According to MarkNtel Advisors' research report, "Global Mental Health Application Market Analysis, 2021," the market is likely to grow at a CAGR of 31% in the forecast period of 2021-26. It owes prominently to the rising number of initiatives by the government & market players to actively spread awareness about the growing mental health issues entwined with the introduction of multiple mental health apps. Moreover, a significant rise in the use of connected devices like smartwatches, physicians recommending mental health-related applications, and self-assessment awareness are other crucial factors likely to support the market growth in the forecast period.
Key Questions Answered in the Study
Co-occurring Disorder Apps to Witness Fastest Growth
Based on Type, the Global Mental Health Market segments into Mental Health Disorder Apps, Substance-use Disorder Apps, Co-occurring Disorder Apps. Out of all, Co-occurring Disorder Applications are more likely to witness the fastest market growth in the forecast years. It owes prominently to the increasing prevalence of CBDs amongst younger to middle age generations.
Co-occurring disorders are when an individual has two or more medical illnesses or mental health disorders, which may overlap and begin simultaneously, or one may come before or after another. The most common disorder under this segment is Anxiety Disorder, which is growing widely among people. Hence, the rising prevalence of these disorders is likely to lead the Co-occurring Disorder Applications to attain the fastest market growth in the forecast period.
"Global Mental Health Application Market Analysis, 2021" provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Mental Health Application providers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Asia-Pacific Exhibits Fastest Growth
The Global Mental Health Application Market is expanding exponentially across the globe. Yet, the Asia-Pacific region is more likely to witness the fastest pace in the forecast period of 2021-26. It owes to the surging penetration of connected devices like smartwatches & smartphones, awareness among people on mental health issues, and multiple collaborations by leading companies.
Furthermore, the flooding population, the launch of technologically advanced applications, and the increasing number of solutions to manage clinical & administrative mental health care practices are other critical aspects likely to support the growth of the mental health apps market in the region in the coming years. Therefore, based on the factors cited above, Asia-Pacific is very likely to contribute to the overall market growth in the forecast period, 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, etc.