SANTA CLARA, California, Oct. 10, 2018 /PRNewswire/ -- As the 27th World Mental Health Awareness Day approaches today, technology and the preferences of millennial consumers have drastically changed the delivery of mental health treatment. Our recent research highlights some of the most compelling trends in how technologies and mobile apps are helping to diagnose and treat mental illness.
For further information on the future of behavioral health, please visit: http:/frost.ly/2u6
Here are some key findings, along with slides from recent reports:
Between 2015 and 2022, the mHealth market revenue is forecast to nearly double in size to reach $544.5 million. Two factors are driving this growth:
- In the mHealth arena, behavioral health apps lead within the disease-specific apps category, by availability as well as in the provider prescriptions category. These apps also have the second-highest fill rate at 72%—surpassed only by fitness apps.
- The proliferation of wearable technology is driven by the demand for gadgets and apps from the millennial population. And these apps aren't just for the wrist; newer technology that allows the tracking of additional parameters is worn on the neck and torso and is driving market growth.
The Telebehavioral healthcare market revenue is forecast to nearly triple over this same 2015-2022 period, jumping to an anticipated $301.1 million in 2022. The potential for convenient access beyond regular working hours, cheaper consults and improved access in rural/remote areas are making telehealth a preferred mode of receiving care. Future integration of care (with primary healthcare) will enhance this potential, but integration currently remains a major challenge for market growth.
Revenue for the virtual reality (VR) behavioral healthcare market is forecast to more than double in size, growing from $95.9 million in 2015 to $248.1 million by 2022. This growth is fueled in part by the potential of VR as a tool for behavioral health treatment modalities such as exposure therapy and cognitive behavior therapy. VR behavioral healthcare provides advantages of safety, controlled environments and patient convenience that will continue to drive this market, though cost and widespread availability remain a challenge.
A recent Frost & Sullivan report explains how emerging technology around smart homes can play a role in mental illness detection and treatment by monitoring changes in sleep and eating habits, and by diagnosing early signs of depression in as little as a week. This year's World Mental Health Awareness Day focuses specifically on young people, and our analysis illustrates how this technology might work for a teenage resident in a smart home. Additional information about the new Frost & Sullivan research can be found at: http://www.frost.com/k247
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion.
SOURCE Frost & Sullivan