Digital Brain Health Market

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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Industry: Healthcare IT

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The global digital brain health market received a valuation worth 184.7 billion US dollars in 2021 and is expected to witness much more growth in the coming years.

Market Overview

The digital brain health market has unexpectedly grown as people place more importance on mental health. Mobile-based applications such as Headspace have become a convenient option for people looking to practice mindfulness and experience anxiety relief on the go.

The search for mental health became more creative as the pandemic pushed people toward the lockdown. This encouraged the development of many mental health applications that have survived up to the post-pandemic era.

Digital mental health applications are primarily used to improve an individual’s mental health. This includes their cognitive abilities, social and emotional functioning, and multiple other brain areas to prevent diseases such as Alzheimer’s, dementia, Parkinson’s, and more. Applications for digital mental health commonly allow individuals to manage anxiety associated with mental health, understand symptoms, and even receive behavioral therapy.

The global market for digital brain health has been projected to grow at a 7.3% CAGR and reach 382.9 billion by 2031. This can be attributed to the recent reliance on mental health management software by hospitals, human resource professionals, and NGOs. The development of technology for diagnosing and treating mental health has also boosted the growth of the digital brain health market.

Key Findings

  • The market for digital brain health experienced a 184.7 billion US dollars valuation in 2021 and is expected to grow to 382.9 billion US dollars by 2031. This is linked to recent technological advancement and an increase in mental health awareness driving market growth.
  • The recent increase in technological dependency at a large scale has pushed users onto their gadgets and encouraged producers to introduce mental health applications to phones. The rising mental health concerns have also acted as a catalyst.
  • The future of digital brain health is driven by the ability to personalize applications and more technological advancements that provide unique therapeutic opportunities to patients. Moreover, rising awareness has also boosted the market.
  • However, these applications may not be accessible and affordable to all consumers worldwide.
  • North American markets take the lead in the digital brain health market, with Europe a close second. As companies rise to meet demand, they introduce more advancements that provide creative mental health solutions. Yet more work is required to make the product accessible to everyone.

Market Drivers

The Increase in Technological Dependency

The popularity of technology is increasing at a large scale, and the interest in digital brain health is just a consequence. The increased usage of gadgets is a reality that has to be recognized sooner or later. Not just adults but also toddlers are experiencing an increased reliance on gadgets.

The usage of these gadgets might eventually lead to negative effects. This isn’t just restricted to technology addiction but also to certain diseases associated with a sedentary lifestyle. These diseases include mental health concerns such as ADHD and anxiety.

Mental health professionals have used research and trials to show the negative effects of excessive technological exposure to the brain. Today, more people are facing cognitive impairments, Alzheimer’s, ADHD, dyslexia, and other impairments.

However, instead of suggesting individuals move away from technology altogether, researchers are beginning to offer helpful applications that can assist them in rebuilding cognition and promoting brain health. This has added to the popularity of digital brain health.

The Rise in Mental Health Concerns

The pandemic may have increased mental health concerns worldwide. However, mental illnesses were already on the rise before 2019. During the pandemic and its aftermath, people began to place great importance on mental health.

This included the effects of the lockdown and the deterioration of mental health triggered by loneliness and lack of stimulation. As people begin to notice the positive effects of human interaction, they have started to use their devices for more positive stimulation and moved to social interaction more than ever before.

Market Opportunities

Personalizing the Journey to Mental Health

Many applications today have allowed people to personalize their mental health journeys. Digital applications that help people add avatars or introduce a unique quest based on their journey are much more preferred. This is because people feel the need to relate to these applications.

This has also resulted from the technological revolution, the introduction of virtual reality, improvement in graphics, and subsequent creativity in the digital market. The more advanced the tools, the better the digital brain health applications.

Awareness, Importance, and Acceptance

Mental health might have been taboo in the past, but conversing about mental illnesses is becoming more and more normal. People are beginning to self-educate, give it the importance it deserves, and accept it with open arms.

This awareness is also encouraging more consumers to recognize their unique needs. Consumers today are able to voice exactly what they need. This demand has led to unique digital brain health applications flooding the market, including journaling applications, digital brain health games, anxiety relief apps, and more.

Market Challenges

Not All Resources Are Accessible

Since digital brain health has only recently gained popularity, not all applications are free. The free ones also come with in-app purchases might not be a great choice for everyone. This adds a barrier between these services and consumers, who can gain an advantage through brain health exercises.

Moreover, digital brain health requires consumers to always have high-speed internet on them. Getting disconnected means letting go of their safe space for a while. This also means that areas with poor internet connectivity (or none) can’t take advantage of these applications.

Barriers to Understand Still Exist

We might have established that the world is experiencing increased awareness of mental health. However, that increase is relative to the past, and some areas of the world might not benefit from these brain health tools because they don’t recognize signs of mental illnesses.

It is essential to develop affordable and simplistic tools for regions that have limited access to information regarding mental illnesses so that we can bridge the gap.

Regional Coverage

North America has dominated the market for digital brain health. This can be attributed to a newfound awareness of the massive scale of mental illnesses. The market has also experienced much more research, allowing it to develop more applications and tools for the average consumer.

Europe, specifically Germany, UK, and France, are a close second. These countries have contributed to the research in brain health disorders and are fighting to take the first place. Their recent focus on diagnosing, understanding, and treating mental health concerns has taken them to the top.

Company Recent Development

  • Linus Health
  • Medibio
  • Core Solutions, Inc.
  • IBM
  • The Echo Group
  • Cerner Corporation
  • Netsmart Technologies
  • Others

The digital brain health market has been driven by multiple partnerships, merging research efforts to develop highly efficient brain health applications and devices. One such alliance is the partnership of Akili with Shionogi in the development of a digital therapeutic for depression.

2021 witnessed Headspace acquiring Alpine AI for further efforts in the digital mental health space and Limbix investing in VR for anxiety and depression.

For years, companies have invested in various therapies and tools to benefit people suffering from mental health concerns. The new age has led to more advancements, especially in technology, that can aid people with mental health concerns and allow them to invest in their brain health. However, more research is required to make these products affordable and widely accessible.

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