Top Mental Health Business Ideas For Startups & Entrepreneurs

Dinesh Thakur

26 Apr 2024

Mental health care, which includes conventional medical treatment and innovative new technologies, is growing exponentially and will soon surpass the trillion-dollar mark. According to Grand View Research, the smart healthcare industry will grow 11.3% from its 2022 valuation of $144.9 billion between 2024 and 2030.

We have compiled a detailed guide on the best mental health business models if you are looking for a profitable mental health business idea in this growing industry. Let's get started.

Mental Health Business Market Size

• The Anxiety and Depression Association of America found that nearly 40 million Americans have anxiety disorders. In developing nations, 75% of mental illness patients do not receive treatment.
• According to a recent study conducted by Acumen Research and Consulting, the global market for mental health apps is projected to reach a value of $3.7 billion by 2027.
• When you consider all of these things, it's not surprising that the demand for mental healthcare keeps going up every year. The global market for mental health apps is expected to grow from $6.19 billion in 2023 to $26.36 billion in 2030.
• Recent statistics show that there are up to 20,000 mental health apps, some of which have millions of users. Statista also reports that 215 thousand US users downloaded the top mental wellness apps between November 3 and 5, 2020.

Types of Mental Health Apps

Here is a list of types of mental health applications

• Stress Management Apps: Research shows that over 65% of people experience stress and anxiety. Despite significant efforts to improve mental health, stress and anxiety continue to be major obstacles for the majority of people around the world. In such a case, developing a stress management app is the best way.
• Mental Disorder Apps: In general, a mental disorder is characterized as a consistent pattern of thinking or behavior that can result in challenges to one's emotional or practical functioning daily. Many apps are developed to connect users with experts who have expertise in mental health conditions. During the process, you will come across gamified self-guided mood training programs available in various apps. This model is an excellent guide for developing an app for mental health.
• Self-Improvement Apps: Self-improvement apps help manage mood swings, promote positivity, and overcome addictions. Due to their soothing music and meditative practices, these apps are great for serious self-reflection. Many people use these apps to relax and assess their mental health.

Top Mental Health Business Ideas for Startups & Entrepreneurs

Finding a profitable business idea for mental health is important to succeed in meeting patients' needs and solving their problems. Numerous business prospects are available in the market for aspiring entrepreneurs, including subscription-based mental health software, mood-tracking apps, online yoga platforms, and many more. Let us delve into the top mental health startup ideas you could consider.

1. Subscription-Based Mental Health Software

With subscription-based platforms leading, the global mental health market could reach $1 trillion by 2030. These platforms offer affordable and convenient mental healthcare options for rural and hectic schedules people. User support includes personalized plans, self-care resources, and live therapy sessions.

Increasing awareness of mental health issues offers an excellent opportunity to invest in and launch subscription-based mental health software. At DITS, we can help you build a subscription based mental health care system available to everyone, no matter where they live or how much money they have.

2. Remote Patient Monitoring App

• According to a report shared by Grand View Research, the worldwide market for remote healthcare is projected to expand at a CAGR of 17% from 2020 to 2028.

Launching a remote patient monitoring application for patients suffering from mental health issues can be a lucrative mental health business idea. With the help of mobile apps, both patients and healthcare providers can keep tabs on health conditions in real time. This not only reduces the need for hospitalizations but also helps to save on costs.

Remote patient monitoring apps offer a variety of helpful features, including medication reminders, detailed information about medications, real-time consultation options, and more. These apps are designed to reduce stress and assist in monitoring health conditions.

3. App for Women’s Well-Being

Developing an app for women's well-being is one of the best mental health startup ideas. You can build an app for menstrual and emotional monitoring, incorporating features to help users find medical professionals and therapists more directly within the app. Women can also get mental health consultations via text and video chat. You can also provide guided meditation to further aid in relaxation and stress reduction.

4. Emotional Wellness Apps

Developing an emotional wellness application is one of the best app ideas for mental health, as it can simplify the management of fluctuating emotions and thoughts while also managing stress. These apps provide valuable resources for individuals to manage anxiety and develop self-awareness of their unique triggers. Applications designed for emotional wellness can assist people stay connected to themselves emotionally by providing calming mindfulness exercises and music.

5. Mental Health Event Platform

Virtual platforms for corporate mental health events offer investors a great opportunity in 2024. These platforms offer health training, workshops, and counseling to hybrid and remote workers. Employees can easily access mental health support due to the convenience of attending from home. Corporate virtual events can be customized to help employees emotionally and mentally. If you are looking to help employees perform well in their corporate life, launching a mental health event platform is a great mental health business idea.

6. Meditation Mobile Apps

Creating a meditation and mindfulness app or website is another profitable business idea for mental health. Users can learn meditation and mindfulness techniques in the meditation app, track progress, and attend guided sessions and live practices. With the meditation app, you can generate revenue through subscriptions, pay-per-session, or corporate mindfulness packages.

7. Online Yoga Platform

Many online and scientific studies claim yoga can help treat mental illness and other mental health issues. Online yoga platforms and apps offer a range of features like yoga ebooks, live group or one-on-one sessions, calming music, and pre-recorded courses, which can be appealing to individuals seeking mental health support. There are a number of apps available in the market offering these services and generating a great revenue doing so. You can also be a part of this thriving market by launching your mental health business today. Connect with DITS today and start your entrepreneurial journey. You're just a click away from getting started.

8. Mental Health GPT Software

Mental health GPT software utilizes the GPT algorithm to provide support for mental health issues. This software, trained on a variety of mental health resources, offers vital resources, information, mental health courses, and expert advice regarding mental health disorders. Building mental health GPT software can be advantageous as it allows tapping into an unexplored market with limited competition.

9. Mood Tracking Apps

Mood-tracking apps track feelings and symptoms simultaneously. To understand users' emotional and mental states, you can ask them to take regular evaluation tests and participate in meditation programs. Notebook features allow users to note down their daily activities and mood changes. Tracking mood swings with a graph or calendar is convenient and easy.

Connect with our experts at Ditstek Innovations and build your mood-tracking app today to tap into the ever-evolving mental health market.

10. Cognitive Behavioral Therapy (CBT) Apps

CBT applications can greatly assist in managing anxiety and depression. The package includes exercises, individual therapy sessions, and tools for setting goals. It can also help users develop mental resilience and enhance their skills in handling negative thoughts. Developing CBT apps can be profitable for starting a mental health business. 

11. Sleep Management App

According to the National Institute of Health, sleep disturbances affect approximately 30% of the global population, while obstructive sleep apnea affects over 25 million Americans.

The most common reasons for this are time constraints, high levels of stress at work, and relationship instability.

As a result, creating an app to help people manage their sleep will be a great business idea for mental health.

12. Self-help Mental Health App

The self-help app industry offers a wide range of choices. Developing patience, building self-assurance, overcoming fears, and managing mental stress are just a few areas that can significantly benefit from this practice. These apps may offer features commonly found in mental health apps, including goal-setting. Additionally, users can access live training sessions with therapists and mentors.

For example, Happify offers activities backed by research, such as guided meditations and games, that assist in managing stress, suppressing negative thoughts, and building resilience.

How To Build A Mental Health App?

When designing a mental health mobile app, prioritize usability and avoid unnecessary features. Learn what you need to start a mental health business. 

1. Target Audience & Platform

First, decide who your mental health app is for and which platform to use. Choose a target audience for your app—children, young adults, seniors, etc. This is essential for understanding and engaging your target audience. After identifying your audience, choose an app platform. Use Android, iOS, or a cross-platform launcher to launch your app.

2. Competitor & Market Research

If you're making a mental health app, research your competitors. Researching the apps that have succeeded in your niche is a good idea. You should also look at unsuccessful apps because you never know what you might learn from them. By analyzing your competitors, you can learn what works and what doesn't in your niche.

3. Employ a Reliable App Development Company

Mobile app development companies employ mental health app developers, UI/UX designers, and market experts who will advise you while always keeping your vision in mind. The company offers cutting-edge technology and industry knowledge.

4. Build an MVP

An MVP is a product's initial iteration that has few features. If the product is viable, it helps to find out. On top of that, with MVP software development, customers can rate your app and suggest features they'd want to see added. Get in touch with a custom software development company if you need assistance bringing your MVP to life.

5. QA Testing

Testing is absolutely crucial when it comes to apps for sensitive topics like mental health. Validate all aspects, including content, user interface, and user experience. Proper testing can improve your service provider's reputation, find more bugs, and reduce development time and cost.

6. Deployment & Maintenance

After extensive testing, your app is ready for users. You should now address user concerns and requests, update to keep users engaged, and track performance with the in-app analytics tools you implemented during development.

Top Mental Health Apps in the Market

• Headspace: Headspace focuses on promoting a healthy and stress-free lifestyle through meditation. Beginners and advanced users can easily navigate and utilize the platform. The app allows individuals to experience increased satisfaction levels at a price they can afford every month.
• Moodkit: It offers a diverse range of activities that uplift your mood. The app's primary objective is to assist users in developing a positive mindset and enhancing their self-awareness abilities, thereby enabling them to lead healthier lives.
• MindShift: This app is designed specifically to assist individuals in managing stressful situations. Because it doesn't cost anything to use, the app has a large user base.
• Happify: Happify is designed to prioritize emotional well-being by reducing stress, anxiety, and negative thinking. A wide range of engaging games, activities, and other stimulating options are available in Happify to keep your mind active.
• Talkspace: Talkspace lets you talk to a mental health professional. Therapists can diagnose and treat a variety of illnesses. User conversation is always confidential. Their extensive training and more than 3000 hours of medical experience speak for themselves.

Expand Your Mental Healthcare Business Ideas with DITS

With the rapid expansion of the mental health care industry, ambitious entrepreneurs now have an incredible opportunity to explore innovative mental health business ideas and select the most effective business strategies for their endeavors.

Before selecting mental health related business ideas, it is crucial to conduct a thorough market analysis and research to make a wise decision.

Strategizing for regulatory compliance and delivering top-notch care is crucial for individuals aspiring to enter the mental health care sector.

Therefore, it is crucial to conduct thorough market research, assemble a strong team of specialists, and leverage appropriate technology to enhance services and optimize operations.

We have a skilled team of custom healthcare software developers specialized in mental health app development. They can help you bring your mental health business ideas to life by creating or enhancing new applications.

FAQs

Is mental healthcare a big market?

According to a report by Grand View Research, the global mental healthc market is expected to grow at a compound annual growth rate (CAGR) of 11.3% during the forecast period of 2023–2030. The market is projected to surpass its 2022 valuation of $144.9B.

What mental health business is the most profitable?

Remote patient monitoring apps, apps for women’s well-being, mood tracking apps, Emotional wellness apps and many more are some of the most profitable business ideas for mental health care.

How much time does it require to develop a mental health app?

Developing a mental health app usually requires a timeframe of three months to a year. This will depend on the complexity and scope of your project.

What are top mental health business ideas?

The top business ideas for mental health are Remote patient monitoring, apps for women well being, emotional wellness app, mood tracking app, sleep management app and many more. Connect with us to discuss your requirements.

How much does it cost to build a mental health app?

Mental health app development cost depends on platform choice, developer location, app features, and other factors. However, the average cost is $35,000–$70,000.