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AI in Mental Health: Global Market Outlook

AI in Mental Health: Global Market Outlook

  • November 2022
  • 50 pages
  • ID: 6362935
  • Format: PDF
  • BCC Research

Summary

Table of Contents

Report Scope:
In this report, the market has been segmented based on offering, technology, and geography.The report provides an overview of the global AI in mental health market and analyzes market trends.

Using 2021 as the base year, the report provides estimated market data for the forecast period, 2022-2027.Revenue forecasts for this period are segmented based on organization size, component, provider, type, industry, and geography.

Market values have been estimated based on the total revenue of AI in mental health application providers.

The report covers the market for AI in mental health with regard to the user base, across different regions.It also highlights major trends and challenges that affect the market and the vendor landscape.

The report estimates the global market for AI in mental health in 2021 and provides projections for the expected market size through 2027.

The scope of the study includes AI in mental healthcare platforms and associated services, and services associated with the platform.

Report Includes:
- 12 data tables and 16 additional tables
- A brief general outlook of the global market for AI in mental health prediction, detection and treatment solutions
- Analyses of the global market trends, with market revenue data for 2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027
- Estimation of the actual market size and revenue forecast for AI in mental health market, and the corresponding market share analysis offering, technology, disorder type, and geographic region
- Updated information on market drivers and opportunities for AI in enhancing mental health care, key shifts and trends, regulations and industry specific challenges, and other demographic factors that will shape this market demand in the coming years (2022-2027)
- Discussion of the industry value chain analysis for AI in mental health market providing a systematic study of key intermediaries involved, with emphasis on solutions and service providers across geographies
- Patent activity and review of patent grants for AI in mental health by each major category
- Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
- Company profiles of major players within the industry, including Ginger, Lyra Healthcare Inc., Quartet and Woebot Health

Summary:
The rise of digital approaches to mental health has led to the development of predictions, detections, and treatment solutions based on artificial intelligence (AI) and machine learning (ML).Digital interventions, especially web and smartphone apps, are incorporating AI to enhance mental health care and optimize the user experience.

A modern data stream enables the development of mental health prediction and detection models based on data-driven AI methods.

Despite the surge in depression and anxiety triggered by the pandemic, the suicide problem has not improved.Based on trained data sets, AI algorithms identify people’s behavior and mental activities and assist in suicide prevention.

Suicide is prevented by detecting patterns and acting quickly to avoid negative consequences.With the adoption of AI, specialists can understand victims’ mental health and address the problem earlier.

In this way, it helps in reducing the number of suicides worldwide. In the field of mental healthcare, AI has been utilized. Currently, AI is being used both in clinician- and customer-marketed apps, but there are many issues with its current implementation, including efficacy,
privacy, and security.

The global market for AI in mental health was estimated to be $REDACTED million in 2021.It is projected the market will grow at a CAGR of REDACTED% and is forecast to reach $REDACTED billion by 2027.

Social media and internet browsing have reduced face-to-face communication and increased loneliness because of prolonged internet use. The use of AI based mental health apps has increased due to the rise in mental disorders caused by chronic diseases like diabetes and cardiovascular disease.

In addition, poor work-life balance, poor eating habits, social isolation, hectic schedules, and relationship issues are all contributing factors to the rise of mental illness across the globe, particularly in developed and emerging countries. The creation of advanced and updated applications, as well as increased awareness among people in developing economies, are anticipated to provide prospects over the forecast period.

In this report, the global market AI in mental health has been segmented based on offering, technology, disorder type, and geography.Based on offering, the AI in mental health market has been categorized into solutions and services.

Based on technology, the AI in mental health market has been segmented into ML, natural language processing, and others.

By geography, the AI in mental health market has been segmented into North America, Europe, Asia- Pacific, and RoW.The North America region is currently the most dominant market for the global AI in mental health market.

Smartphone adoption, network advancements, and internet and social media penetration drive the market. Increasing awareness about mental health in recent years, addiction to different substances, and less social interaction have contributed to APAC’s growth.

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