Digital Psychotherapeutics Market
Digital Psychotherapeutics Market Forecasts to 2030 - Global Analysis By Type (Cognitive Behavioural Therapy (CBT), Mindfulness-based Therapy and Other Types), Solution (Mobile Applications, Web-based Platforms, Virtual Reality (VR) Solutions, Wearable Devices and Other Solutions), Business Model, Application, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $1.06 BN |
|
Projected Year Value (2030) |
US $10.25 BN |
|
CAGR (2023 - 2030) |
27.6% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Digital Psychotherapeutics Market is accounted for $1.06 billion in 2023 and is expected to reach $10.25 billion by 2030 growing at a CAGR of 27.6% during the forecast period. Digital psychotherapeutics refers to the use of digital technologies, such as mobile apps and online platforms, to deliver therapeutic interventions for mental health issues. These solutions often incorporate evidence-based therapeutic techniques, such cognitive-behavioural therapy (CBT) or mindfulness, and can provide remote and accessible support to individuals seeking mental health care.
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, 1 out of every 8 individuals in this world suffers from a psychological disorder.
Market Dynamics:
Driver:
Increasing mental health disorders
The heightened societal stressors, economic uncertainties and the impact of the digital age surge in mental health disorders. Also, modern lifestyles, with high-pressure work environments and constant connectivity, may exacerbate mental health challenges, leading to a notable increase in the prevalence of mental health disorders. Digital psychotherapeutics leverage technology to offer scalable, personalized interventions, making mental health support more widely available. This surge in demand is driving the expansion of the market, as individuals and healthcare providers increasingly turn to digital solutions to address the escalating challenges associated with mental health disorders.
Restraint:
Data privacy & security concerns
The sensitive nature of mental health data makes it a prime target for cyber threats, potentially leading to unauthorized access and misuse. Patients may hesitate to adopt digital psychotherapeutic solutions due to fears of breaches in confidentiality. Building robust encryption and authentication mechanisms is crucial to instill trust among users, but the persistent threat of data breaches remains a key challenge, impeding the widespread adoption of digital psychotherapeutics.
Opportunity:
Rising user-friendly platforms & apps
The user-friendly platforms and apps leverage user-centric design and advanced technologies to enhance accessibility and engagement in mental health interventions. With a focus on convenience and personalized experiences, these rising platforms cater to a broader audience, fostering increased adoption of digital psychotherapeutics. As the demand for accessible mental health solutions continues to rise, the market is poised for expansion through these user-friendly applications.
Threat:
Competition with traditional therapies
While the convenience and accessibility of digital solutions offer advantages, some individuals and healthcare providers may still prefer or rely on traditional therapeutic approaches. Skepticism around the efficacy and reliability of digital psychotherapeutics may impede their acceptance. Trust in well-known methods and the personalized nature of traditional therapy contributes to the competitive landscape. Therefore, the established reputation and long-standing acceptance of traditional therapeutic methods pose a significant challenge for the market to gain traction.
Covid-19 Impact
The covid-19 pandemic has significantly accelerated the adoption of Digital Psychotherapeutics, witnessing a surge in demand as mental health challenges escalated globally. The increased awareness of mental well-being, coupled with lockdowns and social distancing measures, prompted a shift towards remote and digital mental health solutions. Teletherapy platforms, mental health apps, and virtual support tools experienced heightened acceptance, driving the digital psychotherapeutics market.
The wearable devices segment is expected to be the largest during the forecast period
The wearable devices segment is estimated to have a lucrative growth. Wearable devices play a pivotal role in digital psychotherapeutics by integrating technology into mental health interventions. These devices, often worn on the body, collect real-time physiological data, enabling personalized and data-driven therapy. They enhance therapy effectiveness by monitoring vital signs, sleep patterns, and activity levels, providing therapists with objective insights. This continuous data stream fosters more targeted interventions and allows for timely adjustments to treatment plans.
The anxiety disorders segment is expected to have the highest CAGR during the forecast period
The anxiety disorders segment is anticipated to witness the highest CAGR growth during the forecast period. Digital psychotherapeutics offer promising solutions for anxiety disorders by providing accessible, personalized, and scalable interventions. These platforms often incorporate evidence-based therapeutic techniques, cognitive-behavioural therapy modules, and mindfulness practices to address anxiety symptoms. It’s convenient and flexible approach to mental health care fuels the segment demand.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the increasing awareness of mental health issues, rising smartphone penetration, and advancements in technology. The covid-19 pandemic's impact on mental health raised the acceptance of telehealth in the region. China is well-known for its strong technology infrastructure and telemedicine, mobile health applications, & wearable gadgets have seen tremendous improvements in the country. Thereby, robust advancements in telemedicine and digital health technology is likely to continue pushing growth in the region.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period owing to the favourable reimbursement scenarios. The digital psychotherapeutics industry in the United States is expected to progress as the country's mental health awareness grows. Anxiety, depression, and post-traumatic stress disorder (PTSD) are common mental health illnesses in the United States. North America is a key player in shaping the future of digital psychotherapeutics, fostering innovation and accessibility. The region's well-established healthcare infrastructure, coupled with a growing acceptance of digital interventions, fosters market expansion.
Key players in the market
Some of the key players profiled in the Digital Psychotherapeutics Market include Pear Therapeutics, Akili Interactive, Happify Health, Headspace, Ginger, Lantern, Limbix, Big Health, Mindstrong Health, NeuroFlow, SilverCloud Health, Talkspace, Woebot Health, Kaia Health, Novartis, Spring Health, Koa Health and Meru Health.
Key Developments:
In November 2023, Spring Health, the most comprehensive global mental health solution for employers and health plans, announced the launch of a new dedicated teen experience. Spring Health for teens is the latest innovation in the Family Care suite of services, which offers mental health care and support for all ages.
In November 2018, Sandoz, a division of Novartis partnered with Pear Therapeutics and launched reSET — a substance use disorder treatment that was the first software-only therapeutic cleared by the FDA. reSET is a 12-week digital cognitive behavioral therapy program accessed through an app and designed to accompany outpatient care delivered by a physician.
Types Covered:
• Cognitive Behavioural Therapy (CBT)
• Mindfulness-based Therapy
• Other Types
Solutions Covered:
• Mobile Applications
• Web-based Platforms
• Virtual Reality (VR) Solutions
• Wearable Devices
• Other Solutions
Business Models Covered:
• Direct-To-Patients/Consumers
• Business-To-Business (B2B)
Applications Covered:
• Anxiety Disorders
• Depression
• Substance Use Disorders
• Sleep Disorders
• Eating Disorders
• Other Applications
End Users Covered:
• Healthcare Providers
• Patients
• Employers
• Insurers
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Digital Psychotherapeutics Market, By Type
5.1 Introduction
5.2 Cognitive Behavioural Therapy (CBT)
5.3 Mindfulness-based Therapy
5.4 Other Types
6 Global Digital Psychotherapeutics Market, By Solution
6.1 Introduction
6.2 Mobile Applications
6.3 Web-based Platforms
6.4 Virtual Reality (VR) Solutions
6.5 Wearable Devices
6.6 Other Solutions
7 Global Digital Psychotherapeutics Market, By Business Model
7.1 Introduction
7.2 Direct-To-Patients/Consumers
7.3 Business-To-Business (B2B)
8 Global Digital Psychotherapeutics Market, By Application
8.1 Introduction
8.2 Anxiety Disorders
8.3 Depression
8.4 Substance Use Disorders
8.5 Sleep Disorders
8.6 Eating Disorders
8.7 Other Applications
9 Global Digital Psychotherapeutics Market, By End User
9.1 Introduction
9.2 Healthcare Providers
9.3 Patients
9.4 Employers
9.5 Insurers
10 Global Digital Psychotherapeutics Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Pear Therapeutics
12.2 Akili Interactive
12.3 Happify Health
12.4 Headspace
12.5 Ginger
12.6 Lantern
12.7 Limbix
12.8 Big Health
12.9 Mindstrong Health
12.10 NeuroFlow
12.11 SilverCloud Health
12.12 Talkspace
12.13 Woebot Health
12.14 Kaia Health
12.15 Novartis
12.16 Spring Health
12.17 Koa Health
12.18 Meru Health
List of Tables
1 Global Digital Psychotherapeutics Market Outlook, By Region (2021-2030) ($MN)
2 Global Digital Psychotherapeutics Market Outlook, By Type (2021-2030) ($MN)
3 Global Digital Psychotherapeutics Market Outlook, By Cognitive Behavioural Therapy (CBT) (2021-2030) ($MN)
4 Global Digital Psychotherapeutics Market Outlook, By Mindfulness-based Therapy (2021-2030) ($MN)
5 Global Digital Psychotherapeutics Market Outlook, By Other Types (2021-2030) ($MN)
6 Global Digital Psychotherapeutics Market Outlook, By Solution (2021-2030) ($MN)
7 Global Digital Psychotherapeutics Market Outlook, By Mobile Applications (2021-2030) ($MN)
8 Global Digital Psychotherapeutics Market Outlook, By Web-based Platforms (2021-2030) ($MN)
9 Global Digital Psychotherapeutics Market Outlook, By Virtual Reality (VR) Solutions (2021-2030) ($MN)
10 Global Digital Psychotherapeutics Market Outlook, By Wearable Devices (2021-2030) ($MN)
11 Global Digital Psychotherapeutics Market Outlook, By Other Solutions (2021-2030) ($MN)
12 Global Digital Psychotherapeutics Market Outlook, By Business Model (2021-2030) ($MN)
13 Global Digital Psychotherapeutics Market Outlook, By Direct-To-Patients/Consumers (2021-2030) ($MN)
14 Global Digital Psychotherapeutics Market Outlook, By Business-To-Business (B2B) (2021-2030) ($MN)
15 Global Digital Psychotherapeutics Market Outlook, By Application (2021-2030) ($MN)
16 Global Digital Psychotherapeutics Market Outlook, By Anxiety Disorders (2021-2030) ($MN)
17 Global Digital Psychotherapeutics Market Outlook, By Depression (2021-2030) ($MN)
18 Global Digital Psychotherapeutics Market Outlook, By Substance Use Disorders (2021-2030) ($MN)
19 Global Digital Psychotherapeutics Market Outlook, By Sleep Disorders (2021-2030) ($MN)
20 Global Digital Psychotherapeutics Market Outlook, By Eating Disorders (2021-2030) ($MN)
21 Global Digital Psychotherapeutics Market Outlook, By Other Applications (2021-2030) ($MN)
22 Global Digital Psychotherapeutics Market Outlook, By End User (2021-2030) ($MN)
23 Global Digital Psychotherapeutics Market Outlook, By Healthcare Providers (2021-2030) ($MN)
24 Global Digital Psychotherapeutics Market Outlook, By Patients (2021-2030) ($MN)
25 Global Digital Psychotherapeutics Market Outlook, By Employers (2021-2030) ($MN)
26 Global Digital Psychotherapeutics Market Outlook, By Insurers (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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