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Mental Health Report 2024: Key Data & Innovation Insights

Mental Health Report 2024: Key Data & Innovation Insights

Emerging mental health companies focus on removing stigma associated with mental health and streamline access to services to meet the increasing demand for mental health solutions. This report explores key market data as well as areas of innovation and their implications for people worldwide.
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The 2024 Mental Health Report analyzes the evolving landscape of mental health care, focusing on advancements, trends, and challenges. It explores the integration of technology in mental health services, including teletherapy, mental health apps, and AI-driven diagnostic tools. The report also covers firmographic data, investment patterns, and innovative startups that are driving the industry forward.

This mental health industry report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.

StartUs Insights Mental Health Report 2024

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Executive Summary: Mental Health Industry Report 2024

This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 4K+ mental health startups developing innovative solutions to present five examples from emerging mental health industry trends.

  • Industry Growth Overview: The mental health industry demonstrates steady expansion with an annual growth rate of 8.11%. It encompasses over 4000 startups and more than 26000 companies.
  • Manpower & Employment Growth: Globally, the mental health industry employs 2.4 million workers, with over 150000 new employees added last year.
  • Patents & Grants: The mental health sector holds over 500 patents and has received 2500+ grants.
  • Global Footprint: Top country hubs include the USA, UK, Canada, Australia, and India. Further, the leading city hubs include London, New York City, Melbourne, Sydney, and Los Angeles.
  • Investment Landscape: The average investment value per funding round stands at USD 13 million. The sector has witnessed over 6500 funding rounds and investments in more than 2500 companies.
  • Top Investors: Investors like Deerfield, Coatue Management, Tiger Global Management, and more have collectively invested USD 2 billion.
  • Startup Ecosystem: Five innovative startups include SENSEDAT (Mental Health Digital Biomarkers), Kaktus AI (Workplace Mental Health Analytics), NeuroBrave (Wearable Mental Health Insights), PsyTech VR (VR Micro-training System), and HIVE BIO (Ketamine-assisted Psychotherapy).
  • Recommendations for Stakeholders: Invest in technology-driven solutions like teletherapy platforms and AI-based mental health assessments to enhance accessibility and efficiency. Governments must increase funding for mental health services, promote awareness, and support public-private partnerships to expand service reach. Lastly, Companies should prioritize employee mental health by integrating comprehensive wellness programs.

Explore the Data-driven Mental Health Industry Outlook for 2024

The Mental Health Report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. Our database includes 4000+ startups and over 26000 companies. This is an indication of active participation. The annual growth rate stands at 8.11%, reflecting consistent expansion in the sector. With over 500 patents and more than 2500 grants, innovation, and research support are evident.

The global workforce in the mental health industry totals 2.4 million, highlighting significant manpower. The employee growth last year exceeded 150000. This emphasizes the sector’s expanding employment opportunities. The top country hubs for the mental health industry are the USA, UK, Canada, Australia, and India. The leading city hubs include London, New York City, Melbourne, Sydney, and Los Angeles. This underscores major urban centers of activity.

What data is used to create this mental health report?

Based on the data provided by our Discovery Platform, we observe that the mental health industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.

  • News Coverage and Publications: There are over 4500 publications in the last year that highlight significant media attention.
  • Funding Rounds: Our database records more than 6500 funding rounds, indicating strong financial activity in the sector.
  • Manpower: The industry employs over 2.4 million workers, with 150000 new employees added last year.
  • Patents: There are over 500 patents in the mental health industry.
  • Grants: Further, 2500+ grants have been awarded, reflecting research and development support.
  • Global Search Growth: The yearly global search growth for mental health topics is at 7.53%. This demonstrates the increasing public interest and awareness.

A Snapshot of the Global Mental Health Industry

The mental health industry experiences an annual growth rate of 8.11%. This is an indication of steady expansion and relevance. The sector includes 4000 startups, with over 1000 in the early stages, reflecting a vibrant and innovative startup environment. In addition, the industry has witnessed 900 mergers and acquisitions, demonstrating consolidation and investment activities.

Regarding intellectual property, the mental health sector holds 500 patents, with more than 450 applicants contributing to a yearly patent growth rate of 16.79%. China leads as the top issuer with over 200 patents, followed by the USA with 150+.

Explore the Funding Landscape of the Mental Health Industry

From a financial perspective, the mental health industry has an average investment value of USD 13 million per funding round. The sector has drawn interest from over 2000 investors, resulting in more than 6500 funding rounds and investments in over 2500 companies. These figures underscore the substantial financial commitment and support fueling growth and innovation within the mental health industry.

Who is Investing in Mental Health Solutions?

The total investment value by prominent investors in the mental health industry surpasses USD 2 billion. Here are the top investors, their invested value, and the number of companies they have invested in:

Explore the emerging trends within the mental health industry along with the firmographic insights:

  • Gamification in mental health enhances user engagement, improves outcomes, and provides innovative therapeutic interventions. This emerging trend involves over 15000 companies. The sector employs more than 690K individuals, including 85K new hires in the past year. The annual trend growth rate for gamification stands at 4.82%, reflecting the steady adoption of gamified solutions for mental health.
  • Biomarkers offer valuable insights into mental health conditions, enabling precise diagnostics and personalized treatment plans. This trend is gaining traction, with over 3K companies identified. It employs 115K+ individuals, including 15K new employees in the last year. The annual trend growth rate for biomarkers is 10.53%.
  • Mental Health Teletherapy is a growing trend, with over 40 companies operating in this field. It employs more than 2K individuals, with over 200 new hires in the past year. The annual trend growth rate for teletherapy is 0.64%, reflecting a stable yet gradual adoption rate.

5 Top Examples from 4K+ Innovative Mental Health Startups

The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.

SENSEDAT provides Mental Health Digital Biomarkers

Italian startup SENSEDAT offers digital biomarkers for diagnostics and monitoring of mental health conditions. Its platform offers a self-tracking feature that allows users to monitor mood, anxiety, and stress indicators. Further, its forecasting feature leverages AI models to estimate emotional resilience and mind-body balance. SENSEDAT benefits individuals interested in understanding and improving their emotional well-being.

Kaktus AI advances Workplace Mental Health Analytics

UK startup Kaktus AI develops an AI-powered platform to improve workplace culture, performance, and wellbeing. It analyzes team engagement, communication, and collaboration to provide insights into behavior patterns. The platform empowers employees to take control of their mental well-being while allowing leaders to create organizational ethos. The startup’s modular approach enables customization and early detection of potential issues. Its behavioral science-based nudges drive new behaviors at scale and improve productivity. Further, the platform offers recognition and reward programs, customizable surveys, and data security features.

NeuroBrave offers Wearable Mental Health Insights

Israeli startup NeuroBrave provides real-time cognitive states and neuromarkers insights as a service. Its platform, NeuroSpeed OS, connects to sensors and devices, including keyboards, console controllers, earphones, smartwatches, and EEG devices. The platform offers features such as real-time cloud performance, deep learning algorithms, and spectral signal processing. NeuroBrave’s approach includes sensor fusion, customizable dashboards, and a streaming web API for integration. The startup’s applications span gaming, neurofeedback, and wearable devices.

PsyTech VR builds VR Micro-training System

US startup PsyTech VR develops virtual reality (VR) and augmented reality (AR) solutions for mental health therapy, research, and training. Its platform offers VR therapy to overcome anxieties, phobias, anger, stress, and post-traumatic stress disorder (PTSD). The startup’s platform also incorporates VR biosensors to measure heart rate variability (HRV) and provides a dashboard with statistics for specialists. The system teaches patients to cope with mental disorders using VR micro-training. PsyTech VR is available for Meta Quest, PICO, and HTC devices.

HIVE BIO offers Ketamine-assisted Psychotherapy

Maltese Startup HIVE BIO develops a platform that leverages ketamine-assisted psychotherapy (KAP) to enhance neuroplasticity and promote healing for mental health. Its licensed residential facility offers wellness checks, acupuncture, and massage. This creates a safe environment for health journeys. The startup also incorporates mindfulness activities like breathwork, meditation, and art therapy. Further, it offers customized nutrition plans based on individual parameters and lifestyle counseling to establish positive attitudes toward health, work, and relationships.

Gain Comprehensive Insights into Mental Health Trends, Startups, or Technologies

The mental health report shows an industry promising growth, driven by innovations in gamification, biomarkers, and teletherapy. The industry’s future will likely involve deeper technology integration, personalized treatments, and improved accessibility to mental health services. Get in touch to explore all 4000+ startups and scaleups, as well as all industry trends impacting mental health companies.

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