Mental Health Market is estimated to reach US$ 560.33 Bn by 2030: Driven by an increase in prevalence of mental disorders and rising geriatric population| CAGR: 4.43%: Astute Analytica

NEW DELHI, April 11, 2022 /PRNewswire/ -- The study undertaken by Astute Analytica foresees a tremendous growth in revenue of the Global Mental Health Market 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. The market is majorly driven by factors such as increase in prevalence of mental disorders and rising geriatric population.

Market Snapshot:

Mental disorders are characterized by a combination of abnormal thoughts, perceptions, emotions, behavior, and relationships with others. Mental disorders include depression, bipolar disorder, schizophrenia and other psychoses, dementia, and developmental disorders including autism. According to 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. In recent years, there has been increasing acknowledgement 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.

Request a Sample Report of Mental Health Market: https://www.astuteanalytica.com/request-sample/mental-health-market

Market Dynamics

Drivers:

The growing impetus of the market is attributed to factors such as increase in prevalence of mental disorders and 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 (to 2017). According to the World Health Organization, 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 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, Covid-19 pandemic and the associated lockdown in countries across the globe have further escalated the mental health disorders in Individuals. Furthermore, 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.

Restraints:

Prescription drugs, residential treatment, and outpatient mental health treatment make up the majority of the costs for mental health treatment. Therefore, the rise in cost of mental health programs is hindering the market growth.

Opportunities:

Surging digitalization and growing smartphone & internet penetration are expected to increase the utilization of mental health apps across the globe. Further, Covid-19 have increased the chances of medical professionals and patients adopting mental health apps. In addition, shifting trends from traditional methods of care to patient-centric and personalized care are supporting the adoption of mental health apps. Thus, growing investments in digital mental health is projected to present a lucrative opportunity for market expansion.

Regional Analysis of the Global Mental Health Market:

• 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 in a given year. Many people suffer from more than one mental health disorder at a given time.
• The United Kingdom is the highest shareholder country in Europe mental health market in 2021. This is due to a rise in adoption of advanced technologies and an increase in awareness of mental health among individuals. Based on mental disorders, mood disorders have the highest share in the mental health market of Europe in 2021.
• Asia Pacific holds the highest compound annual growth rate in the Global Mental Health Market over the forecast period. This is due to rising disposable income and growing mental health awareness among the population. China holds the highest share in the mental health market of Asia Pacific. This is due to the rising geriatric population in China. Based on treatment techniques, the psychological intervention technique has the highest market share in 2021.
• Brazil is the highest shareholder country in South America mental health market in 2021 and also registers the highest CAGR over the projection period. Based on patient age, adults have the highest share in the mental health market of South America. Further, based on mental disorders, the mood disorders segment holds the highest market share in 2021.
• South Africa holds the highest share in the Middle East & Africa mental health market. The South African market is also registering the highest CAGR over the forecast period. Based on treatment techniques, the psychological intervention segment has the highest share in the MEA market. Cognitive behavioral therapy (CBT) holds the highest share under the psychological interventions segment in 2021

Impact of COVID-19

Covid-19 pandemic has escalated mental health disorders among individuals. Pandemic and the associated lockdown led to financial insecurity, unemployment, and lack of social connections among individuals, which led to a significant and unprecedented worsening of 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 the market growth over the forecast period.  

Directly Purchase a copy of report with TOC @ https://www.astuteanalytica.com/request-sample/mental-health-market

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

Enquire more about this report before purchase @ https://www.astuteanalytica.com/request-sample/mental-health-market

For Additional Information OR Media Enquiry, Please Mail Us At: [email protected]

About Astute Analytica 

Astute Analytica is a global analytics and advisory company which 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 of 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.

Contact us:

Aamir Beg BSI Business Park, H-15,Sector-63, Noida- 201301- India

Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)

Email: [email protected] Website: www.astuteanalytica.com Follow US: LinkedIn | Twitter

SOURCE Astute Analytica