Mental Health Trends: Market Maps, Opportunities & Monetization
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Unlocking access to mental healthcare
As a consumer, getting the help you need to overcome stress, anxiety, depression, and bipolar disorder is easier than ever before. You can find online therapists using BetterHelp, get depression medicines delivered through Ro Mind, video chat with psychiatrists using Talkiatry, or find peer support via Togetherall.
New startups are tackling mental health issues through (1) unbundling of healthcare, (2) unlocking accessibility and affordability, (3) building an integrated mental healthcare ecosystem, and (4) enterprisation of consumer services.
We’ll examine consumer-facing mental health platforms — and reveal exciting opportunities to monetize and win in this space.
🧠 8 mental health market trends
(1) VC funding in the mental health space is exploding:
Brave Health uses data-driven, evidence-based assessment to match users to the right providers and treatment.
BetterHelp and DoMental match therapists with patients through virtual platforms.
(🔒 Full version) +5 more well-defined market needs in the space. Solving the right problems will help you build something people want:
🔑 (3/7) How to use software to lower the costs of mental healthcare? (4 company examples)
🔑 (4/7) Which sub-sector is not obvious but has massive market needs? (3 company examples)
🔑 (5/7) How to solve mental health crisis using online communities? (2 company examples)
🔑 (6/7) How to address underserved markets and which target audience to focus on? (5 company examples)
🔑 (7/7) How to position a new mental health platform in emerging markets?
🤑 4 ways to monetize & generate income streams
(1) Direct-to-consumer (D2C):
The revenue source of the D2C model comes from end consumers paying for the services.
Why shifting costs to end-users is better? Companies don’t have to “wait” for insurance companies to provide the best care. As a result, consistent costs and quality control.
Ro Mind costs $85/month that includes online assessment for anxiety and depression, customized treatment plans, prescription medication, ongoing check-ins, and self-guided virtual sessions.
Cerebral charges users an $85/month subscription for assessments, video/phone appointments with therapists, ongoing counseling, and medication delivery.
(🔒 Full version) +3 more business models and revenue sources implemented by market players:
🚀 8 predictions, use cases & untapped opportunities:
(1) API-driven mental healthcare:
The global healthcare API market is estimated to reach USD 351.68 million by 2028.
Solutions that provide better data flow across the mental healthcare ecosystem will increase workflow productivity and fill the gap for “low code” automation.
Use cases include: (1) integrate wearable data and share with practitioners for precise treatment (2) help clinicians streamline appointments, payments, and medical records (3) help insurance providers work with businesses.
Kintsugi’s voice biomarker API provides practitioners with real-time patients’ mental health scoring and integrates across clinical call centers, telehealth platforms, and remote patient monitoring apps.
(2) Decentralized clinic model:
Consumer adoption in telehealth has increased 35x since COVID-19, signaling the demand for accessible virtual care, assessment, and treatment.
More solutions are needed to help clinicians “decentralize” their practices, and bypass dependency on authorities, protocols, institutions, and intermediaries.
Use cases include: (1) prescription administration (2) clinical assessment (3) data verification (4) insurance claim.
Journey takes care of the pharmacology side and allows psychotherapists to offer legal ketamine therapy treatments.
(🔒 Full version) +6 more untapped market needs & future market trends to watch:
🔑 (3/8) How can mental health apps monetize better using a data-driven model? (2 company examples)
🔑 (4/8) The future of mental health treatment is “no pills”. How exactly emerging players are tapping into this space? (3 company examples)
🔑 (5/8) What product strategy can be applied to increase precision in diagnosis and treatment? (3 company examples)
🔑 (6/8) How to build the future of community-based mental health platforms? (2 company examples)
🔑 (7/8) What are the niche categories to consider when creating mental health solutions? (3 company examples)
🔑 (8/8) How to create new products by solving adjacent problems in the market? (2 company examples)