The global mental health market size was US$ 391.3 billion in 2021. The global mental health market is forecast to grow to US$ 551.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 3.9% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
Mental illness or psychotherapeutic conditions are basically caused due to chemical, genetic, and anatomical conditions; or psychological origins such as trauma. Some mental illnesses require phycological intervention, which will drive the mental health market forward.
The growing prevalence of mental illness will also escalate the demand for efficient treatment. For instance, according to the National Institute of Mental Health, around one in every five U.S. adults suffer from mental illness. Thus, the growing prevalence of the diseases will surge the growth of the global mental health market.
The high cost of mental health programs may limit the growth of the market. On the contrary, the market may witness high growth potential in developing countries due to improving healthcare infrastructure.
Strategic partnerships between industry players to offer efficient mental health services will amplify the market growth. For instance, Acadia signed a joint venture with Geisinger Health in order to include new facilities with nearly 96-beds. Furthermore, BHN also inked a pact with Holyoke Health Center and the HEALing (Helping to End Addiction Long-Term) in 2021 for the launch of a new program,”communities study,” that aims to help people suffering from opioid dependence. Thus, such initiatives will escalate the mental health market growth.
COVID-19 Impact Analysis
COVID-19 pandemic further worsened the situation for people suffering from mental sickness. Patients could not get proper treatment due to the pandemic. Various general hospital psychiatric wards were transformed into COVID-19 wards. As a result, it increased the pre-existing mental health symptoms at a significant rate.
Furthermore, the wake of the pandemic forced various companies, hotels, and other institutions to shut their places. As a result, many people lost their jobs. Thus, it triggered cases of depression and anxiety. Furthermore, the shortage of personal protective equipment further hampered the growth of the market.
The demand for mental health facilities increased abruptly. Various governments started helpline numbers to support people suffering from depression during the pandemic. Thus, it has been beneficial for the global mental health market.
Regional Analysis
The Asia-Pacific mental health market is forecast to grow at a significant rate. China and India are forecast to emerge as lucrative markets due to the growing cases of mental illness in the countries. Furthermore, the rising demand for effective mental health programs is likely to contribute to the expansion of the market. Furthermore, governments are also upscaling their services in order to cater to the demands of the population. As a result, it will drive the Asia-Pacific mental health market forward.
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Competitors in the Market
The MENTOR Network
Universal Health Services, Inc.
Acadia Healthcare
Behavioral Health Network, Inc.
CareTech Holdings PLC
Ascension Seton
Pyramid Healthcare
Promises Behavioral Health
North Range Behavioral Health
Strategic Behavioral Health
Other Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Mental Health industry experienced notable growth in its workforce. Starting in January, employment within the Mental Health sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Mental Health output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Mental Health output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Mental Health market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Mental Health market.
Market Segmentation
The global mental health market segmentation focuses on Disorders, Services, Age Group, and Region.
By Disorders Outlook
Schizophrenia
Alcohol Use Disorders
Bipolar Disorder
Depression
Anxiety
Post-traumatic Stress Disorder
Substance Abuse Disorders
Eating Disorders
Other Disorders
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By Services Outlook
Emergency Mental Health Services
Outpatient Counselling
Home-based Treatment Services
Inpatient Hospital Treatment Services
Other Services
By Age Group Outlook
Pediatric
Adult
Geriatric
By Regional Outlook
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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Table of Contents:
Chapter 1: Introduction to the Global Mental Health Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Mental Health Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Mental Health Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Mental Health Market Size
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Mental Health market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Mental Health market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Mental Health business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
* Assisting businesses in gauging the viability of new or existing products or services.
* Facilitating business enterprises in the identification and cultivation of novel market segments.
* Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
* Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
* Analyzing market trends to aid businesses in devising adaptive strategies.
* Guiding businesses in the optimal placement of their products.
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