PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1385340
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1385340
Digital Psychotherapeutics Market size is poised to register 29.4% CAGR from 2023-2032, on account of the rising implementation of mental health and well-being programs. The growing importance of employee assistance programs (EAPs) and workplace wellness initiatives is witnessing the higher incorporation of digital psychotherapeutics. To illustrate, in April 2022, Canada's premier virtual care and wellness brand Dialogue introduced Mental Health+, its new iCBT (internet-based cognitive behavioural therapy) program for responding to the evolving mental health challenges in organizations. The greater emphasis laid by companies on user experience and designs for creating more engaging and user-friendly digital psychotherapeutic platforms to enhance user engagement and adherence to treatment will boost the market growth.
The overall digital psychotherapeutics industry is segmented based on solution, application, indication, business model, and region.
In terms of solution, the market size from the monotherapy segment may record 27.6% CAGR from 2023-2032 driven by the surging adoption of several digital tools and interventions as standalone treatments to treat mental health conditions. The increasing usage of apps providing guided meditation sessions, breathing exercises, and relaxation techniques focusing on mindfulness and meditation to cater to stress reduction and anxiety will also drive the market growth.
On the basis of indication, the digital psychotherapeutics market value from the psychotic disorders segment is expected to observe 30.8% CAGR through 2032. The growth can be attributed to the rising need for digital platforms to provide psychoeducation, coping strategies, and rendering support for individuals experiencing psychotic symptoms. The increasing developments in mobile applications and online platforms deployed with mood tracking and symptom monitoring to provide care to affected individuals will boost the segment expansion.
Regionally, Asia Pacific digital psychotherapeutics industry size is projected to record 31% CAGR through 2032. The growing awareness of mental health issues in the region is leading to the development of mobile applications and online platforms to render mental health support through therapy sessions, mood tracking, and meditation exercises. The surging government support and the rise in the number of corporate wellness programs will also add to the regional market growth.