Mental Health Apps Market Overview:
The purpose of this study is to provide an in-depth analysis of the Mental Health Apps market by component, application, industry, and geography. The study provides detailed information on the major factors influencing the growth of the Mental Health Apps industry. The study also provides a thorough examination of the market's value chain.
The mental health apps market is rising as individuals become more aware of the importance of mental health and as a result of the debut of several mental wellness applications. The introduction of significant health initiatives such as Campaign against Living Miserably (CALM) to promote awareness about mental health, as well as the rising usage of connected gadgets among the youthful population, is driving up market value. Additionally, poor work-life balance and eating habits, hectic schedules, social isolation, and relationship issues are all key factors that are increasing the risk of mental illness among individuals all over the world, particularly in developed and developing regions. Besides, it is expected that increased awareness among individuals in emerging countries, as well as the creation of updated and advanced featured apps, would provide prospective opportunities during the forecast period.
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Mental Health Apps Market Scope:
The research method used to assess and forecast the Mental Health Apps market begins with gathering revenue data from key suppliers using secondary research sources. When defining market segmentation, vendor offerings are also considered. Using the bottom-up method, the income of major corporations was utilized to assess the total size of the Mental Health Apps market.
Mental Health Apps Market Segmentation:
By platform type, the iOS market held a commanding lead in 2021, accounting for roughly 45.0 percent of all sales. The greater acceptance of iOS among consumers can be credited with the segment's growth. Business of Apps data from 2021 shows that iOS's market share in the UK rose from 47 percent in Q3 2020 to 51.6 percent in Q3 2021.
The depression and anxiety management category dominated the market for mental health apps by application type in 2021, accounting for more than 25.0 percent of market revenue. Increased awareness of mental health treatments for these issues, as well as an increase in the prevalence of anxiety and depressive disorders, are some of the main factors driving the segment growth.
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Mental Health Apps Market Key Players:
- Calm (United States)
- MoodMission Pty Ltd. (Australia)
- Sanvello Health (Minnesota)
- Headspace Inc. (United Kingdom)
- CVS Health (United States)
- Aurora Health Care (United States)
- Addicaid (New York)
- Happify Inc. (New York)
COVID-19 Impact Analysis on Mental Health Apps Market:
COVID-19 is a historic global public health emergency that has impacted virtually every business, and the long-term consequences are expected to have an impact on industry growth throughout the projection period. Our ongoing research expands our research methodology to include basic COVID-19 concerns as well as potential next steps. The research sheds light on COVID-19 by taking changes in consumer behaviour and demand, purchasing patterns, supply chain re-routing, the dynamics of modern market forces, and significant government initiatives into account. Based on the market impact of COVID-19, the updated report includes insights, analysis, projections, and predictions.
Key Questions Answered in the Mental Health Apps Market Report are:
- Which segment had the largest share in the Digital Mental Health market?
- How is the competitive scenario of the Digital Mental Health market in 2020?
- Which are the key drivers impacting the Mental Health Apps market growth?
- Which region holds the maximum share in the Mental Health Apps market?
- What will be the CAGR of the Mental Health Apps market during the forecast period (2021-2027)?
About Stellar Market Research:
Stellar Market Research is a market research and consulting firm that provides syndicated and custom research reports in addition to consulting services. The main goal of the company's products is to assist businesses in identifying, focusing on, and analysing changes in consumer behaviour across demographics and industries to assist them in making better business decisions. In order to provide relevant and fact-based research, the company conducts market intelligence studies in a variety of industries, including healthcare, touch points, and energy. With experience in many different industries, Stellar Market Research has a sizable staff of highly qualified analysts. Clients can gain a competitive advantage over their rivals thanks to the company's subject-matter expertise and capacity to provide a workable solution to any research problem.
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