The Europe Mental Health Apps Market would witness market growth of 16.0% CAGR during the forecast period (2021-2027).
The adoption of mental health applications is aided by shifting trends away from traditional ways of therapy and toward patient-centric and individualised care. Meditation management apps, depression and anxiety management apps, and wellness management apps are all helpful in preserving an individual's general health, promoting a healthier lifestyle and lowering stress.
The benefits of such apps have been proven in studies and research, which has enhanced their adoption and penetration, consequently boosting demand. The goal of a 2019 study in the journal of Medical Internet Research was to see how successful an app for boosting well-being and stress management was. It produced favorable outcomes and was beneficial in reducing stress in the participants. Additionally, increasing funding opportunities for the development of various mental health apps indicate market growth opportunities.
The COVID-19 pandemic has put a strain on many people's mental health and brought to light difficulties that were already there. Cases of depression in France increased between 2010 and 2020, according to a report by the UK government, and people's worry has risen at the start of each shutdown in the country.
Organizations in this sector help people find therapists for mental health sessions, either in person or online. This could entail video conferencing with a therapist or using a text chat service. Ieso Health, a British startup, is the largest company in Europe in this sub-sector in terms of funding. Through a chat service, the company links patients to therapists for online counselling. According to the firm, it can be used to treat depression, anxiety, PTSD, phobias, and OCD. Simultaneously, VCs across the world have expanded investing for mental health businesses on the continent: in 2019 and 2020, funding into the sector surged 4.5 times.
The Germany market dominated the Europe Mental Health Apps Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $683.2 Million by 2027. The UK market is exhibiting a CAGR of 15% during (2021 - 2027). Additionally, The France market would display a CAGR of 16.9% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Mental Health Apps Market Size will Hit $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)
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