The Business Research Company’s report on the Mental Wellness Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the mental wellness industry?
The increasing incidence of mental health disorders is expected to propel the growth of the mental wellness market going forward. The mental health disorders are a clinically substantial impairment in a person’s cognition, emotional regulation, or conduct. It is usually linked to distress or functional impairment in key areas. The rising incidence of mental disorders expands the mental wellness market as it aids in minimizing mental disorders and cures them. For instance, in November 2022, according to the Health and Social Care Information Centre, a UK-based federal body that offers content, data, and computer systems for experts, physicians, and controllers in the social and healthcare sectors, the proportion of 17 to 19-year-olds with a suspected mental disorder grew from 17.4% in 2021 to 25.7% in 2022. Therefore, the increasing incidence of mental health disorders is driving the mental wellness market.
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What is the estimated market size of the mental wellness sector by 2029, based on current forecasts?
The mental wellness market size has grown strongly in recent years. It will grow from $174.15 billion in 2024 to $186.94 billion in 2025 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to increasing mental health awareness, stigma reduction, corporate wellness programs, advancements in telehealth, government initiatives.
The mental wellness market size is expected to see strong growth in the next few years. It will grow to $262.65 billion in 2029 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to expanding role of wearable devices, global mental health advocacy, focus on preventive mental health, virtual reality therapy, tailored mental wellness solution. Major trends in the forecast period include digital mental health platforms, corporate mental health programs, integration of artificial intelligence (AI), cultural diversity and inclusivity, holistic wellness ecosystems.
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Who are the top players in the mental wellness market?
Major companies operating in the mental wellness market include CVS Health Corporation, Ascension Health Alliance, Fitbit Inc., BetterHelp Inc., Vitality Group Holdings Limited, Pyramid Healthcare Inc., Calm.com Inc., Virgin Pulse Inc., Hinge Health Inc., Headspace Inc., CareTech Holdings Inc., Franklin Covey Co, Acadia Healthcare Company Inc., Behavioral Health Network Inc., CuraLinc Healthcare LLC, Promises Behavioral Health LLC, Aduro International LLC, SkillPath, Amare Global LLC, Castlight Health Inc., Happify Health Inc., Wellsource Inc., HealthCheck360 LLC, Sanvello Health Inc., Flow Neuroscience AB, LifeDojo Inc., Prosoma Inc., Clementine Holdings Inc., Sesh Labs Inc.
What are the major trends in the mental wellness market?
Product innovation is the key trend gaining popularity in the mental wellness market. Major companies operating in the mental wellness market are focused on developing innovative products to strengthen their position in the market. For instance, in August 2022, Swanson Health, a US-based manufacturer of wellness products like vitamins and nutraceuticals launched the innovative Swanson W/I/O (Wellness Inside and Out). Swanson W/I/O (Wellness Inside and Out) is a handpicked range of nutritional supplements for self-care and mental well-being. The product line is developed to assist customers in creating a customized personal kit to connect sleep, anxiety, and cognition, three crucial parts of mental wellness. Swanson W/I/O is committed to elevating mental well-being and ensuring that everyone can afford, acquire, and use high-quality goods.
Which geography holds the highest mental wellness market share?
North America was the largest region in the mental wellness market in 2024. The regions covered in the mental wellness market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How do different segments contribute to the overall expansion of the mental wellness market?
The mental wellness market covered in this report is segmented –
1) By Type: Senses Spaces, Sleep, Brain Boosting Nutraceuticals And Botanicals, Self-Improvement, Meditation and Mindfulness
2) By Service: Emergency Mental Health Services, Outpatient Counselling, Home-based Treatment Services, Inpatient Hospital Treatment Services, Other Services
3) By Age: Adult, Geriatric, Teenager
4) By Disorder: Depression, Anxiety, Schizophrenia, Substance use disorder, Bipolar disorder, Alcohol use disorder, Post-traumatic stress disorder, Eating disorder, Other Disorder
Subsegments:
1) By Senses Spaces: Aromatherapy Products, Sound Therapy Solutions, Light Therapy Devices
2) By Sleep: Sleep Aids and Supplements, Sleep Tracking Devices, Sleep Environment Enhancements
3) By Brain Boosting Nutraceuticals and Botanicals: Nootropics, Herbal Supplements, Omega-3 Fatty Acids
4) By Self-Improvement: Personal Development Courses, Coaching and Mentoring Services, Journaling and Self-Reflection Tools
5) By Meditation and Mindfulness: Guided Meditation Apps, Mindfulness Training Programs, Breathing Exercises and Tools
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How is the mental wellness market defined, and what are its core characteristics?
Mental wellness refers to a condition of health that includes a person’s social, emotional, and psychological well-being. It comprises having the capacity to handle stress, uphold wholesome relationships, and make wise decisions. It is a crucial element of health and well-being that supports both individual and group capacity to decide, form connections, and influence the world.
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