Online Therapy Services Global Market Analysis, Trends, Growth, Research And Forecast 2033

The new report published by The Business Research Company, titled "Online Therapy Services 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 online therapy services market size has grown exponentially in recent years. It will grow from $9.57 billion in 2023 to $12.05 billion in 2024 at a compound annual growth rate (CAGR) of 25.9%. The online therapy services market size is expected to see exponential growth in the next few years. It will grow to $31.03 billion in 2028 at a compound annual growth rate (CAGR) of 26.7%.

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Smartphone Proliferation Fuels Surge In Online Therapy Services
Increasing adoption of smartphones is expected to propel the growth of the online therapy service market going forward. The adoption of smartphones refers to the process of increasing the number of people who own and use smartphones. Smartphones or text messaging are used to deliver treatment for certain psychological conditions via wearable technology and digital apps such as mood trackers, coaching programs, and connected monitors, which help people successfully manage anxiety, build resilience, and become more in tune with their happiness. Mobile health applications can supplement existing treatments, such as counselling, or they can be used on their own as a less formal approach for users to take ownership of their well-being in blended healthcare, resulting in the growth of the online therapy services market. For instance, in September 2022, according to Uswitch Limited, a UK-based switching website, and pricing comparison service, there were 71.8 million mobile connections in the UK at the start of 2022 (4.2 million more than the UK population)-a 3.8% rise from 2021 (around 2.6 million). This is most likely because many persons will have more than one connection registered to them (i.e., personal and work phones). The UK population is expected to reach 68.3 million by 2025, with 95% (approximately 65 million people) owning a smartphone. Therefore, the increasing adoption of smartphones is driving the growth of the online therapy services market.

Insight Healthcare's Innovative Partnership With Limbic AI For AI-Powered Therapy Assistance In Mental Health Care
Major companies operating in the online therapy services market are developing innovative technologies, such as artificial intelligence-based chatbots, using machine learning for mental therapies and others to sustain their position in the market. For instance, in November 2021, Insight Healthcare, a UK-based non-profit corporation working on behalf of the National Health Service (NHS) for Improving Access to Psychological Therapies (IAPT) services, partnered with Limbic AI, a UK-based AI-powered therapy assistance provider, to launch an AI-powered therapy helper for carers, professionals, and patients. The new AI referral tool collects crucial information and determines if a person has mild or complicated symptoms, allowing patients with mild symptoms to obtain a more appropriate 20-minute assessment. By automating these early stages, the organization will save approximately 7,300 hours of therapist time every year. This will allow them to focus on getting more individuals the aid they need as quickly as possible.

The online therapy services market covered in this report is segmented -

1) By Type: Cognitive Behavioral Therapy, Psychodynamic Therapy, Personal Centered Therapy
2) By Tool: Email, Mobile Device Apps, Real-Time Instant Messaging, Telephone, Video Conferencing
3) By Application: Residential Use, Commercial

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Major companies operating in the online therapy services market report are Telemental Health, Therapize, Teladoc Health, Babylon Health, BetterHelp, Cerebral Inc., American Well Corporation, Doctor on Demand, TalkSpace Inc., MDLive Inc., iCouch Inc., PlushCare, 7 Cups of Tea Co, MindBeacon, Pride Counseling, Tava Health, Larkr Laboratories Ltd., Wellin5 Innovations Inc., ThriveTalk, Virtue Health, HopeQure, Mental Fuel Inc., Regain, Breakthrough, Access TeleCare Inc., Online-Therapy.com, Teen Counseling, TherapyRoute.com, Mindspace, Telehealth Counseling Clinic, Happify Health, Kintsugi Mindful Wellness Inc., eTherapyPro, eMindful Inc.

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

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