4 factors expected to grow mental health AI market value to $11B by 2030

The artificial intelligence mental healthcare market is projected to be valued at $11.4 billion by 2030, growing at a compounded annual rate of 37.2 percent from 2023 to 2030, according to a report from Cognitive Market Research. 

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The mental health AI market was valued at $910.6 million in 2022. Here are four factors driving market growth:

1. The growing prevalence of suicide and suicidality. 

2. An increased awareness of mental illness. 

3. The development of new technology in healthcare.

4. The increasing use of machine learning and deep learning artificial intelligence to predict mental health crises, identify symptoms of poor mental health, diagnose mental illnesses and develop treatment plans. 

At the Becker's Fall Behavioral Health Summit, taking place November 4–5 in Chicago, behavioral health leaders and executives will explore strategies for expanding access to care, integrating services, addressing workforce challenges and leveraging innovation to improve outcomes across the behavioral health continuum. Apply for complimentary registration now.

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Caring for the caregivers: How health systems are building benefits strategies with mental health at the core

Wednesday, August 12
1:00 PM - 2:00 PM CDT

Presenters: Mark DeFee, Lyra HealthDeborah Visconi, Bergen New Bridge Medical CenterSuneel Kumar Parvathareddy, MD, Advocate/Atrium Health Wilkes Medical CenterEric Parmenter, Quantum HealthMary Beth Lardazabal, DO, DFAPA, Allina Health

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