Digital Brain Health Market Outlook 2031
- The global digital brain health market was valued at US$ 184.7 Bn in 2021
- The global market is projected to grow at a CAGR of 7.3% from 2022 to 2031
- The global digital brain health market is anticipated to reach more than US$ 382.9 Bn by the end of 2031
Digital Brain Health Market Introduction
Digital wellness is the usage of technology to ensure an individual’s physical and brain health or mental health. Brain health is a condition of the brain functioning across cognitive, social-emotional, sensory, behavior, and motor domains. The condition when the brain is affected by various diseases is called ‘dementia’. Mental disturbance in dementia is one of the severe conditions. Various types of mental disorders are dementia, Alzheimer’s disease, vascular dementia, frontotemporal dementia, and dementia with lewy bodies. Other dementias include Korsakoff Syndrome, Parkinson’s disease, Huntington’s disease, HIV dementia, and mixed dementia.
Some digital tools and apps provide self-management, monitoring, skill development, and other treatments for mental health that could enhance mood and behavior. Further research is required on the effects of technology on the positive and negative aspects of brain health in order to understand the mechanisms and underlying causal links. Mental health concerns are both common and undertreated. In the U.S., fewer than half of individuals who are in need of mental health treatment receive care.
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Increase in Usage of Technologically Driven Gadgets to Augment Global Market
Usage of technological gadgets is increasing at an unprecedented rate across the world. Currently, not only adults, but children are also increasingly using technological gadgets. The usage of technologically advanced gadgets has increased rapidly especially among adolescents. This could result in health issues and technology addiction. The technology-dependent global population is constantly adopting an unhealthy and sedentary lifestyle, which is putting them at the risk of developing severe diseases and mental disorders. According to the U.S. Centers for Disease Control and Prevention, an average child spends about eight hours a day watching electronic screens. Excessive usage of electronic gadgets in children or teenagers could result in psychological disorders such as attention deficit hyperactivity disorder (ADHD), myopia, and insomnia.
According to the World Bank, around 1 billion people suffer from mental health conditions such as mild cognitive impairments, dyslexia, attention deficits, and Alzheimer’s disease. Most adults use the Internet daily, and nearly one in four report being online most of the time. Neuroscientists have begun focusing on how digital technology could be changing our brains and behavior because of this transformation to the online world. Thus, increase in usage of advanced gadgets is driving the global digital brain health market.
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Rise in Prevalence of Brain Diseases to Propel Global Digital Brain Health Market
According to the WHO, one in every eight people (970 million people across the world) was living with a mental disorder such as anxiety and depressive disorder in 2019. As per digital brain health market analysis, the number of people with anxiety and depressive disorders increased significantly in 2020 due to the COVID-19 pandemic. Mental disorders involve significant disturbances in thinking, emotions, or behavior. Various types of disorders include post-traumatic stress disorder (PTSD) and schizophrenia. According to the WHO, schizophrenia affects around 24 million people, or one in 300 people, globally. People suffering from schizophrenia have life expectancy 10 years to 20 years below that of the general population.
Epilepsy is another type of chronic non-communicable disease of the brain that affects people of all ages. According to the WHO, around 50 million people globally have epilepsy. This makes it one of the most common neurological diseases in the world. Around 80% of the people with epilepsy live in low and middle income countries. Thus, rise in prevalence of brain conditions and diseases is boosting the global digital brain health market.
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Availability of Specialized Care Fueling Clinical Functionality Segment
In terms of functionality, the clinical functionality segment dominated the global market in 2021. The clinical functionality segment has been split into electronic health records (EHR), clinical decision support (CDS), care plans/health management, E-prescribing, telehealth, and others. A patient can avail specialized care through telehealth, which is especially helpful to monitor and improve ongoing health issues such as medication changes or chronic health conditions. Electronic health records (EHR) is a digital version of a patient’s paper. EHRs are patient-centered records, which make information available instantly and securely to authorized users.
Growth in Usage of Mental Health Apps Bolstering Software Segment
Based on component, the global digital brain health market has been bifurcated into software and devices. The software segment is expected to grow at a higher CAGR during the forecast period. This can be ascribed to the rise in usage of mental health apps. According to the European Connected Health Alliance, more than 380,000 health apps are available for Apple and Android operating systems; around 20,000 of these address mental health.
Rise in Number of Mental Health-related Consultations Driving Hospitals Segment
In terms of end-user, the global digital brain health market has been divided into hospitals, specialty clinics, and others. The hospitals segment accounted for the largest global digital brain health market share in 2021. Rise in number of neurological surgeries and mental health related consultations are driving the hospitals segment.
Regional Analysis of Digital Brain Health Market
North America accounted for significant share of the global digital brain health market in 2021. The market in the region is likely to grow at a rapid pace from 2022 to 2031, owing to the high rate of adoption of mental health apps. According to the National Institute of Mental Health, around 52.9 million adults in the U.S live with mental illness. In 2020, an estimated 14.2 million adults aged 18 or older in the country had serious mental illness. The prevalence of serious mental illness was higher in females than in males.
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The market in Asia Pacific is likely to grow at a high CAGR from 2022 to 2031. Increase in mental health awareness campaigns, growth in interest of NGOs in mental health, and surge in investments are propelling the digital brain health market in the region. According to the 2018 National Survey, one in seven people in Singapore experienced mental health condition. As per the WHO, India accounts for nearly 15% of the global mental, neurological, and substance abuse disorder burden. A meta-analysis of community surveys estimates that the prevalence of depression and anxiety could be up to 33 per 1,000 persons. Thus, increase in usage of brain health supplements is expected to drive the market in Asia Pacific in the near future.
Analysis of Key Players in Global Digital Brain Health Market
The global digital brain health market is fragmented, with the presence of large number of local as well as international players. Expansion of product portfolio and mergers & acquisitions are the key strategies adopted by the prominent players. Leading players in the global digital brain health market are Cerner Corporation (Oracle), Core Solutions, Inc., Holmusk, IBM, Netsmart Technologies, Inc., NXGN Management, LLC, Qualifacts Systems, Inc., Spring Care, Inc., The Echo Group, Medibio, and Linus Health.
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