Mental Health Market, By Disorder (Schizophrenia, Post-Traumatic Stress Disorder, Depression Anxiety, Bipolar Disorder, Alcohol Use Disorders and Other Disorder), By Service (Emergency Mental Health Services, Outpatient Counselling, Inpatient Hospital Treatment Services, Home-Based Treatment Services and Other Services), By Age-Group (Pediatric, Adult and Geriatric), and By Region - Trends, Analysis and Forecast till 2030

Mental Health Market size accounted for USD 381.98 Billion in 2020 and is estimated to be USD 527.44 Billion by 2030 and is anticipated to register a CAGR of 3.40%.

Some of the characteristics symptoms of mental health are lack of a pleasant emotion, a depressed mood, and a variety of related cognitive, physical, emotional, and behavioral. One in every five people have this fairly prevalent condition. Depression is caused by a number of variables, including genes, stress, and brain chemistry. In 2020, more than 264 million individuals of all ages had depression, according to the WHO. A substantial component to the overall global disease burden is depression, which is a primary cause of disability globally. Due to COVID-19, those who already have poor mental health face a number of hazards, such as higher rates of mental illness, interruptions in treatment, medicine, and the lifeline of support services, as well as detrimental effects on the market. Furthermore, research indicates that in individuals with a history of mental illness, COVID-19 is likely to increase pre-existing symptoms or cause a relapse. Additionally, several nations are spending money on hiring more mental health specialists and on cutting-edge digital and telecommunications solutions. As a result, during the anticipated time, it will have a favorable effect.

Rising prevalence of mental health diseases

Worldwide, the prevalence of mental health diseases is currently rising. This is one of the main causes supporting the market's growth, along with a person's lifestyle, usage of illicit substances, past trauma or abuse, and biological variables like genes or brain chemistry. In addition, the coronavirus illness (COVID-19) outbreak and lockdown limitations imposed by governing bodies of various nations have harmed people's pre-existing mental health symptoms and brought on relapses everywhere. This is helping the industry expand, along with the rising need for hospital services brought on by the growing number of patients who need mental health solutions to encourage self-care.

Additionally, governments in many nations are hiring more mental health specialists and investing in technology and telecommunications solutions. A positive market outlook is being produced by this, together with a notable increase in the number of awareness campaigns about mental health. Other significant aspects that are anticipated to support the market's expansion include expanding geriatric populations, rising occurrences of depression that result in incapacity, and bettering healthcare infrastructure.

 As a result of the need to address these issues, mental health solutions are now more widely known and accepted as a way to reduce medication errors and paperwork, boost productivity by providing quick access to patient information, improve workflow effectiveness, and cut healthcare expenses. These advantages have sped up the adoption of mental health software, especially in big hospitals and neighborhood clinics.

The global Mental Health Market is segmented based on disorder, service, age-group and region.

Disorder Insights

On the basis of Disorder, the global Mental Health Market is segmented into Schizophrenia, Post-Traumatic Stress Disorder, Depression Anxiety, Bipolar Disorder, Alcohol Use Disorders and Other Disorder.  In 2020, the depression category dominated the market, and it is predicted that this trend would hold throughout the projection period. This is due to the rise in incidences of anxiety, depression, and suicide, which has raised awareness of mental health issues around the world.

Service Insights

On the basis of Product Type, the target market is segmented into Emergency Mental Health Services, Outpatient Counselling, Inpatient Hospital Treatment Services, Home-Based Treatment Services and Other Services. In 2020, the market was dominated by the inpatient hospital treatment services category, and this trend is anticipated to hold during the forecast period. This is due to an increase in the prevalence of mental illnesses, a larger patient population, and a large number of patients using self-care tools for mental health.

Age-Group Insights

Based on End-User, the target market is segmented into Pediatric, Adult and Geriatric. In 2020, the adult market segment dominated and is anticipated to continue to do so throughout the projected period. The rise in popularity of various mental health services among those aged 18 and above are reason for the segment's expansion. This may be a result of adults' stressful job schedules, which also contribute to the rising prevalence of mental health illnesses in adults. For instance, according to the national council for mental well-being, 43.8 million adults in the United States (46.4 %) will have a mental illness throughout their lifetime, and 5% of adults (18+) may experience a mental condition.

Regional Insights:

On region the global Mental Health Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a significant portion of the global market for mental health in 2020, due to increased adoption of cutting-edge technologies and increased awareness of mental health among healthcare professionals and people working in the corporate sector, and is anticipated to maintain its leadership during the forecast period. Additionally, the expansion of mental health initiatives in the healthcare industry to create innovative services and the presence of significant competitors operating in the region fuel the market's expansion. However, due to rising health awareness, improved healthcare infrastructure, and an increase in the number of hospitals with cutting-edge medical equipment, Asia-Pacific is predicted to see the highest CAGR between 2021 and 2030.

Report Scope:

Global Mental Health Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The leading players operating in the Global Mental Health Market includes

• Being Acadia Healthcare has facilities for behavioral health therapy specialize in assisting those suffering from mental illness, including children, adolescents, adults, and elders.
• Ascension Seton A full-service hospital offering emergency care around-the-clock is Medical Center Austin Hospital in Austin, Texas.
• Behavioral Health Network Inc. is a regional provider of comprehensive behavioral health services for people with mental illness who are adults, kids, and families.
• CareTech Holdings PLC is a care and support provider for kids and adults established in the UK.
• North Range Behavioral Health has specialization in addiction treatment, mental health programs, and education for individuals and families.
• Promises Behavioral Health are drug rehabs and mental health treatment centers are located in diverse settings across the U.S.
• Pyramid Healthcare is a leader in the healthcare industry which includes behavioral health care industry, treating addiction and mental health issues in PA, MD, CT and VA.
• Strategic Behavioral Health LLC provides home health care services and offers behavioral health, mental care, nursing, rehabilitation.
• Sevita (The MENTOR Network) a national provider of home and community-based specialized health care in U.S.

• In 2022, as the prevalence of anxiety, depression, and other diseases climbs, Californians facing mental health emergencies will soon be able to receive psychiatric care more easily by calling 988.
• In 2022, although less than 37% of persons with anxiety disorders receive treatment, it is still the most prevalent mental ailment in the country. Wonder Sciences, a life sciences firm dedicated to enhancing mental health through psychedelic medication, today announced the launch of Wondermed as a response to these troubling numbers. Wondermed provides a low-dose, self-administered ketamine lozenge and comprehensive protocol that enable people to go on a secure, self-healing journey from the comfort of home by utilising a holistic strategy that combines psychiatry and psychology.