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Mental Health Technology: Unlocked by AI - The industry is growing by 11% every year. Future demand will push it further...



Mental health technology has emerged as a critical player in addressing mental health needs globally. From mobile apps to artificial intelligence, new technologies are providing unprecedented access to mental health resources, breaking down barriers to treatment, and helping individuals manage their well-being more effectively. This article explores the ways in which technology is transforming mental health care, the benefits and limitations, and what the future holds for this rapidly evolving field. 


Mental health challenges affect millions of people worldwide. According to the World Health Organisation, one in four people will experience a mental or neurological disorder at some point in their lives. According to Jodie Cariss, Founder and CEO of Self Space, in the UK alone there are currently 1.2 million people on the NHS waiting lists for mental health care. The numbers for the US are also substantial, and the large majority of the public is of the view that there is an active mental health crisis. 



Despite its high prevalence, barriers such as stigma, cost, and accessibility still prevent many from seeking help. Technological innovations are stepping in to fill these gaps. Key technologies, including mental health apps, teletherapy platforms, and artificial intelligence tools, are making mental health support more accessible and affordable. 



By: Shirley Mabasa

 

Evidence-based support for mental health applications


Despite the evidence supporting the need for mental health applications, less than 5% of the available apps were found to have been….. tested…. 


Several studies have been published in the past highlighting the efficacy, or lack thereof, of these apps' user engagement. 


The University of Oxford team conducted a sub-study within a larger trial to assess the acceptability and feasibility of mental health apps for vulnerable populations. The study found that young people from marginalised and underserved groups face unique challenges in accessing, engaging with, and benefiting from these apps. 


A study published in the Journal of Medical Internet Research found that mental health apps have been shown to reduce symptoms of anxiety and depression, especially in individuals with mild to moderate conditions. This finding suggests that apps can be effective for self-managed care but may not fully replace the benefits of traditional therapy, particularly for those with severe conditions. This is supported by another study published in the Journal of Medical Internet Research found that mental health apps can effectively reduce symptoms of anxiety and depression, especially in individuals with mild to moderate conditions.



A systematic review published in Psychiatric Services analysed 40 studies evaluating user engagement with mental health apps. The review found that while many users reported positive experiences regarding usability and satisfaction, engagement levels varied significantly, highlighting the need for standardised assessment tools.


Journal of Psychiatric and Mental Health Nursing study explored user perceptions of mental health mobile apps. The findings indicated that users appreciated the accessibility and convenience of these apps but expressed concerns about privacy and the lack of personalised interaction.


Lastly, AI chatbots, such as Woebot and Wysa, leverage artificial intelligence to guide users through CBT exercises. In clinical studies, these chatbots have shown moderate success in reducing anxiety and depression symptoms. However, as one might expect, bots lack empathy and the ability to understand complex emotions, which is considered a key limitation of these apps.


Mental Health Professionals Embrace Digital Tools Amid Caution


In a 2023 study, the majority indicated they were prepared to use telepsychiatry, with interest peaking during the COVID-19 pandemic before gradually decreasing from 2022. A quarter of respondents expressed concerns about telepsychiatry, primarily due to challenges in accurately assessing patients and technical difficulties. Mobile health tools received positive feedback, with 86% of professionals believing they could aid patients in managing their mental health and 74% willing to recommend these tools. However, 29% had reservations regarding the tools' effectiveness and data security. The study also noted an increasing openness among mental health professionals to adopt new digital technologies, reaching 84% by 2023.




The Expanding Market for Mental Health Tech


The global mental health tech market reached USD 4.32 billion in 2023 and is projected to grow to USD 10.61 billion by 2032, with a CAGR of 10.5% from 2024 to 2032. 


The increasing burden of mental health challenges places a substantial strain on the global economy. Even before the pandemic, poor mental health was estimated to cost the world economy around $2.5 trillion annually, with projections reaching $16 trillion by 2030. Lost productivity due to conditions like anxiety and depression alone accounts for approximately $1 trillion each year. Without decisive action, these economic impacts will persist, reducing consumer spending and workforce productivity across sectors. Given that most governments allocate only a small portion of their health budgets to mental health, there is a clear need for greater investment to enhance the effectiveness and applicability of mental health apps, providing an opportunity for innovation from both app developers and corporations.


With an estimated 10,000 to 20,000 mental health tech applications available for download, choosing a standout option can be challenging. However, for investors eager to get involved in this rapidly expanding market, several promising UK-based startups have recently secured funding to grow their services.



  • Psyomics specialises in AI-driven mental health assessments, Psyomics raised £4 million in June 2024. This funding aims to enhance their AI-informed medical device, Censeo, particularly for assessing children and young people's mental health.


  • Self Space is an on-demand mental health service on the high street, Self Space closed a £2.25 million seed funding round in January 2024. The investment supports the expansion of same-day mental health support across the UK, including the launch of new high street locations and the hiring of additional therapists.


  • Plumm Health is B2B platform providing mental health support to employees, Plumm Health secured over £2.2 million in Series A funding from IW Capital in November 2023. The funds are intended to grow partnerships, sales, and marketing teams and expand operations within the UK and internationally.


  • Voda is a startup that aims to provide accessible mental health support for the LGBTQIA+ community. Voda recently raised £270,000 in pre-seed funding to enhance its app offerings and is likely seeking additional investment to further its mission.




The future of mental health technology is promising. As artificial intelligence and machine learning become more advanced, the ability to detect, diagnose, and even predict mental health challenges will only improve. Moreover, the opportunity to integrate these applications with wearable devices will allow real-time monitoring, providing users and healthcare providers with a more comprehensive picture of mental health. 


The verdict on the true efficacy of mental health tools is still out; however, that rings true for many innovations that venture capital investors have funded. We believe that the next few years will be instrumental in helping to weed out the good from the bad. Watch this space! 

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