Mental Health Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Mental Health Market Analysis
The mental health market is expected to register a CAGR of 3.5% over the forecast period.
- Globally, COVID-19 had a major impact on the mental health market due to a few mental illnesses which were observed during the lockdown. For instance, as per the research brief published by the World Health Organization (WHO) in March 2022, anxiety and sadness increased dramatically by 25% worldwide in the first year of the COVID-19 pandemic. The increasing prevalence of mental health problems, along with severe disruption of mental health services, had led to large gaps in care during the initial stage of the pandemic. However, the market attain growth through remote mental healthcare services provided by various healthcare facilities.
- The primary factors that drive the market growth are the increasing prevalence of mental disorders along with the rising geriatric population and rising mental health awareness through campaigns. Mental illnesses include many different conditions that vary in degree of severity, ranging from mild to moderate to severe. According to the report published by WHO in June 2022, 1 in every 8 people in the world live with a mental disorder that involves significant disturbances in thinking, emotional regulation, or behavior.
- Similarly, as per the report published by the Mental Health Foundation, in 2022-23, an average of 37.1% of women and 29.9% of men reported high levels of anxiety in the United Kingdom. This shows the high burden of mental disorders globally and regionally, which is expected to have a significant impact on the market.
- Furthermore, the new campaigns increase the awareness of mental health in public and seek mental health services which are likely to have a significant impact on the market growth. For instance, in May 2023, The National Alliance on Mental Illness (NAMI) launched MoreThanEnough, an empowering campaign for 2023 Mental Health Awareness Month. This campaign aims to address urgent needs and create a sense of belonging for people with ongoing mental health crises, which makes them have proper treatment using mental health services and likely propel the market growth over the study period.
- However, rising costs of mental health services are expected to hinder market growth over the forecast period.
Mental Health Market Trends
Depression Under the Mental Health Disorder Segment is Expected to Have Significant Growth in the Market Over the Forecast Period
- Depressive disorder, also known as depression, is a common mental disorder that involves a depressed mood or loss of pleasure or interest in activities for long periods. Globally, the cases of depression are increasing gradually, which needs proper awareness and healthcare for maintenance.
- The major factors that drive the segment growth include the high burden of depression cases, growing awareness of depression and its management through various programs, and the introduction of advanced services into the market.
- According to the report published by the World Health Organization (WHO) in March 2023, an estimated 3.8% of the population experience depression, including 5% of adults (4% among men and 6% among women) and 5.7% of adults older than 60 years. Hence, there is a need for effective psychological treatments, which include behavioral activation, cognitive behavioral therapy, interpersonal psychotherapy, and problem-solving therapy, which likely increase the growth of the market over the study period.
- Furthermore, the advancements in providing mental health services for depression increase the usage of these services, which likely boosts market growth. For instance, as per the report published by Cambridge University in August 2022, telemedicine delivery is a viable alternative to face-to-face treatment for patients with depression. These remote healthcare services increase the adoption of mental health services which likely boosts the market growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
- Mental disorders in Americans are gradually increasing due to increasing stress, substance abuse, and excessive alcohol intake. North America is expected to have a significant share in the mental health market due to the increasing cases of mental disorders, new government initiatives and funding for mental healthcare, and the expansion or establishment of new mental healthcare centers in these countries.
- Mental illnesses are common in the United States. According to the report published by Mental Health America, Inc, in 2023, over 1 in 10 youth in the United States are experiencing depression that is severely impairing their ability to function at school or work, at home, with family, or in their social life.
- Similarly, the National Institutes of Health (NIH) estimated that more than one in five United States adults live with a mental illness, i.e., 57.8 million in 2021. This shows the high burden of mental disorders in the United States likely increases the need for mental healthcare services, which is expected to boost the market growth in the country.
- Furthermore, new government initiatives help to expand mental health services in the region. For instance, in June 2023, the United States Department of Health and Human Services (HHS), through the Substance Abuse and Mental Health Services Administration (SAMHSA), awarded USD 31.5 million in behavioral health grants for children, youth, and young adults. This award is to address the mental health crisis in the nation.
- Similarly, in March 2023, the Governor of California, in partnership with Senator Susan Talamantes Eggman (D-Stockton), proposed the modernization of California's behavioral health system and more mental health housing. These initiatives increase the mental healthcare services in the region, which will likely propel the market growth over the forecast period.
Mental Health Industry Overview
The mental health market is fragmented due to the presence of various market players throughout the world. The majority of the key players expand their services in various regions, which helps to maintain market growth. Some of the key players in the market include Acadia Healthcare, Vita Health Group, Behavioral Health Services, Sevita, CareTech Holdings PLC, and others.
Mental Health Market Leaders
Acadia Healthcare
Behavioral Health Services
Vita Health Group
Sevita
CareTech Holdings PLC
*Disclaimer: Major Players sorted in no particular order
Mental Health Market News
- June 2023: Mount Sinai Health System inaugurated the newly constructed Mount Sinai-Behavioral Health Center, located at 45 Rivington Street in Lower Manhattan. The facility will transform behavioral health care in New York City by serving as a comprehensive one-stop shop for mental health care, substance use treatment, and primary care.
- June 2023: Comvest Partners announced the acquisition of Your Behavioral Health company, a behavioral health services platform based in Torrance, California. Comvest will support Your Behavioral Health during its next stage of growth through investments in key technologies and additional outpatient and telehealth services.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Mental Disorders Along With Rising Geriatric Population
4.2.2 Rising Mental Health Awareness Through Campaigns
4.3 Market Restraints
4.3.1 Rising Costs of Mental Health Services
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Mental Health Disorder
5.1.1 Depression
5.1.2 Bipolar Disorder
5.1.3 Schizophrenia
5.1.4 Anxiety
5.1.5 Post-Traumatic Stress Disorder (PTSD)
5.1.6 Other Mental Disorders
5.2 By Services
5.2.1 Inpatient Treatment Services
5.2.2 Residential Treatment Services
5.2.3 Outpatient Treatment Services
5.2.4 Emergency Mental Health Services
5.2.5 Other Mental Health Services
5.3 By Age Group
5.3.1 Pediatric
5.3.2 Adult
5.3.3 Geriatric
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Behavioral Health Network, Inc.
6.1.2 Acadia Healthcare
6.1.3 CareTech Holdings PLC
6.1.4 Sevita
6.1.5 Universal Health Services, Inc
6.1.6 Unison Health
6.1.7 Kennebec Behavioral Health
6.1.8 Vita Health Group
6.1.9 Claimont
6.1.10 Promises Behavioral Health
6.1.11 Behavioral Health Services
6.1.12 CHE Behavioral Health Services
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Mental Health Industry Segmentation
As per the scope of the report, mental health includes emotional, psychological, and social well-being. Alter mental health condition is considered a mental illness, which includes depression, anxiety disorders, schizophrenia, eating disorders, and addictive behaviors.
The mental health market is segmented by mental health disorder (depression, bipolar disorder, schizophrenia, anxiety, post-traumatic stress disorder (PTSD), and other mental disorders), services (inpatient treatment services, residential treatment services, outpatient treatment services, emergency mental health services, and other mental health services), age group (pediatric, adult, and geriatric), and geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally.
The report offers the value (USD) for the above segments.
| By Mental Health Disorder | |
| Depression | |
| Bipolar Disorder | |
| Schizophrenia | |
| Anxiety | |
| Post-Traumatic Stress Disorder (PTSD) | |
| Other Mental Disorders |
| By Services | |
| Inpatient Treatment Services | |
| Residential Treatment Services | |
| Outpatient Treatment Services | |
| Emergency Mental Health Services | |
| Other Mental Health Services |
| By Age Group | |
| Pediatric | |
| Adult | |
| Geriatric |
| Geography | ||||||||
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Frequently Asked Questions
What is the current Mental Health Market size?
The Mental Health Market is projected to register a CAGR of 3.5% during the forecast period (2024-2029)
Who are the key players in Mental Health Market?
Acadia Healthcare, Behavioral Health Services, Vita Health Group, Sevita and CareTech Holdings PLC are the major companies operating in the Mental Health Market.
Which is the fastest growing region in Mental Health Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Mental Health Market?
In 2024, the North America accounts for the largest market share in Mental Health Market.
What years does this Mental Health Market cover?
The report covers the Mental Health Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mental Health Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
How is technology impacting the future of Mental Health Treatment?
Technology is impacting the future of Mental Health Treatment Market through a) Potential for AI-powered therapy b) Wearable technology for monitoring c) Virtual reality applications
Mental Health Industry Report
The mental health industry is witnessing remarkable growth, fueled by heightened awareness of mental health issues and the critical importance of mental well-being. This surge is propelled by the recognition of mental disorders' prevalence across all age groups, particularly among adults who are more likely to seek treatment. The industry, segmented by disorders, services, and age groups, focuses significantly on depression due to its global impact. Innovations like teletherapy are enhancing accessibility to mental health care, while integration with primary care aims at early intervention and holistic health. The sector's expansion is supported by technological advancements, research, advocacy, policy changes, and increased funding, underscoring mental health's vital role in overall health. According to Mordor Intelligence™ Industry Reports, the mental health market's share, size, and revenue growth rates are on the rise, with detailed analysis and forecasts available in a free report PDF download, highlighting the mental health industry's growth trajectory.
