Global Mental Health Apps Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Platform, Application & Region (North America, Europe, APAC, Latin America, Middle East and Africa) – Industry Forecast (2024 to 2029)

Updated On: June, 2024
ID: 12884
Pages: 190

Global Mental Health Apps Market Size (2024 to 2029)

The global mental health apps market was valued at USD 6.63 billion in 2024 and is projected to grow at a CAGR of over 16.5% during the forecast period and be worth USD 14.23 billion by 2029.

Current Scenario of the Global Mental Health Apps Market

Mental health problems are characterized by low mood, absence of positive emotions, and various associated cognitive, emotional, and behavioral symptoms. Apps work because they're easy to use, make symptom management more accessible, and increase participation in treatment plans. Mental health apps help improve the monitoring and management of mental health issues. These apps allow users to improve their self-awareness by managing their moods, maintaining good habits, breaking bad ones, and cultivating positive thinking.

MARKET DRIVERS

The growing usage of mental health apps due to the benefits associated is a key factor propelling the mental health apps market growth worldwide.

Growing lifestyle changes and rising developments in emerging nations are further anticipated to boost the market's growth rate during the forecast period. In addition, the YOY rise in the incidence of mental disorders and YOY growth in the aging population are further favoring the growth of the mental health apps market.

An influx of apps offering virtual therapy for mental health is further accelerating the market's growth rate.

Experts and business leaders have highlighted the value of mental health and well-being for workers in various companies over the past century. Schools and institutes are collaborating with software developers to help students manage stress during their studies. Modern lifestyles and hectic lives have influenced the growing need for the virtual treatment market. Mobile phones have also improved the productivity of many professions and turned them into valuable tools.

The adoption of mental health apps is further fueled by shifting healthcare trends away from traditional treatment models towards patient-centered and individualized care. Mental health management apps, such as anxiety, depression, meditation, and wellness, help maintain overall health, encourage a healthier lifestyle and reduce stress, thereby driving the market. Additionally, growing funding opportunities for developing various mental health applications signify growth opportunities for the market.

MARKET RESTRAINTS

The primary factor restraining the market is connectivity issues.

Even at present, many areas have connectivity issues. Running mental health apps through low-speed connectivity on smartphones may hamper the growth of the mental health apps market. Moreover, the lack of smartphones in some underdeveloped regions is another factor since every individual does not use smartphones. Also, the increase in smartphone prices with new developments and technologies, along with various functions integrated into the system, obstructs the market's growth. The rising cost of mental health and addiction programs is also expected to restrain the market growth. Another reason could be the excellent availability of several mental health apps online. This makes it difficult for users to select the right and wrong applications. This can obstruct the growth of the mental health apps market.

Impact Of Covid-19 On The Global Mental Health Apps Market

The outbreak began in early March 2020 and continued for over a year. The closures and quarantines resulted from the coronavirus outbreak in China. Many businesses have suffered losses due to shipping and travel restrictions. The unemployment rate rose as more deaths were reported. Due to the unexpected increase in the number of patients and the severe shortage of hospital resources, such as oxygen cylinders, beds and staff, the financial situation has deteriorated. The covid-19 outbreak has had a significant favorable impact on the growth of the mental health apps market, increasing consumer demand for better mental health and the benefits of mental health support provided by solutions and technologies such as meditation with a proper response, greater digitization with the use of smartphones with more excellent connectivity, and more. This has led to an increase in downloading mental health apps with more solutions for mental issues such as anxiety, depression, and stress. In addition, the rise in mental health solutions with easy access through smartphones using connectivity is driving the market growth with growing problems due to the increase in population and improved mental health applications during the forecast period.

REPORT COVERAGE

 

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

Segments Analysed

By Platform, Application & Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis; DROC, PESTLE Analysis; Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Analysed

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Market Leaders Profiled

Addicaid, NOCD Inc., Talkspace Network, CVS HealthAurora, Headspace Inc.

 

SEGMENTAL ANALYSIS

Global Mental Health Apps Market  Analysis By Platform Type

iOS is expected to be the platform with the highest market share in revenue owing to high customer usage of iOS and increased adoption.The most significant advantage of iOS over Android is its software updates is that Apple typically supports new iPhones and iPods with iOS updates for five or six years after their release date. Also, all of these devices receive the same updates simultaneously. Thus, the user has full access to the latest updates of all applications.Android is also expected to drive market growth for the increased usage of Android smartphones. This is due to the lower cost of Android smartphones in the market. In addition, they have improved the mental health app market by providing easy access to apps. This significantly increases the mental health apps market over the forecast period.

Global Mental Health Apps Market  Analysis By Application Type            

The stress management segment is expected to be the fastest-growing segment. This is because it helps people quickly adopt low-cost solutions. In addition, the rising prevalence of stress and stress-related disorders and the increasing adoption of beneficial apps for stress reduction and management are the pioneering factors driving the segment's growth over the forecast period.The depression and anxiety management segment is also expected to dominate the market. The rising prevalence of anxiety and depressive disorders and increasing awareness of mental health applications for treating these conditions are some of the major factors supporting the segment's growth.

REGIONAL ANALYSIS

North America is expected to be the highest region to increase the compound annual growth of the mental health market during the forecast period, owing to the rapid acceptance of smartphones, increase in research, increase in connectivity, and development in mental health applications. Furthermore, most of these apps are based in America, which gives US patients an advantage to access these online services quickly.

However, Asia-Pacific is anticipated to grow the fastest over the forecast period. This increase in market growth is attributed to factors such as increasing demand for connected devices, connectivity, developed features, and increasing adoption of smartphones in the region.

KEY PLAYERS IN THE GLOBAL MENTAL HEALTH APPS MARKET

Companies such as Addicaid, NOCD Inc., Talkspace Network, CVS HealthAurora, Headspace Inc., Health CareCalm, cups of TeaSanvello and Happify Inc. are some of the noteworthy players in the global mental health apps market and profiled in this report.

DETAILED SEGMENTATION OF GLOBAL MENTAL HEALTH APPS MARKET INCLUDED IN THIS REPORT

This research report on the global mental health apps market has been segmented and sub-segmented based on the platform, application, and region.

By Platform Type

  • iOS
  • Android
  • Others

By Application Type

  • Stress Management
  • Depression and Anxiety Management
  • Meditation Management
  • Wellness Management
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

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Frequently Asked Questions

Which region held the leading share of the global mental health apps market in 2023?

North America captured the major share of the worldwide market in 2023.

Who are the key players in the mental health apps market?

Addicaid, NOCD Inc., Talkspace Network, CVS HealthAurora, Headspace Inc., Health CareCalm, cups of TeaSanvello and Happify Inc. are some of the notable companies in the global mental health apps market.

What is the current size of the mental health apps market?

The global mental health apps market size is anticipated to reach USD 5.69 bn in 2023.

Which segment by platform had the leading share of the mental health apps market in 2023?

Based on platform, the iOS segment had the leading share of the market in 2023.

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