United States Virtual Mental Health Services Market to be dominated by Anxiety Disorders through 2028
Growing need of convenience & accessibility and
initiatives taken by the government to support the employee well-Being are the
major drivers for the United States Virtual Mental Health Services Market.
According to TechSci Research report, “United
States Virtual Mental Health Services Market Industry Size, Share, Trends, Competition, Opportunity and
Forecast, 2018-2028”,
the United States Virtual Mental Health Services Market stood
at USD 1.63 billion in 2022 and is anticipated to register a high CAGR of
around 10.09% during the forecast period. This can be ascribed to
collaborations and partnerships among leading companies with a diverse approach
to merge the expertise of individual companies and to strengthen their position
in the market.
Mental health refers to
a person's emotional, psychological, and social well-being. It encompasses an
individual's thoughts, feelings, behaviors, and ability to cope with life's
challenges, interact with others, and navigate various situations. Mental health
is an integral component of overall well-being and impacts every aspect of a
person's life. Positive mental health
involves experiencing a sense of well-being, having the ability to manage
stress effectively, maintaining fulfilling relationships, and being able to
work productively. Mental health
conditions, also known as mental disorders or psychiatric disorders, can
disrupt an individual's thoughts, emotions, and behaviors.
Examples include
depression, anxiety disorders, schizophrenia, bipolar disorder, and more. Virtual
mental health refers to the provision of mental health services and support
through digital or online platforms. It involves using technology to connect
individuals seeking mental health care with licensed professionals, resources,
interventions, and support networks. Virtual mental health encompasses a wide
range of digital tools and platforms that enable individuals to access mental
health care remotely. Teletherapy involves
online sessions between mental health professionals and individuals seeking
therapy. These sessions are conducted through video conferencing platforms and
provide a way for individuals to receive counseling and treatment from the comfort
of their own spaces.
Browse over XX market data Figures and spread through XX Pages and an in-depth TOC on " United States Virtual Mental Health Services Market”
Mobile applications
designed for mental health offer a variety of features, such as mood tracking,
meditation exercises, relaxation techniques, coping strategies, and even access
to licensed therapists through messaging or video chat.
Digital
Therapeutic are evidence-based digital interventions that offer structured
treatment programs for various mental health conditions. They often use
interactive modules, exercises, and psychoeducation to support individuals in
managing their mental health. Virtual platforms,
forums, and online communities provide spaces for individuals to connect with
others who are experiencing similar challenges.
These communities offer peer
support, information sharing, and a sense of belonging.
Virtual platforms
offer immediate support to individuals in crisis through text-based or chat
services, providing emotional support and resources to manage difficult
situations. Virtual mental health services often provide access
to a wide range of self-help resources, including articles, videos, workbooks,
and toolkits that offer information and strategies for managing mental health
concerns. Some platforms allow for remote monitoring of
individuals' mental health status, providing mental health professionals with
data to inform treatment decisions. Many workplaces offer
virtual mental health services as part of their employee assistance programs,
supporting employee well-being and mental health. Virtual mental health services
often came at a lower cost compared to traditional in-person sessions, making
therapy more affordable and accessible for a broader range of individuals,
which has led to an increased demand in the market. Regulatory changes
during the pandemic, such as relaxed telehealth regulations and increased
insurance coverage for virtual visits, made it easier for mental health
providers to offer their services online.
A growing emphasis on
mental wellness and preventive care prompted more people to seek regular mental
health check-ins and support, even before the onset of serious issues which has
increased the demand of the market. Research and development
(R&D) efforts have indeed contributed to the increased demand for virtual
mental health services in the United States. The integration of technological
advancements, evidence-based practices, and innovative solutions has propelled
the growth of the virtual mental health services market. R&D
efforts have explored and validated new treatment approaches, interventions,
and therapies that can be effectively delivered through virtual platforms,
expanding the range of services available. Ongoing research and
development have led to the creation of user-friendly, secure, and efficient
virtual platforms that facilitate seamless interactions between mental health
professionals and individuals seeking care. The development of
evidence-based digital interventions and therapeutic programs has increased the
credibility and effectiveness of virtual mental health services, attracting
individuals seeking evidence-backed care.
However, Reimbursement
and Insurance Coverage and Therapeutic Alliance and Patient Engagement are expected
to slow down the growth of the market in the coming years.
The United States
Virtual Mental Health Services Market segmentation is based on Component,
Disorder Type, Age Group, End-Use Industry, By Company, and Region.
Some of the major companies
operating in the United
States Virtual Mental Health Services Market include:
- Mantra Health
- Hims & Hers Health, Inc.
- Doximity
- 98point6 Inc.
- Talkiatry
- Talkspace Inc.
- Quartet Health Inc.
- Mindbloom Inc
- Sesame Inc.
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“Certain areas, particularly in the Northeast, are
projected to exert significant demand for virtual mental services in the States.
The growth in the competitive landscape and the presence of well-established
companies in the market, committed to enhancing their mental health productivity
each year, are expected to contribute to a remarkable growth of the United
States Virtual Mental Health Services Market in the forecast period," said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
Global management consulting firm.
United States Virtual
Mental Health Services Market by Component (Software and Services), by Disorder
(Anxiety Disorder, Bipolar Disorders, Eating Disorder, Post-traumatic stress
disorder (PSTD), Substance Abuse Disorder, and Others), by Age Group (Children
& Adolescents, Adult, and Geriatric), End User (Patients, Payers, and
Providers), and by Region and Competition, Forecast & Opportunities,
2018-2028F has evaluated
the future growth potential of United States Virtual Mental Health Services Market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide innovative market intelligence and
help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in United States Virtual Mental Health Services Market.
Contact
Mr. Ken Mathews
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