Cognitive Bias Modification (CBM) treatment, driven by the escalating use of smartphones, offers a promising approach to address the rising incidence of anxiety, alcohol use disorder, smoking and other related issues. By targeting cognitive biases through digital interventions, CBM aims to rewire automatic thought patterns, promoting healthier responses to triggers. This technology-driven therapy holds potential in reshaping behaviors and mitigating the adverse effects of these prevalent mental health challenges, capitalizing on the convenience and accessibility offered by smartphone platforms.
According to Coherent Market Insights, The market for Cognitive Bias Modification Treatment estimated at US$ 83.2 million in 2022 and is anticipated to grow at a CAGR of 7.96% from 2023 to 2030 to reach US$ 142.2 million.
Prominent Players in the Cognitive Bias Modification Treatment Industry:
1. Wise Therapeutics:
Founded in 2017, Wise Therapeutics focuses on cognitive bias modification treatment. Headquartered in San Francisco, USA, the company operates globally, offering its services. Specializing in digital therapeutics, Wise Therapeutics leverages AI and behavioural science to address mental health challenges. Recently, the company has expanded to over 15 countries introducing its flagship product “MindShift” which assists individuals in managing anxiety by targeting cognitive biases.
2. Mental Mint:
Established in 2015, Mental Mint is based in London, UK. Operating in multiple countries, Mental Mint provides cognitive bias modification treatment through personal digital interventions. Focused on anxiety and depression, their solutions offer users engaging exercises to restructure negative thought patterns. The company’s latest advancement includes the integration of real time monitoring, enabling users to track their progress and gain insights into their cognitive biases.
3. MindHabits:
Founded in 2007, MindHabits is headquartered in Toronto, Canada. With a prescence in 10 countries, MindHabits specializes in cognitive bias modification treatment through gamified interventions. Their platform promotes emotional well-being by training users to identify and shift cognitive distortions. In a recent update, MindHabits introduced virtual reality modules, enhancing user engagement and immersion in cognitive bias correction exercises.
4. Youper Inc.:
Youper Inc., established in 2016 and based in Palo Alto, USA, operates internationally. Focused on emotional health, the company’s AI-driven platform offers cognitive bias modification treatment for various menatal health conditions. Youper’s unique feature is an AI-powered chatbot that guides users through exercises and conversations. The company’s recent development includes integration with wearable devices, allowing users to track their emotional states and tailor bias modification activities accordingly.
5. Aralus Digital:
Aralus Digital, founded in 2018, is based in Sydney, Australia. The company’s cognitive bias modification solutions are designed to address anxiety and stress. Operating in five countries, Aralus Digital’s programs combine evidence-based techniques with user-friendly interfaces. Their recent market advancement involves partnerships with mental health clinics, enabling therapists to incorporate their digital interventions into treatment plans effectively.
6. Avegen Health:
Founded in 2019, it is based in New York, USA. With a presence in three countries, the company specializes in cognitive bias modification for various mental health disorders. Avegan Health’s solutions emphasize personalized interventions and data-driven insights. Their recent development includes a collaboration with research institutions to validate the effectiveness of their interventions, contributing to the growing body of evidence supporting cognitive bias modification treatments.
*Definition- The cognitive bias modification treatment market pertains to the industry that offers interventions targeting the alteration of automatic cognitive biases for therapeutic purposes.
