Subscription or membership-based platforms and apps to connect therapists, psychiatrists or behavioral health coaches with patients. 


Products for behavioral health and mental health tracking, measurement-based care, and real-time remote monitoring of patients. 

Mobile-based apps and FDA-approved software that incorporate evidenced-based cognitive behavioral therapy to prevent, treat, or manage mental and behavioral conditions in conjunction with or as a replacement for traditional medication.

Online peer-to-peer platform and support system that connects mental health communities. 

New technologies are opening up mental health services to previously overbooked and underserved populations.

Mental Health Tech

Overview

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    Making mental health services accessible and affordable
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    Mental health tech refers to services that help treat mental health conditions via mobile and/or online platforms. A main function of mental health tech platforms is to connect physicians and practitioners directly to patients without barriers such as a lack of proximity, prohibitive cost, or long wait times in the doctor’s office.
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    The mental health tech ecosystem is broad and includes telepsychiatry platforms, digital therapeutics, monitoring/measuring tools, and peer to peer apps. Telepsychiatry is at the forefront of the industry, and has been gaining traction with a growing number of users. Monitoring/ measuring tools follow, but the services have yet to see mass adoption. Digital therapeutics (software-based therapeutic interventions given directly to patients for preventing, managing, or treating mental disorders) is an emerging segment, and it shows great potential.
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The US telepsychiatry market size could reach USD 6.9 billion–12.8 billion by 2026

Market Sizing

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  <p>
    <b>Talkspace: </b>
    25% increase in user volume from mid-February to May 2020. 23% YoY increase in app installation reported in September 2020. 
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    <b>Betterhelp: </b>
    A doubling of users reporting stress and anxiety between Feb and March 2020.
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    <b>Ginger:</b>
     159% increase in usage of its text-based mental health coaching service over pre-pandemic levels. 302% increase in virtual therapy and psychiatry sessions over pre-pandemic levels. 
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    <b>Neuroflow: </b>
    Expanded customer base 10x to 330,000 registered users by the end of 2020.
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    <b>Lyra Health: </b>
    More than doubled membership to 1.5 million users between February and August 2020.
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COVID19-IMPACT

Market Mapping

<p>Incumbents in the industry deliver telepsychiatry services as part of their telemedicine services while disruptors specializing in mental health tech have successfully established their foothold in the market mainly due to the increasing number of mental health patients. Most of the disruptors are concentrated in the telepsychiatry segment, given its popularity of facilitating live interaction sessions with psychiatrists as an alternative to in-person doctor visits.</p>

The Disruptors

<h3>Monitoring and Measuring and Telepsychiatry Form the Bulk of Mental Health Tech Disruptors while Digital Therapeutics Lead in terms of Funding</h3><p>The mental health tech space currently has around 340 startups comprising telepsychiatry platforms, digital therapeutics, monitoring/measuring tools and peer-to-peer apps (the segments focused on in this report). By numbers, monitoring and measuring and telepsychiatry form the bulk of the sector’s startups. In terms of funding, however, digital therapeutics takes the largest share, despite its smaller number of startups. Digital therapeutics’ larger funding share could be explained via its products’ prescription-based nature, which calls for heavy investments before passing stringent regulatory compliance.</p>

Disruptor Funding History

The Incumbents

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    Most incumbents are established telehealth players that expanded into mental health through acquisitions
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    The incumbents in the mental health tech industry are mainly established telehealth players that have expanded their virtual care scope to cover mental health. Many leading telehealth players have already ventured into the mental health market by acquiring mental health telehealth providers.
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Mental Health Tech

Mental Health Tech

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