Artificial Intelligence (AI) in Mental Health Market Share, Size, Trends, Industry Analysis Report, By Component (Software-as-a-Service and Hardware); By Technology; By End User; By Region; Segment Forecast, 2024 - 2032

Artificial Intelligence (AI) in Mental Health Market Share, Size, Trends, Industry Analysis Report, By Component (Software-as-a-Service and Hardware); By Technology; By End User; By Region; Segment Forecast, 2024 - 2032

The global artificial intelligence (AI) in mental health market size is expected to reach USD 10,334.09 million by 2032, according to a new study by Polaris Market Research. The report “Artificial Intelligence (AI) in Mental Health Market Share, Size, Trends, Industry Analysis Report, By Component (Software-as-a-Service and Hardware); By Technology; By End User; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Growing incidences of various mental health disorders such as depression, anxiety, and PTSD (post-traumatic stress disorder) and growing advancements in artificial intelligence, natural language processing, and machine learning enabled the development of advanced or sophisticated algorithms capable of analyzing large amounts of data, are prominent factors driving the global market growth.

• For instance, in February 2024, clinicians from Cedars-Sinai announced that they have developed a new application that brings advantages and capabilities of Apple Vision Pro for supporting patient mental health needs. It offers a self-administrated, AI-enabled, and conversational therapy, helping patients to relax in spatial environments.

As more people than ever across the world are seeking help for several mental health problems, including anxiety and depression, that is creating significant pressure on already-stretched healthcare and therapeutic services. Thus, artificial intelligence-powered technologies could be a possible solution that reduces the dependence or reliance of patients on traditional diagnostic solutions, with AI technologies offering higher accuracy, accessibility, and effectiveness.

Furthermore, several studies are being done by healthcare companies and research institutions to uncover the new potential of AI in mental health. Additionally, governments of various emerging economies have been fairly proactive towards the approach of digital mental health and implementing favorable policies or initiatives for rapid advancements in the field of mental healthcare. For instance, in October 2022, the Indian government announced the launch of a tele-mental health program named “Tele MANAS” as a means of facilitating 24x7 remote access to mental healthcare. Also, Tele MANAS is going to be integrated with eSanjeevani, which is a government initiative for on-time video-based consultations with doctors.

Artificial Intelligence (AI) in Mental Health Market Report Highlights

• Software-as-a-Service segment accounted for a noteworthy share, owing to surging adoption by healthcare professionals due to its accessibility and scalability
• The machine learning segment led the market, which is attributed to its increased usage to help healthcare providers determine the risk of mental disorders
• Hospitals and clinics segment will grow at the highest pace due to the rising patient pool in hospitals and the lack of experienced professionals in hospitals
• North America dominated the market share on account of the increasing prevalence of mental disorders and rising R&D investments focused on AI in healthcare
• The key market players include Cognito Therapeutics, Mental Health AI, Mental Canvas, Calmerry, AiCure, Flow Neuroscience, and Moodpath

Polaris Market Research has segmented the artificial intelligence (AI) in mental health market report based on component, technology, end user, and region:

Artificial Intelligence (AI) in Mental Health, Component Outlook (Revenue - USD Million, 2023 - 2032)

• Software-as-a-Service
• Hardware

Artificial Intelligence (AI) in Mental Health, Technology Outlook (Revenue - USD Million, 2023 - 2032)

• Natural Language Processing
• Context-Aware Computing
• Computer Vision
• Machine Learning

Artificial Intelligence (AI) in Mental Health, End User Outlook (Revenue - USD Million, 2023 - 2032)

• Hospitals and Clinics
• Mental Health Centers
• Research Institutions
• Others

Artificial Intelligence (AI) in Mental Health, Regional Outlook (Revenue - USD Million, 2023 - 2032)

• North America

- U.S.

- Canada

• Europe

- Germany

- UK

- France

- Italy

- Spain

- Russia

- Netherlands

• Asia Pacific

- China

- India

- Japan

- South Korea

- Indonesia

- Malaysia

• Latin America

- Argentina

- Brazil

- Mexico

• Middle East & Africa

- UAE

- Saudi Arabia

- Israel

- South Africa