The global AI in mental health market size was valued at USD 915 million in 2022 and is likely to reach USD 12678.2 million by 2031, expanding at a CAGR of 37.5% during 2023 – 2031. The growth of the market is attributed to the rising prevalence of mental health disorders and related challenges, such as stress, anxiety, and depression.
Growing awareness and acceptance of mental health issues across the world is increasing the demand for mental health treatment. This is leading to the higher adoption of advanced AI-based mental health solutions across the healthcare sector. Patients are exploring digital mental health resources, including AI-powered platforms, to seek medical help from professionals. Such expanding use of advanced technology for efficiently dealing with psychological disorders, coupled with a growing number of individuals seeking professional help is propelling the market.
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According to the report published by World Health Organization (WHO) on June 8, 2022, in 2019, approximately 1 in 8 people, i.e. 970 million individuals around the globe, were suffering from mental illness. The prevalence of anxiety and depressive disorders grew sharply in 2020, due to the emergence of COVID-19. These factors increased the need for remote psychological care solutions powered by AI technology.
AI in mental health is used to understand, assess, and treat various mental health conditions. These technologies include machine learning algorithms and natural language processing, which help to analyze large amounts of data. Artificial intelligence algorithms identify patterns and signs of potential mental health issues by analyzing data, allowing for timely intervention and treatment. Furthermore, this advanced technology improves various aspects of mental healthcare from early detection to streamlining administrative tasks, which boosts implementation of AI-driven technology in the mental healthcare sector, thereby, further contributing to the growth of the market.
The research report finds that the COVID-19 pandemic propelled the AI in mental health market. The pandemic has led to increased mental health issues, as people spent significant time in social isolation, due to lockdowns and social distancing measures. This massive surge in anxiety and depression complaints fueled the demand for digital mental health solutions, including AI-based platforms. Moreover, the pandemic further accelerated the adoption of artificial intelligence in mental health establishments to improve the accessibility and scalability of remote care and support. For instance,
AI in Mental Health Market Dynamics
Major Drivers
Rising number of suicide cases worldwide is expected to drive the market. Artificial intelligence technologies, such as AI-powered chatbots and virtual assistants are becoming a valuable tool in mental healthcare. These AI systems are offering immediate assistance and support to individuals experiencing distress or contemplating self-harm. Furthermore, increasing focus on collaboration between humans and AI robots to develop personalized mental health services drives the market.
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According to the report published by WHO on June 21, 2021, more than 700,000 individuals die by suicide every year. Among the 15-29-year-old global population, suicide is the fourth leading cause of death. The report further states that around 77% of suicides occur in low- and middle-class-income populations.
Existing Restraints
Accuracy and reliability concerns related to AI-based mental health solutions are expected to hinder the market. Although promising results shown by this technology in mental health applications, there is still a need to ensure the accuracy and reliability of these solutions. Misinterpretation of data or incomplete understanding of human emotions and behaviors impacts the effectiveness of AI-driven systems and further decreases their demand in the market.
Emerging Opportunities
Advancement in artificial intelligence-powered chatbots and virtual assistance is likely to create favorable opportunities for the players competing in the market. The AI-based technology offers resources and support to patients suffering from mental illness. Moreover, the utilization of AI in remote mental health care is anticipated to further support healthcare organizations to expand their market share.
Scope of the AI in Mental Health Market Report
The report on the market includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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AI in Mental Health Market- Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Component (Software-as-a-Service and Hardware), Technology (Natural Language Processing, Machine Learning & Deep Learning, and Others), and Application (Conversational Interfaces and Patient Behavioral Pattern Recognition)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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OM1; Cognoa; Lyra Health, Inc; Marigold Health; New Life Solution, Inc; Mindstrong; BioBeat; New Life solution; Talkspace; Woebot Health; and Wysa Ltd
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Market Segment Insights
Component Analysis
Based on component, the AI in mental health market is divided into software-as-a-service (SaaS) and hardware. The software-as-a-service segment is expected to hold a major market revenue share during the forecast period, as SaaS platforms offer scalability and flexibility, which allows mental health providers to adjust their usage based on demand. This scalability is valuable in the context of providing mental health treatments and solutions where service needs fluctuate during times of crisis. Moreover, the accessibility of SaaS solutions, makes it easier for organizations to integrate AI technologies on their platforms, which further fuels the demand for this solution in the market.
The hardware segment is anticipated to register robust growth in the market in the coming years, owing to the ongoing advancement in artificial intelligence in mental healthcare technology. This development requires reliable hardware components to run algorithms smoothly and quickly while ensuring accurate results on time. Furthermore, the integration of AI-based hardware components into telehealth and remote mental health services further boosts the market.
Technology Analysis
On the basis of technology, the market is classified as natural language processing, machine learning & deep learning, and others. The machine learning & deep learning segment is expected to grow at a significant CAGR in the market in the coming years, owing to their unique capabilities in analyzing and understanding complex mental health data. These technologies' ability to recognize patterns from data makes them useful tools for planning personalized treatments and recommendations. Furthermore, technological advances in ML and deep learning to improve their accuracy to derive precise outcomes contribute to the growth of this segment in the market.
Application Analysis
Based on application, the market is bifurcated into conversational interfaces and patient behavioral pattern recognition. The conversational interfaces segment is estimated to hold a key market share during the projected period, due to their increasing demand for accessible and confidential mental health services. Conversational interfaces offer a non-judgmental and convenient way to seek help for mental health concerns without the fear of stigma. These virtual helpers are available 24/7, making them accessible anytime and anywhere. The COVID-19 pandemic accelerated the adoption of remote conversational interfaces by mental health services providers, which propelled the segment in the market.
The patient behavioral pattern recognition segment is projected to register a considerable CAGR in the market, owing to its ability to detect early signs of mental health disorders and predict potential risks. The early detection of disorders from artificial intelligence-powered behavioral pattern recognition helps to provide timely support and treatments for patients. Moreover, this data-driven approach to mental healthcare assessments is more accurate than traditional diagnostic methods, which further boosts this segment in the market.
Regional Outlook
In terms of region, the global AI in mental health market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the forecast period, due to the well-established healthcare infrastructure, availability of high-quality professional assistance, and a strong focus on mental health awareness and treatment. Furthermore, the high prevalence of mental health disorders propels the demand for innovative and accessible AI-powered mental health services in the market.
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According to the report published by the Centers for Diseases Control and Prevention on April 25, 2023, around 1 in 5 American adults are living with some kind of mental disease. Additionally, approximately 1 in 25 adults in the United States live with a severe mental illness, including bipolar disorder, schizophrenia, or major depression. Moreover, more than 1 in 5 teenagers aged 13-18 had a significantly debilitating mental illness at some point in their life.
Asia Pacific is anticipated to expand at a rapid pace in the global market in the coming years, due to the growing investments in artificial intelligence-based startups. These startups are developing innovative AI solutions for various mental health care, contributing to the market's expansion. Moreover, the presence of a large and diverse population facing mental health challenges further propels the demand for AI-based mental health technologies in this region.
- According to the National Library of Medicine, mental illness is a major contributor to health and socioeconomic issues in the Asia Pacific. It accounts for over 20% of total years lived with disability (YLDs) and 9.3% of disability-adjusted life years (DALYs) on average.
Segments
The global AI in mental health market has been segmented on the basis of
Component
- Software-as-a-Service
- Hardware
Technology
- Natural Language Processing
- Machine Learning & Deep Learning
- Others
Application
- Conversational Interfaces
- Patient Behavioral Pattern Recognition
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- OM1
- Cognoa
- Lyra Health, Inc
- Marigold Health
- New Life Solution, Inc
- Mindstrong
- BioBeat
- New Life solution
- Talkspace
- Woebot Health
- Wysa Ltd
Competitive Landscape
Key players competing in the global AI in mental health market are OM1; Cognoa; Lyra Health, Inc; Marigold Health; New Life Solution, Inc; Mindstrong; BioBeat; New Life solution; Talkspace; Woebot Health; and Wysa Ltd
These companies are expanding their market share by implanting various strategies such as partnerships, acquisitions, mergers, launching new software products, and implementing advanced AI technologies.
- On May 24, 2023, OM1, a healthcare technology company, launched AI tools, Comparative Outcomes and Prescriber Trends. These two types of real-world analytics tools provide standardized and easily accessible analysis of treatment trends and outcomes in the fields of immunology and mental health conditions. Additionally, by utilizing this company's data cloud, which is built on billions of data points from over 300 million patients along with artificial intelligence and modeling capabilities, users could gain comprehensive insights to improve their therapeutic landscapes.
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