Dublin, Oct. 07, 2021 (GLOBE NEWSWIRE) -- The "Global Mental Health Application Market Research Report: Forecast (2021-2026)" report has been added to ResearchAndMarkets.com's offering.
The market is likely to grow at a CAGR of around 31% in the forecast period of 2021-2026
It owes to numerous factors, including the growing awareness about health applications among various industry players and increasing initiatives of collaborations by multiple governments & market players. Many players are introducing several applications for mindfulness & meditation solely for a new global well-being collaboration. These initiatives & collaborations are likely to bring mental health exercises, guided meditations, and sleep content to millions of employees, corporate customers, & guests and shall be made accessible worldwide in the coming years.
Impact of COVID-19
Undoubtedly, the outbreak of the COVID-19 pandemic made a negative impact on almost all industries throughout the globe. Yet, the Global Mental Health Application Market witnessed a significant rise amidst the pandemic. The COVID-19 disease was unknown before the outbreak began in Wuhan (China) in December 2019, and it took just a few weeks for the COVID-19 to move from a regional crisis to a global pandemic. The healthcare, biotechnology, and pharmaceutical industries are optimizing this situation to serve a maximum number of patients & healthcare professionals.
However, the pandemic is providing immense opportunities for the growth of the mental health application market, as medical practices of all sizes are under eternal pressure, and healthcare providers need to rely on efficient health applications to monitor & treat patients effectively. Hence, the market attained a positive impact amidst the pandemic and is likely to continue its robust growth in the coming years.
iOS Segment Likely to Attain the Largest Market Share
Amongst the Operating System, the Global Mental Health Application Market segments into Android, iOS, and Others. Here, the iOS segment is more likely to attain the largest market share in the forecast years. The iOS contained more health apps than that of the Android in the previous years. About 100 new healthcare applications get added to the iOS AppStore daily, and with such rapid revolutionizing progress & acceptance of these apps by consumers, the segment witnessed exponential growth in recent years. Hence, based on its current growth rate, the iOS system shall dominate the market with the largest market share in the years to come.
Smartwatches to Witness the Fastest Market Growth
Based on Application, the Global Mental Health Application Market segments into Smartwatches and Smartphones. Here, Smartwatches are more likely to attain the fastest market growth in the forecast period. It owes prominently to factors like smartwatches becoming a new norm for monitoring mental health and well-being. It is likely to boom the growing adoption of mental health apps offering seamless internet of things (IoT) connectivity. Every month, companies & researchers launch new Smart technologies for the healthcare market. All these advancements are surging the demand for Smartwatches and increasing the adoption of technology management solutions. Therefore, based on these aspects, Smartwatches are very likely to witness the fastest overall market growth in the forecast period.
North America Accounted for the Largest Market Share
The Global Mental Health Application Market is gaining incredible success across the globe at a robust pace. Yet, when it comes to the largest share, North America dominated the market in the previous few years and is likely to continue its dominance in the forecast period, too. It owes prominently to factors like the growing awareness of mental health issues and the abundant availability of numerous application developers in the region. Besides, the burgeoning population levels and increasing technological developments are other critical aspects making smartphones & apps available to a broader audience. All these factors are together enabling the regional market to continue its dominance in the forecast period.
Market Driver
The need to generate excessive paperwork & improper revenue cycle management resulting in the high cost of treatments, which needs sooner resolutions, are the prime factors surging the adoption of mental health applications as the best alternative means to reduce medication errors & paperwork. Moreover, enhancing productivity by ensuring quick patient data access, workflow efficiency, and reducing healthcare costs is another critical aspect likely to drive the global mental health application market, especially among large hospitals & community clinics.
Competitive Landscape
According to the report, the leading players in the Global Mental Health Application Market are 7 Cups, Addicaid, Calm, NOCD, Recovery Record, Sanvello, Happify Inc., Headspace, Mayo Foundation, Mindshift Interactive, MY3, Silvercloud Health, etc.
Key Questions Answered
1. What are the overall market statistics or market estimates (Market Overview, Market Size - By Value, Forecast Numbers, Market Segmentation, Market Shares) of the Global Mental Health Application Market?
2. What are the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Mental Health Application Market?
4. Who are the key competitors, their key strengths and weaknesses, and how do they perform in the Global Mental Health Application Market based on the competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the Global Mental Health Application Market study?
Key Topics Covered
1. Introduction
1.1. Product Definition
1.2. Research Process
1.3. Market Segmentation
1.4. Assumptions
2. Executive Summary
3. Impact of COVID-19 on Global Mental Health Apps Market
4. Expert Verbatim-Interview Excerpts of Industry Experts
5. Mental Health Overview
6. Global Mental Health App Start-up Ecosystem
6.1. Prominent Start-ups & Multiple Rounds of Funding
6.2. Venture Capital Investments
6.3. Prominent Venture Capitalists & Their Portfolio
7. Global Mental Health Apps Market Outlook, 2016-2026F
7.1. Market Size & Analysis
7.2. Market Share & Analysis
8. North America Mental Health Apps Market Outlook, 2016-2026F
9. South America Mental Health Apps Market Outlook, 2016-2026F
10. Europe Mental Health Apps Market Outlook, 2016-2026F
11. Middle East & Africa Mental Health Apps Market Outlook, 2016-2026F
12. Asia Pacific Mental Health Apps Market Outlook, 2016-2026F
13. Global Mental Health Apps Market Policies, Regulations, Product Standards
14. Global Mental Health Apps Market Customer Analysis, 2020-25F
15. Global Mental Health Apps Market Trends & Insights
16. Global Mental Health Apps Market Dynamics
16.1. Growth Drivers
16.2. Challenges
16.3. Impact Analysis
17. Global Mental Health Apps Market Hotspot & Opportunities
18. Global Mental Health Apps Market Key Strategic Imperatives for Success & Growth
19. Competition Outlook
19.1. Competition Matrix
19.2. Company Profiles of Top Companies (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/Partnerships, Future Plans)
- 7 Cups
- Addicaid
- Calm
- NOCD
- Recovery Record
- Sanvello
- Happify Inc.
- Headspace
- Mayo Foundation
- Mindshift Interactive
- MY3
- Silvercloud Health
For more information about this report visit https://www.researchandmarkets.com/r/z956eq
