The rising number of initiatives in spreading awareness regarding mental health issues, introduction of various mental health apps, and growing number of smartphone users are some of the factors driving the growth of Global Mental Health Apps market in the forecast period. Besides these, significant rise in the use of connected devices such as smart watches, growing self-assessment awareness, and escalating number of physicians recommending mental health related applications are projected to strongly contribute toward the growth of the market.
According to MarkNtel Advisors’ research report titled “Global Mental Health Apps Market Analysis, 2020”, the Global Mental Health Apps market is anticipated to grow at a CAGR of around 31% during 2020-25. Based on subscription model, yearly based subscription acquired the majority market share in the Global mental health app market in 2019 due to rising inclination of people toward yearly subscription as it provides various discount offers by numerous mental health apps.
“Global Mental Health Apps Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Mental Health Apps providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Asia-Pacific to Exhibit Fastest Growth
Asia-Pacific is anticipated to grow at a highest CAGR by 2025. The growth is attributed to surging penetration of connected devices such as smart watches and smartphones, growing awareness among people on mental health issues, and numerous collaborations by major companies. Furthermore, growing population with the launch of technologically advanced applications, and increasing number of solutions for managing clinical and administrative mental health care practices are proliferating the growth of the mental health apps market in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Mental Health Apps Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Global Mental Health Apps market are 7 Cups, Addicaid, Calm, NOCD, Recovery Record, Sanvello, Happify Inc., Headspace, Mayo Foundation, Mindshift Interactive, MY3, Silvercloud Health etc.
Key questions answered in the study: