1. Problem Statement:

It is observed that, despite high demand in the Indian mental health segment, the conversion rate from interested individuals to paying customers is exceptionally low.

Traffic to lead conversion: With 50,000 visits per month, we generate approximately 10,000 leads, resulting in a lead generation rate of 20%.
Lead to sales conversion: Out of the 10,000 leads, only 100 translate into sales per month, indicating a conversion rate of around 1%

This may be influenced by various factors such as stigma, affordability concerns, shortages in service providers, and misconceptions regarding therapy and technology. Alternatively, it's plausible that existing solutions may contain inherent issues. Therefore, conducting thorough market research is imperative to identify the root cause.

2. Mental Health Market Space:

The mental health space is spread across a wide spectrum, from simple things like improving mindfulness to requiring professional medical help. Here is a quick overview of the space:

Regular Wellness	Advanced Wellness	Initial Support	Early Intervention	Advanced Intervention
Mindfulness	Sleep Issues	Anxiety	Depression	Chronic Depressions
Meditation	Focus Issues	Stress	Panic/Mood Disorders	Schizophrenia
Productivity	Low Attention	Loneliness	Eat Disorders	Addiction
		Fear/ Grief	ADHD	PTSD

MindPeers' mental strength research study in India found:
- Over 33% of 72,500 respondents suffer from adjustment problems.
- 70% of participants reported high stress levels.
A 2021 report highlighted mental health statistics:
- 33% of Indian men are diagnosed with depression.
- 30% of Indian women experience anxiety.
The current Indian market size for mental health services is approximately $3 billion with an expected growth at ~2% CAGR.

Note: The estimates are based on the numbers from resources and the extrapolation of the market space in regular wellness and advanced wellness.

Resources: Link 1 - Statista Link 2 - Economic Times Link 3 - Business world Link 4- Statista

2.1. Mental health market share in India:

Feature	Wysa	MindPeers	1to1help.net	Therapize India	Veda Rehab & Wellness	Rocket Health	Your dost
Revenue (in $ Mn)	29.2	0.2	4.48	NA	~15	0.023	2.45
Total Users	11 Mn	0.35 Mn	2.7 Mn	2.5 Mn	Not in Public Domain	1m	3m
Paid Users	366 k	4 k	13 k	7.8 k	Not in Public Domain	11k	42k
Percent of Paid Users	3.33%	1.1%	0.4%	0.3%	NA	1.1%	1.4%

There are other notable US-based players in the Indian Market such as Tricog, Amaha, Calm, and Headspace having a similar percentage conversion ratio.

Based on the data and research provided, it's apparent that the industry-wide average conversion rate is ~1%. This suggests that the low conversion rate is a widespread issue across the industry, affirming that our understanding of the problem space is accurate and aligned with industry trends, however, we should focus on solutions and try to address the core issues of the customer.

Resource: Tracxn & respective websites

3. Objective:

Building a user-centric mental well-being ecosystem that empowers individuals with personalized assistance and simplified access to effective & affordable solutions**.**