AI in Mental Health Market: Market Size, Share, and Technological Advancements for Future Forecasts

The new report published by The Business Research Company, titled "AI in Mental Health Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the AI In mental health market size has grown exponentially in recent years. It will grow from $1.10 billion in 2023 to $1.49 billion in 2024 at a compound annual growth rate (CAGR) of 35.4%. The AI In mental health market size is expected to see exponential growth in the next few years. It will grow to $4.94 billion in 2028 at a compound annual growth rate (CAGR) of 34.9%.

Download Free Sample Report @ https://www.thebusinessresearchcompany.com/sample.aspx?id=14242&type=smp

Rising Suicidal Cases Fueling The Expansion Of AI In Mental Health Services
An increasing number of suicidal cases is expected to propel the growth of AI in the mental health market going forward. Suicidal cases refer to situations in which individuals experience thoughts, feelings, or behaviors related to intentionally causing harm to themselves with the intent to end their own lives. Mental health disorders, such as depression, bipolar disorder, schizophrenia, and substance abuse, are significant contributors to suicidal thoughts and behaviors. AI in mental health is used to identify early signs of suicidal risk by analyzing patterns in user data and facilitating timely intervention and support. For instance, in November 2023, according to the Centers for Disease Control and Prevention, a US-based government agency, there were 49,449 suicide deaths in the United States in 2022, marking a 2.6% increase from the 2021 figure of 48,183 suicide deaths. Males accounted for a higher number of suicides compared to females, with 39,255 male deaths and 10,194 female deaths in 2022. Therefore, the increasing number of suicidal cases is driving the growth of AI in the mental health market.

AI-Powered Post-Discharge Monitoring Systems Revolutionize Mental Health Care
Major companies operating in the AI in the mental health market are developing innovative technology, such as an AI-powered behavioral health system named Discovery365, to increase their market offerings. Discovery365 is a system that is used to monitor patient progress for one year after discharge from a behavioral treatment program, during which time relapse rates are high. For instance, in September 2023, Discovery Behavioral Health Inc., a US-based mental health service company, and Videra Health and Brigham and Women's Hospital, a US-based academic medical center, launched Discovery365, which is the first of its kind AI-powered system that aims to address the one-year recovery gap in behavioral health. This platform utilizes advanced AI technology to analyze patient data post-discharge, focusing on video-captured analytics to evaluate patient progress and identify potential signs of struggle or relapse. Discovery365 aims to reduce relapse rates and support patients during the critical year following treatment completion by extending care beyond treatment programs.

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

1) By Component: Software-as-a-Service (SaaS), Hardware
2) By Technology: Natural Language Processing (NLP), Context-Aware Computing, Computer Vision, Machine learning
3) By Application: Conversational Interfaces, Patient Behavioral Pattern Recognition
4) By End-user: Hospitals And Clinics, Mental Health Centers, Research Institutions

Buy Now & Get Exclusive Discount on this Report, Checkout link @
https://www.thebusinessresearchcompany.com/Discount?id=14242&type=discount

Major companies operating in the AI in mental health market are BetterHelp, Lyra Health, American Well Corporation, Doctor on Demand, Cerebral, MDLive, Talkspace Inc., Ginger, Quartet Health, Meditopia, Mantra Health, Happify Health, Woebot Health, Kintsugi, Marigold Health, SilverCloud Health, Cognoa, BioBeats, MeQuilibrium, Mightier, Nue Life, Mindstrong Health, Oliva Health, Wysa Ltd., New life solution Inc.

Contents of the report:
1. Executive Summary
2. AI in Mental Health Market Report Structure
3. AI in Mental Health Market Trends And Strategies
4. AI in Mental Health Market - Macro Economic Scenario
5. AI in Mental Health Market Size And Growth
…..
27. AI in Mental Health Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Explore the report store to make a direct purchase of the report @ https://www.thebusinessresearchcompany.com/report/ai-in-mental-health-global-market-report

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.