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Key players recognize the importance of personalization in mental health apps and strive to offer tailored experiences that meet the individual needs and preferences of users. Integration with wearable devices and health platforms allows users to track relevant health metrics, such as sleep patterns, activity levels, and stress levels, and receive personalized recommendations and feedback based on this data.
Some of the eminent market participants operating in the mental health apps industry include:
Mental health apps industry from the home care settings segment reached USD 3.7 billion in 2023, primarily due to the convenience and accessibility that home-based mental health apps offer to users, aligning with the growing preference for remote and self-directed mental health support.
Industry size for mental health apps was worth USD 6.1 billion in 2023 and will grow at a 17.9% CAGR between 2024 and 2032, driven by the surge in mental health conditions, growing awareness and acceptance, and the expanding utilization of virtual therapy for mental well-being.
North America industry size recorded USD 3.5 billion in 2023 propelled by advanced technological infrastructure, high levels of digital literacy, and increasing awareness of mental health issues.
Some of the key market players are 7 cups of Tea, BetterSleep, Calm, Fabulous, Headspace Inc., Mindscape, MoodMission Pty Ltd., Relax, Sanvello Health, Woebot, and Youper, Inc., among others.