Mental Health Apps Market: Research Report Overview by Industry Size, Share, Trends, Growth & Leading Players (2021-2027)
As per the research report, Mental Health Apps Market is expected to grow at a CAGR of 20.5% from 2021-2027 to reach US$ 3.3 billion by 2027. Mental Health Apps is the distribution of mental healthcare facilities, in the form of computer applications. Mental Illness is a common condition throughout the world and especially in the United States. Statistics say 51.5 million individuals in the United States were affected by mental illness like anxiety, schizophrenia, major depression, etc. and 43.6% of the population received treatment of mental illness in the year. As the number of patients suffering from mental illnesses increases, the need for quicker healthcare is required. To address this issue, digital healthcare tools have the potential to scale up the treatment and at a decreased cost. There are currently over 300,000 health applications in the mobile app stores worldwide, with the mental health segment accounting for the largest growth in the market.
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The covid-19 pandemic has suddenly boosted the digital markets, all activities need to be digitalized to reach the masses. The top 20 mental wellness apps in the U.S. hit 4 million first-time downloads in April 2020. That is a 29% increase from 3.1 million in January. In fact, during the pandemic, many coronavirus health apps were made mandatory by the government. The Indian Covid-19 tracker government app had 127.6 million total downloads in July from both iTunes and Play Store of which 80.8 million downloads were in April itself.
CVS Health, Aurora Health Care, Calm, Addicaid, Headspace Inc., NOCD Inc., Happify Inc., 7 cups of Tea, Sanvello, Talkspace Network are some of the prominent players operating in the Mental Health Apps market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
For a detailed analysis of the COVID-19 Impact on Mental Health Apps Market browse through - https://univdatos.com/report/mental-health-apps-market-current-analysis-and-forecast-2021-2027
Insights Presented in the Report
“Amongst Operating Systems, iOS holds the major share.”
Based on Operating Systems, the market is segmented into Android, iOS and Others. The iOS market was seen to contain a higher number of apps as compared to the Android market in 2019. There are about 100 new healthcare apps added to the Appstore's every year. However, over the years the addition of new apps has increased in Android as compared to iOS. As the number of Healthcare apps is continuously increasing this is bound to change.
“Amongst Payment Mode, Paid Apps is anticipated to grow at the highest CAGR during the analyzed period.”
Based on Payment Mode, the market is fragmented into Free Apps and Paid Apps. As the number of Apps in the Appstore increase for mental healthcare, the category’s popularity is also increasing tremendously. With the popularity increase, the number of paid apps is also increasing as people are more willing to pay now than earlier. Overall, the number of paid and free apps in the Appstore is almost the same.
For a detailed analysis of the Applications of Mental Health Apps Market browse through - https://univdatos.com/report/mental-health-apps-market-current-analysis-and-forecast-2021-2027
“Amongst Application, Mental Disorder Apps segment holds the major share”
Based on Applications, the market is fragmented into Mental Disorder Apps, Substance-Use Disorder Apps, Co-Occurring Disorder Apps, and Others. The Mental Disorder Apps segment generated revenue of USD XX million in 2020. The market is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027F. Depression and Anxiety are the most common mental health disorders in both men and women. Substance-Use disorders are more common in men than women and thus are more likely to use those apps.
“Amongst Subscription Model, the Monthly Apps holds the major share.”
Based on Subscription Model, the market is fragmented into Monthly and Yearly. The yearly subscription model revenue of USD XX million in 2020. The market is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027F. For many years there have been a variety of apps in the Mental Health Market. However, only in the past decade, there has been rapid revolutionizing progress and acceptance of these apps by consumers. This is causing a boom in the market especially now that medical companies are starting to reimburse on the paid apps.
“North America signifies one of the largest markets in Mental Health Apps Market”
For a better understanding of the market dynamics of the Mental Health Apps market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World. North America dominated the market and generated maximum revenue in 2020 owing to the increasing mental health apps usage in the region.
Mental Health Apps Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
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UnivDatos Market Insights (UMI), is a passionate market research firm and a subsidiary of Universal Data Solutions. Rigorous secondary and primary research on the market is our USP, hence information presented in our reports is based on facts and realistic assumptions. We have worked with 200+ global clients, including some of the fortune 500 companies. Our clientele praises us for quality of insights, In-depth analysis, custom research abilities and detailed market segmentation.
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