Mental Health Apps Market

Global Mental Health Apps Market Growth Outlook (2022-2032)

The global mental health apps market size reached a value of US$ 5.3 Billion in 2021. Looking forward, Fact.MR expects the market to reach a value of US$ 30 Billion by 2032 exhibiting a growth rate (CAGR) of 17% during 2022-2023.

Report Attributes	Details
Market Value for 2021	US$ 5.3 Billion
Expected Market Size in 2022	US$ 6.2 Billion
Projected Market Valued in 2032	US$ 30 Billion
Growth Rate (2022-2032)	17% CAGR
Market Share of North America	34.4%
Revenue Share of Asia Pacific	26%
Key Companies Profiled	Calm MoodMission Pty Ltd. Sanvello Health Headspace Inc. Flow and Youper Inc. MoodTools Talkspace Ustwo Fampany Ltd. Happify Inc.

Outsourcing of mental health apps is most likely to comprise greater than 1.8x over the last 5 years. Mental health applications are predicted to grow at a Y-o-Y rate of 26% over the next few years.

Revenue Analysis of Mental Health Apps 2015-2021 vs. Market Outlook 2022-2032

As per the latest report on the mental health apps industry by Fact.MR - market research and competitive intelligence provider, discovered that demand for mental health apps experienced an astounding 12% CAGR between 2015 and 2021. According to estimates, the market is expected to grow at a significant rate over the coming years, driven by the growing recognition of health applications among leading companies and government initiatives.

With the imposition of a global lockdown, prospects for mental health apps increased significantly during the COVID-19 pandemic. Digitalization became more prominent as companies began shifting extensively to the digital world, which led to huge growth in the mental health apps market.

In the era of digital technology, when even the government understands the value of digital technology, the chances of medical professionals and patients adopting mental health apps will increase. Furthermore, the use of mental health apps promotes wellness, which helps boost productivity, especially among professionals. From 2022 to 2032, mental health applications are expected to grow nearly 5x.

Prominent Growth Drivers Influencing the Mental Health Apps

An Influx of Apps offering Virtual Therapy for Mental Health

Over the past century, experts and business leaders have continually stressed the importance of mental health and well-being for employees of various industries. Schools and institutes are partnering with app developers to help students cope with stress while studying.

In developed countries, healthcare industry revenues exceed 10% of GDP. A value of US$ 9.7 trillion is estimated for global healthcare spending by 2022. Additionally, mobile phone penetration is growing globally. Approximately 5.2 Bn mobile phones are being used worldwide, and Android dominates this market.

Improving lifestyles and fast-paced lives have contributed to the increasing market demand for virtual therapy in the market. In addition, mobile phones have become the tools of many professionals and have increased their efficiencies. The increasing prevalence of mental health concerns among generations has helped to expand treatment resources virtually online.

How are Mounting Stress Levels Paving Way for Mental Health Apps Usage?

Studies show that people with mental illnesses are more open to digital technology. As a result, these apps have gained increasing popularity in order to help individuals cope with the limitations of personal treatment, particularly during a pandemic.  Several factors encourage the demand for mental health apps, such as increases 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.

Increasing stress levels and changing lifestyles have deteriorated 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. Millennials and young generations have an increasing level of stress, which has led to an increase in demand for mental health apps market.

For instance, In February 2022, Atommerce, a South Korean startup that provides mental health services to people via its mobile application MiNDCAFE, plans to go public with a US$ 16.7 million Series B. Within two months, the product was subscribed over three times. The firm planned on using the money to add artificial intelligence and machine learning to its platform and invest in digital therapies for people with mental health problems. As part of RONI, the company's AI bot launched in December provides suggested answers to human professionals. Currently, MiNDCAFE's employee assistance program (EAP) is used by about 200,000 employees of its B2B clients.

Region-wise Analysis

Which Region Offers Lucrative Opportunity for Sales of Mental Health Apps?

Increasing rates of mental disorders among children may Widen Scope

The North American mental health app market account for 36% of the market share in 2022. The increased awareness of assessments, treatment, and screening for mental disorders such as bipolar disorder and anxiety disorders is another important factor contributing to the growth of mental fitness apps in the market.

The U.S. is holds a prominent market share accounting for 78.1%, and is expected to reach a market value of US$ 530.5 Million by the end of 2031. The U.S. ranks among the top three countries for cases of depression, anxiety, and alcohol & drug use. In 2019, the United States was positioned on the top of the list for illegal drug use. This has increased the number of people having bipolar disorders.

In addition to the pandemic, the United States and other countries are experiencing a crisis in children's mental health. In general, 21.8 percent of children ages 3 to 17 in the United States have at least one mental, emotional, or behavioral health condition. A survey found that mental health problems are prevalent among U.S. children between 15 and 60 percent, with the risk increasing with the nature and extent to which the children are exposed to these risks.

How is Asia Pacific Providing Fertile Ground for Mental Health Apps Growth?

Development of Fitness Apps that utilize AI will support growth

As living conditions continue to improve, digital literacy is becoming more widely used across the Asia Pacific region. As a result, the number of smart tools, including mobile phones, laptops, and tablets has increased. Particularly in emerging economies, development of AI-based apps has increased significantly over the past few years. A CAGR of 26% is anticipated for the Asia Pacific market.

Mental health applications are gaining traction in India. Rising cases of depression and increasing working hours are prime reasons for the increasing adoption of mental health apps. The Indian market is poised to rise at a CAGR of 17% during the forecast period. According to the International Journal of Mental Health Systems, mental health challenges pose a significant public health problem, especially in low- and middle-income ASEAN countries that are chronically short of resources and mental health services.

Mental health app demand in Japan is anticipated to grow 5.2x by 2032. The market is estimated to account for an 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 global market in China. Researchers have found that more than half of the Chinese live in stressful conditions. Out of these people, 80% have anxiety problems.

Category-wise Insights

What are the reasons behind the growing popularity of Mental Health Apps for Android?

Free Wellbeing Apps for Mental Health will Grow Exponentially in the Next Few Years

Based on platform type, android mental health apps shall comprise the bulk of the market revenue, accumulating over 74% share as of 2022. A combination of rising health expenditures and a weak economy in developing regions has encouraged the development of free wellbeing apps for android.

Millions of android users have been downloading apps that incorporate proven techniques such as cognitive-behavioral therapy (CBT) and acceptance commitment therapy (ACT) for treating depression, anxiety, and obsessive-compulsive disorders. The popularity of these free apps for mental health has created a significant demand for the betterment of mental health apps market.

How is Depression and Anxiety Management Stimulate the Market for Mental Health Apps?

Adoption of Depression and Anxiety Treatments on a Large Scale is Significantly Increased by Mobile Apps

By application type, depression and anxiety mental health apps are expected to remain prevalent, attributed to increasing reliance on AI-based smart technologies used in developing wellness apps across key industry verticals. A revenue share of over 30% has been forecast for this segment.

Apps for mental health treatment on smartphones present a unique opportunity to expand accessibility and quality of treatment. The number of mHealth applications that focus on mental health is growing rapidly. Anxiety disorders and depression are on the rise, with mental health apps becoming more popular to treat these disorders. Growing awareness of the need for mental health apps and the potential benefits are a few of the things driving the growth of this segment.

Competitive Landscape

By means of collaborative efforts, partnerships, acquisitions, and mergers, leading mental health app providers are striving to expand their reach globally. A growing number of medical service providers are integrating the latest virtual technologies to enhance advanced mobile applications, due to the increased penetration of technological advancements in the healthcare sector. Besides, extensive R&D activities, new AI-based developments constitute other expansion strategies of key players. Some notable developments are as follows:

• 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 Trusst, an app that connects consumers and providers of on-demand text-based therapy. This acquisition will expand K Health's mental health services.

Key Segments Covered in the Mental Health Apps Market Study

• By Platform Type

  • Android
  • iOS
  • Other Platforms

• By Application Type

  • Depression and Anxiety Management
  • Stress Management
  • Meditation Management
  • Wellness Management
  • Other Application Types

• By Region

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