The global digital mental health market is projected to grow at a CAGR of 28.6% over the next six years
LONDON, UK, July 1, 2021 /EINPresswire.com/ —
The Global Digital Mental Health Market is likely to ascend at a CAGR of 28.6% over the forecast period (2021-2027) according to QuantAlign Research. The global digital mental Health software Market is expected to reach “USD 21,918.5” Million by 2027. Availability of innovative healthcare solutions and services is expected to drive growth of the global mental health software market over the coming years. The increasing geriatric population worldwide is expected to propel the global mental health software market growth over the forecast period.
Growing IT technology, the digital revolution, user-friendly graphical interfaces, mobile devices for cardiac patients, advancing wireless tracking devices, and a greater focus on quality-based treatment regimens are all contributing to the digital mental health market's global demand growth and development. Furthermore, the COVID pandemic 19 has also fueled the need for progress in mental health, which is at the forefront of the digital health movement now.
In recent years, new digital technologies for mental health assessment, support, prevention, and therapy have exploded. More than 10,000 mental health apps are now available, with around 100 new digital mental health start-ups launched each year. Instant crisis text messaging, digital or ‘versions of cognitive behavioral therapy (and online training packages for frontline staff) are examples of products that have proven effectiveness, are low cost, and are now assisting millions of people around the world. However, many other tools have underperformed, meaning the gap in ‘effective coverage’ for mental health disorders still remains, with as few as one in 10 people in need benefiting from traditional mental health services even in well resourced health systems.
Browse complete report with TOC: “Digital Mental Health Market Demand Outlook”
• Telepsychiatry deployment dominated the market in 2020, while VR/AR Based therapy segment is also expected to exhibit significant CAGR over the coming years
• North America was the largest market for digital mental health and is expected to remain largest over the forecast period, while Asia-Pacific along with MEA region is expected to offer wide array of opportunities and would be key markets over the forecast period
Key players operating in the market include: Woebot Labs, Inc., Wysa Ltd., Talkspace, BetterHelp, X2ai, Happify, Quartet Health, Ieso digital health, Mindstrong health, Clarigent Health, Meditopia, 7 cups, Moodpath are among others.
Key questions Answered in the report:
• What is the current total market and projected revenue for the global digital mental Health market from 2020 to 2027?
• Who are the major players in the global digital mental health market?
• What shares do the major players occupy?
• On what basis is the market segmented?
• How has the global digital mental health market performed, and what are its key drivers?
• What would be influence of the emerging trends in global digital mental Health?
• What is the degree of competition in the global digital mental health market?
• What are the key strategies adopted by the players operating in the global digital mental health market?
• What has been the impact of COVID-19 on the entire supply chain of global digital mental health market?
The report examines and provides an extensive overview of the global digital mental health market market. The report identifies key industry trends, and covers global digital mental health market landscape. The report builds a short- and long-term forecast model covering the period between 2021 to 2027.
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Source: EIN Presswire