Mental Health Application Market Size to Reach USD 6.98 billion in 2023

Market Insights

As per recent research by MarkNtel Advisors, The Global Mental Health Application Market size was valued at around USD 6.98 billion in 2023 and is anticipated to grow at a CAGR of about 16.4% during the forecast period, i.e., 2024-30.

Global Mental Health Application Market Driver:

Growing Instances of Anxiety Disorders to Fuel Market Growth Expansion – Globally, there has been a significant rise in the prevalence of anxiety disorders, owing to the increasing social pressure for better performance across every arena of life. Also, the anxiety instances have increased among children as well, which has been driven by increasing peer pressure to perform better in exams, sports, etc. Further, these anxiety cases have been observed to turn into depression, if they persist for longer duration. Along with the increasing instances of disorders, the awareness regarding their ill effects has also increased among consumers. Consequently, this has been driving the demand for mental health applications among consumers, as they are highly accessible and effective.

Additionally, as these instances continue to increase, the demand for mental health applications amplifies in the coming years as well, which would drive growth in the Global Mental Health Application Market.

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Market Segmentation and Consumer Behavior:

By Operating System

iOS- Market Size Forecast 2019-2030F, (USD Million)
Android- Market Size Forecast 2019-2030F, (USD Million)
Others- Market Size Forecast 2019-2030F, (USD Million)

By Subscription Model

Monthly- Market Size Forecast 2019-2030F, (USD Million)
Yearly- Market Size Forecast 2019-2030F, (USD Million)

By Application

Depression and Anxiety Management- Market Size Forecast 2019-2030F, (USD Million)
Meditation Management- Market Size Forecast 2019-2030F, (USD Million)
Stress Management- Market Size Forecast 2019-2030F, (USD Million)
Wellness Management- Market Size Forecast 2019-2030F, (USD Million)
Others- Market Size Forecast 2019-2030F, (USD Million)

By End User

Healthcare Providers- Market Size Forecast 2019-2030F, (USD Million)
Homecare Settings- Market Size Forecast 2019-2030F, (USD Million)
Others- Market Size Forecast 2019-2030F, (USD Million)

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Mental Health Application Market Geographical Analysis:

By Region:

North America
South America
Europe
The Middle East Africa
Asia-Pacific

Key Players and Competitive Strategies in the Mental Health Application Market

Several prominent players dominate the Mental Health Application Market, including:

7 Cups
Youper Inc.
Calm
NOCD
Recovery Record
Sanvello
Happify Inc.
Headspace
Mayo Foundation
Mindshift Interactive
MY3
Talkspace
BetterHelp
MoodMission
Silvercloud Health

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Questions Addressed in this Study

1.What factors are driving the Mental Health Application Market growth?

2.How is the Mental Health Application Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Mental Health Application Market?

4.What is the current size of the Mental Health Application Market, and how is it projected to change in the future?

5.What is the future outlook for the Mental Health Application Market in terms of technological advancements and market expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, individuals, among others.

Our specialization in niche industries emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing forecasting, trend analysis, among others, for 15 diverse industrial verticals.