Mental Health Market

The global mental health market was valued at $383.31 billion in 2020, and is estimated to reach $537.97 billion by 2030, growing at a CAGR of 3.5% from 2021 to 2030.

Some countries are investing in innovative digital services and telecommunication solutions and the appointment of more mental health professionals. Thus, it will create a positive impact during forecast period.

Mental health problems are characterized by the absence of a positive emotion, low mood, and a range of associated cognitive, physical, emotional, and behavioral symptoms. It is a very common condition that affects 1 in every 5 individuals. The factors such as genes as well as stress and brain chemistry lead to depression. According to the WHO, more than 264 million people of all ages suffered from depression in 2020. Depression is a leading cause of disability worldwide, and is a major contributor to the overall global burden of disease.  

Individuals with existing poor mental health are facing a number of risks due to COVID-19, including increased rates of mental ill health and disruption to treatment, medications, and the lifeline of support services and create a negative impact on the market. Furthermore, studies show that COVID-19 is likely to exacerbate existing mental health symptoms or trigger relapse among people with pre-existing mental health illness. Moreover, some countries are investing in innovative digital and telecommunication solutions and the appointment of more mental health professionals. Thus, it will create a positive impact during the forecast period.

Increase in prevalence of mental disorders, rise in geriatric population, and growth in awareness program regarding mental health drive the market growth. Moreover, growing awareness about mental disorders through education and advocacy for more respect of human rights and less stigma drive the growth of the global mental health market. However, rise in cost of mental health programs and substance abuse is expected to hamper the market growth.

Mental Health Market Segmentation

The mental health market is segmented on the basis of disorder, services, age group, and region. By disorder, the market is categorized into schizophrenia, alcohol use disorders, bipolar disorder, depression, anxiety, post-traumatic stress disorder, substance abuse disorders, eating disorders, and other disorders. By services, the market is divided into emergency mental health services, outpatient counselling, home-based treatment services, inpatient hospital treatment services, and other services. By age group, it is fragmented into pediatric, adult, and geriatric. 

Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

Segment review

Depending on disorder, the depression segment dominated the market in 2020, and is expected to continue this trend throughout the forecast period. This is attributed to the growth in number of cases of anxiety, depression, and suicide have increased concerns regarding mental health across the globe. On the basis of services, the inpatient hospital treatment services segment dominated the market in 2020, and is expected to continue this trend throughout the forecast period. This is attributed to increase incidence of mental diseases, increasing patient pool and ample number of patients deploying mental health solutions to enhance self-care. 

North America accounted for a major share in the mental health market in 2020, and is expected to maintain its dominance during the forecast period, due to rise in adoption of advanced technologies and increase in awareness of mental health among healthcare professionals and individuals working in the corporate industry. Moreover, upsurge in mental health activities in the healthcare sector to develop novel services and presence of major players operating in the region fuel the growth of the market. However, Asia-Pacific is expected to register highest CAGR from 2021 to 2030, owing to increase in health awareness, development in healthcare infrastructure, and rise in number of hospitals equipped with advanced medical facilities. 

The key players operating in the global market include Acadia Healthcare, The MENTOR Network, Universal Health Services, Inc., Behavioral Health Network, Inc., CareTech Holdings PLC, Strategic Behavioral Health, Ascension Seton, North Range Behavioral Health, Pyramid Healthcare, and Promises Behavioral Health.

Key Benefits For Stakeholders

• The study provides an in-depth analysis of the mental health market, and the current trends and future estimations to elucidate the imminent investment pockets.
• It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing market opportunities.
• Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
• Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

 Mental Health Market Report Highlights