Mental Health Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2030

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: 

• The latest study published by Astute Analytica analyzes the Global Mental Health Market for the study period of 2017-2030; where the historical years are 2017-2020, the base year is 2021, and the forecast period is 2022-2030.
• The research report offers a detailed study of market determinants including market drivers, restraints, opportunities, and trends; along with an attractive presentation in the form of impact analysis to gain a simpler and easy comparison view of all market determinants.
• The research study is a compilation of 9 chapters distributed across 124 pages with 24 lists of tables and 61 lists of figures.
• The various segmentations considered to analyze the market are based on mental disorders, treatment techniques, patient age group, and region.
• The market estimates are presented in terms of value (US$ Bn)
• Along with market estimations, the market study was conducted on the basis of various economic models such as PESTLE analysis and Porter’s five force models.
• A detailed value chain analysis of the industry was conducted. It includes crisis response, prevention, case finding, assessment, and treatment.
• The competitive dashboard section includes analysis on the basis of Concentration Ratio (CR), based on market size and market presence of key companies.

Key Takeaways from the Global Mental Health Market Report:

• Based on mental disorders, the mood disorder (depression or bipolar) segment has the highest share in the global mental health market in 2021. Depression results from a complex interaction of social, psychological, and biological factors. People who have gone through adverse life events (unemployment, bereavement, traumatic events) are more likely to develop depression.
• In terms of treatment techniques, the psychological intervention segment holds the highest market share in 2021 and registers the highest CAGR over the forecast period. Among psychological interventions, cognitive behavioral therapy (CBT) has the highest market share in 2021. CBT focuses on challenging and changing cognitive distortions (such as thoughts, beliefs, and attitudes) and their associated behaviors to improve emotional regulation and develop personal coping strategies.
• Based on the patient age group, adults dominate the Global Mental Health Market in 2021 and are estimated to dominate throughout the forecast period. More than 7,00,000 people die by suicide every year, which is one person every 40 seconds. Out of these, more than two-thirds are adults.
• North America dominates the Global Mental Health Market in 2021 and is projected to continue its dominance over the forecast period. An estimated 26% of Americans, aged 18 and older, suffer from a diagnosable mental health disorder each year. Many people suffer from more than one mental health disorder at a given time.

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. 

Competitive Insight

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. 

Segmentation Overview

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:

• Mood Disorders
• Anxiety Disorders
• Personality Disorders
• Psychotic Disorders
• Eating Disorders
• Trauma-related Disorders
• Substance Abuse Disorders
• Others

By Treatment Techniques segment of the Global Mental Health Market is sub-segmented into:

• 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 segment of the Global Mental Health Market is sub-segmented into:

• Pediatric
• Adult
• Geriatric

By Region segment of the Global Mental Health Market is sub-segmented into:

• 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 the Middle East & Africa
• South America
  • Argentina
  • Brazil
  • Rest of South America