Mental Health Psychedelic Apps Market Size is predicted to record a 19.2% CAGR during the forecast period for 2023-2031.
The surge in awareness regarding mental health issues and the significance of seeking treatment has generated a demand for mental health solutions, including psychedelic apps. Persistent advocacy endeavours and endorsements from mental health entities and professionals have emphasized the potential advantages of psychedelic therapies and apps, thereby facilitating market expansion.
Additionally, the overarching trend in digital health, characterized by the widespread availability of health and wellness apps, has set the stage for the rise of mental health psychedelic apps. Factors like the rising incidence of mental health issues and the increasing recognition and promotion of mental health awareness drive the expansion of the worldwide market for these apps. Nonetheless, apps providing access to these therapies must incorporate more clinical data and research to establish credibility and address safety concerns. Some users rely solely on these apps as their primary source of mental healthcare, potentially constraining their overall effectiveness.
Competitive Landscape
Some Major Key Players In The Mental Health Psychedelic Apps Market:
- Field Trip Health
- Mindleap,
- Homecoming
- Mindbloom,
- me,
- Polyfauna, PsycheDev
- Wavepaths
- TripApp
- Hypnoglyph
- Fraksl ,
- Lumenate
- Last Voyage
- PsyStation
- Others
Market Segmentation:
The mental health psychedelic apps market is segmented on the basis of product and application. Based on product, the mental health psychedelic apps market is segmented as music/ creative/ artistic, visual/ patterns/ puzzle, and guidance/ lifestyle. By application, the mental health psychedelic apps market is segmented into Android & iOS and iOS.
Based On Product, The music/ creative/ Artistic Segment Is A Major Contributor In The Mental Health Psychedelic Apps Market.
The music/ creative/ artistic category is expected to hold a major share of the global mental health psychedelic apps market in 2022. The therapeutic setting incorporates crucial musical and artistic components. Some scientists have hypothesized that specific forms of art within a comfortable setting could optimize the immediate and lasting advantages of psychedelic therapy. Sound-based healing has the potential to enrich emotional experiences and support physical recovery. Integrating dance and music may trigger the release of endorphins, alleviate stress and anxiety, and foster a sense of community.
The IOS Segment Witnessed Growth At A Rapid Rate
The iOS segment is projected to grow at a rapid rate in the global Mental Health Psychedelic Apps market. The growth can be credited to the stronger emphasis on security and privacy in iOS. Since many mental health apps handle sensitive information, iOS is favoured for enhanced security measures. Notably, apps like 'Mindfulness,' designed for iOS, provide user-friendly features for self-reflection. Additionally, iOS is recognized for its seamless user interface, making it a preferred platform for mental health app developers.
In The Region, The North America Mental Health Psychedelic Apps Market Holds A Significant Revenue Share.
The North America Mental Health Psychedelic Apps market is expected to mark a tremendous share in terms of revenue in the near future. There is an increasing awareness and acceptance of the potential therapeutic benefits of psychedelic substances in mental health treatment. This awareness has led to various apps that provide information, resources, and digital support for individuals exploring these therapies. Research and clinical trials focused on the efficacy and safety of psychedelic therapies are on the rise in North America, which contributes to the evidence base supporting the use of mental health psychedelic apps.
In addition, the Asia Pacific regional market is projected to develop at a rapid rate, owing to escalating environmental apprehensions, swift industrialization, government initiatives, and augmented funding across diverse industries.
Recent Developments:
- In January 2023, Field Trip Health introduced a novel online therapy program that offers a blend of talk therapy, holistic well-being tools, and knowledge gained from its extensive involvement in ketamine-assisted therapy. This fresh online therapy platform is designed to cater to individuals in search of therapeutic assistance for specific mental or physical health issues. Additionally, it is open to those interested in incorporating insights and lessons from ketamine infusions or other psychedelic encounters.
- In Sept 2022, Mydecine Innovations Group Inc. and PanGenomic Health Inc. have entered into an arm's-length, non-binding LOI (Letter of Intent) for the acquisition of all issued and outstanding shares of Mindleap Health Inc., the wholly-owned subsidiary of Mydecine. With more than 40,000 organic downloads, the Mindleap App enabled PanGenomic to provide its users with a digital telehealth platform centered on the burgeoning psychedelics sector.
Mental Health Psychedelic Apps Market Report Scope
|
Report Attribute |
Specifications |
|
Growth Rate CAGR |
CAGR of 19.2% from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million 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 structure, growth prospects, and trends |
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Segments Covered |
By Therapy Type, O.S. Type |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Field Trip Health, Mindleap, Homecoming, Mindbloom, Microdose.me, Polyfauna, PsycheDev, Wavepaths, TripApp, Hypnoglyph , Fraksl , Lumenate , Last Voyage, PsyStation, Others. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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