New York, USA, 06 Dec. 2022 (GLOBE NEWSWIRE) — Digital Mental Health Market Insight:
According to a comprehensive research report by Market Research Future (MRFR), “Digital Mental Health Market Information by component, by type of disorder, by Age group, end user and by region – Forecast to 2030the market size is expected to reach USD 69.44 billion by 2030 at a CAGR of 20.3% during the forecast period 2022-2030.
It is common in the mental health field to use digital health technology systems to provide curative, preventive and supportive care. This is useful because it gives people the choice to take a therapeutic approach in a digital environment. Digital mental health technologies are making mental health help more accessible and lowering the threshold to start dealing with mental health challenges.
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|Market size in 2030||$69.44 billion|
|Year of reference||2021|
|Forecast units||Value (USD billion)|
|Report cover||Revenue forecasts, competitive landscape, growth factors and trends|
|Segments Covered||By component, disorder type, age group and end user|
|Geographical areas covered||North America, Europe, Asia-Pacific and Rest of the World (RoW)|
|Key Market Drivers||Increase in the prevalence of mental disorders|
|High demand for software among healthcare providers|
Digital Mental Health Market Competitive outlook:
Industry players use business tactics to improve their presence in the market. To begin their investigation, they deploy state-of-the-art technologies to collect patient data. Market players are also launching new products, entering into contracts, merging or acquiring other businesses, expanding their investments and forming partnerships in order to increase their global market share.
- The MENTOR network (USA)
- Brightline (USA)
- Chat room (US)
- CloudMD (Canada)
- Universal Health Services, Inc. (USA)
- DarioHealth Corp. (United States)
- CareTech Holdings PLC (UK)
- Seton Climb (USA)
- North Range Behavioral Health (USA)
- Behavioral Health Claims (US)
Digital Mental Health Market Dynamics:
The field of digital mental health was growing rapidly even before the COVID-19 outbreak, but the stress and anxiety caused by the health crisis has spurred demand for virtual behavioral health services. The success of digital mental health entrepreneurs means that more people can access mental wellness than they were theoretically able to before.
One of the major drivers for the expansion of the market is the growing prevalence of mental illnesses across the world. The market has also grown for other reasons, such as the rising incidence of mental illnesses and the growing need for digitalization in the medical industry. Additionally, significant prospects are expected to emerge in the market as a result of forming strategic alliances to provide low-cost medical services.
The need for digital mental health solutions has been steadily growing, but some countries in developing regions are unable to afford them. Companies are forming partnerships to offer more cost-effective services, which is opening up significant new market space. Market expansion opportunities are expected to be enhanced by partnerships between market companies to create innovative and low-cost offerings.
Yet market expansion has been hampered by a lack of resources and expertise. The lack of an appropriate infrastructure for digital mental health tools in poor countries has created a huge void. For this reason, demand for online resources to improve mental health is minimal. Additionally, the company is being held back by the lack of qualified staff to manage digital mental health solutions.
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The COVID-19 pandemic has caused the global burden of disease to skyrocket, leading to significant deaths. The outbreak has also hurt the global economy, disrupting the health sector and causing financial hardship. The exponential growth in patient reception and the increase in hospital admissions have put great pressure on health institutions as well as medical personnel. There has been an increase in cases of depression and anxiety due to the widespread spread of COVID-19. The outbreak has coincided with an increase in the use of online resources for mental health, due to growing public awareness of the importance of these resources. During the COVID-19 outbreak of 2009, these variables contributed to the expansion of the global digital mental health market.
Digital Mental Health Market Segmentation:
During the review period, the software industry gained momentum due to the widespread adoption of mobile applications. Web-based software is gaining popularity due to the reliability with which it provides information as well as increased efficiency, convenience and low cost. And now, thanks to the development of user-friendly apps, people have easier access to mental health services than ever before.
By type of disorder
The anxiety disorder market is expected to grow at a rapid rate during the assessment period. One of the main drivers for the expansion of this sector is the growing awareness of the effectiveness of mental health apps in treating anxiety and depression.
By age group
Growth in the adult population over the forecast period is expected to be particularly robust. Substance use disorders, anxiety disorders, depression and schizophrenia are the most common forms of mental illness in adults. Cognition, behavioral regulation and emotional regulation are particularly vulnerable to these disorders.
Per end user
In particular, the patient market is expected to grow rapidly over the assessment period. Digital mental health tools, such as cellphones and computers, allow patients to speak with their doctor by phone or video chat. During the global SARS-CoV-19 pandemic, it gained notoriety and utility. Due to technological developments, increased availability, and changes in insurance reimbursement policies, digital mental health solutions have grown in popularity among patients around the world.
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Digital Mental Health Market Regional analysis:
The rise in prevalence and understanding of mental health issues in the digital realm is driving demand in this area. The North American zone, which includes both the United States and Canada, is expected to hold the largest share of the digital mental health market in 2021. The development of better digital mental health tools and growing public awareness to these resources are both driving forces. in the expansion of this sector. Additionally, the growing demand for digital mental health solutions in the region is attributable to the growing prevalence of mental illnesses. Additionally, one in ten young people in the United States has experienced depression, which can negatively impact academic performance, job performance, relationships with family and friends, and other aspects of daily life. As a result, the increasing prevalence of digital mental health issues is opening promising new avenues for market expansion, further fueling the market.
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Growth in the Asia-Pacific region is expected to be particularly robust throughout the projected period due to the region’s growing penchant for the use of smartphones and other connected gadgets. Additionally, many countries in the region are adopting digital health and mobile health technology to improve healthcare management and patient outcomes. Thus, these types of programs are expected to increase the use of apps for mental health care in the coming years.
Discover more research reports on The health industry by Market Research Future:
Mental Health Software and Devices Market Information; By component (software (web-based and stand-alone software) and devices), by functionality (clinical (electronic health records (EHR), clinical decision support, health management, e-prescribing, telehealth and others), administrative (information management , planning, workforce management and others), financial (accounting, revenue cycle management, business intelligence and others) and others), end user (suppliers, payers and patients) – Forecasts to 2030
Behavioral Health Services Market Research report: by type of services (inpatient treatment, outpatient counseling, home treatment services), type of disorder (anxiety disorder, bipolar disorder, depression, eating disorder) and end user (providers, hospitals and clinics, community centers, patients) ) – Forecast to 2030
Behavioral Health Software Market Research Report: Information by Feature (Clinical Feature [Electronic Health Records (EHRs), Clinical Decision Support (CDS), Telehealth, and Others]Administrative functionality [Patient/Client Scheduling, Workforce Management, and Others]Financial functionality [Revenue Cycle Management, Managed Care, and Others]by delivery mode (subscription model and ownership model), by type (standalone and integrated), by end user (payers, providers and patients), by region, forecast to 2030
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