Emerging Mental Health Devices and Platforms Market worth USD 18,717.5 million by 2030

The Market Statsville Group (MSG) publishes the new report on the "Emerging Mental Health Devices and Platforms Market by Product Type (Platforms and Devices), by Application (Stress, Anxiety, Depression, Bipolar Disorder, Schizophrenia), by Therapy (Cognitive Behavior Therapy, Electrotherapy), by End-Users), by Region – Global Share and Forecast to 2030". The global emerging mental health devices and platforms market size is estimated to grow USD 18,717.5 million by 2030 from USD 2,568.6 million in 2021, at a CAGR of 24.6% during the forecast period. One of the digital mental health solutions used to treat mental health conditions is digital therapeutics. Various companies such as Akili Interactive Labs, Inc., Pear Therapeutics, Inc., and Click Therapeutics, Inc operate in the segment and have a strong product pipeline that would drive the growth of the global emerging mental health devices and platforms market. Considering the rising adoption of digital solutions for mental health treatment, various pharmaceutical companies such as Novartis International AG and Sanofi S.A. have entered the market via partnerships with digital therapeutics developers. Pharmaceutical companies have secured exclusive commercialization rights for digital therapeutics through these partnerships.

Global Emerging Mental Health Devices and Platforms Market Segmentation

The overall emerging mental health devices and platforms market has been segmented into the product type, application, therapy, end-users, and region.

• By Product Type (Platforms and Devices)
• By Application (Stress, Anxiety, Depression, Bipolar Disorder, Schizophrenia, and Others)
• By Therapy (Cognitive Behavior Therapy (CBT), Electrotherapy, and Others)
• By End-Users (Patients, Providers, Employers, and Others)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

CBT segment, by therapy, is estimated to hold the largest market share during the forecast period

Based on the therapy offered, the global emerging mental health devices and platforms market can be segmented into cognitive behavior therapy (CBT), electrotherapy, and others. The CBT therapy segment held the largest share in the market in 2021, and the trend is anticipated to continue during the forecast period 2022-2030. The CBT therapy segment held the largest share in the market in 2019, and the trend is anticipated to continue during the forecast period 2021-2030. The segment's growth would be propelled by a high success rate, the presence of a vast range of therapy modules, the presence of numerous mental health platforms, and the cost-effectiveness of the solutions.

Followed by CBT, electrotherapy held the second-largest share in the global market in 2021. The segment's growth would be propelled by technology integration in treatment devices and the presence of regional companies. However, the development of novel therapies and the physical side effects of electrotherapy will restrain the segment's growth.

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North America accounts for the largest market share in emerging mental health devices and platforms market 2021

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. In 2020, North America accounted for the highest market share of 60.2% in the global emerging mental health devices and platforms market and was anticipated to maintain its dominance throughout the forecast period. North America is the hub for emerging mental health start-ups. Various key companies such as Neuronetics, Teladoc Health, Inc, Calm, and Headspace, Inc. generate most of their revenue from the region. Moreover, companies such as CompanionMx, Inc and Lyra Health, Inc. are also based in North America.

The U.S. accounted for the major share in North America's emerging mental health devices and platforms market, followed by Canada. The rising prevalence of mental health disorders, deep smartphone penetration, and early technology adoption are the key drivers for the country's growth in the market. The market growth is also propelled by funding from government organizations such as the National Institute of Mental Health (NIMH). Moreover, companies such as Neuronetics, Teladoc Health, Inc., Talkspace, Calm, Headspace, Inc, and Pear Therapeutics, Inc. are also advancing the growth of the U.S. emerging mental health devices and platforms market.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the emerging mental health devices and platforms market. It also consists of the profiles of leading companies such as AbleTo, Inc., Flow Neuroscience AB, Ginger, Happify Health, Lyra Health, Electromedical Products International, Inc., Inc., Monsenso A/S, Neuronetics, Quartet Health, Headspace Inc., Pear Therapeutics, Inc., Talkspace, Woebot Health, Psious, Teladoc Health, Inc., and Ybrain, Inc. These market players have focused on acquisitions and expansion to gain a larger market share in the emerging mental health devices and platforms market.

Browse complete report: https://www.marketstatsville.com/emerging-mental-health-devices-and-platforms-market

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