Emerging Mental Health Devices and Platforms Market to Grow with a CAGR of 19.35% through 2030
The rising
prevalence of anxiety and depression disorders and the increasing investment in
digital mental health platforms by healthcare providers, is expected to drive
the Global Emerging Mental Health Devices and Platforms Market growth in the
forecast period, 2026-2030
According to
TechSci Research report, “Emerging Mental Health Devices and Platforms
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2030F”, the Global Emerging Mental Health Devices and
Platforms Market stood at USD
4.26 Billion in 2024 and is expected to reach USD 12.33 Billion by
2030 with a CAGR of 19.35% during the forecast period. This can be due to
collaborations and partnerships among leading companies with a diverse approach
to merge the expertise of individual companies and to strengthen their position
in the market.
Telehealth
and teletherapy have played a significant role in driving the demand for
emerging mental health devices and platforms. These technologies have
transformed the mental health care landscape by making services more
accessible, convenient, and effective. Telehealth and teletherapy eliminate
geographical barriers, allowing individuals in remote or underserved areas to
access mental health services. This expanded accessibility increases the demand
for digital mental health solutions to facilitate remote care. Users can engage
in teletherapy sessions or access mental health resources from the comfort of
their homes or other convenient locations. This convenience encourages
individuals to seek help and support through digital platforms. Teletherapy and
digital platforms offer a level of privacy and anonymity that some individuals
find appealing. This can reduce the stigma associated with seeking mental health
support and encourage more people to use these services.
The
emergence of COVID-19 is anticipated to exert a substantial influence on the
emerging mental health devices and platforms market due to the surge in mental
health issues and the ongoing closure of clinics and hospital facilities
because of the pandemic. For example, as indicated in the World Health
Organization's report from June 2022, COVID-19 has had extensive repercussions
on mental health, with a notable increase in the number of individuals
experiencing psychological distress, as well as showing symptoms of
post-traumatic stress disorder, anxiety, or depression.
In
April 2022, Talkspace, the top virtual behavioral health service provider,
recently introduced Talkspace Self-Guided, a set of tools for businesses that
are intended to assist CEOs, managers, and teams in setting priorities for and
enhancing their emotional quotient (EQ) and mental wellbeing both within and
outside of the workplace. Talkspace Self-Guided is a single smartphone software
that offers employees tried-and-true mental health training that can be
accessed anonymously at any time and improves both their professional and
personal life. It goes beyond mindfulness exercises. Talkspace Self-Guided
enables organizations to increase employee access to mental health resources,
preserving talent, enhancing team dynamics, and giving staff members the
resources, they need to pursue a rewarding and healthy career.
Access
disparities are a significant challenge in the global emerging mental health
devices and platforms market. These disparities refer to the unequal access to
digital mental health services and resources among different populations and
communities. Economic disparities can affect access to mental health resources.
Those with lower incomes may have limited access to smartphones, computers, or
data plans, making it difficult to engage with digital mental health services. Access
to mental health services, including digital platforms, can be challenging in
remote or geographically isolated areas where healthcare infrastructure is
limited. Language and cultural differences can pose barriers to accessing
mental health devices and platforms. Platforms that do not offer content in
multiple languages or consider cultural norms may exclude certain populations. Health
disparities and inequities, such as those related to race, ethnicity, gender,
and sexual orientation, can affect access to mental health care, including
digital services. These disparities must be addressed to ensure equitable
access.
Browse over XX market data Figures and spread through XX Pages and an
in-depth TOC on "Global Emerging Mental Health Devices and Platforms Market”
The Global Emerging
Mental Health Devices and Platforms Market is segmented into type, application,
regional distribution, and company.
Based on the Application,
Anxiety emerged
as the fastest growing segment in the Global Emerging Mental Health Devices and
Platforms Market during the forecast period. This is due to its increasing
prevalence, rising awareness, and growing demand for accessible digital mental
health solutions. The World Health Organization (WHO) reports that anxiety
disorders affect millions worldwide, making them one of the most common mental
health conditions. Factors such as work-related stress, economic uncertainties,
social pressures, and lifestyle changes have contributed to the surge in
anxiety cases, driving individuals to seek effective and immediate support.
Digital mental health platforms and devices offer convenient, stigma-free, and
on-demand solutions, making them particularly appealing to individuals
experiencing anxiety. The adoption of artificial intelligence (AI)-powered
mental health tools, mobile applications, and teletherapy services has expanded
access to anxiety management techniques, including cognitive behavioral therapy
(CBT), mindfulness practices, and guided relaxation exercises.
Based
on the Region, Asia-Pacific emerged as the fastest growing region in the Global
Emerging Mental Health Devices and Platforms Market during the forecast period. The
expansion of smartphone usage and AI-driven mental health applications is also
driving market growth, particularly in emerging economies with limited access
to traditional psychiatric care. The rising adoption of wearable mental health
devices and self-help apps in countries with high youth populations is further
fueling demand. Increased investments from global and regional players in
AI-based mental health platforms and strategic collaborations with healthcare
providers are enhancing market expansion, making Asia-Pacific the
fastest-growing region in this sector.
Some
of the major companies operating in the Global
Emerging Mental Health Devices and Platforms Market include:
- Electromedical
Products International, Inc
- Ginger
Group Ltd.
- Happify
Health
- Headspace
Inc.
- Pear
Therapeutics, Inc.
- Quartet
Health
- Teladoc
Health Inc.
- Woebot
Health
- Clarigent
Health
- Feel
Therapeutics Inc.
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“The Global
Emerging Mental Health Devices and Platforms Market is expanding due to the
growing adoption of virtual reality (VR) and augmented reality (AR)
technologies in mental health therapy, offering immersive environments for
stress reduction, cognitive behavioral therapy (CBT), and exposure therapy.
These innovative solutions provide a more engaging and effective approach to
mental health treatment, particularly for anxiety, PTSD, and phobia management.
The ability of VR and AR platforms to simulate real-life scenarios in a
controlled setting enhances therapy outcomes and patient compliance, driving
their increasing adoption in mental healthcare.,” said Mr. Karan Chechi,
Research Director of TechSci Research, a research-based management consulting
firm.
“Emerging Mental Health
Devices and Platforms Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, Segmented By Type (Platforms, Devices), By
Application (Stress, Anxiety, Depression, Bipolar Disorder, Others), By Region
and Competition, 2020-2030F”, has evaluated the future growth potential of Global
Emerging Mental Health Devices and Platforms Market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Emerging Mental Health Devices and Platforms Market.
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