Mental Health Apps Market Size And Trends Forecast 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2721

The Business Research Company presents an extensive market research report on the Mental Health Apps Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The mental health apps market size has grown rapidly in recent years. It will grow from $6.22 billion in 2023 to $7.18 billion in 2024 at a compound annual growth rate (CAGR) of 15.4%. The growth in the historic period can be attributed to increasing mental health awareness, reducing stigma, global health challenges.

The mental health apps market size is expected to see rapid growth in the next few years. It will grow to $13.3 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%. The growth in the forecast period can be attributed to increasing demand for telehealth services, user empowerment, corporate wellness initiatives. Major trends in the forecast period include personalization and customization, integration of AI and machine learning, teletherapy and remote support, digital therapeutics, data security and privacy compliance.

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Key Market Players:

Major companies operating in the mental health apps market report are Walmart Inc., UnitedHealth Group Incorporated, CVS Health Corporation, McKesson Corporation, Cardinal Health Inc., Optum Inc., Cigna Corporation, The Home Depot Inc., Centene Corporation, Anthem Inc., Verizon Communications Inc., Walgreens Boots Alliance Inc., Comcast Corporation, AT&T Inc., Target Corporation, Lowe's Companies Inc., Humana Inc., T-Mobile Inc., Aetna Inc., DaVita Inc., Teladoc Health Inc., Calm.com, Headspace Health Inc., SonderMind Inc., Pear Therapeutics Inc., MoodMission Pty. Ltd., 2Morrow Inc., ieso Digital Health Corp, Flow Neuroscience Inc., Big Health Inc., Happify Health Inc., Mindscapes, Omada Health Inc., Pear Nova Digital Health Corp, Propeller Health Inc.

Market Drivers:

The increasing awareness about mental health and its significance is propelling the growth of the mental health apps market. Increasing openness about mental health by sports personalities and celebrities has reduced the stigma and increased awareness about mental health and its importance on one's health across the globe. Additionally, individuals with mental health-related problems are investing in various recovery therapies such as medical consultations, mental health apps, self-help books, and others. For instance, in July 2023, according to MYNDUP, a UK-based online platform that provides employees with mental health help, in the summer of 2021, around 17% of people in the UK experienced some kind of depression, in contrast to 10% before the epidemic. Anxiety is the most common mental illness, affecting 40 million people (19.1% of the population). Therefore, the increasing awareness of mental health and its awareness drive the mental health app market growth.

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The mental health apps market covered in this report is segmented -

1) By Platform Type: iOS, Android, Other Platform Types
2) By Application Type: Depression and Anxiety management, Meditation Management, Stress Management, Wellness Management, Other Application Types

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

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