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Global Mental Health Market 2022: A $560+ Billion Market by 2030 – Astute Analytica

CHICAGO, UNITED STATES, October 24, 2022 /EINPresswire.com/ -- The global mental health market size was US$ 384.85 billion in 2021. The global mental health market is expected to grow to US$ 560.33 billion by 2030 by registering a compound annual growth rate (CAGR) of 4.43% over the forecast period 2022-2030.

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Mental disorders include various abnormal conditions, such as abnormal perceptions, emotions, thoughts, behaviour, etc.
Depression, schizophrenia, bipolar disorder, etc., are the categories of mental disorders. Mental disorders affect a vast range of the population. World Health Organization estimates that depression is among the leading causes of disability, whereas suicide is the second major reason for death in 15-29-year-old people.

Market Dynamics
Drivers:
The growing prevalence of mental disorders, along with the rising rate of the geriatric population, which is more prone to get affected by mental health issues, will shape the scope of the mental health market. The World Health Organization reports that mental health conditions affect 20% of the world's children and adolescents. The same source estimates that nearly 15% of adults aged 60 or above suffer from a mental disorder.
Poor mental health can impact work performance, relationships, and social participation. The growing knowledge about the significance of mental health is driving the scope of the mental health market. Depression and anxiety are the most common mental disorders around the globe, which cost nearly US$ 1 trillion each year to the global economy. Apart from that, less than 2% of the total value of government health expenditure globally is spent on mental health, which raises the high need for focus from authorities.

Restraints:
The high cost of mental health treatment complicates the growth of the mental health market. Highly expensive prescription drugs, residential treatment, and outpatient mental health treatment add up to the cost of the treatment, which limits the demand for efficient treatment.

Opportunities:
Factors such as growing digitalization and rising use of smartphones & internet penetration will present potential prospects for market growth as the use of mental health apps is constantly growing. Owing to the COVID-19 disease outbreak, the cases of mental disorders upsurged dramatically, increasing the need for efficient medical professionals. Mental health app adoption upsurged as a result. Additionally, governments started pouring high investments in digital mental health, which became opportunistic for the mental health market.

Regional Analysis
North America mental health market leads with the highest share in 2021 and will maintain dominance due to the high prevalence of depression, anxiety, and other mental health problems. Nearly 26% of Americans falling under the age category of 18 or older witness mental health problems. Therefore, it raises opportunities for the mental health market in North America.

In Europe, the United Kingdom mental health market leads with a high share in 2021. In the United Kingdom, there is high adoption of advanced technologies, and knowledge about the significance of mental health is growing among people. On the basis of mental disorders, mood disorders lead to the highest share in the mental health market in Europe.

The Asia-Pacific mental health market will exhibit the highest growth rate due to steadily growing knowledge about the importance of mental health, along with the growing disposable income. China contributes the highest in the Asia-Pacific mental health market, owing to the growing geriatric population. On the basis of treatment techniques, the psychological intervention technique leads with the highest market share.

Brazil leads in the South America mental health market and will also exhibit the highest CAGR over the projection period. On the basis of patient age, the adult segment leads with the lion's share, while mood disorders, based on mental disorders, are more prevalent and hold the largest market share.
South Africa leads with the highest share in the Middle East & Africa mental health market and will grow at the highest growth rate. On the basis of treatment techniques, the psychological intervention segment leads in the MEA mental health market, while Cognitive Behavioural Therapy (CBT) segment will register the highest growth rate.

Impact of COVID-19
The COVID-19 pandemic amplified the cases of mental disorders as the lockdown restrictions resulted in an increase in financial insecurity, unemployment, and lack of social connections. The unprecedented worsening of the population's mental health increased the demand for effective therapies, thereby driving the scope of the global mental health market. Furthermore, factors such as high rates of mental issues and unavailability of effective treatment, medications, and support facilities further brought opportunities for the market. Therefore, government bodies started investing in remote healthcare and offering online therapies to patients. Various countries are pouring high funds into innovative digital and telecommunication solutions, which will drive the scope of the mental health market during the study period.

Browse Detailed Summary of Research Report: https://www.astuteanalytica.com/industry-report/mental-health-market

Competitive Insight
The key players analyzed in the global mental health market include Acadia Healthcare, CareTech Holdings PLC, Universal Health Services, Inc., Behavioral Health Network, Inc., The MENTOR Network, Promises Behavioral Health, and others.

Segmentation Overview
The following are the various segments of the Global Mental Health Market:
By Mental Disorder:
Mood Disorders
Anxiety Disorders
Personality Disorders
Psychotic Disorders
Eating Disorders
Trauma-related Disorders
Substance Abuse Disorders
Others

By Treatment Techniques:
Intervention Counselling
Individualized Therapy
Group Therapy
Family Counselling
Discharge Planning
Psychological Intervention
Cognitive Behavioral Therapy
Dialectical behavior therapy
Medication evaluation & therapy
Psychotherapy
Trauma Therapy
Dual diagnosis treatment

By Patient Age Group:
Pediatric
Adult
Geriatric

By Region:
North America
The U.S.
Canada
Mexico

Europe
Western Europe
The U.K.
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe

Asia Pacific
China
India
Japan
Australia & New Zealand
South Korea
ASEAN
Rest of Asia Pacific

Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa

South America
Argentina
Brazil
Rest of South America

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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

Aamir Beg
Astute Analytica
+1 888-429-6757
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