Depression Apps Market Set to Register a CAGR of 15.7% and Reach US$ 6.83 Billion by 2031 | Growth Plus Reports

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Newark, New Castle, USA, May 01, 2023 (GLOBE NEWSWIRE) — In accordance with the most recent analysis by Growth Plus Reports, the global market for depression apps was estimated to be worth US$ 1.84 billion in 2022 and is expected to expand at a revenue CAGR of 15.7% to reach US$ 6.83 billion by 2031.

The global market for depression apps was analyzed, and it is expected to rise significantly during the forecast period. Mobile applications for managing depression symptoms are known as depression apps. A variety of functions, including mood tracking, CBT exercises, meditation and relaxation methods, social support groups, and self-help modules, may be included in these applications.

Key Takeaways: 

• The rising prevalence of depression due to many external factors and lifestyle changes is driving the market revenue share.
• The increase in the usage of mobile phones and social media has contributed to awareness among the population.
• Advancements in artificial intelligence are helping people to track their mood changes depending on their search engine.

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                                            Depression Apps Market Scope

Recent Development in the Global Depression Apps Market: 

• In January 2022, The Woebot mental health app successfully complied with the new Digital Health Assessment Framework (DHAF) standards in the US. The Organization for the Review of Care and Health Applications (ORCHA) created the DHAF to set high standards for the security, privacy, and efficacy of digital health technology.

Competitive Landscape

Following is a list of the top market players operating in the global market for depression apps: 

• Happify, Inc.
• Talkspace
• Sanvello Health Inc.
• Woebot Health
• MoodFit (Roble Ridge Software LLC)
• Calm

Market Drivers and Restraints: 

The driving factor for the depression apps market revenue is the rising prevalence of depression, population awareness, affordable mental care, and wide accessibility. Furthermore, the widespread use of smartphones contributes to market revenue growth. 

However, some regulatory concerns regarding its safety and effectiveness are expected to restrain market revenue growth. 

Market Segmentation: 

Segmentation By Platform Type

Based on platform type, the global depression apps market is segmented into iOS, Android, and others. Due to the ease of use, security, stability, and high-quality depression apps, the iOS platform segment accounts for the largest market revenue share. 

Segmentation By Therapy

Based on the therapy, the global depression apps market is segmented into cognitive-behavioral therapy, meditation therapy, behavioral therapy, and others. The cognitive-behavioral therapy segment accounts for the largest revenue share, recognizing negative thinking patterns and actions. These applications frequently feature interactive exercises, self-help courses, and mood-tracking tools.

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Regional Growth Dynamics

Based on the region, the global depression apps market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Due to the spread of social media and the internet, the growing usage of smartphones, improvements in coverage networks, and North America accounts for the largest revenue share in the global market.

Report Coverage 

Growth Plus Reports studied the global market for depression apps in-depth. Basic market features, important investment sectors, analyses of regional growth, revenue projections, rival market participants, and mergers and acquisitions were all examined.

Table of Content

1. INTRODUCTION
   1. Market Ecosystem
   2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
   3. Currency Used in the Report
2. RESEARCH METHODOLOGY 
   1. Research Approach
   2. Data Collection Methodology
   3. Data Sources
      1. Secondary Sources 
      2. Primary Sources
   4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions
3. PREMIUM INSIGHTS
   1. Current Market Trends (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2022) 
4. MARKET DYNAMICS
   1. Drivers
   2. Restraints/Challenges
   3. Opportunities
5. GLOBAL DEPRESSION APPS MARKET- ANALYSIS & FORECAST, BY PLATFORM TYPE
   1. iOS
   2. Android
   3. Others
6. GLOBAL DEPRESSION APPS MARKET- ANALYSIS & FORECAST, BY THERAPY
   1. Cognitive-Behavioral Therapy (CBT)
   2. Meditation Therapy
   3. Behavioral Therapy
   4. Others

DEPRESSION APPS MARKET TOC

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VALUE PROPOSITIONS RELATED TO THE REPORT:

• Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
• Comprehensive quantitative and qualitative insights at segment and sub-segment level
• Covid 19 impact trends and perspective
• Granular insights at global/regional/country level
• Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
• Blanket coverage on competitive landscape
• Winning imperatives
• Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market

CUSTOMIZATION OPTIONS:

• Distributor Landscape Assessment
• Pricing Intelligence
• Customer Base Assessment
• Investment & Initiatives Analysis
• ‘Business Profile’ of Key Players

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