Mental Health Screening Market Worth $1.8 billion | MarketsandMarkets™.

CHICAGO, March 6, 2024 /PRNewswire/ -- Mental Health Screening Market in terms of revenue was estimated to be worth $0.9 billion in 2023 and is poised to reach $1.8 billion by 2029, growing at a CAGR of 12.2% from 2023 to 2029 according to a new report by MarketsandMarkets™. The growth in the Mental Health Screening market is driven by the growing geriatric population and subsequent increase in the prevalence of mental disorders, rising awareness of mental health issues, technological advancements, and the increasing focus on remote monitoring. The adoption of mental health screening tools is also expected to increase with the integration with wearable technologies and the rise of social media. But the stigma and limited awareness and data privacy concerns may pose a challenge to the Mental Health Screening market during the forecast period.

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Mental Health Screening Market Scope:

Cognitive Disorders is the fastest growing in the Mental Health Screening market in 2023.

Based on applications, the mental health screening market is segmented into physiological, psychiatric, behavioral, and cognitive disorders. Physiological disorders are further segmented into depression, anxiety, post-traumatic stress disorder (PTSD), bipolar disorder, eating disorder, substance abuse, and other physiological disorders. Psychiatric disorders are further segmented into schizophrenia, psychotic disorder, dissociative disorder, obsessive compulsive disorder, dissociative disorder, attention deficit hyperactivity disorder (ADHD), and other psychiatric disorders. Behavioral disorders are again segmented into self-harm, aggression, sleep disorder, social withdrawal, dissociative disorder, hyperactivity, and other behavioral disorders. Cognitive disorders are segmented into cognitive impairment, dementia, Alzheimer's disease, and other cognitive disorders.

The cognitive disorders is the fastest growing in Mental Health Screening market in 2022 attributing to the rising geriatric population, increasing incidence of neurodegenerative diseases, growing awareness, and improved access to screening tools. These disorders can significantly impact an individual's ability to perform daily activities and maintain independence. It often affects older adults, but it can also occur in younger individuals due to factors like traumatic brain injury, genetic predispositions, or neurological conditions.

Self-reported questionnaires & surveys are the largest screening methods of the Mental Health Screening market in 2022.

Based on screening methods, the global mental health screening market is segmented into self-reported questionnaires & surveys, clinical interviews, observation-based assessments, and biomarker testing. The self-reported questionnaires & surveys segment dominated the mental health screening market in 2022 attributing to the easy availability of a wide variety of questionnaires at affordable prices over digital platforms and availability of self-reported questionnaires & surveys in multilingual formats. Moreover, the ongoing advancements in questionnaire designs are key factors propelling the global adoption of self-reported questionnaire-based assessments in mental health screening

By setting, online platforms is the fastest growing in the Mental Health Screening market in 2022.

Based on setting, the Mental Health Screening market is segmented into clinical settings, educational institutions, workplace/corporate programs, online platforms, and other settings. The online platforms segment is expected to register the highest growth rate in the forecast period attributing to the easily accessible and personalized assessments to the patients. Moreover, online platforms use a combination of screening methods to provide users with comprehensive, accessible, and personalized assessments of their mental health status and needs. Thus, promoting mental health awareness, early intervention, and access to support services for individuals seeking assistance with their mental well-being.

North America dominates the global Mental Health Screening market in 2023.

The Mental Health Screening market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America and Middle East and Africa. In 2022, North America accounted for the largest share of the Mental Health Screening market. As this region is home to a significant number of mental health screening solution manufacturers. Moreover, the growing number of people requiring mental health services, increasing mental health reforms, and the availability of government funding for expanding mental health services in the region, reinforces its position at the forefront of the mental health screening market.

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Mental Health Screening Market Dynamics:

Drivers:

1. Growing geriatric population and subsequent increase in prevalence of mental disorders
2. Rising awareness of mental health issues
3. Technological advancements
4. Increasing focus on remote monitoring

Restraints:

1. Stigma and limited awareness
2. Data privacy concerns

Opportunities:

1. Integration with wearable technologies
2. Rise of social media and its impact on adoption of mental health screening tools

Challenge:

1. Concerns regarding accuracy and validity

Key Market Players of Mental Health Screening Industry:

Prominent players in the Mental Health Screening market include Adaptive Testing Technologies (US), Proem Behavioral Health (US), Aiberry (US), SonderMind Inc. (US), Clarigent Health (US), Riverside Community Care (US), Kintsugi Mindful Wellness, Inc. (US), Thymia Limited (UK), Ellipsis Health Inc. (US), Canary Speech, Inc. (US), Headspace Health (US), Quartet Health, Inc. (US), Modern Life, Inc. (US), Sonde Health, Inc. (US), FuturesTHRIVE (US), Koninklijke Philips N.V. (Netherlands), Alphabet Inc. (Fitbit) (US), ResMed (US), Apple Inc. (US), MoodFit (US), Wellin5 USA Inc. (Canada), MoodTools (US), Cognitive Health Solutions LLC (US), Woebot Labs Inc. (US), and CogniABle (India).

Breakdown of the supply-side, demand side, primary interviews by company type, designation, and region:

• By Supply Side: Tier 1 (25%), Tier 2 (5%), and Tier 3 (70%)
• By Designation: C-level Executives (27%), Director-level (18%), and Managers (55%)
• By Region: North America (45%), Europe (30%), Asia Pacific (20%), Latin America (3%), and Middle East and Africa (2%)

Recent Developments of Mental Health Screening Industry:

• In November 2023, SonderMind (US) acquired Total Brain (US) to expand its reach, offering individualized mental wellness, supporting therapists with enhanced care techniques, providing population mental health tools for enterprises, and delivering comprehensive solutions to health plans.
• In October 2023, Ellipsis Health, Inc. (US) partnered with Augmedix (US) to introduce automated mental health screenings during patient visits.
• In December 2021, Quartet Health, Inc. (US) successfully acquired InnovaTel Telepsychiatry (US), turning its vision of rapidly delivering high-quality mental healthcare for everyone into a reality.

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Mental Health Screening Market - Key Benefits of Buying the Report:

The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or a combination of the below-mentioned five strategies.

This report provides insights into the following pointers:

• Analysis of key drivers (growing geriatric population and subsequent increase in prevalence of mental disorders, rising awareness of mental health issues, technological advancements, increasing focus on remote monitoring), restraints (stigma and limited awareness, and Data privacy concerns), opportunities (integration with wearable technologies, and rise of social media and its impact on adoption of mental health screening tools) and challenge (Integration with wearable technologies).
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the Mental Health Screening market.
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various types of Mental Health Screening solutions across regions.
• Market Diversification: Exhaustive information about solutions, untapped regions, recent developments, and investments in the Mental Health Screening market.
• Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the Mental Health Screening market.

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