Mental Health Market
The global mental health market was valued at $383.31 billion in 2020, and is estimated to reach $537.97 billion by 2030, growing at a CAGR of 3.5% from 2021 to 2030.
The global mental health market is growing due to increasing prevalence of mental health disorders, growing awareness about mental health, and advancements in technology. The market includes various products and services such as psychotherapy, psychiatric drugs, and behavioral health software, tele therapy, and self-care apps. The market players include pharmaceutical companies, behavioral health technology companies, hospitals, and clinics.
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- CAGR: 3.5%
- Current Market Size: USD 383.31 Billion
- Forecast Growing Region: APAC
- Largest Market: North America
- Projection Time: 2021 – 2030
- Base Year: 2021
Mental health refers to a person's
overall psychological well-being and encompasses their emotional,
psychological, and social well-being. It affects how people think, feel, and
behave in their daily lives. Good mental health allows a person to lead a
fulfilling life, cope with the normal stresses of life, work productively, and
contribute to their community.
Mental health conditions, such as
depression, anxiety, and bipolar disorder, can disrupt a person's daily life
and cause significant distress. Treatment for mental health conditions may
include therapy, medication, and lifestyle changes.
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On the basis of disorder, the global mental health market is divided into schizophrenia, alcohol use disorders, bipolar disorder, depression, anxiety, post-traumatic stress disorder, substance abuse disorders, eating disorders, and other disorders. The depression segment was the major revenue contributor in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to the growing cases of anxiety, depression, and suicide have increased concerns regarding mental health across the globe.
Depending on age group, the global mental health market is
segregated into a pediatric, adult, and geriatric. The adult segment led the
market in 2020, and is anticipated to maintain its lead during the forecast
period.
North America was the largest shareholder in the global mental
health market in 2020, owing to its well-established healthcare infrastructure,
the surge in adoption of mental healthcare services, increase in geriatric
population, and rise in prevalence of mental diseases. However, Asia-Pacific is
anticipated to register the highest CAGR during the forecast period, owing to
increase in health awareness, development in healthcare infrastructure, and
rise in number of hospitals equipped with advanced medical facilities.
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