The global emerging mental health devices and platforms market size is expected to grow from USD 2,568.6 million in 2021 to USD 18,717.5 million by 2030, at a CAGR of 24.6% from 2022 to 2030. Mental health is a ‘state of well-being in which an individual realizes his or her abilities, can cope with the normal stresses of life, can work productively, and contribute to his or her community.’ Mental health disorders are one of the major concerns across the globe. According to Our World In Data, a U.K.-based Global Change Data Lab Charity project, mental health disorders impacted approximately one billion individuals between 1990-2017 globally. Furthermore, the one billion patients can be divided into 503.55 million females and 467.26 million males, substantiating that the mental conditions are more common in females.
One of the key factors driving the growth of the global emerging mental health devices and platforms market is the growing adoption of digital mental health solutions in emerging economies such as Asia-Pacific, Latin America, the Middle East & Africa. For instance, according to a study conducted by NCBI, titled, ‘Telemental Health in Low- and Middle-Income Countries: A Systematic Review,’ in 2018, videoconferencing was the most common mode of teleconsultations in low- and medium-income countries. The wide adoption of video conferencing also reflects the development of the countries in terms of internet connectivity and exposure to high-end technologies. Other mediums of teleconsultations included chatting and telephonic interview.
Furthermore, according to another study conducted by NCBI, titled, ‘Mental Health Research in the Lower-Middle-Income Countries of Africa and Asia During the COVID-19 Pandemic: A Scoping Review’, in 2020, telepsychiatry was one of the well-known methods for ensuring the mental well-being of the people in emerging countries. Consequently, the increasing adoption rate of digital mental health solutions in emerging countries would propel the rise of local start-ups, further propelling the growth of the global market.
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COVID-19 Impact on the Global Emerging Mental Health Devices and Platforms Market
The global emerging mental health devices and platforms market witnessed significant growth in 2020 owing to the COVID-19 pandemic. The growth driving factors included increased adoption of mental health platforms by users, favorable regulations and reimbursement for telehealth consultations, and employers' inclusion of mental health in employee assistance programs (EAPs).
COVID-19 pandemic harmed the mental well-being of the global population, including children and adolescents. For instance, according to a study conducted by the National Center for Biotechnology Information (NCBI), titled, ‘How is COVID-19 Pandemic Impacting Mental Health of Children and Adolescents?’, in 2020, children in various developmental phases indicated high rates of depression, anxiety, and post-traumatic stress disorder (PTSD) during the pandemic. Furthermore, the risk of mental health disorders has increased in countries with high COVID-19 mortality rates. For instance, according to a study conducted by JAMA Network, titled, ‘Mental Health Disorders Related to COVID-19–Related Deaths’, in 2020, one of the major post-pandemic concerns is the projected rise in incidence rates of PTSD, prolonged grief disorder, and substance use disorders in the U.S. Thus, to ensure the mental well-being of the citizen's various countries' federal governments issued emergency guidelines for improving access to digital mental care.
In July 2020, Quartet Health partnered with Centene Corporation to expand Quartet Health telepsychiatry services nationwide. Moreover, in May 2020, Learn to Live, Inc. made its COVID-19 Wellbeing Center publicly accessible without additional costs.
Global Emerging Mental Health Devices and Platforms Market Dynamics
Drivers: Growing Demand for Teleconsultations in the Wake of COVID-19 Pandemic
The demand for telehealth platforms witnessed an unprecedented surge during the COVID-19 pandemic. Containment measures such as global lockdown and social distancing harmed the in-patient visits that propelled the adoption of telehealth platforms for diagnosis, preliminary treatment, and monitoring of the patients.
Subsequently, to ensure the mental well-being of individuals, telehealth was considered a suitable model for care delivery. The 24/7 physician availability, online community support, and constant accessibility through text, video, and audio modalities propelled the adoption of telehealth platforms. Furthermore, the following figure represents the demand for telepsychiatry consultations is anticipated to increase during the post-COVID-19 scenario. As represented, the symptoms reporting spiked in 2021 to 41.10% compared to 11% in the pre-COVID-19 scenario.
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Restraints: Lack of Clinically Validated Scientific Data
One of the major barriers to adopting mental health platforms in clinical facilities is the lack of clinically validated scientific data. For instance, according to a study conducted by NCBI, titled, ‘Smartphones in Mental Health: A Critical Review of Background Issues, Current Status, and Future Concerns,’ in 2020, the lack of regulations for mental health mobile applications or minimal regulations pose a risk of ambiguity between the physician and mobile platform diagnosis. Furthermore, the measurement inaccuracies in the wearables such as overestimation, underestimation, high variability, and absence of benchmarking with industry gold standards also result in incorrect findings. These limitations of mental health mobile applications and technology integrated devices hinder the patients' overall delivery and remote monitoring.
Opportunities: Development of Portable Mental Health Devices
One of the opportunities for companies entering the global emerging mental health devices and platforms market is the development of portable mental health devices. The demand for such devices is anticipated to increase during the forecast period owing to the limited number of psychiatrists, rising prevalence of mental health disorders, and increasing focus on remote patient monitoring of mental health patients. Furthermore, the development of portable mental health devices can also be expanded in pre-screening and early patient diagnosis, hence limiting visits and consequently healthcare expenditure.
Companies such as Flow Neuroscience AB (Sweden) and Ybrain, INC (South Korea) are already operating in the segment. The companies have developed portable mental health therapy devices that the patient can use directly without psychiatrist intervention and offer therapy for depression treatment.
Scope of the Emerging Mental Health Devices and Platforms
The study categorizes the emerging mental health devices and platforms market based on product type, application, therapy, and end-users at the regional and global levels.
By Product Type Outlook (Sales, USD Million, 2017-2030)
- Platforms
- Devices
By Application Outlook (Sales, USD Million, 2017-2030)
- Stress
- Anxiety
- Depression
- Bipolar Disorder
- Schizophrenia
- Others
By Therapy Outlook (Sales, USD Million, 2017-2030)
- Cognitive Behavior Therapy (CBT)
- Electrotherapy
- Others
By End-Users Outlook (Sales, USD Million, 2017-2030)
- Patients
- Providers
- Employers
- Others
By Region Outlook (Sales, USD Million, 2017-2030)
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
The platform segment is projected to account for the largest market share, by product type
Based on product type, the global emerging mental health devices and platforms market is segmented into devices and platforms. In 2021, the platform segment was accounted for the largest market share. The platforms segment of the market comprises mobile applications, telehealth platforms, digital therapeutics, provider-centric solutions, and employee-centric solutions used for diagnosis, monitoring, and treatment of mental health. The solutions can either be used directly by the consumers or by an organization to improve individuals' mental well-being.
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However, one of the drawbacks of the platforms is the lack of clinically validated data on the effectiveness of mental health solutions. For instance, according to a study conducted by National Center for Biotechnology Information (NCBI) titled, ‘Effectiveness of Using Mental Health Mobile Apps as Digital Antidepressants for Reducing Anxiety and Depression: Protocol for a Multiple Baseline Across-Individuals Design,’ in 2020, the evidence base for the mental health applications is significantly low. Furthermore, another study conducted by NCBI, titled, ‘The Digital Psychiatrist: In Search of Evidence-Based Apps for Anxiety and Depression, in 2019, emphasized the inclusion of clinicians and researchers in the mental health application development process for ensuring scientific evidence of their effectiveness.
Asia Pacific accounts for the highest CAGR during the forecast period
Based on the regions, the global emerging mental health devices and platforms market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR of 29.9% in the global emerging mental health devices and platforms market during the forecast period. Japan is the leading contributor in the Asia-Pacific region. The country held a 25.89% share in 2021. Moreover, India is anticipated to hold a 15.45% share in the Asia-Pacific emerging mental health devices and platforms market by the end of 2030.
The key driving factors for Japan emerging mental health devices and platforms market include a favorable reimbursement landscape, rising focus on the digital health ecosystem, and launch of technologically advanced medical devices through partnerships. Furthermore, a limited mental health workforce in the country is also propelling the adoption of emerging mental health devices and platforms. The key driving factors for Japan emerging mental health devices and platforms market include a favorable reimbursement landscape, rising focus on the digital health ecosystem, and launch of technologically advanced medical devices through partnerships. Furthermore, the presence of a limited mental health workforce in the country is also propelling the adoption of emerging mental health devices and platforms.
Key Market Players
The emerging mental health devices and platforms market is mildly concentrated in nature with few numbers of global players operating in the market such as The key players profiled in the report include Electromedical Products International, Inc., AbleTo, Inc., Flow Neuroscience AB, Ginger, Happify Health, Lyra Health, Inc., Monsenso A/S, Neuronetics, Headspace Inc., Pear Therapeutics, Inc., Quartet Health, Talkspace, Teladoc Health, Inc., Woebot Health, Psious, and Ybrain, Inc. Every company follows its business strategy to attain the maximum market share.
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