Benefits of babywearing for moms dealing with mental illness and their babies might be drawn from some non-babywearing research. Research focused on the therapeutic benefits of babywearing is lacking. Do you think babywearing is a type of touch therapy? Two links to available research:
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© Robyn Miller and Therapeutic Babywearing, 2014.
Therapeutic Babywearing (c) 
I do believe that babywearing can be a form of touch therapy. Maybe even a form of touch therapy easier for a depressed caregiver to accept! That’s not even getting into the idea that touch is really important in fostering secure infant-parental attachments which can be difficult to achive when a parent suffers from depression.