AI In Mental Health Market was valued at US$599.2 million in 2021, witnessing significant growth

December 01, 2023 05:35 AM PST | By EIN Presswire

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AI In Mental Health Market was valued at US$599.2 million in 2021, witnessing significant growth — Image source: Kalkine Media

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NOIDA, UTTAR PARDESH, INDIA, December 1, 2023 /EINPresswire.com/ -- According to a new report published by Knowledge Sourcing Intelligence, forecasted between 2021 and 2028, AI in mental health market was valued at US$599.2 million in 2021 and is anticipated to propel significantly over the coming years.

The key driving force behind the rapid growth of the AI in mental health market is the increasing awareness of mental health coupled with the advancement of new healthcare technology such as machine learning and Artificial Intelligence in diagnostics to predict prevalence of mental illness and identify symptoms of poor mental health. For instance, in October 2023, the World Health Organization issued a new publication outlining key regulatory aspects for artificial intelligence (AI) in healthcare. The publication emphasizes the significance of ensuring the safety and effectiveness of AI systems. In October 2022, At the World Innovation Summit for Health (WISH) in Qatar, WHO launched the AI-powered WHO digital health worker, Florence version 2.0, providing an innovative and interactive platform to share advice on wide range of health topics including mental health in seven languages.

AI in mental health involves the use of artificial intelligence in mental healthcare and its applications include diagnosing mental disorders, estimating mental health crises, recognizing symptoms of poor mental health, and developing personalized plans for therapy. AI has been used in mental health care using personal sensing.

Numerous product launches and advancements are taking place in the market. For instance, in October 2022, Cerba and Taliaz announced an agreement to provide physicians with an AI-driven accuracy psychiatry solution that predicts depression treatment efficiency. The test assists physicians in making the best therapeutic decisions for their patients more quickly and can accelerate the recovery of the world's 280 million people suffering from depression.

Access sample report or view details: https://www.knowledge-sourcing.com/report/ai-in-mental-health-market

The AI in mental health market, based on technology, is segmented into five main categories namely machine learning, natural language processing (NLP), deep learning, computer vision, and others.

The AI in mental health market, based on application, is segmented into five main categories namely diagnosis and treatment, virtual assistants and chatbots, mental health monitoring, predictive analytics, and others.

The AI in mental health market, based on end-users, is segmented into four main categories namely hospitals and clinics, mental health centers, research institutions, and others.

North America is poised to experience substantial growth. The region has a strong healthcare IT infrastructure, which has contributed to the adoption of AI technologies in a variety of healthcare fields, including mental healthcare. Booming healthcare spending in United States has accelerated the technological adoption in clinics and hospitals to improves diagnosis which has resulted in a booming recovery in mental health issues among the people. For instance, in September 2023, The Substance Abuse and Mental Health Services Administration (SAMHSA) issued a new report with data on adults in recovery from mental health problems. As per the report, in 2021, 66.5% or 38.8 million out of 58.7 million adults perceived to have recovered or are still recovering from their mental health problems.

The research includes coverage of Google LLC (Alphabet Inc.), Microsoft Corporation, IBM Corporation, Amazon Web Services (AWS), Intel Corporation, Cogito Corporation, Ginger.Io Inc., Woebot Health, Pear Therapeutics, Inc., Lantern (Acquired By Ginger.Io Inc.) as the significant market players in the AI in the mental health market.

The market analytics report segments the AI in the mental health market using the following criteria:

• By Technology

o Machine Learning
o Natural Language Processing (Nlp)
o Deep Learning
o Computer Vision
o Others

• By Application

o Diagnosis And Treatment
o Virtual Assistants And Chatbots
o Mental Health Monitoring
o Predictive Analytics
o Others

• By End-User

o Hospitals And Clinics
o Mental Health Centers
o Research Institutions
o Others

• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Italy
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Indonesia
• Taiwan
• Others

Companies Profiled:

• Google LLC (Alphabet Inc.)
• Microsoft Corporation
• IBM Corporation
• Amazon Web Services (AWS)
• Intel Corporation
• Cogito Corporation
• Ginger.Io Inc.
• Woebot Health
• Pear Therapeutics, Inc.
• Lantern (Acquired By Ginger.Io Inc.)

Explore More Reports:

• AI In Diagnostics Market: https://www.knowledge-sourcing.com/report/ai-in-diagnostics-market

• AI In Precision Medicine Market: https://www.knowledge-sourcing.com/report/ai-in-precision-medicine-market

• AI In Cancer Diagnostics Market: https://www.knowledge-sourcing.com/report/ai-in-cancer-diagnostics-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
email us here
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