Mental Health App Market to Hit US$ 14.72 Billion by 2034: Fact.MR Analysis

Rockville, April 26, 2024 (GLOBE NEWSWIRE) — Social, psychological, and behavioural aspects in today’s day and age are primarily leading to development of various mental disorders among individuals. Fact.MR, a market research and competitive intelligence provider, in its recently updated industry report, reveals that the global mental health app market is approximated at US$ 7.19 billion in 2024 and is projected to reach US$ 14.72 billion by 2034.

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Depression and anxiety are the main reasons increasing the adoption of mental wellness apps. The rising cases of neurological disorders across the globe are also driving the demand for mental fitness apps. Digital mental health software solutions are gaining traction due to the factors such as individuals choose not to disclose their mental health details with others and easy accessibility of online remedies.

• According to PubMed article ‘2023 Alzheimer’s disease facts and figures’, around 6.7 million people living in the United States aged 65 and older are experiencing Alzheimer’s issue.
• According to World health Organization, approximately 1 in 4 people are suffering from anxiety.

Healthcare researchers across the globe are also working on incorporation of apps in mental health issue management. Nowadays, people worldwide are widely using digital tools such as mental health apps to cure anxiety, stress, and other neurological issues.

Report Attribute	Details
Value Projection (2034)	US$ 14.72 Billion
Growth Rate (2024-2034)	7.4 % CAGR
No. of pages	170 Pages
No. of Tables	54 Tables
No. of Figures	114 Figures

Key Takeaways from Market Study

• Global demand for mental health apps is foreseen to increase at a CAGR of 7.4% during the next 10 years.
• The market in the United States is forecasted to reach US$ 5.08 billion by 2034.
• Revenue from mental health apps in South Korea are evaluated at US$ 274.2 million in 2024.
• iOS-based mental health app demand is anticipated to rise at a CAGR of 7.4% through 2034.

Related Market Projections for 2034

Mental Fitness App Market	US$ 2.75 Billion
Mental Health Software Market	US$ 29.45 Billion
Mindfulness Meditation App Market	US$ 1.45 Billion
mHealth App Market	US$ 220 Billion

“Rising mental health awareness and initiatives by several public and private organizations set to create lucrative opportunities for mental health app providers over the coming years”, says a Fact.MR analyst.

Key Companies Profiled in This Report

• Happify Inc.
• Calm
• Headspace Inc.
• Flow and Youper Inc.
• Sanvello Health
• MoodTools
• Talkspace
• MoodMission Pty Ltd.
• Ustwo Company Ltd.

Competitive Analysis

The mental health app market is characterized by the presence of prominent companies and emergence of start-ups. Established players are adopting strategies such as mergers & acquisitions, collaborations with research institutions, and global expansions to boost their market shares and presence. Start-ups are investing in technological advancements to introduce mental health apps with advanced and effective features.

• SPEEQO is a United Kingdom-based start-up that offers voice-based machine learning software. The company’s software detects speech change, classify emotions from texts, and analyse word choice. This advanced solution offered by SPEEQO is expected to promote employees well-being.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global mental health app market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights on the market based on platform type (android, iOS, others) and application (depression & anxiety management, stress management, meditation management, wellness management, others), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

Explore More Related Studies Published by Fact.MR Research: 

Mental Health Software Market: The global mental health software market is estimated at US$ 5.48 billion in 2024 and is projected to reach a size of US$ 29.45 billion by 2034.

mHealth Apps Market: The mHealth Apps market is expected to increase at the CAGR of 14.3% over the period of next 10 years.

Mindfulness Meditation App Market: The global mindfulness meditation app market is set to end up at a value of US$ 646.9 million in 2024 and further expand at a high-value CAGR of 8.4% to reach US$ 1.45 billion by 2034.

Mental Fitness Apps Market: Worldwide demand for mental fitness apps is projected to register a CAGR of 16.4% through 2033.

About Fact.MR:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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