Global Mental Health Apps Market Size & Share to Surpass $9.9 Billion by 2028: Vantage Market Research – GlobeNewswire

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| Source: Vantage Market Research Vantage Market Research
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WASHINGTON, Aug. 19, 2022 (GLOBE NEWSWIRE) — Rising utilization of mental health apps owing to their benefits in improving treatment outcomes and lifestyle and increasing awareness regarding mental health as a significant health condition are some of the major factors anticipated to drive the market.
The Global Mental Health Apps Market revenue is expected to reach a value USD 9.9 Billion in 2028.
The Global Market revenue was valued at USD 4.1 Billion in 2021 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 15.9% during the forecast period; states Vantage Market Research, in a report, titled “Mental Health Apps Market Size, Share & Trends Analysis Report by Platform Type (iOS, Android, Other Platforms), by Application Type (Depression & Anxiety Management, Meditation Management, Stress Management, Wellness Management), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028).
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Key Industry Findings & Insights from the report:
Market Dynamics:
Drivers:
An Influx of Apps offering Virtual Therapy for Mental Health
Experts and business leaders have emphasized the value of mental health and well-being for workers in various businesses over the past century. Schools and institutes collaborate with software developers to assist students in managing stress while studying. Modern lifestyles and fast-paced lives have influenced the market’s rising need for virtual treatment. Mobile phones have also improved the productivity of many professions and turned them into tools. Online treatment services have grown as a result of the rising frequency of mental health issues among generations. Moreover, increasing smartphone and internet penetration is fuelling the market growth. For instance, as per a 2021 report by Ericsson, the number of mobile subscriptions was more than 6 billion, which is expected to increase in the near future.
Shifting Trends from Traditional Methods of Care to Patient-Centric and Personalized Care
The adoption of mental health applications is aided by changing healthcare trends away from traditional treatment models and toward patient-centered and individualized care. Apps for managing one’s mental health, such as meditation, anxiety, depression, and well-being, help preserve one’s general health, encourage a healthier lifestyle, and lowering stress. Additionally, the COVID-19 epidemic has caused a rise in the use of mental health applications worldwide. During the pandemic, lockdowns in many parts of the world, rising levels of loneliness, an unbalanced work and personal life, and burnouts all contributed to a rise in the use of mental health applications. This can also be explained by the increase in mental health app downloads throughout this time.
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Benefits of Purchasing Mental Health Apps Market Reports:                  
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the manufacturing industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020.
Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
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The report on Mental Health Apps Market highlights:
Regional Analysis:
North America is expected to dominate the growth of Mental Health Apps Market in 2021. This dominance is owing to the growing adoption of smartphones, developments in coverage networks, and growing internet and social media penetration. However, Asia Pacific is anticipated to grow at the fastest CAGR over the forecast period. This surge in market growth is attributed to= factors such as rising demand for connected devices and the growing adoption of smartphones in the region.
List of Prominent Players in the Mental Health Apps Market:
Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on “Mental Health Apps Market Size, Share & Trends Analysis Report by Platform Type (iOS, Android, Other Platforms), by Application Type (Depression & Anxiety Management, Meditation Management, Stress Management, Wellness Management), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)“.
Recent Developments:
In April 2021: Offshore Titans, an online platform aimed at promoting mental health in the oil and gas industry, teamed up with the developer of a mobile app that reduces workplace stress. By using the app, workers will have the opportunity to inform their employer of any issues or concerns in real-time, anonymously.
In August 2021: K Health, a digital primary care platform providing high-quality, individualized healthcare to millions of adults and children, announced the acquisition of Trust, an app that connects consumers and providers of on-demand text-based therapy. This acquisition will expand K Health’s mental health services.
Key Questions Answered in The Report:
This market titled “Mental Health Apps Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
Customization of the Report:
The report can be customized as per client needs or requirements. For any queries, you can contact us on [email protected] or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
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About Vantage Market Research:
We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research reports. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.   
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