Market Trends of Mental Health Apps Industry
The Depression and Anxiety Management Segment is Expected to Witness Significant Growth During the Forecast Period
The depression and anxiety management segment is expected to witness significant growth over the analysis period owing to factors such as the increasing burden of depression and anxiety, growing initiatives for tackling depression and anxiety, and the launch of several mental health apps for managing depression and anxiety.
For instance, according to a report published by the Northstar Behavioral Health Network in March 2024, approximately 16% of American adults aged 18 and over suffered from a depressive illness, like major depression or dysthymia, in 2023.
Moreover, as the number of mental illness cases, such as depression or anxiety, increases, the chance of utilizing mental health apps rises, thereby boosting market segment growth. For instance, according to a report published by the World Health Organization in March 2023, an estimated 3.8% of the world population experienced depression, including 5% of adults and 5.7% of adults older than 60 years, in 2022. As per the same source, approximately 280 million people in the world suffered from depression in 2022. Thus, the statistics indicate a rise in the use of mental health apps for coping with these mental conditions. This is anticipated to surge over the coming years owing to the ease of access and integration of advanced technologies such as artificial intelligence and machine learning for tracking the underlying mental stressors.
Several market players are also launching mental health apps, contributing to the segment's growth. For instance, in January 2024, Headspace launched its integrated app for employers and health plan partners and expanded its employee assistance program (EAP) replacement solution.
Thus, due to the rise in depression and anxiety issues and the surge in new mental health application launches, the depression and anxiety segment is expected to witness growth during the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same During the Forecast Period
North America is anticipated to witness growth in the mental health apps market owing to factors such as the well-established healthcare IT industry, sophisticated technological infrastructure, the rising usage of mobile applications, and the increasing burden of stress, depression, and anxiety. Some other factors boosting the market's growth include the rising awareness about mental health and the initiatives undertaken by the market players.
The region’s high prevalence of mental illness is projected to drive market growth during the forecast period. For instance, according to a report published by the University of St. Augustine for Health Sciences in January 2024, the United States has over 580,000 individuals experiencing homelessness, with 21% of this population suffering from severe mental illnesses. Additionally, there were over 6.6 million visits to hospital emergency departments attributable to mental health issues. The region's increased burden of mental health conditions will likely boost the market growth.
Similarly, according to the report published by the National Alliance on Mental Illness (NAMI) in November 2022, 1 in 5 United States adults experience mental illness, and 1 in 20 adults experience serious mental illness. In addition, 17% of youth (6-17 years) experienced mental health disorders in 2023. This shows the high prevalence of mental illness among people in the country, which is expected to increase the demand for mental health apps and is likely to propel market growth during the forecast period.
Moreover, major players in the market are working on novel technologies and product launches to cater to the rising demand for mental health apps. For instance, in July 2023, Dalhousie University started working on the development of an app that uses artificial intelligence (AI) to assist people with mental health. Dubbed Recilify, the app uses journal entries and responses to assess a person's struggles. It offers interactive solutions to help with depression, grieving, trauma, anger, and other mental health issues.
Similarly, in February 2022, Noble, a new innovative, mental health-focused company, launched its new app, offering automated between-session support and therapist-created, research-backed content for clients. Such developments indicate the growing demand for mental health apps in the country, contributing to market growth.
Thus, the North American mental health apps market is expected to grow significantly due to increased mental health issues, rising awareness, and technological advancements. Key players are advancing novel solutions to meet the rising demand.
