February 01, 2021
According to the latest research report titled ‘Global Mental Health Application Market Analysis, 2020’, available with Market Study Report LLC, global mental health application market is estimated to record a y-o-y growth rate of 31% over 2020-2025.
Increasing instances of depression, alongside surging penetration of smartphones and smartwatches, subsequently enabling access of various apps are stimulating the growth of global mental health application market. Notably, patients suffering from mental distress prefer virtual apps over the physical visit to psychiatrist owing to social stigma associated with the same.
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Moreover, the outbreak of Covid-19 pandemic has posed as a boon for worldwide mental health application industry forecast, as the global crisis left many people jobless, leading to stress, depression, and negatively impact mental health.
The all-encompassing analysis of global mental health application market aims to provide the readers a thorough understanding about the industry dynamics. Apart from the favorable parameter, it also elaborates on the challenges and restraints prevailing in the business sphere. Moreover, the report scrutinizes the start-up ecosystem in the market space, and provide information about prominent venture capitalists & their portfolio, major startups & funding rounds, and detailed investment portfolio. It further emphasized on regional trends as well as competitive landscape of the market.
As per the operating system, the market is bifurcated into android, iOS, and others. Based on type, global mental health application market is classified into co-occurring disorder apps, substance-use disorder apps, and mental health disorder apps.
Moving on to subscription model, the industry is categorized into yearly, and monthly. The report cites that yearly subscription segment is poised to grow substantially through 2025, as these models provide lucrative discount offers, appealing to larger customer base.
Major players who are capable of influencing global mental health application industry dynamics are Silvercloud Health Ltd., Sanvello Health Inc., Recovery Record, NOCD, My3, MindShift Interactive, Mayo Foundation, Headspace, Happify Inc., The Calm Company, Addicaid (Twistor Labs Inc.), and 7 Cups.