Healthcare

Mental Health Market Outlook 2024-2033: Trends and Projections

Overview and Scope

Mental health is a condition of psychological and emotional well-being that enables people to effectively handle life’s obstacles, identify and use their skills, gain knowledge and efficiency, and actively participate in society. It also aids in figuring out how to manage stress, interact with people, and make wise decisions.

Sizing and Forecast

The mental health market size has grown steadily in recent years. It will grow from $402.13 billion in 2023 to $421.24 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to increased mental health awareness, advancements in treatment modalities, government initiatives and policies, rising global burden of mental disorders, workplace mental health programs.

The mental health market size is expected to see steady growth in the next few years. It will grow to $485.78 billion in 2028 at a compound annual growth rate (CAGR) of 3.6%. The growth in the forecast period can be attributed to integration of artificial intelligence, global health crisis response, expansion of telepsychiatry services, focus on early intervention, customized and personalized mental health services. Major trends in the forecast period include public-private partnerships, digital mental health solutions, technological integration in mental healthcare, employer-based mental health initiatives, cultural competency and diversity in mental health services.

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Segmentation & Regional Insights

The mental health market covered in this report is segmented –

1) By Disorder: Schizophrenia, Alcohol Use Disorders, Bipolar Disorder, Depression, Anxiety, Post-Traumatic Stress Disorder, Substance Abuse Disorders, Eating Disorders, Other Disorders
2) By Services: Emergency Mental Health Services, Outpatient Counselling, Home-Based Treatment Services, Inpatient Hospital Treatment Services, Other Services
3) By Age Group: Pediatric, Adult, Geriatric

North America was the largest region in the mental health market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mental health market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

An increase in the prevalence of mental disorders is expected to propel the growth of the mental health market in the coming future. A mental disorder is defined as a clinically significant impairment in an individual’s cognition, emotional control, or behavior. Mental disorders play a significant role in mental health by enabling diagnosis, guiding treatment, informing public health efforts, and driving research. For instance, in September 2022, according to the Centers for Disease Control and Prevention, a US-based public health agency within the Department of Health and Human Services, between 2019 and 2021, the proportion of adults who had undergone any type of mental health therapy increased among both adults of every age (from 19.2% to 21.6%) and those between the age range of 18 and 44 (from 18.5% to 23.2%). Therefore, the increase in the prevalence of mental disorders is driving the mental health market.

Key Industry Players

Major companies operating in the mental health market report are Evernorth Health Inc., Ascension Inc., Universal Health Services Inc., Sevita, Acadia Healthcare Co. Inc., Loma Linda University Health, Promises Behavioral Health, CareTech Holdings Plc, Pyramid Healthcare Inc., Crestwood Behavioral Health Inc., Behavioral Health Network Inc., Modern Health, North Range Behavioral Health, REM Minnesota Inc., Strategic Behavioral Health LLC, Kennebec Behavioral Health, Vita Health Group, Child Mind Institute, Unison Behavioral Health Group Inc., JED Foundation, Brain and Behaviour Foundation , International OCD Foundation, TEAMCare Behavioral Health LLC, The Jason Foundation Inc., Thrive Behavioral Health Inc</b

The mental health market report table of contents includes:

1. Executive Summary
2. Mental Health Market Characteristics
3. Mental Health Market Trends And Strategies
4. Mental Health Market – Macro Economic Scenario
5. Global Mental Health Market Size and Growth
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32. Global Mental Health Market Competitive Benchmarking
33. Global Mental Health Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Mental Health Market
35. Mental Health Market Future Outlook and Potential Analysis
36. Appendix