The global mental health market revenue was US$ 397.4 billion in 2021. The global mental health market revenue is forecast to reach US$ 539.97 billion by 2030, growing at a compound annual growth rate (CAGR) of 3.7% during the forecast period from 2022-2030.
The symptoms of mental health problems include an absence of positive emotions, low moods, and a range of behavioral, cognitive, and physical symptoms. About 1 in 5 people suffer from this condition. Genetics, stress, and brain chemistry are all factors that lead to depression. The WHO estimates that more than 264 million people of all ages affected by depression in 2020. Globally, depression causes a significant number of disabilities and contributes significantly to the global burden of disease.
Factors Influencing Market Growth
Impact Analysis of COVID-19
The COVID-19 pandemic had led to an increase in mental health cases among the people. The factors such as fear of the virus itself, collective grief, prolonged physical distance, and social isolation have contributed to the rise in mental health cases. As a result, the demand for mental health treatment raised. Accordingly, the mental health market expanded globally. In spite of this, there were disruptions to mental health treatment due to lockdown and closure of clinics. In addition, only emergency mental health services were available, while non-emergency services had a delay. As a result, the treatment took longer than usual.
Regional Insights
In 2020, North America led the mental health market, and it is forecast to maintain that dominance over the forecast period. Health care professionals and individuals working in the corporate industry have become increasingly aware of mental health due to advancements in advanced technologies. Furthermore, an increase in mental health developments in the healthcare sector and the presence of major players operating in the region contribute to the mental health market's growth.
The Asia-Pacific region is forecast to grow at the fastest rate during the forecast period. A rise in health awareness, a development in healthcare infrastructure, and a profusion of hospitals with advanced medical equipment have led to a rise in the number of hospitals with advanced medical equipment.
Leading Competitors
The leading prominent companies profiled in the global mental health market are:
Scope of the Report
The global mental health market segmentation focuses on Disorder, Services, Age Group, and Region.
Segmentation based on Disorder
Segmentation based on Services
Segmentation based on Age Group
Segmentation based on Region
