October 10th is celebrated as World Mental Health Day to raise awareness of mental health issues and promote mental wellness. This year’s theme is “Mental health is a universal right.”
According to the World Health Organisation (WHO), the number of people living with mental health issues in 2019 was 970 million. After the pandemic, this number has increased by ~30%.
There is a need to improve the mental wellness of people worldwide, and healthtech startups are at the forefront to bring this revolution to life. Mental health startups are using a variety of approaches, including online therapy, artificial intelligence, and virtual reality, to help people improve their mental health.
In this article, we discuss how healthtech startups are rapidly changing the mental health landscape and look at 5 innovative startups leading the mental wellness way.
How healthtech startups are redefining mental wellness?
Making mental healthcare more accessible and affordable
Traditional mental health care can be expensive and inaccessible, especially for people in rural areas or with limited insurance coverage. New-age startups are bridging this gap by providing online therapy and other mental health services at a fraction of the cost of traditional care.
Developing new and innovative ways to deliver mental health care
With the help of technology, mental health startups are changing the way mental health care looks. For instance, some startups offer AI-powered chatbots to provide emotional support and guidance. A few others are using virtual reality to create immersive experiences to manage anxiety and stress.
Empowering people to proactively take care of their mental health
Healthtech startups are developing tools and resources to educate and empower people to take control of their mental health. For example, some startups have mood-tracking and journaling features to help users identify their emotional patterns. A few others have mindfulness and meditation apps to improve overall mental well-being.
5 innovative healthtech startups shaping the future of mental health
#1 Wysa
Wysa is an AI-powered mental health platform revolutionising mental health care. Its core feature is a clinically validated AI chatbot that offers an anonymous, unfiltered, non-judgemental space for users to express their thoughts and feelings. The chatbot also provides users with evidence-based support and guidance.
The startup offers a variety of features, including
- Mood tracking
- Meditation and mindfulness exercises
- Cognitive Behaviour Therapy (CBT) tools
- Peer support groups/community
- Access to therapists and coaches
- Wysa is available as a freemium web and mobile app.
#2 MindPeers
MindPeers combines evidence-based science and technology to improve mental resilience. The mental health platform is free to use, and has a premium subscription offering additional features. You can use it on the web or mobile app.
MindPeers offers several features, like:
- Mental resilience assessment
- Access to therapists and courses
- Neuroscience games
- Community workshops and journaling sessions
- Anonymous space to vent your feelings
- Online journaling
- Mindshorts and insights
#3 Felicity
Felicity is a mental health platform that offers online therapy and counselling services. Based on your mental health test, major concerns and preferences (time, language, etc.), Felicity matches you with a counselling therapist.
The startup offers:
- Access to licensed and verified therapists
- Mood journal
- Mental health care resources and guides
- Breathing exercises and meditation
- Discussion forum with therapists and community
#4 XR Health
XR Health combines therapy with virtual reality (VR) to provide drug-free personalised mental health treatment. Its cutting-edge VR headset creates an immersive, non-confronting experience that de-stresses your nervous system and improves mental well-being.
The startup offers:
- Personalised care plan, regularly updated based on your progress
- VR headset for treatment
- Online video consultations with therapists
- In-app text-based support from therapists
- Drug-free mental health treatment
#5 Calm
Calm is a mental well-being app that helps users relax and destress through guided meditations, sleep stories and nature sounds. It is a subscription-based app combining audio with technology to make meditation easy and accessible.
The mental health company offers:
- Library of meditations and sleep stories for kids
- A community forum
- Mood tracker
- Resources and guides for mental wellbeing
Mental wellness is the need of the hour
For decades, mental health was a taboo topic and wasn’t openly discussed. Covid-19 brought it to the limelight, emphasising the impact of mental health on overall health and wellbeing. Since then, several startups have entered the rapidly growing mental health space.
With the global mental health market poised to grow at a CAGR of 3.5% and reach USD 526 billion by 2030, these startups have huge opportunities. Adding AI to the mix, we can expect even better mental health tools at our disposal in the near future.
