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Global Mental Health Market is anticipated to witness a rise in its revenue from US$ 384.85 Bn in 2021 to US$ 560.33 Bn by 2030. The market is registering a CAGR of 4.43% over the forecast period 2022-2030. Mental disorders are characterized by a combination of abnormal thoughts, perceptions, emotions, behavior, and relationships with others. Mental disorders include depression, bipolar disorder, schizophrenia, other psychoses, dementia, and developmental disorders including autism. In recent years, there has been an increasing acknowledgment of the significant role mental health plays in achieving global development goals, as illustrated by the inclusion of mental health in the Sustainable Development Goals. According to the World Health Organization, depression is one of the leading causes of disability and suicide is the second leading cause of death among 15–29-year-olds.
The market is majorly driven by factors such as an increase in the prevalence of mental disorders and the rising geriatric population. Mental health conditions are increasing worldwide. Mainly because of demographic changes, there has been a 13% rise in mental health conditions and substance use disorders in the last decade. According to the WHO, mental health conditions now cause 1 in 5 years lived with disability. Around 20% of the world’s children and adolescents have a mental health condition, with suicide the second leading cause of death among 15-29-year-olds. Approximately one in five people in post-conflict settings have a mental health condition. Mental health conditions can have a substantial effect on all areas of life, such as school or work performance, relationships with family and friends, and the ability to participate in the community. Two of the most common mental health conditions, depression, and anxiety, cost the global economy US$ 1 trillion each year. Despite these figures, the global median of government health expenditure that goes to mental health is less than 2%. Moreover, the Covid-19 pandemic and the associated lockdown in countries across the globe have further escalated the mental health disorders among Individuals. Furthermore, the rising geriatric population is also accelerating the market demand. It is estimated that between 2015 and 2050, the proportion of the world’s population over 60 years will nearly double, from 12% to 22%.
According to the World Health Organization, over 20% of adults aged 60 and over suffer from a mental or neurological disorder (excluding headache disorders) and 6.6% of all disability among people over 60 years is attributed to mental and neurological disorders. Therefore, it is important to prepare health providers and societies to meet the specific needs of older populations, which in turn is expected to trigger market growth. However, the rise in the cost of mental health programs is hindering market growth.
Key Insights of the Report:
Key Takeaways from the Global Mental Health Market Report:
Impact of COVID-19
The covid-19 pandemic has escalated mental health disorders among individuals. Pandemic and the associated lockdown led to financial insecurity, unemployment, and a lack of social connections among individuals, which led to a significant and unprecedented worsening of the population’s mental health. Furthermore, increased rates of mental ill-health issues and lack of treatment, medications, and support services had a negative impact on market growth. However, many countries are today investing in innovative digital and telecommunication solutions to address the mental health needs of their citizens, which is expected to propel market growth over the forecast period.
The key players in the Global Mental Health Market are Acadia Healthcare, The MENTOR Network, Universal Health Services, Inc., Behavioral Health Network, Inc., CareTech Holdings PLC, and Promises Behavioral Health, among others.
The following are the various segments of the Global Mental Health Market:
By Mental Disorder segment of the Global Mental Health Market is sub-segmented into:
By Treatment Techniques segment of the Global Mental Health Market is sub-segmented into:
By Patient Age Group segment of the Global Mental Health Market is sub-segmented into:
By Region segment of the Global Mental Health Market is sub-segmented into:
|Market Size Value in 2021||US$ 384.85 Bn|
|Expected Revenue in 2030||US$ 560.33 Bn|
|Unit||Value (USD Mn)|
|Segments covered||Mental Disorder, Treatment Techniques, Patient Age Group, and Region|
|Leading players||Acadia Healthcare, The MENTOR Network, and other prominent players.|
|Customization Scope||Get your customized report as per your preference. Ask for customization|