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Emerging Mental Health Devices and Platforms Market

Emerging Mental Health Devices and Platforms Market Size, Share & Trends Analysis Report By Products (Platforms and Devices), Therapies (Cognitive Behavior Therapy (CBT), Electrotherapy, and Other Therapy), End-Users, Applications (Stress, Anxiety, Depression, Bipolar Disorder, Schizophrenia), By Region, And Segment Forecasts, 2023-2031

Report ID : 1762 | Published : 2024-05-16 | Pages: 180 | Format: PDF/EXCEL

The Global Emerging Mental Health Devices and Platforms Market Size is valued at 2.62 billion in 2022 and is predicted to reach 17.64 billion by the year 2031 at a 23.77% CAGR during the forecast period for 2023-2031.

Key Industry Insights & Findings from the Report:

  • People have become more aware of digital mental health solutions, which is driving the demand for new mental health devices and platforms.
  • Favourable regulations and reimbursement for telehealth consultations, alongside employers' integration of mental health into employee assistance programs (EAPs), fueling the demand for emerging mental health devices and platforms.
  • North America dominated the market and accounted for a global revenue share in 2023.
  • major challenge for the emerging mental health devices and platforms market is the lack of scientifically validated data. Many of these tools lack rigorous testing and evidence-based research to prove their effectiveness in treating conditions such as anxiety and depression.

Emerging Mental Health Devices and Platforms Market

Mental health is a severe upcoming health issue due to the covid-19 pandemic. According to a new survey by WHO, the COVID-19 outbreak has disrupted critical mental health services in 93% of countries worldwide. The rapid invention of various healthcare applications is expected to drive growth opportunities for the mental health devices and platforms market in the coming future. 

AI-powered technologies acquired popularity in 2020 and have increased, becoming life-changing by 2022. AI chatbots, such as Wysa and Woebot, may assist patients with cognitive-behavioural Therapy (CBT). People who use these gadgets will also find them helpful in dealing with their symptoms in between consultations. 

The Covid-19 pandemic also caused a significant anxiety scale due to social isolation, unemployment, and constant anxiety about the virus. As a result, mental health is now more vital than ever. This is also reflected in numbers: according to the World Health Organisation (WHO), depression will be the most significant healthcare issue by 2030, with a global cost of $6 trillion. 

Driving factors of the emerging mental health devices and platforms market include advancements in medical technologies, surging use of mobile applications and the internet, rising awareness regarding digital healthcare services, increasing mental health problems, changing living standards, and the need for cost-effective and home healthcare services. Furthermore, the high demand for Telehealth services and the increasing efforts by pharmaceutical companies to digitalize healthcare services are projected to boost the growth opportunities for this market. However, the factors such as data security issues, the high cost of devices, and the need for validated scientific data may hamper the emerging mental health devices and platforms market expansion over the forecast years. 

Key developments in Emerging Mental Health Devices and Platforms Market market:

  • In October 2021, Ginger and Headspace merged to create Headspace Health, a $3 billion entity combining mindfulness with coaching and therapy services to offer a comprehensive digital mental health solution.

Competitive Landscape:

Some of the emerging mental health devices and platforms market players:

  • AbleTo, Inc.
  • Calm
  • Electromedical Products International, Inc.
  • Flow Neuroscience AB
  • Ginger
  • Headspace Inc.
  • HAPPIFY HEALTH
  • Lyra Health, Inc
  • Monsenso A/S
  • Neuronetics
  • Pear Therapeutics, Inc.
  • Psious
  • Quartet Health
  • Talkspace
  • Teladoc Health, Inc.
  • Woebot Health
  • Ybrain, INC
  • Bioself Technology Ltd
  • INNOVATIVE NEUROLOGICAL DEVICES
  • Lief Therapeutics
  • NeuroSigma, Inc
  • Sentio Solutions Inc
  • Other Prominent Players

Market Segmentation:

The emerging mental health devices and platforms market can be segmented into Products, Therapies, End-Users, Applications, and regions. The product segment includes Platforms and Devices, and the devices segment is anticipated to record high growth in the near future. On the basis of Therapy, the market is divided into Cognitive Behavior Therapy (CBT), Electrotherapy, and Other Therapy. End-users divide the market into Patients, Providers, Employers, and Other End Users. In terms of applications, the market comprises Stress, Anxiety, Depression, Bipolar Disorder, Schizophrenia, and Other Applications. Regionally, the market can be segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

The North America Emerging Mental Health Devices And Platforms Market Holds A Significant Revenue Share In The Region

North America is dominating the emerging mental health devices and platforms market, and it will continue this trend over the forecast period 2023-2031. This can be due to the high prevalence of mental disorders, advanced medical technologies, the increasing number of essential payers and products, and awareness about digital healthcare facilities for mental health. On the other hand, Asia-Pacific’s market is also expected to grow faster due to the high prevalence of mental disorders.

Emerging Mental Health Devices and Platforms Market Report Scope:

Report Attribute

Specifications

Market size value in 2022

USD 2.62 Bn

Revenue forecast in 2031

USD 17.64 Bn

Growth rate CAGR

CAGR of 23.77 % from 2023 to 2031

Quantitative units

Representation of revenue in US$ Billion, and CAGR from 2023 to 2031

Historic Year

2019 to 2022

Forecast Year

2023-2031

Report coverage

The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends

Segments covered

Products, Therapies, End-Users, Applications

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia

Competitive Landscape

AbleTo, Inc., Calm, Electromedical Products International, Inc., Flow Neuroscience AB, Ginger, Headspace Inc., HAPPIFY HEALTH, Lyra Health, Inc, Monsenso A/S, Neuronetics, Pear, Therapeutics, Inc., Psious, Quartet Health, Talkspace, Teladoc Health, Inc., Woebot Health, Ybrain, INC, Bioself Technology Ltd, INNOVATIVE NEUROLOGICAL DEVICES, Lief Therapeutics, NeuroSigma, Inc, Sentio Solutions Inc

Customization scope

Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing and available payment methods

Explore pricing alternatives that are customized to your particular study requirements.

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Emerging Mental Health Devices And Platforms Market Snapshot

Chapter 4. Global Emerging Mental Health Devices And Platforms Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Products Estimates & Trend Analysis
5.1. by Products & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Products:

5.2.1. Platforms
5.2.2. Devices

Chapter 6. Market Segmentation 2: by Therapy Estimates & Trend Analysis
6.1. by Therapy & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Therapy:

6.2.1. Cognitive Behavior Therapy (CBT)
6.2.2. Electrotherapy
6.2.3. Other Therapy

Chapter 7. Market Segmentation 3: by End-Users Estimates & Trend Analysis
7.1. by End-Users & Market Share, 2019 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by End-Users:

7.2.1. Patients
7.2.2. Providers
7.2.3. Employers
7.2.4. Other End-Users

Chapter 8. Market Segmentation 4: by Applications Estimates & Trend Analysis
8.1. by Applications & Market Share, 2019 & 2031
8.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Applications:

8.2.1. Stress
8.2.2. Anxiety
8.2.3. Depression
8.2.4. Bipolar Disorder
8.2.5. Schizophrenia
8.2.6. Other Applications

Chapter 9. Emerging Mental Health Devices And Platforms Market Segmentation 5: Regional Estimates & Trend Analysis

9.1. North America

9.1.1. North America Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by Products, 2023-2031
9.1.2. North America Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by Therapy, 2023-2031
9.1.3. North America Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by End-Users, 2023-2031
9.1.4. North America Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by Applications, 2023-2031
9.1.5. North America Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

9.2. Europe

9.2.1. Europe Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by Products, 2023-2031
9.2.2. Europe Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by Therapy, 2023-2031
9.2.3. Europe Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by End-Users, 2023-2031
9.2.4. Europe Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by Applications, 2023-2031
9.2.5. Europe Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

9.3. Asia Pacific

9.3.1. Asia Pacific Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by Products, 2023-2031
9.3.2. Asia Pacific Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by Therapy, 2023-2031
9.3.3. Asia-Pacific Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by End-Users, 2023-2031
9.3.4. Asia-Pacific Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by Applications, 2023-2031
9.3.5. Asia Pacific Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

9.4. Latin America

9.4.1. Latin America Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by Products, 2023-2031
9.4.2. Latin America Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by Therapy, 2023-2031
9.4.3. Latin America Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by End-Users, 2023-2031
9.4.4. Latin America Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by Applications, 2023-2031
9.4.5. Latin America Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

9.5. Middle East & Africa

9.5.1. Middle East & Africa Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by Products, 2023-2031
9.5.2. Middle East & Africa Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by Therapy, 2023-2031
9.5.3. Middle East & Africa Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by End-Users, 2023-2031
9.5.4. Middle East & Africa Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by Applications, 2023-2031
9.5.5. Middle East & Africa Emerging Mental Health Devices And Platforms Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

Chapter 10. Competitive Landscape

10.1. Major Mergers and Acquisitions/Strategic Alliances

10.2. Company Profiles


10.2.1. AbleTo, Inc.
10.2.2. Calm
10.2.3. Electromedical Products International, Inc.
10.2.4. Flow Neuroscience AB
10.2.5. Ginger
10.2.6. Happify Health
10.2.7. Headspace Inc.
10.2.8. Lyra Health, Inc.
10.2.9. Monsenso A/S
10.2.10. Neuronetics
10.2.11. Pear Therapeutics, Inc.
10.2.12. Psious
10.2.13. Quartet Health
10.2.14. Talkspace
10.2.15. Teladoc Health, Inc.
10.2.16. Woebot Health
10.2.17. Ybrain, Inc.
10.2.18. Other Prominent Players

Segmentation of Emerging Mental Health Devices And Platforms Market-

Emerging Mental Health Devices And Platforms Market by Products

  • Platforms
  • Devices

Emerging Mental Health Devices and Platforms Market

Emerging Mental Health Devices And Platforms Market by Therapy

  • Cognitive Behavior Therapy (CBT)
  • Electrotherapy
  • Other Therapy

Emerging Mental Health Devices And Platforms Market by End-Users

  • Patients
  • Providers
  • Employers
  • Other End-Users

Emerging Mental Health Devices And Platforms Market by Applications

  • Stress
  • Anxiety
  • Depression
  • Bipolar Disorder
  • Schizophrenia
  • Other Applications

Emerging Mental Health Devices And Platforms Market  by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

How big is the Emerging Mental Health Devices and Platforms Market?

Emerging Mental Health Devices and Platforms Market expected to grow at a 23.77% CAGR during the forecast period for 2023-2031

AbleTo, Inc., Calm, Electromedical Products International, Inc., Flow Neuroscience AB, Ginger, Headspace Inc., HAPPIFY HEALTH, Lyra Health, Inc, Monse

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