Mental Health Market Size (2024 - 2029)

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 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.