Global Mental Health Technology Market Size By Functionality, By End User, By Geographic Scope And Forecast

Report Highlights

Mental Health Technology Market Insights

Mental Health Technology Market is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly within the forecasted period i.e. 2021 to 2028.

The Mental Health Technology Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics involve the drivers, restraints, opportunities, and challenges through which the impact of these factors in the market are outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Mental Health Technology Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.

Global Mental Health Technology Market Overview

The increasing adoption of BHS is that the key driver of the market. High healthcare costs for the treatment of behavioral health-related problems or mental illnesses form a key concern for governments. The worldwide cost of the treatment of mental illnesses was ~USD 2.5 trillion (of which two-thirds are indirect costs) in 2010, this is often slated to succeed in USD 6 trillion by 2030 (Source: WHO). In 2013, the US spent an estimated USD 201 billion on mental disorders like anxiety and depression (Source: Health Affairs).

This report provides an all-inclusive environment for the analysis of the Mental Health Technology Market. The market estimates provided in the report are the result of in-depth secondary research, primary interviews, and in-house expert reviews. These market estimates have been considered by studying the impact of various social, political, and economic factors along with the current market dynamics affecting the Mental Health Technology Market growth.

Along with the market overview, which comprises the market dynamics the chapter includes Porter’s Five Forces analysis which explains the five forces: namely buyers’ bargaining power, suppliers’ bargaining power, the threat of new entrants, the threat of substitutes, and degree of competition in the Mental Health Technology Market. It explains the various participants, such as system integrators, intermediaries, and end-users within the ecosystem of the market. The report also focuses on the competitive landscape of the Mental Health Technology Market.