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Mental Health Tech
Overview
Making mental health services accessible and affordable
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.
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 with just a few successful product launches, but it shows great potential.
Industry Updates
Market Sizing
The US telepsychiatry market size could reach USD 4.9-8.7 billion by 2025
USD 4.9 Bn
USD 6.8 Bn
USD 8.7 Bn
COVID-19 IMPACT
Talkspace: 25% increase in user volume from mid-February to May 2020. 23% YoY increase in app installation reported in September 2020.
Betterhelp: A doubling of users reporting stress and anxiety between Feb and March 2020.
Ginger: 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.
Neuroflow: Expanded customer base 10x to 330,000 registered users by the end of 2020.
Lyra Health: More than doubled membership to 1.5 million users between February and August 2020.
Market Mapping
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.
Telepsychiatry Platforms
?Monitoring and Measuring Tools
?Digital Therapeutics
?P2P Support Tools
?The Disruptors
Monitoring and Measuring and Telepsychiatry Form the Bulk of Mental Health Tech Disruptors while Digital Therapeutics Lead in terms of Funding
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.
Telepsychiatry Platforms
?Disruptors
LifeStance Health
Talkspace
Lyra Health
Cerebral
Elemy
Spring Health
Ginger
Quartet Health
SonderMind
Mindstrong
Workit Health
Brightline
Headway
Alma
Ophelia
Aptihealth
Unmind
Groups Recover Together
Cortica
Meru Health
NOCD
AbleTo
Octave
Bicycle Health
Eleanor Health
Brightside Health
Valera Health
Little Otter
Talkiatry
Opya
DotCom Therapy
Monument
Real Therapy
Grow Therapy
Concert Health
Boulder Care
Healios
PursueCare
Zenklub
QLER Telehealth
Rey
Brave Health
ifeel
Ahead
HelloHero
Mindful Care
DynamicCare Health
Calmerry
Hurdle
Wellin5
Cloud 9
Done
Watchlist
Mantra Health
Lucid Lane Inc.
Pace Group Inc.
HelloSelf
MindLabs
Minded
wayForward
Mine’d
Spill App
Joon Care
NUE Life Health
MiResource
Coa
Integrative Health Centers
Parallel Learning
Oliva
Daybreak Health
Therify
Nivati
MindRight Health
Ayana Therapy
First Session Health Inc.
Reviving Mind
Monitoring and Measuring Tools
?Disruptors
Linus Health
NeuroFlow
Ellipsis Health
BrainCheck
XRHealth
Nirvana Health
Eleos Health
Therapy Brands
Watchlist
Osmind
Blueprint
NUE Life Health
Frame
HealthRhythms
Ksana Health
Clarigent Health
Rose
Digital Therapeutics
?Disruptors
MindBeacon Software Inc.
Click Therapeutics
Pear Therapeutics
Akili Interactive Labs
Modern Health
BlackThorn Therapeutics
Big Health
Happify Health
Woebot Health
Quit Genius
ieso
AppliedVR
Cognoa
Koa Health
NOCD
Blue Note Therapeutics
Limbix
Mightier
Freespira
Equip Health
Wysa
Affect Therapeutics
BeMe
Watchlist
BehaVR, LLC
Youper
Inflow
Wave
Revery
Reframe
UpLift Health
Healthy Quit
Cognito Therapeutics
P2P Support Tools
?Disruptors
Togetherall
Marigold Health
Supportiv
7 Cups
Circles
Watchlist
Sober Grid
TalkLife
MentalHappy
ForLikeMinds
Arli
LifeStance Health
LifeStance Health provides a range of mental health care services, both in-person and online, including psychiatric appointments, medication management, individual therapy, and group therapy. As of May 2021, the company served patients across 27 US states via 370 centers, employing more than 3,300 clinicians.
- Segment:
- Telepsychiatry Platforms
- Competitors:
- Talkspace, Ginger, Quartet Health
Disruptor Funding History
Telepsychiatry Platforms:
Talkspace
Lyra Health
Cerebral
Elemy
Spring Health
Ginger
Quartet Health
SonderMind
Mindstrong
Workit Health
Brightline
Headway
Alma
Ophelia
Aptihealth
Unmind
Groups Recover Together
Cortica
Meru Health
NOCD
AbleTo
Octave
Bicycle Health
Eleanor Health
Brightside Health
Valera Health
Little Otter
Talkiatry
Opya
DotCom Therapy
Monument
Real Therapy
Grow Therapy
Concert Health
Boulder Care
Healios
PursueCare
Zenklub
QLER Telehealth
Rey
Brave Health
ifeel
Ahead
HelloHero
Mindful Care
DynamicCare Health
Calmerry
Hurdle
Wellin5
Mantra Health
Lucid Lane Inc.
Pace Group Inc.
HelloSelf
MindLabs
Minded
wayForward
Mine’d
Spill App
Joon Care
NUE Life Health
MiResource
Coa
Integrative Health Centers
Parallel Learning
Oliva
Daybreak Health
Therify
Nivati
MindRight Health
Ayana TherapyMonitoring and Measuring Tools:
Linus Health
NeuroFlow
Ellipsis Health
BrainCheck
XRHealth
Nirvana Health
Eleos Health
Osmind
BlueprintNUE Life Health
Frame
HealthRhythms
Ksana Health
Clarigent HealthDigital Therapeutics:
The Incumbents
Most incumbents are established telehealth players that expanded into mental health through acquisitions
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.
