Asia Pacific Mental Health Apps Market: Industry Analysis and Forecast (2023-2029) by Platform Type, Application, and Region
Asia Pacific Mental Health Apps Market size was valued at US$ 0.40 billion in 2022 and the Mental Health Apps revenue is expected to grow at 14% through 2023 to 2029, reaching nearly US$ 1.00 Billion.
Format : PDF | Report ID : SMR_248
Asia Pacific Mental Health Apps Market Definition & Overview:
The Mental Health Application Market is increasing at an exponential rate. However, the Asia-Pacific area is expected to grow at the quickest rate between 2021 and 2027. It is due to the increasing adoption of connected devices such as smartwatches and smartphones, increased public awareness of mental health concerns, and numerous collaborations by top corporations.
Asia Pacific Mental Health Apps Market Dynamics:
Governments throughout the world have enforced lockdowns and limitations since the breakout of COVID-19, forcing people to get accustomed to staying at home. Scheduling face-to-face encounters with health experts who can give the assistance they seek has become increasingly challenging. As a result, those seeking relief from anxiety or depression are increasingly turning to mental health apps as a realistic option, fuelling the Asia Pacific mental health app market's growth.
The need to create unnecessary paperwork and inappropriate revenue cycle management, which results in high treatment costs that require faster responses, are driving the use of mental health apps as the best alternative way to decrease prescription mistakes and paperwork. Additionally, increasing productivity by assuring rapid patient data access, improving workflow efficiency, and lowering healthcare costs is another key factor that is expected to boost the Asia pacific mental health application market, particularly among big hospitals and community clinics.
Asia Pacific Mental Health Apps Market Segment Analysis:
By Platform Type, among the other segments, the iOS segment is likely to have the biggest market share. iOS smartphones/devices have more health apps than Android smartphones/devices. And the smartwatches section, based on application, is expected to grow at the fastest rate. Smartwatches that track mental health and well-being are becoming popular. Top firms have also been investing in the R&D of new smart technologies for the healthcare sector in recent years. As a result, increased demand for smartwatches and technological solutions is expected to drive demand for mental health applications.
Asia Pacific Mental Health Apps Market Regional Insights:
During the forecast period from 2021 to 2027, the Asia Pacific, together with its rapidly rising economies China and India, is expected to have the fastest growth. According to a report by the Economist Intelligence Unit (EIU), mental health issues in India and China would impede economic development by US$ 11 trillion between 2020 and 2030. According to research conducted in Korea, over 75% of persons who attempt suicide have more than one mental condition. Because of its enormous working population, China currently accounts for almost 12% of the worldwide market for mental fitness applications. It has been estimated that more than half of the Chinese population is stressed, with 70% of those suffering from anxiety.
Suicide rates among persons with mental illnesses are seven times higher than the overall population in Australia. In addition, because of reasons such as increased internet penetration and people's or society's stress levels, East Asia is expected to be the fastest-growing region in the mental health applications market throughout the forecasted period. By 2027, demand for mental health apps in Japan is expected to increase by 4.7 times. Over the next 10 years, the market is expected to generate an absolute dollar potential of US$ 7.2 million. India is a rapidly growing market for health-related apps. The rising prevalence of depression and the lengthening of working hours are two major factors driving the development of mental fitness applications. During the forecast period, the Indian market is expected to grow at a CAGR of 15.1%.
The objective of the report is to present a comprehensive analysis of the Asia Pacific Mental Health Apps Market to the stakeholders in the industry. The report provides trends that are most dominant in the Asia Pacific Mental Health Apps Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Asia Pacific Mental Health Apps Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.
The qualitative and quantitative data provided in the Asia Pacific Mental Health Apps Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Asia Pacific Mental Health Apps Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Asia Pacific Mental Health Apps Market.
The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Market. The report also analyses if the Asia Pacific Mental Health Apps Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.
Asia Pacific Mental Health Apps Market Scope:
Asia Pacific Mental Health Apps Market Scope
Market Size in 2022
USD 0.40 Bn.
Market Size in 2029
USD 1.00 Bn.
by Platform Type
North America- United States, Canada, and Mexico
Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe
Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC
Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa
South America – Brazil, Argentina, Rest of South America
Asia Pacific Mental Health Apps Market Players:
- MoodMission Pty Ltd.
- Recovery Record
Frequently Asked Questions
The Asia Pacific Mental Health Apps Market size was valued at US$ 0.31 billion in 2020 and the Composite Filling revenue is expected to grow at 14% through 2023 to 2029, reaching nearly US$ 1.00 billion.
The need to create unnecessary paperwork and inappropriate revenue cycle management, which results in high treatment costs that require faster responses, are driving the use of mental health apps.
China currently accounts for almost 12% of the worldwide market for mental fitness applications.
It is due to the increasing adoption of connected devices such as smartwatches and smartphones, increased public awareness of mental health concerns, and numerous collaborations by top corporations.
Mood Mission Pty Ltd., Recovery Record, Breathe2relax, Worry Watch, and Add acid
Chapter 1 Scope of the Report
Chapter 2 Research Methodology
2.1. Research Process
2.2. Asia Pacific Mental Health Apps Market: Target Audience
2.3. Asia Pacific Mental Health Apps Market: Primary Research (As per Client Requirement)
2.4. Asia Pacific Mental Health Apps Market: Secondary Research
Chapter 3 Executive Summary
Chapter 4 Competitive Landscape
4.1. Market Share Analysis, By Region, 2022-2029(In %)
184.108.40.206. Asia Pacific Market Share Analysis, By Value, 2022-2029 (In %)
4.2. Market Dynamics
4.2.1. Market Drivers
4.2.2. Market Restraints
4.2.3. Market Opportunities
4.2.4. Market Challenges
4.2.5. PESTLE Analysis
4.2.6. PORTERS Five Force Analysis
4.2.7. Value Chain Analysis
4.3. Asia Pacific Asia Pacific Mental Health Apps Market Segmentation Analysis, 2022-2029 (Value US$ MN)
220.127.116.11. Asia Pacific Market Share Analysis, By Platform Type, 2022-2029 (Value US$ MN)
18.104.22.168. Asia Pacific Market Share Analysis, By Application, 2022-2029 (Value US$ MN)
22.214.171.124.1. Depression and Anxiety Management
126.96.36.199.2. Meditation Management
188.8.131.52.3. Stress Management
184.108.40.206.4. Wellness Management
220.127.116.11. Asia Pacific Market Share Analysis, By Country, 2022-2029 (Value US$ MN)
18.104.22.168.4. South Korea
22.214.171.124.7. Rest Of APAC
Chapter 5 Stellar Competition Matrix
5.1.1. Asia Pacific Stellar Competition Matrix
5.2. Key Players Benchmarking
5.2.1. Key Players Benchmarking By Application, Pricing, Market Share, Investments, Expansion Plans, Physical Presence and Presence in the Market.
5.3. Mergers and Acquisitions in Industry
5.3.1. M&A by Region, Value and Strategic Intent
Chapter 6 Company Profiles
6.1. Key Players
126.96.36.199. Company Overview
188.8.131.52. Source Portfolio
184.108.40.206. Financial Overview
220.127.116.11. Business Strategy
18.104.22.168. Key Developments
6.1.2. MoodMission Pty Ltd.
6.1.3. Recovery Record
6.2. Key Findings