Mental Health Apps Market Size (2024 - 2029)

Mental Health Apps Market Analysis

The Mental Health Apps Market size is estimated at USD 7.09 billion in 2024, and is expected to reach USD 15.42 billion by 2029, growing at a CAGR of 16.82% during the forecast period (2024-2029).

The major factors boosting the growth of mental health apps are the increasing awareness of the importance of mental health, the surge in mental disorders, the rise in strategic initiatives undertaken by several companies within the mental healthcare industry, and the growing usage of mental health applications. For instance, according to a report published by Mental Health America in March 2023, in the United States, nearly 50 million adults, or 19.86%, experienced a mental illness in 2022. Among these individuals, 4.91% experience severe mental illness, which significantly impacts their daily functioning and quality of life.

According to a report published by the Pan-European Mental Health Coalition in January 2024, over 150 million people in the WHO European Region live with a mental health condition. Additionally, in 2024, only 1 in 3 people living with depression may receive the care they need. Thus, the rise in the incidence of depressive disorders leads to a surge in demand for mental health apps, which is expected to boost market growth during the forecast period.

Moreover, several companies, organizations, and governmental bodies are organizing campaigns to increase awareness of the importance of mental health. Hence, owing to the increasing awareness about mental health among the population, the market growth is likely to propel during the forecast period. For instance, in June 2022, the European Commission presented the “Healthier Together” initiative campaign to address other major non-communicable diseases in the European Union, such as cardiovascular diseases, diabetes and respiratory diseases, and mental health and neurological disorders.

Numerous companies are also involved in launching newer apps to help individuals with mental disorders. For instance, in April 2022, Talkspace, a provider of virtual behavioral health services, launched Talkspace Self-guided, a suite of offerings for employers designed to help executives, managers, and teams prioritize and build emotional intelligence (EQ) and mental wellness in and out of the workplace.

Thus, the market is expected to witness significant growth during the forecast period due to the rise in mental health issues and the surge in new mental health application launches. However, data privacy and research concerns are major factors hindering the market's growth.

Mental Health Apps Industry Segmentation

As per the scope of the report, mental health apps are designed to provide mental healthcare assistance to the patient population and can be accessed through mobile applications. These applications help track the mental health of individuals and invest in self-care. The mental health apps market is segmented by platform type, application, end users, and geography. The platform type segment is divided into Android, iOS, and other platforms. Other platform types include web-based and hybrid multi-platform. The application segment is divided into depression and anxiety management, stress management, meditation management, and other applications. The other applications include sleep aid and crisis support. The end user segment is bifurcated into homecare settings, mental hospitals, and other end users. The other end users include corporations and educational institutes. The geography is further divided into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. For each segment, the market sizing and forecasts are done based on value (USD).