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Mental Health Apps Market Trends

Report ID: GMI9407
Published Date: May 2024
Report Format: PDF

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Mental Health Apps Market Trends

Modern lifestyles are characterized by various stressors, including work pressures, social media, financial worries, and lifestyle changes. These stressors contribute to the development or exacerbation of mental health conditions.

There has been a notable increase in the prevalence of mental health disorders globally. Conditions such as depression, anxiety, stress-related disorders, PTSD, and others are affecting a growing portion of the population. For instance, according to the data reported by National Alliance on Mental Illness, 57.8 million people or around 22.8% of U.S. adults experienced mental health illness in 2021. 5.5% of them were categorized under serious mental illness in the country.
Moreover, with the increasing emphasis on self-care and self-management of health, many individuals prefer to take an active role in managing their mental health. Mental health apps empower users to track their symptoms, learn coping strategies, practice mindfulness, and access therapeutic interventions independently, aligning with this trend towards self-directed healthcare.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Industry size for mental health apps was worth USD 6.1 billion in 2023 and will grow at a 17.9% CAGR between 2024 and 2032, driven by the surge in mental health conditions, growing awareness and acceptance, and the expanding utilization of virtual therapy for mental well-being.

Mental health apps industry from the home care settings segment reached USD 3.7 billion in 2023, primarily due to the convenience and accessibility that home-based mental health apps offer to users, aligning with the growing preference for remote and self-directed mental health support.

North America industry size recorded USD 3.5 billion in 2023 propelled by advanced technological infrastructure, high levels of digital literacy, and increasing awareness of mental health issues.

Some of the key market players are 7 cups of Tea, BetterSleep, Calm, Fabulous, Headspace Inc., Mindscape, MoodMission Pty Ltd., Relax, Sanvello Health, Woebot, and Youper, Inc., among others.