Mental health software sales are projected to hit $8 billion by 2031, according to data from Astute Analytica. In 2022, the global market reached revenue of $2.8 billion.
There are several driving factors behind this growth, including technological improvements, integration with electronic health records and wearable devices and personalized treatment plans, according to an Aug. 11 news release.
The highest mental health software market is North America, which saw $1.2 billion in revenue in 2022. The region is also expected to witness a compound annual growth rate of 11.9 percent from 2023 to 2031 in the market.
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