AI in Mental Health Market Size, Share, and Industry Analysis By Technology (Natural Language Processing (NLP), Machine Learning & Deep Learning, and Others), By Application (Patient Data Analysis, Self-Assessment & Speech Therapy, Cognitive Behavioral Therapy (CBT), and Others), By End-user (Hospitals & Clinics, Mental Health Centers, Academic & Research Institutes, and Others), and Regional Forecast 2024-2032

Artificial Intelligence (AI) is a branch of computer science that aims to create machines capable of performing tasks that would typically require human intelligence. These tasks include learning, problem-solving, perception, and decision-making. AI systems can interpret and analyze data, adapt to new inputs, and make decisions without explicit programming.

The deployment of Artificial Intelligence (AI) in mental health involves the usage of computational technologies to enhance the understanding, diagnosis, and treatment of mental health disorders. It analyzes data from various sources, such as electronic health records (EHR) and wearable devices, to identify biomarkers and improve the accuracy of diagnosis. AI systems can determine personalized treatments, enhance access to mental healthcare, and support clinical decision-making by analyzing large datasets rapidly. Additionally, AI supports mental health services, increases workplace efficiency, and promotes wellness through empathetic, text-based, conversational mobile apps, benefiting users with depression and other conditions.

The integration of artificial intelligence (AI) in mental health care enhances the diagnosis and treatment due to its capability to evaluate people's speech, behaviors, and social interactions with the use of machine learning (ML) algorithms. This enables more accurate diagnosis of mental health conditions, resulting in an increased adoption of AI-powered solutions. Therefore, the growth of the market is primarily attributed to the rising acceptance and adoption of AI technologies in mental health care. This high adoption is expected to be fueled by the rising prevalence of mental health disorders and the need for more effective and efficient mental health care solutions.

• For instance, according to the World Health Organization, around 280.0 million individuals are currently living with depression worldwide. AI in mental health is rapidly transforming the landscape of depression management, offering accessibility and responsiveness. They tailor the therapy and provide real-time feedback by collecting user data. (March 2023)

These factors are expected to increase the demand for AI-based solutions, driving market growth. Moreover, the increase in the number of studies that discover or advance the use of artificial intelligence (AI) in mental health is also anticipated to propel market expansion over the coming years.

• For instance, according to the Cedars-Sinai, the scientists developed a novel application that uses immersive virtual reality and AI to provide effective mental health support. (January 2024)

Such developments are expected to increase the availability of different technologies used for AI in mental health, propelling the market growth.

The COVID-19 pandemic had a significant impact on the adoption of AI in mental health. The pandemic led to a preferential shift in the delivery of mental health services toward the online counseling due to the closure of several healthcare facilities, thereby providing an opportunity for AI in mental health.

• For instance, in June 2022, according to Ieso Digital Health, online therapy for mental health rose from 7.0% to over 90.0% within a couple of months during 2020. This preferential shift toward online therapies for mental health significantly fueled the adoption of AI in mental health. This high adoption surged the market growth during the pandemic.

Key Insights

The report covers the following key insights:

• Prevalence of Key Mental Diseases, By Key Countries, 2022/2023


• New Product/Services Offerings, By Key Players


• Overview: Technological Advancements in AI-Driven Mental Health Diagnostics


• Key Industry Developments (Mergers, Acquisitions, Partnerships, and Others)


• Impact of COVID-19 on the Market      

Segmentation

Analysis by Technology

Based on technology, the machine learning & deep learning segment is expected to hold a significant share of the global AI in the mental health market during the forecast period. The AI technologies, including machine learning & deep learning, propose an objective and evidence-based approach to improve the accuracy of mental health diagnoses. This advantage is anticipated to boost the adoption of AI-based solutions for mental health during the projection period.

• For instance, according to Binariks Inc., AI showed a significant accuracy in predicting the likelihood of individuals in the prodromal phase progressing to psychosis, with a success rate of around 30.0% over three years, using machine learning & deep learning algorithms. (December 2023)

These significant outcomes of machine learning & deep learning are expected to boost their utilization of AI-based solutions for mental health, thereby spurring segmental growth over the upcoming years.

On the other hand, natural language processing (NLP) is expected to witness substantial growth prospects during the forecast period. Natural language processing (NLP) provides several advantages in the simulation of human conversations via a chatbot and creating and understanding clinical documentation. This increases the demand for natural language processing in AI-powered solutions and expands their availability throughout, which is expected to boost the segmental growth.

Regional Analysis

North America is anticipated to hold a significant share of the AI in the mental health market during the forecast period. The increasing investments by regional investors to bring AI-powered mental health support to the region are expected to fuel the availability of AI-powered tools by global players in the region. This increasing availability of AI-powered tools enhances the diagnosis and treatment outcomes for mental health in the region, increasing their utilization, which is expected to boost the regional market growth.

• For instance, in March 2024, Limbic raised USD 14.0 million to expand the availability of its mental health AI in the U.S. Khosla Ventures led this funding and joined investors in the country.

Asia Pacific is projected to expand at a substantial CAGR over the forthcoming years. AI-powered tools such as chatbots help in the diagnosis and treatment of mental illnesses with the interpretation of non-verbal signs, including posture, facial expression, or gestures, to understand a patient’s emotional state and choose proper words to relieve stress and anxiety. This advantage of AI in treating mental illnesses increases their adoption in the diagnosis and treatment of several mental illnesses. Therefore, the increasing burden of mental disorders such as anxiety and depression has been fueling the demand for AI-driven tools for disease management. 

• For instance, in October 2023, according to data published by Mind Voyage, the prevalence of depression or anxiety increased to 16.8% by March 2022 compared to the early days of the pandemic. Additionally, the report indicates that a higher percentage of women were affected by anxiety and depression compared to men.

Key Players Covered

The report includes the profiles of key players such as Woebot Health, Wysa Ltd, HEADSPACE HEALTH, Cognoa, Inc., New Life Solution, Inc., Talkspace, Youper Inc., Limbic, and Quartet.

Key Industry Developments

• In August 2023, Swiss Re, in partnership with Wysa, launched Wysa Assure, an AI-based mental health support app. This integrated app helped the company meet the needs of insurers and their customers.


• In December 2023, BlueSkeye AI announced that it received the U.K.'s Medical and Healthcare Products Regulatory Agency (MHRA) approval to begin clinical trials for a perinatal mental health app to detect and monitor depression.


• In January 2022, HEADSPACE HEALTH acquired Sayana, an AI-powered mental health and wellness company. This acquisition expanded the company’s ability to provide customized self-care to its users.