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.

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Global Digital Mental Health Market Demand Outlook, COVID-19 Impact, Trend Analysis By Deployment (Mental Health Chatbots, Tele psychiatry, Mindfulness & Meditation Apps, Mobile / Platform Based CBT, VR/AR Based Therapy), By Component, By Software Services, By End Use and Industry Estimates 2020-2027

– “https://quantalignresearch.com/global-digital-mental-health-market-report“

Key insights: 

• 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 market 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.