Mental Health Market Outlook 2031
The global mental health market size was valued at USD 396.74 Billion in 2022 and is likely to reach USD 540.72 Billion by 2031, expanding at a CAGR of 3.5% during the forecast period, 2023 – 2031. The growth of the market is attributed to the increasing prevalence of mental disorders and growing awareness regarding mental health across the globe.
Mental health refers to the emotional, psychological, and social well-being of an individual. It affects thoughts, actions, and feelings of an individual. Biological factors, life experiences, and family history contribute to mental health problems.
Mental health problems are characterized by low mood, absence of positive emotions, and range of cognitive, emotional, physical, and behavioral symptoms. According to the World Health Organization (WHO), depression is a common mental health disorder with around 5% of adults suffering globally. The WHO states depression as a major contributor to overall global burden of disease.
The COVID-19 pandemic situation aids in the expansion of the global mental health market, due to increased cases of mental illnesses and disruption in medication, treatment, and lifeline support services across the globe. The COVID-19 situation is anticipated to trigger pre-existing mental health conditions, which drives the global mental health market.
Mental Health Market Trends, Drivers, Restraints, and Opportunities
- Rising geriatric population is expected to drive the market during the forecast period.
- Increasing awareness regarding mental health is estimated to fuel the market.
- Technological advancement is projected to expand the market in the coming years.
- Growing prevalence of chronic diseases boosts the market.
- Rising cases of substance and alcohol abuse are estimated to spur the market during the forecast period.
- Increasing initiatives and fundings to support mental health services fuels the market.
- Surging number of mental health patients is projected to drive the market during the forecast period.
- Low rate of adoption of Electronic Health Records (EHR), concerns regarding data privacy, and lack of mental health professionals in developing countries are expected to hinder the growth of the market in the coming years.
- High costs of mental health treatments and negative perception regarding them hampers the growth of the market.
- Rising adoption of technological advancements in developing countries is expected to offer growth opportunities to key market players.
Scope of Mental Health Market Report
The report on the global mental health market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Mental Health Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types of Disorders (Bipolar Disorder, Schizophrenia, Alcohol-use Disorder, Post-traumatic Stress Disorder, Substance Abuse Disorder, Eating Disorder, Depression, Anxiety, and Others), Services (Outpatient Counselling, Inpatient Hospital Treatment Services, Emergency Mental Health Services, Home-based Treatment Services, and Others), Age Groups (Pediatric, Adult, and Geriatric), and End-users (Hospitals, Outpatient Clinics, Rehabilitation Centers, and Homecare Setting)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Pyramid Healthcare, Inc.; Universal Health Services, Inc., Strategic Behavioral Health, LLC; Ascension Seton; Behavioral Health Network, Inc.; Sevita; Universal Health Services, Inc.; Acadia Healthcare; CareTech Holdings PLC; North Range Behavioral Health; Promises Behavioral Health; and Others
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Mental Health Market Segment Insights
Disorder Segment Analysis
In terms of types of disorder, the market is divided into bipolar disorder, schizophrenia, alcohol-use disorder, post-traumatic stress disorder, substance abuse disorder, eating disorder, depression, anxiety, and others. The depression segment is expected to drive the market during the forecast period, due to growing number of depression cases around the globe.
Physical health and mental health are interrelated; therefore, rising prevalence of chronic diseases are anticipated to boost the depression segment in the coming years. The substance abuse disorder segment is estimated to expand rapidly in the forecast period, owing to rising cases of drug and substance abuse among young population.
Services Segment Analysis
Based on services, the market is segregated into outpatient counselling, inpatient hospital treatment services, emergency mental health services, home-based treatment services, and others. The inpatient hospital treatment service segment is projected to drive the market during the forecast period, as long hospital stays and re-admissions of patients in inpatient hospital facilities have a high potential of revenue generation for hospitals.
The home-based treatment services segment is anticipated to expand rapidly in the coming years, owing to comfort, security, and convenience provided in homecare setting.
Age Group Segment Analysis
On the basis of age groups, the market is divided into pediatric, adult, and geriatric. The adult segment is estimated to drive the market, due to rising cases of mental health disorders among adult age group. Stressful life situations, chronic diseases, and substance or alcohol abuse are some of the causes for increasing mental disorder cases among adults, which drives the market. The geriatric segment is estimated to expand in the coming years, due to rising cases of depression among the geriatric age group.
End-Users Segment Analysis
In terms of end-users, the market is segregated into hospitals, outpatient clinics, rehabilitation centers, and homecare setting. The outpatient clinics segment is projected to expand at a rapid pace during the forecast period, due to rapid technological advancements and increasing penetration of internet in outpatient clinics. Rising awareness regarding mental health and mental health treatments provided by outpatient clinics boost the market.
Regional Analysis
Based on regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to register a high CAGR during the forecast period, due to rising adoption of advanced technologies and growing awareness of mental health among healthcare professionals and individuals.
The presence of key market players in the region boosts the market, as they constantly develop mental healthcare services. Increasing healthcare awareness, developing healthcare infrastructure, and rising adoption of advanced healthcare facilities are anticipated to fuel the market in Asia Pacific in the coming years.
Segments
The global mental health market has been segmented on the basis of
Types of Disorders
- Bipolar Disorder
- Schizophrenia
- Alcohol-use Disorder
- Post-traumatic Stress Disorder
- Substance Abuse Disorder
- Eating Disorder
- Depression
- Anxiety
- Others
Services
- Outpatient Counselling
- Inpatient Hospital Treatment Services
- Emergency Mental Health Services
- Home-based Treatment Services
- Others
Age Groups
- Pediatric
- Adult
- Geriatric
End-users
- Hospitals
- Outpatient Clinics
- Rehabilitation Centers
- Homecare Setting
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
The global mental health market is highly competitive with the presence of key players such as Pyramid Healthcare, Inc.; Universal Health Services, Inc., Strategic Behavioral Health, LLC; Ascension Seton; Behavioral Health Network, Inc.; Sevita; Universal Health Services, Inc.; Acadia Healthcare; CareTech Holdings PLC; North Range Behavioral Health; Promises Behavioral Health; and others, who use strategies such as mergers, acquisitions, partnerships, collaborations, and product launches to dominate the market. For example,
- In March 2021, Acadia Healthcare announced a collaboration with Geisinger Health System, a regional healthcare provider, to build new facilities to provide comprehensive inpatient services.
- In February 2021, Universal Health Services, Inc. partnered with Southeast Health, a healthcare services provider, to provide accessible and advanced healthcare services in southeast Missouri, US.
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