Mental Health Apps Market Size

Mental Health Apps Market Analysis

The Mental Health Apps Market size is estimated at USD 7.09 billion in 2024, and is expected to reach USD 15.42 billion by 2029, growing at a CAGR of 16.82% during the forecast period (2024-2029).

The Mental Health Apps Market size is estimated at USD 7.09 billion in 2024, and is expected to reach USD 15.42 billion by 2029, growing at a CAGR of 16.82% during the forecast period (2024-2029).

The COVID-19 outbreak substantially impacted the mental health apps market and greatly boosted the digital health industry worldwide. The pandemic phase witnessed an upsurge in the usage of mental health apps for coping with conditions due to the limitations and restrictions on social distancing and isolation, affecting individuals' mental states. For instance, as per the article published in December 2021 by PubMed, due to the increased demand for services from mental health professionals, many people struggled to access in-person services, which led to an augmented demand for online and telehealth services, including a 50% increase in the number of Australian young people aged 18-25 who were accessing online mental health help and increased the downloads of mental health apps. Additionally, as per the article published in March 2021 in PubMed, among the 16 most downloaded apps, 10 were meditational, 13 showed increased downloads, and 11 apps showed a 10% increase in downloads after the pandemic started. As per the analysis, the market is anticipated to witness growth in the post-pandemic phase due to the rise in awareness regarding mental health and the increase in technological advancements in m-health services.

Furthermore, the major factors boosting the growth of mental health apps are the increasing awareness of the importance of mental health, the surge in mental disorders, the rise in strategic initiatives undertaken by several companies within the mental healthcare industry, and the growing usage of mental health applications. For instance, as per the State of Mental Health in America 2022 report, the number of youths experiencing a severe major depressive episode (MDE) increased by 197,000 from the 2021 dataset. Thus, the rise in the incidence of depressive disorders leads to a surge in demand for mental health apps, which is thereby expected to boost market growth over the forecast period.

Owing to the increasing awareness among the population, several companies, organizations, and governmental bodies are engaged in developing and launching mental health apps across various platforms. For instance, in April 2021, the GOI virtually launched the "MANAS" app to promote well-being across age groups. Furthermore, numerous companies are involved in launching newer apps into the market to help individuals with mental disorders. For instance, in October 2021, the Y Combinator-backed MentalHappy app initiated the goal of making mental health care accessible, affordable, and stigma-free by developing low-cost peer support groups within the app to boost access to conditions such as coping with anxiety, life after divorce, and black mental health. Similarly, in November 2021, Koo App & Fortis launched an awareness campaign on World Mental Health Day. Furthermore, in April 2022, Talkspace, a provider of virtual behavioral health services, launched Talkspace Self-Guided, a suite of offerings for employers designed to help executives, managers, and teams prioritize and build emotional intelligence (EQ) and mental wellness in and out of the workplace.

Thus, due to the rise in mental health issues and the surge in new mental health application launches, the market is expected to witness significant growth over the forecast period. However, data privacy and research concerns are major factors hindering the market's growth.