The Frontline Needs Startups: New Insights on the Growing Demand for Mental Health Services
Source: Accenture’s Breakthrough Behavioral Health Access Report
The Signal: Back in April, we wrote about how employers were embracing mental health, with 95% of those surveyed planning to offer virtual mental health services to employees by 2022. We pointed to several opportunities, including PTSD treatment apps, employee assistance programs, and infrastructure for virtual mental health providers.
Since Then: Severe economic uncertainty and widespread social unrest have compounded the stress of the global pandemic. The UN released a dossier on COVID-19’s impact on mental health worldwide, and research from Accenture claimed that by 2025 the US alone will be facing a shortage of 250k mental health practitioners.
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The signal: Since killing the headphone jack, Apple has graced the world with AirPods, which did an estimated 60m units in 2019. That means AirPods alone are bringing in approx ~$10b in revenue, more than Twitter, Shopify, or Spotify, to name a few popular tech giants. Opportunity lies in Apple opening up SiriOS or the wave of iPhone accessories (including cases, cleaning kits, hooks, and keychains) which have shown “hockey stick” growth alongside their hardware predecessor.
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