According to Coherent Market Insights, the global online therapy services market size is estimated to be valued at USD 9.68 billion in 2024 and is expected to surpass USD 24.80 billion by 2031, growing at a CAGR of 14.4% from 2024 to 2031.
The growth of
the Online Therapy Services Market is primarily driven by the increasing acceptance
of telehealth services. This is owing to their convenience and reduced costs.
Telehealth offers flexible online sessions from the comfort of one’s home at
affordable prices without additional costs. Additional cost includes childcare
or commuting. It provides 24/7 access to licensed therapists which is not
possible through traditional in-person sessions.
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Moreover, the
onset of COVID-19 pandemic has further accelerated the demand for telehealth. People
opted for remote modes of treatment to adhere to social distancing guidelines.
Telemedicine services saw a global surge as patients and healthcare providers
sought safer alternatives to in-person visits.
Market Trends
The market is
witnessing growing adoption of smartphone-based therapy applications or mental
health apps. Mental health apps provide self-help tools, mood trackers, and
facilitate online counselling sessions through chat, video, or voice calls. Key
players are extensively focusing on developing such mobile applications to
expand their consumer reach in the competitive digital age. For instance,
TalkSpace offers HIPAA compliant video, voice, and messaging therapy through
mobile apps and web browsers.
Leading therapy
service providers are strengthening their online programs and solutions by
making them more evidence-based and clinically tested. They are conducting
randomized trials to demonstrate the efficacy of digital therapeutic tools.
This trend is expected to boost consumers’ confidence in online therapy.
Online Therapy Services Market Report
Coverage
Report
Coverage Details Market
Revenue in 2024 $9.68
billion Estimated
Value by 2031 $24.80
billion Growth
Rate Poised
to grow at a CAGR of 14.4% Historical
Data 2019–2023 Forecast
Period 2024–2031 Forecast
Units Value
(USD Million/Billion) Report
Coverage Revenue
Forecast, Competitive Landscape, Growth Factors, and Trends Segments
Covered By
Type, By Conditions, By End User Geographies
Covered North
America, Europe, Asia Pacific, and Rest of World Growth
Drivers •
Rising prevalence of mental health issues •
Growing acceptance of virtual healthcare services Restraints
& Challenges •
Privacy and security concerns •
Lack of personal connect with therapists
Market
Opportunities
Cognitive
behavioral therapy (CBT) segment is estimated to hold the largest market share
of around 35% in 2024. CBT aims to help patients understand how thoughts and
beliefs influence behaviors and moods. It encourages patients to identify and
change negative thought patterns that may be contributing to depression,
anxiety, and maladaptive behaviors.
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Online CBT
allows for structured therapy programs that patients can follow on their own
time. It is done through video sessions and assigned tasks or activities
between sessions. The self-guided nature and flexibility of online CBT programs
help address barriers like lack of provider availability or stigma associated
with in-person therapy.
Psychodynamic
therapy segment is expected to gain around 15% market share by 2031. This
therapy focuses on understanding how childhood experiences and unconscious
motives can influence present-day behaviors, moods, and relationships.
Online
psychodynamic therapy allows therapists to help patients gain deeper
self-awareness. It is done through discussion and interpretation of feelings,
dreams, and relationship patterns..
Key Market
Takeaways The online
therapy services market is anticipated to witness a CAGR of 14.4% during the
forecast period 2024-2031. This is owing to the increasing prevalence of mental
health issues and continued stigma reduction around seeking therapy.
On the basis of
type, cognitive behavioral therapy segment is expected to account for over 30%
of the market share in 2024. This is due to its structured self-guided nature
that facilitates online delivery.
On the basis of
application, the residential use segment holds the largest share of around 70% in
2024. This is due to individuals seeking mental health support from the comfort
of their own homes.
By industry
vertical, the hospitals segment holds the major share during the forecast
period. This is due to hospital partnerships with online therapy providers for
referrals and accessibility of care.
North America is
expected to hold a dominant position over the forecast period. The U.S. is
expected to account for over 60% share in 2024. This is due to favorable
reimbursement policies and widespread provider availability and marketing.
Competitor
Insights - ThriveTalk - TalkSpace - BetterHelp - Breakthrough - MDLive - ReGain
Recent
Development
In October 2024,
Oak Tree Practice announced the introduction of online therapy services. These
service will help in enhancing accessibility and will support mental health.
In September
2024, Talkspace formed a joint agreement with Amazon health services. It is
done to increase awareness and reach of its mental health care services on
Amazon.com.
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Detailed Segmentation-
By Type By Conditions By End User By Region About Us:
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