India Mental Health Market to grow significantly by 2028 |CAGR: 15%| UnivDatos Market Insights

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NOIDA, India, May 2, 2022 /PRNewswire/ -- A comprehensive overview of the India mental health market is recently added by UnivDatos Market Insights to its humongous database. The India mental health market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the mental health market. The mental health market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the mental health market at the regional levels. The India Mental health Market is expected to grow at a substantial CAGR of 15% from 2022-2028.

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Market Overview

The India mental health market is expected to grow on account of the higher prevalence of mental disorders in states such as Tamil Nadu, Kerala, Telangana, Karnataka, and Andhra Pradesh, among others. Tamil Nadu, being one of the States in the high socio-demographic index group, accounted for a high prevalence of depressive disorders, anxiety disorders, and schizophrenia. These rising depressive and anxiety disorders across South India have led to an increase in suicide cases. Also, in India, the state holds second place in the number of suicides, as per the National Crime Record Bureau (NCRB), with at least 36 people taking the extreme decision every day in the state. In 2019, a total of 13,493 people killed themselves in Tamil Nadu, giving it a 9.7% share. Topping the list is Maharashtra with 18,916 and in third place in West Bengal with 12,665. Owing to these facts, the government in various states of India has been implementing various mental health policies which in turn is propelling the mental health market in the country.  

COVID-19 Impact

The COVID-19 pandemic has provided tremendous research resources while also highlighting the threat of deadly epidemic-prone diseases worldwide. The COVID-19 pandemic has significantly impacted the mental health market. This is because many people are facing challenges that can be stressful, overwhelming, and cause strong emotions in adults as well as in children. Thereby, fostering the demand for mental health services.

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India's mental health market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Disorders, the market is primarily fragmented into

• Schizophrenia
• Alcohol Use Disorders
• Bipolar Disorder
• Depression
• Anxiety
• Eating Disorders
• Other Disorders

Amongst Disorders, the India mental health market is segmented into schizophrenia, alcohol use disorders, bipolar disorder, depression, anxiety, eating disorders, and other disorders. In 2020, the depression segment grabbed the major market share and is expected to maintain its dominance during the forecast period owing to the increase in the number of people suffering from depression in India. For instance, according to the estimation by the World Health Organization, 56 million Indians suffer from depression and another 38 million Indians suffer from anxiety disorders. Further, the growing awareness regarding depression and rising acceptance of its treatment are also some of the other factors contributing to the growth of this market.

By Services, the market is primarily segmented into

• Emergency Mental Health Services
• Home-based Treatment Services
• Inpatient Hospital Treatment Services
• Other Services

By services, the India Mental Health Market is divided into emergency mental health services, outpatient counseling, home-based treatment services, inpatient hospital treatment services, and other services. The inpatient hospital treatment services segment occupied the major share of the India Mental Health market in 2020 and it is expected to grow with a substantial CAGR in the upcoming years. The growth of this segment is attributed to the increasing patient pool and an ample number of patients deploying mental health solutions to enhance self-care.

By Age Group, the market is primarily segmented into

• Pediatric
• Adult
• Geriatric

By age group, the market is divided into pediatric, adult, and geriatric. The adult segment grabbed a considerable market share in 2020 and is expected to maintain its dominance during the forecast period. The growth of this segment can be attributed to the growing popularity of various mental health services among the 18+ age group. This can be due to the hectic work schedules leading to increased stress among the adult population coupled with the growing prevalence of mental health disorders among adults. For instance, In the United States, almost half of adults (46.4%) will experience a mental illness during their lifetime and 5% of adults (18+) experience a mental disorder in any one year, which is equivalent to 43.8 million people, as per the national council for mental well-being.

Mental health Market Geographical Segmentation Includes:

• North India
• South India
• West India
• East India

Geographically, the South India region dominated the mental health market with almost US$ XX million in revenue in 2020 owing to the growing prevalence of mental health illnesses in the region.

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The major players targeting the market include

• Wysa
• Innerhour
• Juno Clinic
• YourDOST
• ePsyClinic
• Trijog
• Headspace
• Mind.fit
• Mindhouse
• Calm

Competitive Landscape

The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the country. The specialist team of research analysts sheds light on various traits such as market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the India mental health market. The major players have been analyzed by using research methodologies for getting insight views on competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the India mental health market?
• Which factors are influencing the India mental health market over the forecast period?
• What are the challenges, threats, and risks in the India mental health market?
• Which factors are propelling and restraining the India mental health market?
• What are the demanding regions of the India mental health market?
• What will be the market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

For more informative information, please visit us @ https://univdatos.com/report/india-mental-health-market/

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature. Please let us know If you have any custom needs.

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