Mental Health Screening Industry Set for $1.8 Billion Valuation by 2029

Mental Health Screening Market

The Mental Health Screening market is projected to reach USD 1.8 billion by 2029 from USD 0.9 billion in 2023, at a CAGR 12.2% during the forecast period 2023-2029. The growth in this market is fuelled by the technological advancements, and the increasing focus on remote monitoring. Furthermore, the integration with wearable technologies and the rise of social media and its impact on the adoption of mental health screening tools, is anticipated to offer lucrative growth opportunities for market players in Mental Health Screening throughout the forecast period 2024-2029.

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Based on application, the Mental Health Screening market is segmented into physiological, psychiatric, behavioural and cognitive disorders. Physiological disorders are further segmented into depression, anxiety, post-traumatic stress disorder (PTSD), bipolar disorder, eating disorder, substance abuse, and other physiological disorders. Among these sub-segments, substance abuse accounted for the largest share of the Mental Health Screening market in 2023 attributing to the global increase in substance abuse cases, fueled by factors such as stress, trauma, and societal pressures. Growing recognition of the interconnection between mental health and substance abuse play a pivotal role in addressing these challenges by encouraging healthcare providers to adopt integrated screening protocols.

Based on technology, the Mental Health Screening market is segmented into self-screening mHealth apps, telehealth & virtual care solutions, continuous monitoring wearable devices, AI-based screening tools, and remote mental health platforms. In 2022, the continuous monitoring wearable devices segment accounted for the largest share attributing to the advancements in wearable sensor technologies and the rising demand for real-time data insights.

Based on age group, the Mental Health Screening market is segmented into children & adolescents (age 0–18 years), adults (age 19–64 years), and seniors (age 65 and above). The adults (age 19-64 years) segment accounted for the largest share of the Mental Health Screening market. The rising workloads, economic pressures, and competitive environments contributing to stress and anxiety amplifies the demand for increasing mental health screening solutions among this age group.

The Mental Health Screening market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2022, Asia Pacific was the fastest growing segment in Mental Health Screening market attributed to the growing incidence of mental disorders, rising government initiatives for increasing awareness about mental disorders. Moreover, there is a heightened demand for the improved accessibility of mental health services due to increasing patient burden in this region.

Prominent players in Mental health screening market include Proem Behavioral Health (US), SonderMind Inc. (US), Riverside Community Care (US), Headspace Health (US), Quartet Health, Inc. (US), Canary Speech, Inc. (US), Sonde Health, Inc. (US), Koninklijke Philips N.V. (Netherlands), Alphabet Inc. (Fitbit) (US), ResMed (US), Apple Inc. (US), Wellin5 USA Inc. (Canada), Clarigent Health (US), Woebot Labs Inc. (US), Aiberry (US), Cognitive Health Solutions, LLC (US), Adaptive Testing Technologies (US), Thymia Limited (UK), Modern Life, Inc. (US), MoodFit (US), MoodTools (US), Kintsugi Mindful Wellness, Inc. (US), Ellipsis Health Inc. (US), FuturesTHRIVE (US), and CogniABle (India).

Recent Development of Mental Health Screening Industry:

In November 2023, SonderMind (US) acquired Total Brain (US) to expand its reach, offering individualized mental wellness, supporting therapists with enhanced care techniques, providing population mental health tools for enterprises, and delivering comprehensive solutions to health plans.

In October 2023, Ellipsis Health, Inc. (US) partnered with Augmedix (US) to introduce automated mental health screenings during patient visits.

In December 2021, Quartet Health, Inc. (US) successfully acquired InnovaTel Telepsychiatry (US), turning its vision of rapidly delivering high-quality mental healthcare for everyone into a reality.