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What is the market for mental health apps?
The global mental health apps market size was valued at USD 5.2 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 15.9% from 2023 to 2030. The global mental health apps market size was estimated at USD 4.4 billion in 2021 and is expected to hit around USD 19.6 billion by 2030 and increase at a CAGR of 18.06% during the forecast period 2022 to 2030. Deloitte Global predicts that global spending on mobile mental health apps will reach close to $500 million in 2022 assuming an annual growth rate of 20%. That figure could be much higher considering these apps grew 32% – from $203 million to $269 million – from the first 10 months of 2019 to the same period in 2020. Revenue in the Digital Fitness & Well-Being Apps segment is projected to reach US$28.93bn in 2023. 1 in 5 adults in America experience a mental illness. Nearly 1 in 25 (10 million) adults in America live with a serious mental illness.
Who uses mental health apps?
If you’re among the nearly 36% of Americans who report symptoms of anxiety or depression, you may have used—or thought about using—a mental health app for support. The Pros of Mental Health Care Apps Anonymity: Clients can seek treatment options without involving other people. An introduction to care: Technology may be a good first step for those who have avoided mental health care in the past. Lower cost: Some apps are free or cost less than traditional care. You can charge users a per-visit fee for letting them talk to a mental health specialist through your mobile app. This can be your major source of revenue. However, it is advisable to avoid showing ads on your app as it downgrades the user experience. There is some evidence that mental health awareness programs can increase individual’s knowledge about mental health, but there is no convincing evidence that awareness campaigns change the things that really matter; help-seeking for mental health problems, suicidal behaviour, or reaching out to help others. That unwanted accolade goes to anxiety. An estimated 275 million people suffer from anxiety disorders.
Why do people use mental health apps?
These apps enable users to enhance their self-awareness by controlling their mood, maintaining good habits and breaking bad ones, and cultivating positive thinking. If you’re among the nearly 36% of Americans who report symptoms of anxiety or depression, you may have used—or thought about using—a mental health app for support. Mental health apps claim to treat depression, anxiety, and other mental illnesses without therapy appointments. There’s no wait time involved, and every person with a smartphone has immediate access. In addition to their convenience, many apps are free. Published reviews have found that mental health apps can be effective for reducing anxiety [8] and depression [9] with an overall effect size of small to moderate [10]. Within this research, there are some notable shortcomings, including substantial heterogeneity across studies. Mental health apps have been around as long as the devices that offer them, but starting in 2016, the digital tools exploded both in number and popularity. Today there are approximately 10,000 to 20,000 mental health apps available, according to the American Psychological Association.
How successful are mental health apps?
Published reviews have found that mental health apps can be effective for reducing anxiety [8] and depression [9] with an overall effect size of small to moderate [10]. Within this research, there are some notable shortcomings, including substantial heterogeneity across studies. Mental health apps have been around as long as the devices that offer them, but starting in 2016, the digital tools exploded both in number and popularity. Today there are approximately 10,000 to 20,000 mental health apps available, according to the American Psychological Association. The global mental health apps market size was estimated at USD 4.4 billion in 2021 and is expected to hit around USD 19.6 billion by 2030 and increase at a CAGR of 18.06% during the forecast period 2022 to 2030. Here are several frequently-overlooked positive effects that social media can have on mental health: Actively interacting with people — especially sharing messages, posts, and comments with close friends and reminiscing about past interactions — is linked to improvements in well-being. You can charge users a per-visit fee for letting them talk to a mental health specialist through your mobile app. This can be your major source of revenue. However, it is advisable to avoid showing ads on your app as it downgrades the user experience. Their flaws entail incredibly vague and messy privacy policies (Better Help, Better Stop Suicide); sharing personal information with third parties (Youper, Pray.com, Woebot); and even collecting chat transcripts (Talkspace).
Why do mental health apps fail?
Their flaws entail incredibly vague and messy privacy policies (Better Help, Better Stop Suicide); sharing personal information with third parties (Youper, Pray.com, Woebot); and even collecting chat transcripts (Talkspace).