The global mental health apps market is projected to rise at a healthy rate from 2021 to 2031.
The global mental health apps market is projected to rise at a healthy rate from 2021 to 2031 (forecast period). Mental health apps are intended to assist users in becoming more self-aware by giving them the ability to manage their moods, maintain good habits while eliminating negative ones, and promote positive thinking. Severe mental illnesses targeted by mental health apps include personality disorders, mood disorders, psychotic disorders, trauma-related disorders, anxiety disorders, drug abuse disorders, and eating disorders.
The rising use of mental health apps due to their advantages in improving treatment results and lifestyle and increased awareness of mental health as a serious health problem are some of the main factors expected to drive the global mental health apps market.
Mental Health Apps Market – Competitive Landscape
Leading players in the mental health apps market are Headspace Inc., MoodMission Pty Ltd., Sanvello Health, Mindscape, Calm, and Flow and Youper, Inc.
Due to increased demand for mental health apps and technical improvements, competition among current companies is fierce. Strong demand for mental health applications is expected to encourage the introduction of newer firms in the future, owing to increased awareness and adoption of digital and mobile health technologies.
Moreover, firms’ strategic innovations and activities in the form of product launches, mergers, acquisitions, and collaborations are expected to increase competition and drive market growth. For example, in 2021, Headspace formed a relationship with Whole Foods, bolstering its position in the expanding mental health app space.
Mental Health Apps Market – Trends and Opportunities
The increased public awareness of the significance of mental health and the emergence of several mental wellness applications are projected to drive the global mental health apps market. Moreover, the introduction of significant health initiatives such as the Campaign Against Living Miserably (CALM) to increase awareness about mental health and the growing usage of connected devices among the youthful population is increasing the sales of mental health apps market. Furthermore, poor eating habits and work-life balance, busy schedules, social alienation, and interpersonal issues are some of the primary factors raising the likelihood of mental illness among individuals worldwide, particularly in developed and emerging nations. Additionally, rising awareness among individuals in emerging economies and the introduction of updated and advanced-featured apps are expected to generate future opportunities for the global mental health apps market during the projected period.
Other notable reasons likely to drive the global mental health apps market include an increase in downloads for mental health applications and a spike in downloads during the COVID-19 outbreak. The COVID-19 outbreak not only raised downloads of mental health applications but also raised awareness of mental health as a serious issue. As a result, there is significant development potential in the digital health and mobile health industry. As per ORCHA (Organization for the Review of Care and Health Applications) data, mental health app downloads in the United Kingdom climbed by roughly 200% during the COVID-19 crisis.
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Mental Health Apps Market – Regional Landscape
The North America mental health apps market is anticipated to expand during the forecast period. Significant factors such as increasing smartphone use, advancements in coverage networks, and increased internet and social media penetration are the main aspects likely to boost the regional market. As per the GSMA’s The Mobile Economy Report 2021, smartphone usage in North America was over 80% in 2020 and is anticipated to reach 85% by 2025.
The Asia Pacific mental health apps market is projected to develop throughout the forecast period, owing to increased demand for connected devices and the region’s increasing smartphone use. Moreover, numerous nations in the area are embracing digital health and mobile health technologies to improve results and manage healthcare delivery. As a result, such activities are expected to increase the demand for mental health apps throughout the forecast period.
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