Mental Health Screening Market Size, Share & Trends Analysis Report By Component (Hardware, Software), By Application (Cognitive, Behavioral), By Demography, By Solution Type, By Region, And Segment Forecasts, 2024 - 2030

Mental Health Screening Market Size, Share & Trends Analysis Report By Component (Hardware, Software), By Application (Cognitive, Behavioral), By Demography, By Solution Type, By Region, And Segment Forecasts, 2024 - 2030

Mental Health Screening Market Growth & Trends

The global mental health screening market size is expected to reach USD 4.17 billion by 2030 and is projected to grow at a CAGR of 10.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rising prevalence of mental health disorders is increasing globally, thereby fostering market growth. According to the Household Pulse Survey conducted by the U.S. Census Bureau, 32.3% of adults reported symptoms of anxiety and depression in 2023. Similarly, as per the survey conducted as part of the Gallup Panel, in 2023, 29.0% of Americans reported having been diagnosed with depression once in a lifetime, while 17.8% reported being diagnosed/or being treated with depression currently. Various factors such as stress, lifestyle changes, and societal pressures are increasing the cases of mental health disorders, thus supplementing market growth.

Increasing awareness among the population about mental health issues coupled with the growing government initiatives is fostering market growth. Furthermore, increasing government and non-government investment for the advancement of mental health screening will escalate market growth. For instance, in March of 2023, Aiberry, a leading innovator in the field of AI-driven mental health screening, announced the successful procurement of USD 8 million in seed funding. Confluence Capital Group, Inc. (CCG) was the primary contributor to the funding round, with the VC fund Ascension AI also participating. The company intended to use the funding to speed up the adoption of its platform, which utilizes an AI-powered mental health assistant to recognize mental health disorders by examining speech patterns, subtle facial expressions, and the content of speech.

Increasing cases and awareness of postpartum depression is another factor driving the demand for mental health screening. For instance, as per the 'Saving Lives Improving Mothers' Care 2023' report, suicide remains the top cause of direct maternal deaths between 6 weeks and 12 months after birth. It accounted for a shocking 39% of deaths between 2019 and 2021.According to the 2023 Mother's EveryDay Survey conducted by MetroPlusHealth, a significant 70% of women wanted to know more about postpartum mental health before giving birth. Such increasing awareness about the benefits of mental health treatment is anticipated to boost market growth.

The widespread adoption of social media provides an excellent opportunity to increase the use of mental health screening tools and solutions. For instance, according to the Kepios report, at the beginning of April 2024, there were 5.07 billion social media users worldwide, accounting for 62.6% of the global population. Moreover, increasing acceptance of mental health illness will further drive market growth. For instance, in 2022, the Mental Health America (MHA) Online Screening Program was used by over 6.3 million people worldwide to take a mental health screening. This is a significant increase from previous years, with a 138% increase from 2020 and a 19% increase from 2021.

The key market players operating in the market use different strategies, such as product launches, collaborations, and mergers, to gain a competitive edge. For instance, in June 2023, Apple recently introduced new health features in their latest software updates for iPadOS 17, watchOS 10, and iOS 17. These updates focus on two important areas: providing users with innovative experiences and tools across all platforms. New features have been added to address mental health concerns, allowing users to keep track of their momentary emotions and daily moods. They can also gain valuable insights and access assessments and resources with ease.

Mental Health Screening Market Report Highlights

• Based on demography, the adults (age 19-64) segment held the largest revenue share in the market in 2023, owing to the increasing awareness and acceptance of mental illness among this age group.
• Based on application, the physiological disorders segment held the largest revenue share in the market in 2023, owing to the growing prevalence of anxiety across the globe.
• Based on solution type, the online platforms segment accounted for the largest revenue share. This can be attributed to patients' increasing preference for online platforms.
• Based on component, the software segment accounted for the largest revenue share. The software allows for the customization and personalization of mental health screening tools based on individual needs and preferences, thereby fostering market growth.
• The North America region dominated the global market due to the increasing prevalence of mental health conditions and the presence of key market players.

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