Artificial Intelligence (AI) in Mental Health Market 2023 Driving Factors Forecast Research 2029

Artificial Intelligence (AI) in mental health market is anticipated to grow at a CAGR of 38.1% during the forecast period (2023-2030). Globally increasing number of suicide cases and growing awareness of mental disorder are significant driving factors of the market According to a report published by the World Health Organization (WTO) on August 2023, more than 7,00,000 people die due to suicide every year. The link between suicide and mental disorders (in particular, depression and alcohol use disorders) and a previous suicide attempt is well established in high-income countries, many suicides happen impulsively in moments of crisis with a breakdown in the ability to deal with life stresses, such as financial problems, relationship break-up or chronic pain and illness. Hence, the market players are focusing on advanced AI-based mental health solutions across the healthcare sector for instance, In June 2020, Biobeat was mentioned in the MediCompare "Top 10 Mental Health Medtech Startups". Biobeats devices can be utilized to help aid mental healthcare providers in monitoring their patients from crisis to recovery.

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The global artificial Intelligence (AI) in mental health market is segmented on the technology, application, and component. Based on the technology, the market is sub-segmented into machine learning deep learning, and natural language processing (NLP). Based on the application, the market is sub-segmented into conversational interfaces and patient behavioral pattern recognition. Further, on the basis of components, the market is sub-segmented into software-as-a-service (SaaS) and hardware. Among all the natural language processing (NLP) sub-segments is anticipated to hold a considerable share of the market

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o Market Coverage
o Market number available for - 2023-2029
o Base year- 2022
o Forecast period- 2023-2029
o Segment Covered- By Source, By Product Type, By Applications
o Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
o Inc., and others

Market Segmentation
Global Artificial Intelligence (AI) in Mental Health Market by Technology
o Machine Learning (ML) and Deep Learning
o Natural Language Processing (NLP)
o Virtual Reality (VR)/ Augmented Reality (AR)
o Others (Analytics, Speech Recognition, Computer Vision)

Global Artificial Intelligence (AI) in Mental Health Market by Application
o Patient Behavioral Pattern Recognition
o Mental health diagnosis and assessment
o Personalized treatment
o Virtual Therapies and chatbot support
o Mental Health Monitoring and Tracking
o Research and Development

Global Artificial Intelligence (AI) in Mental Health Market by Component
o Software-as-a-Service (SaaS)
o Hardware

Regional Analysis
o North America
o United States
o Canada
o Europe
o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe
o Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
o Rest of the World

Company Profiles
o Biobeat
o Ginger.io, Inc.
o Meru
o Mindspring Mental Health Alliance
o New Life Solution, Inc.
o Quartet
o Spring Care Inc.
o Talkspace
o Woebot Health
o Wysa Ltd.

The Report Covers
• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global artificial Intelligence (AI) in mental health market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.

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