Why Investors All Over the World are Interested in the U.S.-Based Mental Illness & Health Startups

This blog embraces information for mental illness and health startups. Herein we have covered information on why investors across the world are interested in the U.S.-based mental health startups and what are challenges of the mental illness and health industry. Check out how mental illness startups can solve these challenges through mental health apps development.

The term “mental stress” is now becoming a “mental disorder.”

In the fast pace economy, everyone is running after better livelihood & are neglecting mental peace. According to the World Health Organization, good mental health allows an individual to realize their abilities, deal with normal stresses of life, increase work productivity, and make a contribution to their communities.

It has become a raging problem in the U.S.  It is influenced by life experiences and various biological and psychological factors. Our social well-being depends majorly on inner health status.

According to Mental Health America, the stats show the devastation the mental illness has caused to the U.S. population:

  • More than 50% of adults are facing mental illness, but aren’t receiving any treatment.
  • 15% of men and 30% of women are suffering from mental illness, while 80% of them do not receive treatment.
  • Since 2008, suicide has been the 10th most common death in the overall death rate report.

The mental health epidemic is real. 18.5 percent of Americans will suffer from mental illness this year; 4 percent of them will suffer so acutely that it will substantially limit their ability to living.

That means it is possible you or someone you know is suffering right now and could need support. The most common expressions of mental health disorder (anxiety, depression, substance abuse, and imposter syndrome) are mostly addressable through individual behavior.

Let’s look at some of the major challenges faced by the mental health industry.

3 Challenges Majorly Faced by Mental Illness & Health Industry in the U.S.

#1 Financial Problems and Inadequate Mental Illness Resources

There are people who are lacking the benefits of medical policies issued by the government. And thus, they are not able to afford some cash for treatment. There are nearly one in five U.S. adults who are with mental illness; between 4 to 5% of U.S. adults suffer from a serious mental illness.

Because of inadequate resources, some states have a few as one mental health worker for every 1000 people. This, in itself, is a big constraint in increasing the mental illness ratio.

Being a mental illness and health startup, you need to meet the requirement of staff, with a viable fee, affordable to almost everyone. If we practically see, this is only achievable with the mental health app development. The apps do not require a particular setup, lights, fans, and other space necessity. The free health apps can be a boon for your business and for people too, for accessing the health-related queries anytime they want, with less in-app charges.

#2 Hesitation With the Experts

People are shy and hesitate to share their health information with expert doctors. All are not comfortable in meeting their doctors, the challenge is how to bring these people to the doctors? The best alternative which builds the bridge between two is the mindfulness apps. These health and wellness apps can be the most secure platform for the users to avail the consultation through messaging.

These challenges can be overcome by mental health app development. These self-care apps can become support for mental illness patients. Firstly, they come handy in the form of smartphones. Secondly, a patient can easily access a particular doctor through message or video call features according to his convenience. The charges of downloading a purchased app or in-app subscription are very much convenient than the actual consultation fees.

Thus, apps work better than the physical consultations with doctors in this digital era of obtaining everything just a tap away.

#3 Treatment Provided by the Doctors are Not Comfortable

There are certain treatments that a patient is not ready to go for. Ultimately what happens is, they change doctors, which ends up in wastage of time and money. The easy approach to this challenge is mental health app development. The biggest reason to develop a wellness app solution for the U.S. population is providing all the health services under one roof.

Here that roof is our mobile app development. Patients can meet their trusted doctors, opt for online treatments which they find convenient, and they can schedule the appointment as per their availability.

Mental health apps development can change the situation of the U.S. mental illness problem. This is an opportunity for investors to invest in the growing niche of wellness apps. The stats will prove the scope of such healthcare apps. The U.S. is spending a humongous amount of expenditure on mental health services. The population is aware of their state of mind but is afraid, or have no time to visit clinics. Your app development for self-care can be a disruption in the healthcare industry.

mental health apps development

Image Credit: statista.com  

Now, for instance, let us look at some of the famous apps, which have made people’s mental health somewhat better.

Mental Health Apps Development Giants:

1. Talkspace: Online Therapy App

Talkspace app was founded back in 2012 with an intention to make therapy accessible to as many people as possible. The online therapy app allows users to pay subscription fees for unlimited messaging.

The company has partnered with insurance providers to offer Talkspace services to its members as part of commercial business.

Currently, Talkspace connects over 1,000,000 users with licensed therapists and has announced a $50 million Series D.

There is a lot more exploration to be done in the health sector, which can be easily done with the help of such mental health mobile apps.

2. Calm: Sleep and Meditation App

The Calm app was found back in 2012 and is the most downloaded meditation app in the world. The company says that it has over 40 million downloads worldwide with more than one million paying subscribers.

The sleep and meditation app boasts over 1,000,000 users. It has officially become a unicorn in February with an $88 million Series B.

Calm app has notable features that meditation app should keep in mind like meditation products, including books, sleep stories, health & meditation videos. The app features both meditation tools and sleeps aids.

3. Feel: Monitor Emotional State

World’s first emotion sensor and mental health advisor feels an individual’s emotions through a “wearable.” It announces a seed round in late 2018.

The app is all about monitoring and managing emotions. Through the app, it shows the whole day’s emotional breakdowns. Such apps help people to control and train their minds before they get damaged.  

Technology is highly consumed to help mental illness eradication. These wellness apps are excellent examples for your mental health and fitness startups to actually gear up your business through online apps.

How can investing in mental illness be profitable

There are thousands of people out here endangered with the mental illness. According to statista.com, the U.S. is noticing a number of suicides in college students due to not able to receive mental health services.

mental health apps development

Image Credit: statista.com

There is an outrageous need for such mental health apps development to stop the death rate and increase the life expectancy for the U.S.

According to another statista.com report, there are majorly many jobs which are stressful for their population.

mental health apps development

Image Credit: statista.com

To manage such a huge job stress ratio, there has to be more than one doctor who can be available 24/7. Through your mental health apps development, it will become essential for people to have the following:

  • Have access doctors, therapists, psychologists anytime
  • A convenient way to book appointment or scheduling for patients
  • Large database from where they can select the best treatments
  • Tracking progress through health charts

You can definitely rope into investing for mental health apps development. We are a leading Android app development company, offering a range of Android app development services to target your niche. In fact, we have already helped over 1500 enterprises and startups to optimize their business through mobile apps.

In case, if you have any query related to mental health app development cost, Indian app developers cost, how to hire mobile app developers for mental health app development or what is the app development timeline, fill our contact us form. We will revert to you shortly. The consultation is absolutely free.

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This page was last edited on June 7th, 2019, at 8:51.
 
 

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