USD 399.61 billion
Mental Health Market Size, Share, Growth Analysis, By Application(Physiological Disorder(Depression, Anxiety, Post-Traumatic Stress Disorder (PTSD), Bipolar Disorder), By By Technology(Self-Screening Mental Health Apps, Telehealth And virtual Care Solutions, Continuous Monitoring Wearable Devices, AI Based Screening Tools), By Age Group(Children And Adolescents, Adults, Seniors), By Setting(Clinical Setting, Educational Institutions, Workspace Slash Corporate Programs, Online Platforms), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2233 |
Region:
Global |
Published Date: August, 2024
Pages:
219
|Tables:
65
|Figures:
75
Mental Health Market Insights
Global Mental Health Market size was valued at USD 399.61 billion in 2022 and is poised to grow from USD 413.60 billion in 2023 to USD 544.63 billion by 2031, at a CAGR of 3.5% during the forecast period (2024-2031).
Growing awareness regarding the importance of mental health around the world is projected to primarily drive the mental health market growth. Adoption of poor lifestyles has led to increased episodes of hypertension, anxiety, and stress. All these factors are negatively impacting mental health and resulting in mental health disorders thereby creating a high demand for mental health solutions and services. Growing integration of mental health with primary care around the world and rising availability of novel mental health treatments are also expected to create new opportunities for mental health companies going forward. of telehealth and digital therapies are also responsible for bolstering the demand for mental health solutions and services on a global level. North America is forecasted to be the leading market for mental health companies on a global level. On the contrary, social stigma regarding mental health issues, dearth of skilled mental health professionals, and limited access to mental health care in developing and underdeveloped countries.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Pediatric
Fastest Growth
Adult
Growth Rate
3.5% CAGR
Global Mental Health Market ($ Bn)
Country Share for North America Region (%)
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Mental Health Market Segmental Analysis
The Mental Health Market is segmented based on Application, Screening Method, Technology, Age Group, Setting and region. Based on Application, the market is segmented into Physiological Disorder (Depression, Anxiety, Post-Traumatic Stress Disorder (PTSD), Bipolar Disorder, Eating Disorder, Substance Abuse, Other Physiological Disorders), Psychiatric Disorders (Schizophrenia, Psychotic Disorder, Dissociative Disorder, Obsessive Compulsive Disorder, Dissociative Disorder, Attention Deficit Hyperactivity Disorder (ADHD), Other Psychiatric Disorders), Behavioral Disorders(Self-Harm, Aggression, Sleep Disorder, Social Withdrawal, Dissociative Disorder, Hyperactivity, Other Behavioral Disorders), Cognitive Disorders (Cognitive Impairment, Dementia, Alzheimer’s Disease, Other Cognitive Disorders), By Technology the market is segmented into Self Screening Mental Health Apps, Telehealth And virtual Care Solutions, Continuous Monitoring Wearable Devices, AI Based Screening Tools, Remote Mental Health Platforms , By Age Group, the market is segmented into Children And Adolescents, Adults, Seniors, By Setting the market is segmented into Clinical Setting Educational Institutions Workspace Slash Corporate Programs Online Platforms Other Settings, By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Mental Health Market Analysis by Age Group
Adult age group is projected to account for a dominant share of the global mental health market. Growing adoption of hectic lifestyles and rising stress levels among adults are slated to help this segment maintain its high market share. Increasing toxicity in workplaces and rising awareness regarding mental health diagnosis are also helping this segment maintain a high market share. Incorporation of mental health in corporate wellness will also help this segment boost revenue.
Meanwhile, the demand for mental health in children and adolescents is forecasted to increase at a rapid pace over the coming years. Increasing exposure to high-stress environments and growing diagnosis of multiple mental health disorders among children and teenagers is estimated to make this segment highly opportune for market players in the future.
Mental Health Market Analysis by Technology
Self-screening mental health applications are projected to account for a major share of the global mental health market. Increasing awareness regarding mental health and the easy availability of screening apps to people for initial self-diagnosis are helping this segment bring in substantial revenue. Increasing accuracy and reliability of self-screening mental health apps and their increasing integration with regulations will also help maintain a high market share for this segment.
On the other hand, the use of telehealth and virtual care solutions for mental health is projected to increase at a notable CAGR going forward. Rising adoption of telehealth technologies and increasing preference of mental health patients to get treatment virtually to avoid social stigma and discrimination are making this an opportune segment for mental health companies. Advancements in telehealth technologies are also expected to create new business scope for mental health providers from this segment.
Global Mental Health Market By Age Group
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Mental Health Market Regional Insights
Growing awareness regarding mental health and increasing emphasis on improving mental health of individuals are projected to help North America dominate the global market growth. Rising consciousness about the importance of mental health, growing availability of mental health care, and rising acceptance of the same are slated to bolster the demand for mental health in the future. Canada and the United States will remain the most opportune markets for mental health companies in this region. A growing geriatric population will also play a crucial role in augmenting mental health demand.
Europe is predicted to account for the second-largest share of the global mental health market. Surging prevalence of mental health disorders in this region and growing availability of mental health services are projected to help market growth in Europe. The United Kingdom, France, Italy, and Germany are slated to be the most opportune markets for mental health providers in this region. The region is home to some of the best mental health care services in the world and increasing efforts of governments to promote mental health are also helping mental health demand in this region.
Global Mental Health Market By Region
- Largest
- Fastest
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Mental Health Market Dynamics
Global Mental Health Market Drivers
Growing Awareness Regarding Mental Health
- People have become more aware of the importance of mental health owing to efforts of non-profit organizations and governments. This surge in awareness regarding mental health around the world is projected to bolster the demand for mental health solutions and services going forward.
High Incidence of Mental Health Diseases
- Adoption of poor lifestyles and increasing amount of stress and hypertension among people around the world. These factors have contributed to the surge in incidence of multiple mental health disorders thereby favoring mental health market growth over the coming years.
Restraints
Social Stigma Regarding Mental Health
- Mental health issues are not even seen as issues in some parts of the world, which gives rise to stigma regarding mental health disorders. Some extreme cases could also result in discrimination of individuals suffering from mental health disorders. This social stigma around mental health will impede market development.
Dearth of Skilled Professionals
- Treatment and management of mental health issues requires assistance from skilled mental health professionals. However, there are not many trained and skilled professionals to handle the rapidly surging population base of people affected by mental health disorders thereby slowing down mental health demand outlook.
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Mental Health Market Competitive Landscape
Mental health providers should focus on creating campaigns and working with public health organizations and governments to improve awareness regarding mental health. Incorporating telemedicine and telehealth practices for mental health will be crucial in determining the success of any mental health company operating in this market. Mental health mobile applications are projected to bring in substantial revenue for mental health companies in the long run.
Top Player’s Company Profiles in Global Mental Health Market
- Pfizer Inc. (US)
- Johnson & Johnson (US)
- Eli Lilly and Company (US)
- Bristol-Myers Squibb (US)
- GlaxoSmithKline (UK)
- AstraZeneca (UK)
- Merck & Co., Inc. (US)
- Takeda Pharmaceutical Company Limited (Japan)
- Otsuka Holdings Co., Ltd. (Japan)
- Novartis International AG (Switzerland)
- Sanofi S.A. (France)
- Lundbeck A/S (Denmark)
- Teva Pharmaceutical Industries Ltd. (Israel)
- AbbVie Inc. (US)
- Boehringer Ingelheim International GmbH (Germany)
- H. Lundbeck A/S (Denmark)
- Sun Pharmaceutical Industries Ltd. (India)
- Alkermes plc (Ireland)
- Amgen Inc. (US)
- Gilead Sciences, Inc. (US)
- Hikma Pharmaceuticals PLC (UK)
- Jazz Pharmaceuticals plc (Ireland)
Global Mental Health Market Recent Developments
- In September 2024, the World Health Organization (WHO) announced its plans to launch a new toolkit to reduce discrimination and stigma in mental health. The Mosaic toolkit will be available on the WHO website on 10th October 2024.
- In June 2024, FitOn and Talkspace announced a collaboration to promote mental fitness by leveraging their expertise in the same. Companies now provide physical and mental health solutions for employers to help improve the wellness of their employees.
- In May 2024, a new campus-based mental health program was launched in OP Jindal Global University (JGU). The new program was launched in collaboration with Sukoon to address mental health issues such as depression, anxiety, etc.
Mental Health Key Market Trends
- Digital Mental Health Apps: Mental health companies can focus on the development of novel mental health applications that can help people detect, manage, or treat their mental health disorders. Moreover, this can improve the accessibility to mental health care for more people than ever before and boost revenue generation as well.
- Focus on Youth and Teenagers: Stress and anxiety issues among teenagers and the youth population are higher than ever seen before and this has led to a massive upsurge in the incidence of mental health issues among this age group. Mental health companies can maximize their business scope by developing solutions and services catering to this population group in the long run.
Mental Health Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing awareness regarding mental health and increasing availability of mental health care solutions are slated to drive market growth. However, the social stigma associated with mental health and limited awareness in developing countries are slated to slow down mental health demand. North America is estimated to hold the top spot when it comes to mental health as prevalence of mental health disorders increases in countries such as the United States and Canada. Providing mental health care for youth and teenagers will offer lucrative opportunities for mental health providers.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 399.61 billion |
| Market size value in 2031 | USD 544.63 billion |
| Growth Rate | 3.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Mental Health Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Mental Health Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Mental Health Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Mental Health Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Mental Health Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Mental Health Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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