The latest report by IMARC Group, titled, “Mental Health Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the mental health industry growth. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global mental health market size reached US$ 418.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 508.9 Billion by 2028, exhibiting a growth rate (CAGR) of 3.4% during 2023-2028. Mental health is a person’s overall psychological and emotional well-being. It is essential to our health and impacts our thoughts, feelings, and behavior. Mental health problems can vary from mild to severe and affect anyone, regardless of age, gender, or background. Common mental health disorders are anxiety, depression, bipolar disorder, schizophrenia, and eating disorders. Mental health issues can significantly affect a person’s life, affecting their ability to function at work or school, form and maintain relationships, and engage in daily activities. It is vital to prioritize mental health and seek help when needed. Treatment options for mental health issues include therapy, medication, and lifestyle changes such as exercise, stress management, and a healthy diet. It is essential to raise awareness and promote understanding and acceptance of mental health issues to ensure everyone can access the care and support they need to maintain good mental health.
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The global market is majorly driven by the increasing awareness of mental health issues. In line with this, the growing demand for effective treatments is significantly contributing to the market growth. Furthermore, the emerging popularity of digital therapeutics is creating a positive outlook for the market. Apart from this, the rising prevalence of mental health disorders globally is positively influencing the market. Moreover, rapid advancements in technology and innovative therapies are catalyzing the market. The escalating government and private funding for mental health research and treatment are strengthening the market. The expansion of healthcare infrastructure and facilities worldwide is bolstering the market expansion.
Competitive Landscape with Key Players:
- Acadia Healthcare
- Ascension Seton
- Behavioral Health Network Inc.
- CareTech Holdings PLC
- North Range Behavioral Health
- Promises Behavioral Health
- Pyramid Healthcare
- Strategic Behavioral Health LLC
- Sevita (The MENTOR Network)
- Universal Health Services Inc.
Industry Demand:
Growing demand for telehealth and telemedicine services is propelling the market. Besides, increasing insurance coverage for mental health services and introducing new and improved medications for mental health disorders are fueling the market. The rapid adoption of evidence-based therapies such as cognitive-behavioral therapy and the rising usage of online therapy and counseling services are stimulating the market. Growing acceptance of mental health as a part of overall wellness and the escalating number of people seeking treatment for mental health issues offer numerous market opportunities. In addition, the rapid uptake of electronic health records for better patient management and heavy investment in mental health technology startups are providing a boost to the market.
Key Market Segmentation:
Breakup by Disorder:
- Schizophrenia
- Alcohol Use Disorders
- Bipolar Disorder
- Depression and Anxiety
- Post-traumatic Stress Disorder
- Substance Abuse Disorders
- Eating Disorders
- Others
Breakup by Service:
- Emergency Mental Health Services
- Outpatient Counselling
- Home-based Treatment Services
- Inpatient Hospital Treatment Services
- Others
Breakup by Age Group:
- Pediatric
- Adult
- Geriatric
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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