc.
- Youper, Inc.
- Happify
- Bearable
- BetterHelp
- Talkspace
- MindShift
- MoodKit
- Others
Mental Health Apps Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 6.10 Billion |
| Market Size by 2032 | US$ 22.3 Billion |
| CAGR | CAGR of 15.5% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segment Analysis
By Platform Type
Market Dominant Segment: Ios
In 2023, iOS accounted for 48.9% of revenue. This is a result of having the highest rate of adoption of iOS devices and the recent enhancements in Apple's ecosystem, including new mental health features added to iOS 17 and iPad OS 17. Such updates offer users more advanced tools to monitor mental health, analyze emotions, and open access to resources. This integration has made iOS the best mental health application on most mobile platforms, contributing to the ownership of the majority of the market share.
Fastest-Growing Segment: Android
The segment of Android is expected to grow at the highest CAGR during the forecast period. The reason is mainly due to the huge adoption of Android-based smartphones worldwide, primarily because of low cost and wide geographical reach. With an estimate of more than 3.9 billion Android users by 2024, the platform promises to have a vast growth possibility. Also, the sheer number of apps across Google Play and increased sales of Android devices push the growth in this segment at an aggressive rate.
Application-based Approach
Leading Application Segment: Management of Depression and Anxiety
In the 2023 market, depression and anxiety management apps were the largest contributors at 29.3% in terms of revenues. This segment is mainly driven by the growing prevalence of both anxiety and depressive disorders accompanied by increased awareness of mental health apps as a viable solution. The World Health Organization points out that about 280 million people live with depression worldwide, effectively creating a huge demand for effective management tools.
Mental Health Apps Market Key Segmentation:
By Platform
- iOS
- Android
- Others
By Application
- Depression and Anxiety Management
- Meditation Management
- Stress Management
- Wellness Management
- Others
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Geographic Analysis
Leading Market: North America
The largest market share for mental health apps is in North America. This is primarily because of high adoption rates, technology advancements, and a greater awareness of the issues related to mental health. The dominant leadership provided by prominent companies and advanced infrastructure further add strength to the position of the region's market. Major companies include Headspace and Calm, which are headquartered in the U.S., have significantly increased their market position in the region due to their innovative features of the app and extensive number of users.
Key Developments
In September 2023, Headspace collaborated with One Medical, an in-office and virtual primary care provider in the U.S. This collaboration will help in developing solutions to reduce anxiety and increase awareness of preventive health screenings.
In February 2023, Talkspace launched Talkspace Engage, a platform that will provide corporate clients with mental well-being services.
Key Takeaways
- The market for mental health apps is rapidly growing based on technological advancement and increasing awareness of psychological problems.
- It has been proven that iOS is the leading platform, and however, Android has higher growth potential compared to others.
- The application for depression and anxiety management is the leading market as stress management apps have a higher growth rate.
- North America is still the leading market, and in terms of the growth rate, Asia-Pacific is rising fast.
- Recent innovations and new product launches are improving the features and the aesthetics of mental health apps.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
- Adoption Rates, 2023
- User Demographics, By User Platform Type and Roles, 2023
- Feature Analysis, by Feature Platform Type
- Cost Analysis, by Software
- Integration Capabilities
- Regulatory Compliance, by Region
6. Competitive Landscape
7. Mental Health Apps Market Segmentation, by Platform
8. Mental Health Apps Market Segmentation, by Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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