Online/Virtual Therapy Market

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Online/Virtual Mental Health Therapy Market

Available statistics only suggest that the size of the global market is somewhere between $259.9 million and $2.60 billion. Sadly, the size and projected growth of the market are behind paywalls. The broader global telemental health market is expected to grow at a compound annual growth rate (CAGR) of 24.65% during the period 2019-2026.

HELPFUL FINDINGS

GLOBAL ONLINE MENTAL HEALTH THERAPY MARKET
  • The size of the global online or virtual mental health therapy market must be smaller than $2.60 billion, the size of the global telemental health market in 2018.
  • The global telemental health market, as defined by Data Bridge Market Research, covers telepsychology, telepsychiatry, and telebehavioral health. It must be broader than the global online mental health therapy market because it covers not only therapy but other telehealth services such as remote patient monitoring, remote diagnosis, and remote treatment as well.
  • NEJM Catalyst, a publication specializing in health care delivery innovations, defines telehealth as "the delivery and facilitation of health and health-related services including medical care, provider and patient education, health information services, and self-care via telecommunications and digital communication technologies."
  • Data Bridge Market Research lists TalkSpace, MDLive, and Teladoc (which acquired BetterHelp) as some of the key players in the global telemental health market. These three companies all offer online therapy services, according to HTF Market Intelligence and LP Information.
  • Online therapy's share of the telemental health market, unfortunately, could not be located in the public domain.
  • The revenues of TalkSpace, BetterHelp, MDLive, Breakthrough, and ThriveTalk, which are all key players in the global online mental health therapy market, are estimated at $124.7 million, $60 million, $46 million, $24.6 million, and $4.6 million, respectively. These figures suggest that the size of the global online mental health therapy market must be larger than $259.9 million, the sum of these figures.
  • The market share of any of these companies could not be located in the public domain as well.
  • The global telemental health market is projected to grow at a CAGR of 24.65% during the period 2019-2026.
UNITED STATES ONLINE MENTAL HEALTH THERAPY MARKET
  • The size of the United States online or virtual mental health therapy market must be smaller than $405 million, the estimated size of the United States telemental health market in 2018.
  • The United States telemental health market is projected to grow at a CAGR of 22.5% during the period 2016-2021.
PAYWALLED REPORTS
  • Both HTF Market Intelligence and LP Information have released reports on the global online therapy services market. The way these two firms have described and segmented this market suggests that the global online therapy services market is equivalent to the global online or virtual mental health therapy market.
  • Both HTF Market Intelligence and LP Information segment the market, by type, into cognitive behavioral therapy, psychodynamic therapy, and personal centered therapy, and by application, into residential use and commercial use.
  • Both HTF Market Intelligence and LP Information cite the following companies as the major players in the market: TalkSpace, BetterHelp, ThriveTalk, Breakthrough, ReGain, and MDLive.
  • Though the reports contain both the market size and the projected market growth, the actual values are sadly behind paywalls.
  • The articles published by Forbes and Fast Company confirm that BetterHelp and TalkSpace lead the global online or virtual mental health therapy market.

RESEARCH STRATEGY

In finding the size and projected growth of the global or United States online or virtual mental health therapy market, we employed a number of strategies. First, to determine if the desired information is readily available in the public domain, we checked if reports or articles about the market have been published recently. We found that market research firms HTF Market Intelligence and LP Information and media outlets Forbes and Fast Company have covered the market to some extent, so we thoroughly reviewed the information they have published. Both HTF Market Intelligence and LP Information have released reports on the global online therapy services market, and based on the way the two market research firms have described this market, it appears the reports provide both the size and projected growth of the global online or virtual mental health therapy market. Unfortunately, like most industry reports that were published by market research firms, both reports are paywalled. The articles published by Forbes and Fast Company also do not provide the desired data, but they confirm that BetterHelp and TalkSpace are the frontrunners in the online mental health therapy market.

Second, since the desired details could not be located in the public domain, we attempted to triangulate the size by performing a top-down analysis. We researched broader mental health service markets and checked if online mental health therapy's share of any of these markets is publicly available. Reports and articles on the telemental health market, the digital mental health therapeutics market, and the broader behavioral and mental health care software and services market, such as those published by Data Bridge Market Research, Business Insider, Frost & Sullivan, Observer, and Grand View Research, were consulted, as all these markets encompass the smaller online mental health therapy market. This strategy led us to the sizes of the global telemental health market, the United States telemental health market, and the global behavioral and mental health care software and services market; however, we were unable to find online mental health therapy's share of any of these markets, and were therefore unable to triangulate the desired data.

Third, we attempted to triangulate the size of the global online mental health therapy market by determining the revenue and share of any of the key market players. We figured that if we could find both the revenue and market share of at least one key player, we could compute the size of the global online mental health therapy market by dividing the company revenue by the company market share. Since both HTF Market Intelligence and LP Information identified ThriveTalk, BetterHelp, ReGain, TalkSpace, Breakthrough, and MDLive as the major players in the global online therapy market, we looked for the revenue and market share of these companies. After searching through news articles such as those published by Seeking Alpha, and business information sites such as Hoovers and ZoomInfo, we only learned the estimated revenues of BetterHelp, TalkSpace, MDLive, Breakthrough, and ThriveTalk, and the sum of these revenues as computed below. The market share of any of these companies is sadly not available in the public domain.


All in all, the desired market size and projected market growth are only available in paywalled reports, and we could only provide a range for the size of the global online mental health therapy market.
Sources
Sources