The market continues to be strong for the health and wellness app market, with an estimated US$1.6 billion global market for health and wellness apps overall (Sensor Tower, 2022). Furthermore, Deloitte …
The market continues to be strong for the health and wellness app market, with an estimated US$1.6 billion global market for health and wellness apps overall (Sensor Tower, 2022).
Furthermore, Deloitte Global predicts that global spending on mobile mental health applications will reach close to US$500 million in 2022. This is assuming an annual growth rate of 20%—a conservative figure, considering the 32% growth these apps enjoyed, from US$203 million to US$269 million, from the first 10 months of 2019 to the same period in 2020.
As many as 20,000 mental health apps may exist today, with two of the most popular being Calm and Headspace. Both of these mobile app focus on mindfulness and meditation, and are meant to help individuals get support other than from connection to a therapist or other traditional mental health services.
Additionally, many mental health app developers are launching collaborations with other online services and apps, such as Snapchat and Bumble, which will likely make them more accessible to a larger share of consumers. In addition, most of the current market is in the B2C space vs B2B enterprise space, opening up many new opportunities for new market players to service large enterprises.
Why So Much Focus On Mindfulness?
There are so many reasons, but our world values are evolving and as humans we want a world that has increased kindness and passion, and valid research shows that mindfulness improves our capacity to cope by helping not only our wellbeing and mental clarity, but this reflection permission gives us an increased ability to care for both ourself and others.
Major research validates that mindfulness practices can help us increase our ability to regulate emotions, decrease stress, anxiety and depression. It can also help us to focus our attention, as well as to observe our thoughts and feelings without judgment.
In a world that is dubbed the blur economy, finding moments to simply be without a new thought emerging is a human potential we need to hang on to.
Did you know that the average person will typically have more than 6,000 thoughts in a single day, recent research into the human brain suggests.
The mindfulness practice has now moved from a largely obscure Buddhist concept founded about 2,600 years ago to a mainstream psychotherapy construct today.
My next blog will provide more insights on the empirical benefits of mindfulness so as board directors and C-Level executives, you can lead with more confidence to put MindFulness on your leadership priorities and cultivate a culture that embraces reflection and renewal.