Behavioral Health Technology

The mental health app market is projected to be valued at $9.9 billion by 2028, an increase of about 240 percent from 2021's value of $4.1 billion, according to a report by Vantage Market Research.

Measurement-based care has been shown to produce better outcomes than usual standard care, which does not involve measurement. But multiple studies have shown a majority of behavioral health clinicians still do not use measurement-based care.

Text-based mental health support provider HearMe and healthcare staffing firm Ingenovis Health partnered to create a free support system for travel nurses available 24/7.

The mental health software market value is on track to reach $5.6 billion by 2028, led by three industry developments, according to a market research study published Aug. 8. by Facts and Factors.

Abbott's deep brain stimulation device was awarded the FDA's breakthrough device designation for treatment-resistant depression, Abbott said July 27. 

Smitta Patel, MD, a psychiatrist at the UCLA Semel Institute for Neuroscience and Human Behavior, is joining VyTrac Health's medical advisory board. 

Medical technology company Neuronetics will be the exclusive supplier of transcranial magnetic stimulation equipment used in the mental health treatment network of Arkansas-based Alleviant Health, Neuronetics said July 25.

In clinical trials, four in-development psychiatric drugs show promise for treatment of schizophrenia, postpartum depression and major depressive disorder, MDLinx reported July 21.

The FDA has approved Neuronetics' transcranial magnetic stimulation system as a treatment for adults with major depressive disorder, the company said this week.

Wysa, an artificial intelligence digital mental health platform, nabbed $20 million in funding, the company said July 18.