Mental Health Apps Market Are Expected To Be Valued At US$ 30 Bn By 2031

Over the last five years, outsourcing of mental health apps is likely to have increased by more than 1.8x. Over the next few years, mental health applications are expected to grow at a 26% year on year rate.

Over the last five years, outsourcing of mental health apps is likely to have increased by more than 1.8x. Over the next few years, mental health applications are expected to grow at a 26% year on year rate.

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Competitive Landscape

Leading mental health app providers are attempting to expand their global reach through collaborative efforts, partnerships, acquisitions, and mergers. Because of the increased penetration of technological advancements in the healthcare sector, an increasing number of medical service providers are integrating the latest virtual technologies to enhance advanced mobile applications. Other key players' expansion strategies include extensive R&D activities and new AI-based developments. The following are some noteworthy developments:

Offshore Titans, an online platform promoting mental health in the oil and gas industry, will collaborate with the developer of a mobile app that reduces workplace stress in April 2021. Workers will be able to notify their employer of any issues or concerns in real time and anonymously by using the app.
K Health, a digital primary care platform that provides high-quality, individualised healthcare to millions of adults and children, announced the acquisition of Trusst, an app that connects consumers and providers of on-demand text-based therapy, in August 2021. K Health's mental health services will be expanded as a result of this acquisition.

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Key Segments Covered in the Mental Health Apps Market Study

By Platform Type

Mental Health Apps for Android

Mental Health Apps for iOS

Mental Health Apps for Other Platforms

By Application Type

Mental Health Apps for Depression and Anxiety Management

Mental Health Apps for Stress Management

Mental Health Apps for Meditation Management

Mental Health Apps for Wellness Management

Mental Health Apps for Other Application Types

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Significant Growth Drivers Influencing Mental Health Apps
There is an influx of apps that provide virtual therapy for mental health.

Over the last century, experts and business leaders have repeatedly emphasised the importance of mental health and well-being for workers in a variety of industries. Schools and institutes are collaborating with app developers to assist students in dealing with stress while studying.

Healthcare industry revenues in developed countries exceed 10% of GDP. Global healthcare spending is expected to reach $9.7 trillion by 2022. Furthermore, mobile phone penetration is increasing globally. Around 5.2 billion mobile phones are in use worldwide, with Android dominating the market.

Which region provides a profitable opportunity for the sale of mental health apps?
Rising rates of mental disorders in children may widen the gap. Scope

In 2022, the North American mental health app market will account for 36% of the market. Another important factor contributing to the market growth of mental fitness apps is increased awareness of assessments, treatment, and screening for mental disorders such as bipolar disorder and anxiety disorders.

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How can Fact.MR Make Difference?
• In-depth examination of several market aspects that may have an impact on the market's growth rate
• Provides information on recent market developments and marketing strategies implemented by leading companies worldwide.
• Outlined key factors that will influence market growth during the forecast period.
• Estimated growth rate based on historical growth rate and future prospects
• Current innovations and product launches in the global landscape • Detailed description of the competitive landscape with reference to leading companies and new market entrants

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