The Worldwide Mental Health Apps Industry is Expected to Reach $17.5 Billion by 2030 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Mental Health Apps Market Size, Share & Trends Analysis Report by Platform Type (android, iOS), by Application Type (Depression and Anxiety Management, Stress Management), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global mental health apps market size is expected to reach USD 17.5 billion by 2030. It is expected to expand at a CAGR of 16.5% from 2022 to 2030.

Companies Mentioned

• Mindscape
• Calm
• MoodMission Pty Ltd.
• Sanvello Health
• Headspace Inc.
• Flow
• Youper, Inc.

Growing penetration and adoption of mental health applications due to their benefits in improving the mental health and wellbeing of patients and/or consumers and increasing awareness regarding mental health are some of the key factors boosting the growth of this market.

In 2021, the iOS platform type segment dominated with a revenue share of over 45.0%. The rising adoption of iOS amongst consumers is one of the major parameters contributing to the segment growth. For instance, in September 2020, around 26% of iPod, iPad, and iPhone users adopted the iOS 14 updates within 5 days of its release. The android platform type segment is anticipated to expand at the fastest rate of 17.9% during the forecast period owing to the rising rates of usage of android by consumers. For instance, according to statistics quoted by Business of apps in 2021, the number of android users increased from 2.3 billion in 2018 to 2.8 billion in 2020.

The depression and anxiety management application type segment accounted for over 25.0% share in 2021 owing to the rising prevalence of depression and anxiety disorders, along with the rising awareness regarding applications for the treatment of these conditions. For instance, Flow, an app beneficial in managing depression, recorded an increase in the sales of its at-home brain stimulation headset by around 247%. This headset is utilized along with the Flow app for the treatment of depression. In addition, as per the reports published by Med-Tech Innovation, during the pandemic of COVID-19, around 30% of users of the Flow app and headset overcame depression with the help of this app. Such instances signify growing adoption, thereby propelling the market growth.

North America dominated the market with a revenue share of over 35.0% in 2021. Various factors like developments in coverage networks, growth in the adoption of smartphones, and the rising prevalence of health conditions affecting mental well-being are driving the regional market. In addition, the rising demand for technological solutions in terms of software and applications for the population has led to an increase in the adoption of mental health-based apps by healthcare providers and others. Furthermore, increasing stress and other health conditions impacting mental health among the population is yet another factor impacting the market growth.

In addition, the COVID-19 pandemic has led to an increase in the utilization of mental health-based platforms across the globe. The increase in the adoption of mobile health applications for maintaining mental and psychological health during the pandemic situation and rising remote monitoring are some of the factors promoting the growth of the market in 2020. For instance, according to the data quoted by Business of Apps in 2021, Calm, a meditation and sleep management app, witnessed a significant increase in the number of subscribers in 2020. The number of subscribers increased from 0.75 million in 2017 to 4 million in 2020. Hence, the COVID-19 pandemic has fueled the adoption of mental health-based apps, thereby fueling their growth in the near future.

Mental Health Apps Market Report Highlights

• The market growth can be attributed to the growing adoption of mental health-based apps for reducing issues with respect to mental health
• The iOS platform type segment dominated the market in 2021 owing to the rising adoption of iOS amongst the consumers
• The depression and anxiety management application type segment dominated the market in 2021 owing to the rising prevalence of depression and anxiety disorders, along with rising awareness regarding mental health-based apps for the treatment of these conditions
• North America dominated the market with a revenue share of over 35.0% in 2021 owing to developments in coverage networks, growth in the adoption of smartphones, and the rising prevalence of mental health-based conditions

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Market Variables, Trends & Scope

3.1 Market Lineage Outlook

3.1.1 Parent Market Outlook

3.1.2 Ancillary Market Outlook

3.2 Penetration & Growth Prospect Mapping

3.3 Marker Driver Analysis

3.4 Market Restraint Analysis

3.5 Mental Health Apps Market: Industry Analysis Tools

3.5.1 Porter's five forces analysis

3.5.2 PESTEL Analysis

3.6 COVID-19 Impact on the market

Chapter 4 Mental Health Apps Market: Platform Type Analysis

Chapter 5 Mental Health Apps Market: Application Type Analysis

Chapter 6 Mental Health Apps Market: Regional Analysis

Chapter 7 Competitive Analysis

Chapter 8 Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/r/74fujm