Emerging Mental Health Devices & Platforms Market Projected to Expand at XX% CAGR Through 2026
The Global Emerging Mental Health Devices & Platforms Market is anticipated to grow at a CAGR of around 23.3% during the forecast period, i.e., 2021-26, says MarkNtel Advisors. The burgeoning workload & increasing stress levels at workplaces that encourage the severity of mental illnesses is the most prominent factor contributing to the rising demand for Mental Health Devices & Platforms.
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Strategic Takeaways from the Report:
- Market Sizing and Forecasting
- Regulatory and Policy Influence
- Competitive Trends and M&A Activity
- Innovation Drivers and Disruptive Technologies
- Investment Hotspots and Emerging Niches
- Geographical Dynamics and Trade Flows
Emerging Mental Health Devices & Platforms Market Segment Overview & Classification
This market is categorized to offer targeted insights across various operational and consumer-related verticals.
Segment List:
By Application
- Stress
- Anxiety
- Depression
- Bipolar Disorder
- Schizophrenia
- Others (Dementia, Autism, etc.)
By Type
- Platforms
- Devices
- EEG and ECG head band
- Wearable Tracker
- Others (Brain-Sensing Device, etc)
There are many benefits associated with using Mental Health Platforms, which can fill gaps in service delivery & accessibility of consumers. Skilled & experienced psychiatrists are also abundantly available to assist consumers in engaging with a wide range of mental health tools & applications.
By Therapy
- Cognitive Behavioral Therapy(CBT)
- Electrotherapy
- Others (Interpersonal Therapy, Eye Movement Desensitization and Reprocessing (EMDR), Hypnotherapy, etc.)
By End-User
- Clinics & Hospitals
- Employers
- Patients
Of them all, Depression held the largest market in the previous few years and is expected to maintain its dominance during the forecast period, too. It is one of the most common mental illnesses worldwide, and around 3.8% of the world’s population is affected by it, states WHO. It includes 5.0% adults & 5.7% adults over 60 years, i.e., more than 280 million people worldwide.
By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific.
Of them all, North America captured the largest market share in recent years. The market dominance of North America attributes primarily to the increasing number of people in the region suffering from depression & anxiety. In North America, the United States tops the position of anxiety disorders as amongst the most common mental issues.
These divisions help clarify demand patterns and expected shifts.
Market Driver
- A Snowballing Adoption of E-mental health tools & applications due to mounting prevalence of mental health disorders
- Increasing adoption of teleconsultancy, especially after the COVID-19 pandemic
- Anytime & anywhere access to digital mental health platforms
- Surging number of mental health startups owing to increasing government investments in mental healthcare.
Emerging Mental Health Devices & Platforms Market Competitive Snapshot from 2021-2026
The report highlights established and emerging players in the global Emerging Mental Health Devices & Platforms Market, evaluating their strengths, challenges, and potential for innovation.
Key Competitors Include:
- AbleTo Inc.
- Calm
- Electromedical Products International Inc.
- Flow Neuroscience AB
- Ginger
- Happify Health
- Headspace Inc.
- Lyra Health Inc.
- Monsenso A/S
- Neuronetics
- Pear Therapeutics, Inc.
- Psious
- Quartet Health
- Talkspace
- Teladoc Health, Inc.
- Woebot Health
- Ybrain Inc.
- Bioself Technology Ltd
- Innovative Neurological Devices
- Lief Therapeutics
- NeuroSigma, Inc
- Sentio Solutions Inc.
Their activities include partnerships, product launches, and geographic expansions.
Emerging Mental Health Devices & Platforms Industry Prime Challenge
- Inadequate clinically validated data
- Increasing data privacy concerns.
Frequently Asked Questions (FAQs):
- What industries are most impacted by this market?
- How is technology reshaping operations and offerings?
- Which competitors dominate the landscape?
- What risks could disrupt market expansion?
- How should businesses respond to demand fluctuations?
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