Digital Brain Health Market to Exceed Value of US$ 382.9 Bn by 2031: TMR Report

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Nov 01, 2022, 14:30 ET

Adoption of digital apps and software for management of mental health concerns especially in adults propelling growth of digital brain health market; adverse impacts of extensive technology use among children catalyzes need for mental health interventions
High prevalence of anxiety and depressive disorders steering demand for clinical functionality care; North America witnessing ample opportunities

WILMINGTON, Del., Nov. 1, 2022 /PRNewswire/ -- Digital mental health companies are investing in digital brain health market stocks to develop innovative tools and apps in order to manage mental health and meet the needs of healthcare providers. A scrutiny of TMR analysts found that mental health interventions are invigorated by efforts by community-based services providers and NGOs, especially after COVID-19 pandemic, as digital brain health market trends highlight.

The TMR study has projected to expand at CAGR of 7.3% during 2022–2031. Rise in acceptance of digital tools and apps for mental health interventions worldwide notably for monitoring and treating various mental health problems will assist firms to capture revenues from growing digital brain health market size.

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Awareness of the significant adverse impacts of extensive technology use among children, including attention-deficit hyperactivity disorder, is stirring the demand for mental health interventions, found a digital brain health market analysis. Companies are unveiling new technologies in electronic health records (EHR), telehealth, and clinical decision support (CDS) to augment their digital brain health market shares.

Key Findings of Digital Brain Health Market Study

Mental Health-Related Consultations Witnessing Massive Lucrative Demand: The report authors observed an enormous demand for digital brain health management for managing mental health complications. Of note, hospitals are witnessing substantial demand for mental health-related consultations, which underpins vast revenue potential in digital brain health market. Increased prevalence of schizophrenia and epilepsy over the past few decades has led to rising demand for specialized care and more comprehensive mental care plans. The clinical functionality segment thus is expected to attract tremendous opportunities for firms in the digital brain health market.
Mobile Phone-Based Interventions for Reducing Mental Illness: Rising acceptance of mobile phone-enabled mental health interventions has helped in reducing the burden of mental illness. This has created massive avenues in digital brain health market. Neurologists have found positive evidence of the effects of these on improving the mental health, notably for preventing cognitive decline in older adults.

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Digital Brain Health Market: Key Drivers

Rise in awareness of the negative effects of extensive use of technologies and excessive exposure to screen time on the mental health of children is a key driver of the digital brain health market.
Growing body of study that elucidates the correlation of media use and problems such as impaired brain development and attention problems has spurred the need for mental health interventions. This is creating substantial revenue streams in digital brain health market.
Prevalence of mental health conditions such as cognitive impairments, Alzheimer's disease dyslexia, attention deficits, and sleep disruption is a key underpinning of digital brain health management tools and software. The trend is boosting digital brain health market.

Digital Brain Health Market: Regional Growth Dynamics

The TMR study found North America held a key share of the global market in 2021. Massive uptake of the products was partly driven by substantial demand for mental health interventions in the patient population in the U.S. The region is anticipated to offer copious opportunities to market players in the years ahead, fueled by rising demand for mental health apps.
Revenues in Asia Pacific digital brain health market are projected to grow at an attractive rate during the forecast period. Rising number of people with mental health conditions in conjunction with the trend of NGOs leaning on raising awareness of mental health diseases burden will generate new growth opportunities in the regional market.

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Digital Brain Health Market: Key Players

Presence of large numbers of local and international players dotting the competition landscape has resulted in a highly fragmented landscape in the digital brain health market.

Some of the key players are Linus Health, Medibio, The Echo Group, Spring Care, Inc. Qualifacts Systems, Inc., NXGN Management, Netsmart Technologies, IBM, Holmusk, Core Solutions, Inc., and Cerner Corporation.

Digital Brain Health Market Segmentation

Functionality

Clinical Functionality
Electronic Health Records (EHR)
Clinical Decision Support (CDS)
Care Plans/Health Management
E-Prescribing
Telehealth
Others
Administrative Functionality
Financial Functionality

Component

Software
Devices

End-user

Hospitals
Specialty Clinics
Others

Regions Covered

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

Countries Covered

U.S.
Canada
Germany
U.K.
France
Spain
Italy
Japan
China
India
Australia & New Zealand
Brazil
Mexico
GCC Countries
South Africa

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