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Apr 11, 2022, 07:30 ET
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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.
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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:
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.  
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Report Attribute
Details
Market Size Value in 2021
US$ 384.85 Billion
Market Outlook for 2030
US$ 560.33 Billion
Expected CAGR Growth
4.43% from 2022 – 2030
Base Year
2021
Forecast Period
2022-2030
Top Market Players
Acadia Healthcare, The MENTOR Network, Universal Health Services, Inc., Behavioral Health Network, Inc., CareTech Holdings PLC, and Promises Behavioral Health among others
Segments Covered
By Mental Disorders, By Treatment Techniques, By patient Age, By Region
Geographies Covered
North America, Europe, Asia Pacific, Middle East & Africa, South America
Customization Options
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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:
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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.
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