09 October 2020 | News
In observance of World Mental Health Day 2020, healthcare experts share key findings on investments and tools contributing to treatments for mental health disorders
Photo Credit: PRNewswire
Isolation and loneliness due to the COVID-19 pandemic have caused stress, anxiety, and depression, generating a significant need for solutions to manage the lack of physical access to therapy and treatment. Frost & Sullivan estimates global investments of nearly $1.4 billion in 2020 for health-tech companies in the mental health management sector, with about 75% of it directed to the U.S. market.
Five key technologies supporting mental health management:
"We will continue to see investments in telepsychiatry and healthcare applications that can collect patient data on their condition and outcomes," said Chandni Mathur, Digital Health Senior Industry Analyst at Frost & Sullivan. "There is high demand for more holistic and scalable platform-based solutions. The ability for vendors to demonstrate clinical evidence and address the full spectrum, including most complex mental health conditions, will be critical for success. In addition, the technological intervention cannot be a one-size-fits-all approach. With every patient having a unique condition, social status and requirement, personalized digital treatment plans will be important."
For Frost & Sullivan information on the global mental health market, visit: https://hub.frost.com/the-global-mental-health-market/