According to a new report, published by KBV research, The Global Mental Health Apps Market size is expected to reach $10.2 billion by 2027, rising at a market growth of 16.3% CAGR during the forecast period.
The Depression & Anxiety Management segment acquired maximum revenue share in the Global Mental Health Apps Market by Application in 2020, thereby, achieving a market value of $3.2 billion by 2027. The rising frequency of anxiety and depression illnesses, as well as increased awareness of mental health apps for treatment of these disorders, are two important factors driving the segment's rise.
The Android segment is showcasing a CAGR of 16.6% during (2021 - 2027). The increased usage rate of android-based smartphones, as well as the cost-effectiveness of android-based smartphones, is major factors driving sector growth. The expanding number of Android users is expected to drive market growth, indicating a faster pace of growth.
The North America is fastest growing region in the Global Mental Health Apps Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $3.8 billion by 2027. The Europe market is poised to grow at a CAGR of 16% during (2021 - 2027). Additionally, The Asia Pacific market would exhibit a CAGR of 17.1% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/mental-health-apps-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Calm.com, Inc., MoodMission Pty. Ltd., Sanvello Health, Inc. (UnitedHealth Group Incorporated), Headspace, Inc., Flow Neuroscience AB, Youper, Inc., Urban Massage Ltd., Happify, Inc., and SilverCloud Health, Inc. (American Well Corporation)
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