Global Mental Health Technology Market projected to reach USD 43.9 billion by 2033

From GlobeNewswire: 2024-09-09 16:00:00

The Global Mental Health Technology Market is set to grow from USD 8.9 billion in 2023 to USD 43.9 billion by 2033, with a CAGR of 17.3%. Technology like mindfulness apps and teletherapy are helping meet the rising demand for mental health support outside of traditional therapy. Data privacy concerns are a limiting factor for market growth. The clinical segment dominates the market, driven by government initiatives to improve patient care. The patient segment is expected to grow the fastest, with an increasing number of patients seeking self-care solutions. North America holds the largest market share, while Europe is anticipated to grow at the fastest pace due to increasing interest in mental health technology. Major key vendors in the market include Headspace, Talkspace, BetterHelp, and SilverCloud Health. Recent developments include a partnership between MHRA and NICE to improve regulation of digital mental health technologies. The market is segmented by functionality (clinical, financial, administrative) and end-user. Spherical Insights & Consulting provides actionable market research for various industries to aid decision-makers and drive ROI. Contact for more information.



Read more at GlobeNewswire: Global Mental Health Technology Market Size To Worth USD