The Fact.MR market study on the mental health apps market provides deep dive into key developments in the mental health apps market.
The North American Mental Health App Market Account For 36% Of The Market Share In 2022
The Fact.MR market study on the mental health apps market provides deep dive into key developments in the mental health apps market. The report offers a comprehensive analysis of leading segments in terms of platform type, and application type.
Fact.MR – A Market research and competitive intelligence provider: The global market for mental health apps was valued at US$ 6.2 Bn in 2022 and the market is foreseen to close in on a valuation of US$ 30 Bn by the end of 2032, increasing the market size at a CAGR of 17% during the same period.
With the imposition of a global lockdown, prospects for mental health apps risen significantly during the COVID-19 pandemic. Digitalization became more eminent as companies began shifting extensively to the digital world, which led to huge growth in the mental health apps market.
Additionally, mobile phone penetration is growing globally. Approximately 5.2 Bn mobile phones are being used around the globe, and Android dominates this market.
Improving lifestyles and fast-paced lives have contributed to the rising market demand for virtual therapy in the market.
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Several factors encourage the demand for mental health apps, such as surging in stress levels in society caused by drug addiction, an increased incidence of mental health conditions, international awareness programs being promoted by the World Health Organization (WHO), and 24x7 support on the online platform.
The mental health of youngsters in the United States and other countries is in jeopardy. In the United States, 21.8% of children aged 3 to 17 have at least one mental, emotional, or behavioural health problem. According to a report, mental health problems affect 15 to 60% of youngsters in the United States, with the risk growing as the nature and intensity of the children’s exposure to these dangers increases.
Increasing stress levels and changing lifestyles have collapsed health among people. Companies nowadays offer employee insurance benefits that usually include subscriptions to top mental health apps, such as top mental health app subscriptions.
| Report Attributes | Details |
| Market Value for 2021 | US$ 5.3 Bn |
| Expected Market Size in 2022 | US$ 6.2 Bn |
| Projected Market Valued in 2032 | US$ 30 Bn |
| Growth Rate (2022-2032) | 17% CAGR |
Key Takeaways:
- The North American mental health app market account for 36% of the market share in 2022.
- The U.S. is holding an eminent market share accounting for 78.1% and is expected to reach a market valuation of US$ 530.5 Mn by the end of 2031.
- Mental health app demand in Japan is expected to grow 5.2x by 2032. The market is estimated to account for a market valuation absolute dollar opportunity of US$ 8.2 Mn over the next ten years. As a result of the large working population, mental health apps account for over 14% of the share market of the global market in China.
- By platform type, android mental health apps shall comprise the bulk of the market revenue, accumulating over 74% of the market share as of 2022.
- By application type, depression and anxiety mental health apps are expected to remain prevalent with a revenue share of over 30% has been forecast for this segment.
Growth Drivers:
- Improving lifestyles and fast-paced lives have contributed to the surge in mental health apps market demand for virtual therapy in the market.
- Millennials and young generations have an increasing level of stress, which has led to a rising in the market demand for mental health apps in the market.
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Competitive Landscape:
The competitive landscape of the Mental Health Apps Market focuses on improving lifestyles and fast-paced lives have contributed to the increasing market demand for virtual therapy in the market.
- In April 2021, Offshore Titans, an online platform aimed at promoting mental health in the oil and gas industry, teamed up with the developer of a mobile app that reduces workplace stress. By using the app, workers will have the opportunity to inform their employer of any issues or concerns in real-time, anonymously.
- In August 2021, K Health, a digital primary care platform providing high-quality, individualized healthcare to millions of adults and children, announced the acquisition of Trust, an app that connects consumers and providers of on-demand text-based therapy.
Key Companies Profiled by Fact.MR
- Calm
- MoodMission Pty Ltd.
- Sanvello Health
- Headspace Inc.
- Flow and Youper Inc.
- MoodTools
- Talkspace
More valuable insights on the Mental Health Apps Market:
Fact.MR, in its report, offers a market analysis of the global Mental Health Apps Market the forecast period through 2022 and beyond. This survey reveals the growth of health area in the mental health apps Market with detailed segmentation as follows
- By Platform Type
- Mental Health Apps for Android
- Mental Health Apps for iOS
- Mental Health Apps for Other Platforms
- By Application Type
- Mental Health Apps for Depression and Anxiety Management
- Mental Health Apps for Stress Management
- Mental Health Apps for Meditation Management
- Mental Health Apps for Wellness Management
- Mental Health Apps for Other Application Types
Key Questions covered in the Mental Health Apps Market Report
How much is the mental health apps industry expected to be worth in 2022?
At what rate did the market for mental health apps expand from 2015 to 2021?
What was the mental health apps industry value in 2021?
What is the expected market value for mental health apps in 2032?
How opportunistic is the market for mental health apps in North America?
What are the growth prospects for the market in the Asia- Pacific?
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