The Asia Pacific Mental Health Apps Market would witness market growth of 17.1% CAGR during the forecast period (2021-2027).
The market for these apps has a lot of potential. A mental health disease affects around 800 million individuals globally, or 11% of the world's population. Furthermore, evidence suggests that the COVID-19 pandemic has aggravated mental health concerns and produced a loss in well-being, with a significant increase in the prevalence of issues like anxiety, depression, post-traumatic stress symptoms, and stress. From June 2020 to March 2021, over four out of ten persons in the United States had anxiety and depression symptoms, compared to a significantly smaller fraction experiencing these symptoms from January to June 2019.
Although this may not represent an actual increase, some medical experts and researchers believe that the pandemic has encouraged individuals to talk about their mental health and making treatment more socially acceptable, indicating the prominence of the conditions addressed by mental health applications.
Owing to the factors such as increased internet penetration and people's or society's stress levels, East Asia is expected to be the fastest-growing area in the mental health applications market throughout the estimated period. In addition, the East Asia area contains both growing and developed economies, such as China and Japan. According to a report by the Economist Intelligence Unit (EIU), China's economic growth is anticipated to decline by US$ 11 trillion between 2020 and 2030 due to mental health difficulties.
As per studies done by WHO in Korea, over 75 percent of people trying suicide are suffering with more than one mental disorder. As a result, the rising incidence of mental illnesses and challenges in East Asia is pushing up demand for mental health services. Digital literacy is becoming more commonly used across the Asia Pacific area as living conditions improve. As a result, the number of smart devices, such as smartphones, laptops, and tablets, has risen. The creation of AI-based apps has increased dramatically in recent years, particularly in emerging nations.
The China market dominated the Asia Pacific Mental Health Apps Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $803.9 Million by 2027. The Japan market is experiencing a CAGR of 16.4% during (2021 - 2027). Additionally, The India market would exhibit a CAGR of 17.8% during (2021 - 2027).
Based on Application, the market is segmented into Depression & Anxiety Management, Meditation Management, Stress Management, Wellness Management, and Others. Based on Platform Type, the market is segmented into iOS, Android, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Mental Health Apps Market is Projected to reach USD 10.2 Billion by 2027, at a CAGR of 16.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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)
By Application
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