Market Overview
Mental Health Applications encourage patients to become more aware of their health, mood, behavior, and potential trigger points, along with suggestions for healthy options to deal with stress & depressive episodes.
According to MarkNtel Advisors’ research report, “Global Mental Health Application Market Analysis, 2021,” the market is likely to grow at a CAGR of around 31% in the forecast period of 2021-26. It owes to numerous factors, including the growing awareness about health applications among various industry players and increasing initiatives of collaborations by multiple governments & market players. Many players are introducing several applications for mindfulness & meditation solely for a new global well-being collaboration. These initiatives & collaborations are likely to bring mental health exercises, guided meditations, and sleep content to millions of employees, corporate customers, & guests and shall be made accessible worldwide in the coming years.
| Report Coverage | Details |
| Study Period | Historical Data: 2016-20 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR (2021-26) | 31% |
| Regions Covered | North America: USA, Canada, Mexico |
| Europe: Germany, UK, France, Italy, Spain, Russia | |
| Asia-Pacific: China, India, Japan, South Korea, Australia | |
| South America: Brazil, Argentina | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa | |
| Key Companies Profiled | 7 Cups, Addicaid, Calm, NOCD, Recovery Record, Sanvello, Happify Inc., Headspace, Mayo Foundation, Mindshift Interactive, MY3, Silvercloud Health, etc. |
| Unit Denominations | USD Million/Billion |
Impact of COVID-19
Undoubtedly, the outbreak of the Covid-19 pandemic made a negative impact on almost all industries throughout the globe. Yet, the Global Mental Health Application Market witnessed a significant rise amidst the pandemic. The Covid-19 disease was unknown before the outbreak began in Wuhan (China) in December 2019, and it took just a few weeks for the Covid-19 to move from a regional crisis to a global pandemic. The healthcare, biotechnology, and pharmaceutical industries are optimizing this situation to serve a maximum number of patients & healthcare professionals. However, the pandemic is providing immense opportunities for the growth of the mental health application market, as medical practices of all sizes are under eternal pressure, and healthcare providers need to rely on efficient health applications to monitor & treat patients effectively. Hence, the market attained a positive impact amidst the pandemic and is likely to continue its robust growth in the coming years.
Market Segmentation
iOS Segment likely to attain the Largest Market Share
Amongst the Operating System, the Global Mental Health Application Market segments into Android, iOS, and Others. Here, the iOS segment is more likely to attain the largest market share in the forecast years. The iOS contained more health apps than that of the Android in the previous years. About 100 new healthcare applications get added to the iOS Appstore daily, and with such rapid revolutionizing progress & acceptance of these apps by consumers, the segment witnessed exponential growth in recent years. Hence, based on its current growth rate, the iOS system shall dominate the market with the largest market share in the years to come.
Smartwatches to Witness the Fastest Market Growth
Based on Application, the Global Mental Health Application Market segments into Smartwatches and Smartphones. Here, Smartwatches are more likely to attain the fastest market growth in the forecast period. It owes prominently to factors like smartwatches becoming a new norm for monitoring mental health and well-being. It is likely to boom the growing adoption of mental health apps offering seamless internet of things (IoT) connectivity. Every month, companies & researchers launch new Smart technologies for the healthcare market. All these advancements are surging the demand for Smartwatches and increasing the adoption of technology management solutions. Therefore, based on these aspects, Smartwatches are very likely to witness the fastest overall market growth in the forecast period, states MarkNtel Advisors in their research report, “Global Mental Health Application Market Analysis, 2021.”
Regional Landscape
North America Accounted for the Largest Market Share
The Global Mental Health Application Market is gaining incredible success across the globe at a robust pace. Yet, when it comes to the largest share, North America dominated the market in the previous few years and is likely to continue its dominance in the forecast period, too. It owes prominently to factors like the growing awareness of mental health issues and the abundant availability of numerous application developers in the region. Besides, the burgeoning population levels and increasing technological developments are other critical aspects making smartphones & apps available to a broader audience. All these factors are together enabling the regional market to continue its dominance in the forecast period.
Market Driver
The need to generate excessive paperwork & improper revenue cycle management resulting in the high cost of treatments, which needs sooner resolutions, are the prime factors surging the adoption of mental health applications as the best alternative means to reduce medication errors & paperwork. Moreover, enhancing productivity by ensuring quick patient data access, workflow efficiency, and reducing healthcare costs is another critical aspect likely to drive the global mental health application market, especially among large hospitals & community clinics.
Competitive Landscape
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.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation, and Statistics
Frequently Asked Questions
A. The Global Mental Health Application Market is likely to grow at a CAGR of around 31% in the forecast period of 2021-26.
A. 7 Cups, Addicaid, Calm, NOCD, Recovery Record, Sanvello, Happify Inc., Headspace, Mayo Foundation, Mindshift Interactive, MY3, and Silvercloud Health are a few leading players in the Global Mental Health Application Market.
A. The Nori Sheets segment is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
A. North America continues to grow at the highest CAGR in the forecast period of 2021-26, presenting immense opportunities for market players of the Global Mental Health Application Market.
A. The need to generate excessive paperwork and improper revenue cycle management resulting in the high cost of treatments, which require prompt resolutions, are the prime factors surging the adoption of mental health applications as the best alternative to reduce medication errors & paperwork.
A. The pandemic is providing immense opportunities for the growth of the mental health application market, as medical practices of all sizes are under tremendous pressure, and healthcare providers need to rely on solutions to monitor & treat patients. Hence, the market attained a positive impact amidst the pandemic and is likely to continue at a robust pace.
