Chatbots for Mental Health and Therapy Market Report: Trends, Forecast and Competitive Analysis to 2030

Chatbots for Mental Health and Therapy Trends and Forecast

The future of chatbots for the global mental health and therapy market looks promising with opportunities in the conversational interfaces and behavioral pattern recognition markets. Chatbots for the global mental health and therapy market is expected to reach an estimated $1.3 billion by 2030 with a CAGR of 5.8% from 2024 to 2030. The major drivers for this market are surge in prevalence of mental health conditions, shortage of mental health professionals, and rising awareness towards the benefits of chatbots for mental health.

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Chatbots for Mental Health and Therapy by Segment

The study includes a forecast of chatbots for the global mental health and therapy by component, technology, application, and region.

Chatbots for Mental Health and Therapy Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• Saas
• Others

Chatbots for Mental Health and Therapy Market by Technology [Shipment Analysis by Value from 2018 to 2030]:

• Machine Learning and Deep Learning
• Natural Language Processing
• Others

Chatbots for Mental Health and Therapy Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Conversational Interfaces
• Behavioral Pattern Recognition
• Others

Chatbots for Mental Health and Therapy Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Chatbots Companies for the Mental Health and Therapy Market

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies chatbots companies for the mental health and therapy market cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of chatbots companies for the mental health and therapy are profiled in this report include-

• Wysa
• Ginger
• Woebot Health
• Marigold Health
• Bark Technologies
• Mindstrong Health
• BioBeats
• Lyra Health
• Cognoa
• MeQuilibrium

Chatbots for Mental Health and Therapy Market Insights

Lucintel forecasts that machine learning and deep learning will remain the larger segment over the forecast period due to growing demand for chatbots, which can monitor treatment plan and sessions along with the effectiveness of the therapy.

Within this market, conversational interfaces will remain the largest segment as it provides supports and copy mechanisms for people suffering with mental health conditions while helping people to identify and manage their symptoms, and also connect them with mental health resources and professionals.

North America will remain the largest region over the forecast period due to the increasing demand for accessible mental health support, presence of robust healthcare IT infrastructure, and supportive regulatory environment in the region.

Features of Chatbots for the Global Mental Health and Therapy Market

Market Size Estimates: Chatbots for mental health and therapy market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Chatbots for mental health and therapy market size by component, technology, application, and region in terms of value ($B).

Regional Analysis: Chatbots for mental health and therapy market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different components, technologies, applications, and regions of chatbots for the mental health and therapy market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of chatbots for the mental health and therapy market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is chatbots for the mental health and therapy market size?

Answer: Chatbots for the global mental health and therapy market is expected to reach an estimated $1.3 billion by 2030.

Q2. What is the growth forecast for chatbots for mental health and therapy market?

Answer: Chatbots for the global mental health and therapy market is expected to grow with a CAGR of 5.8% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of chatbots for the mental health and therapy market?

Answer: The major drivers for this market are surge in prevalence of mental health conditions, shortage of mental health professionals, and rising awareness towards the benefits of chatbots for mental health.

Q4. What are the major segments for chatbots for mental health and therapy market?

Answer: The future of chatbots for the mental health and therapy market looks promising with opportunities in the conversational interfaces and behavioral pattern recognition markets.

Q5. Who are the key chatbots companies for mental health and therapy market?

Answer: Some of the key chatbots companies for mental health and therapy market are as follows:

• Wysa
• Ginger
• Woebot Health
• Marigold Health
• Bark Technologies
• Mindstrong Health
• BioBeats
• Lyra Health
• Cognoa
• MeQuilibrium

Q6. Which chatbots for mental health and therapy market segment will be the largest in future?

Answer: Lucintel forecasts that machine learning and deep learning will remain the larger segment over the forecast period due to growing demand for chatbots, which can monitor treatment plan and sessions along with the effectiveness of the therapy.

Q7. In chatbots for mental health and therapy market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to the increasing demand for accessible mental health support, presence of robust healthcare IT infrastructure, and supportive regulatory environment in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities of chatbots for the mental health and therapy market by component (saas and others), technology (machine learning and deep learning, natural language processing, and others), application (conversational interfaces, behavioral pattern recognition, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?