Mental Health Apps Market to grow by USD 946.8 million from 2022 to 2027, increasing prevalence of mental health disorders to boost the growth - Technavio

NEW YORK, Oct. 24, 2023 /PRNewswire/ -- The mental health apps market by platform (iOS and android), type (monthly subscription and yearly subscription) and geography (APAC, North America, Europe, South America, and Middle East and Africa) - Forecast and Analysis 2023-2027 report has been added to Technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the mental health apps market between 2022 and 2027 is USD 946.8  million.  

The increasing prevalence of mental health disorders drives the market growth during the forecast period. The low savings of baby boomers is one of the significant challenges faced by the global retirement community market segment. In addition, the prevalence rate of mental health disorders has also increased, which is also positively impacting the market. Therefore, such factors are expected to drive the market growth. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge - 

• Privacy and security concerns associated with the use of mental health apps is a significant challenge hindering market growth. Several mental health apps collect and process sensitive personal data, including health data and location information. As a result, there is a growing concern among users regarding the usage of their data and who has access to it.
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• The market share growth by the iOS segment is significant during the forecast period.  iOS mental health apps can be referred to as apps for mental health and wellness that run on iOS-compatible mobile devices or tablets. There is an increasing adoption of these apps to manage stress, depression, and anxiety, as well as for wellness, meditation, and other purposes. There is a growing popularity for these apps among iOS users with an increasing number of mental health apps being developed specifically for the iOS platform. 

Geo Segment -

• APAC is estimated to account for 32% of the growth of the global market during the forecast period. There is a significant growth of mental health apps in APAC as the region faces rising rates of mental health disorders and increasing demand for accessible and affordable mental health services. Hence, such factor drives the market growth in APAC during the forecast period.
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Key Companies in the mental health apps market:

7 Cups of Tea Co., Calm.com Inc., CVS Health Corp., Flow Neuroscience AB, Glucobit Inc., Happify Inc. , Headspace Inc., MassiveMusic, Mayo Clinic, MoodMission Pty Ltd., Moodtools, NOCD Inc., Roble Ridge Software LLC, Sanvello Health Inc., TALKSPACE INC, Thrive Therapeutic Software Ltd., ustwo Ltd., Women LLC, Youper Inc., and American Well Corp..

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Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

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SOURCE Technavio