PUBLISHER: Grand View Research | PRODUCT CODE: 1404811
PUBLISHER: Grand View Research | PRODUCT CODE: 1404811
The global mental health apps market size is expected to reach USD 17.5 billion by 2030, growing at a CAGR of 15.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing mental health awareness and growing adoption of mental health applications due to their benefits in improving mental health and wellbeing are some of the key factors boosting market growth.
In 2023, iOS platform type segment dominated with a revenue share of over 48.9%. Rising adoption of iOS among consumers is one of the major parameters contributing to this growth. For instance, in September 2020, around 26% of iPod, iPad, and iPhone users adopted iOS 14 updates within 5 days of its release. Android platform type segment is anticipated to grow at the fastest CAGR of 16.6% from 2024 to 2030, owing to rising usage of Android. For instance, according to statistics quoted by Business of Apps in 2021, Android users increased from 2.3 billion in 2018 to 2.8 billion in 2020.
Depression and anxiety management application type segment accounted for a revenue share of over 25.0% in 2023, owing to the rising prevalence of depression and anxiety disorders and growing awareness of useful apps for their treatments. For instance, Flow, an app beneficial in managing depression, recorded an increase in sales of its at-home brain stimulation headset by around 247%. This headset is utilized along with the Flow app for depression treatment. In addition, as per reports published by Med-Tech Innovation, during COVID-19 pandemic, around 30% users of the Flow app and headset overcame depression. Such instances signify growing adoption, thereby propelling market's growth.
North America held a dominant revenue share of over 36.9% in 2023. Various factors such as developments in coverage networks, growth in adoption of smartphones, and rising prevalence of health conditions affecting mental well-being are driving the regional growth. In addition, rising demand for technological solutions in terms of software and applications for the population has led to an increase in adoption of mental health-based apps by healthcare providers and others. Increasing stress and other health conditions impacting mental health among the population is yet another factor impacting this growth.
COVID-19 pandemic has led to an increase in global utilization of mental health-based platforms. Increase in adoption of mobile health applications for maintaining mental and psychological health during the pandemic and rising remote monitoring are some of the factors promoting market's growth.