According to MarkNtel Advisors, the Global Mental Health Application Market is expecting around 31% CAGR during 2021-26. It attributes primarily to the increasing instances of mental disorders, the rapidly growing aged population, and mounting stress levels among people due to hectic schedules & addiction to harmful substances globally.
Governments & the leading market players worldwide are taking various initiatives to spread awareness about mental health issues & introduce multiple mental health apps. Besides, psychiatrists, psychotherapists, & clinical psychologists are increasingly adopting mental health apps to monitor patients' mental well-being, which is another crucial aspect augmenting the market growth.
Moreover, the surging awareness among people about the significance of mental health and the launch of numerous health campaigns to raise awareness regarding mental health are also driving the global market, further states the research report, "Global Mental Health Application Market Analysis, 2021."
Mental Health Disorder Apps to Contribute Significantly to the Global Market Growth
North America, Europe, China, & India witnessing burgeoning cases of anxiety, depression, bipolar disorders, & other mental health issues is the prime reason behind the significantly growing demand for mental health disorder apps. These apps attained the majority share in the global market in 2020 since they offer relatively more general & broader services than others.
Besides, the Covid-19 pandemic of 2020 has also provided remunerative opportunities for mental health app developers owing to numerous people that faced alarming levels of anxiety & stress amidst the crisis. As a result, these aspects indicate that mental health disorder apps have generated significant revenue amidst the pandemic and the same trend is likely in the years to come.
With Increasing Cases of Suicides, North America Acquires the Largest Market Share
With the rapidly surging awareness of mental health issues, the increasing number of suicides, and the extensive presence of app developers, North America, amongst all regions globally, holds the largest share in the mental health application market. Moreover, the increasing prevalence of depression, anxiety, substance use disorders, etc., is another prominent aspect that has propelled the demand for mental health applications across North America.
Since depression, anxiety, substance abuse, etc., are the major causes of suicides, governments across North America are actively spreading awareness regarding the significance of mental health apps. Hence, these initiatives are likely to continue driving the regional market growth in the years to come, reveals MarkNtel Advisors in their research report, "Global Mental Health Application Market Analysis, 2021."
According to MarkNtel Advisors, the leading players in the Global Mental Health Application Market are 7 Cups, Addicaid, Calm, NOCD, Recovery Record, Sanvello, Happify Inc., Headspace, Mayo Foundation, Mindshift Interactive, MY3, & Silvercloud Health.
Key Questions Answered in the Research Report