Digital Psychotherapeutics Market Size

Digital Psychotherapeutics Market Size

Digital Psychotherapeutics Market size was valued at around USD 1.2 billion in 2022 and is estimated to account over USD 16.9 billion by 2032. The prevalence of psychological disorders such as depression, anxiety, and stress-related ailments is rising globally. The increased prevalence of psychological disorders is boosting the demand for accessible and effective treatment choices, thus, fueling the expansion of digital psychotherapeutics.

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For instance, according to Australian Bureau of Statistics, in 2022, 21.5% of people had a 12-month mental disorder, with anxiety being the most common group (17.2% of people aged 16–85 years). In addition, according to World Health Organisation (WHO) fact sheet 2022, 1 out of every 8 individuals in this world suffers from a psychological disorder. Moreover, growing awareness of mental health concerns has reduced stigma and increased individuals' willingness to seek treatment. Individuals are becoming more self-aware of their mental health, that has substantially increased the demand for digital psychotherapeutics.

Digital psychotherapeutics are evidence-based therapy treatments and services given through digital technology and software applications. These treatments are intended to test, cure, or aid people suffering from a variety of psychological conditions, such as depression, anxiety, stress, and mood disorders.