Mental Health Market worth USD 471.1 billion by 2027

The Market Statsville Group (MSG) publishes the new report on the "Mental Health Market by Disorders (Schizophrenia, Alcohol Use Disorders, Bipolar Disorder, Depression, Anxiety, Post-traumatic Stress Disorder, Substance Abuse Disorders, Eating Disorders, and Other Disorders), by Services (Emergency Mental Health Services, Outpatient Counselling, Home-based Treatment Services, Inpatient Hospital Treatment Services, and Other Services), by Age Group (Pediatric, Adult, and Geriatric), by Region – Global Share and Forecast to 2027". The global mental health market size is expected to grow from USD 383.3 billion in 2020 to USD 471.1 billion by 2027, at a CAGR of 3.5% during the forecast period. The Global Council for Mental Health acts as a forum for mental health, stimulating and lending support to activities aimed at promoting the implementation of the recommendations of the World Health Report 2001 in all regions. Professional NGOs, family members & consumer groups, leaders of religious groups, parliamentarians, labor and business organizations are pursuing activities to improve mental health through this common platform led by WHO. It is engaged in providing technical assistance to Ministries of Health in developing mental health policy and services.

Global Mental Health Market Segmentation

The overall mental health market has been segmented into disorders, services, age group, and region.

• By Disorders (Schizophrenia, Alcohol Use Disorders, Bipolar Disorder, Depression, Anxiety, Post-traumatic Stress Disorder, Substance Abuse Disorders, Eating Disorders, and Other Disorders)
• By Services (Emergency Mental Health Services, Outpatient Counselling, Home-based Treatment Services, Inpatient Hospital Treatment Services, and Other Services)
• By Age Group (Pediatric, Adult, and Geriatric)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Adult, by age group, is estimated to hold the largest market share during the forecast period

The global mental health market is segmented into pediatric, adult, and geriatric based on age group. The adult segment generated the highest revenue of 53.2% of the total global mental health market in 2020. The adult age group is the age group from 18 to 55 years. This age group requires minimal or less time-consuming disease management and monitoring. Stress is one of the most common challenges that almost all adults face. It is also considered one of the most damaging health of the adult. Unmanaged stress leads to burnout, unhealthy habits, and harm mental and physical health.

Millions of individuals worldwide suffer from mental illnesses. One in every four persons in the world will suffer from a mental health problem at some point in their lives. Every year, one billion individuals die by suicide, making it the third greatest cause of mortality among young people. Depression is the greatest cause of disability-related years lost worldwide. Mental health issues, particularly alcoholism, are among the top 10 causes of disability in both developed and developing nations. Depression, in particular, is now rated third in terms of global illness burden and is expected to be first by 2030. People with mental and psychosocial disorders frequently encounter stigma and prejudice and high levels of physical and sexual abuse in a variety of settings, including jails, hospitals, and households.

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North America accounts for the largest market share in the mental health market in 2020

Based on the regions, the global mental health market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, North America accounted for the highest market share of 57.2% in the global mental health market and was anticipated to maintain its dominance throughout the forecast period. North America is the largest mental health market as organizations and employers are increasing employees' productivity and are aiming toward reducing healthcare costs. Mental health has been shifting from health checkups and gym memberships toward broader issues such as stress management and maximizing engagement, joy, and flow at work.

The mental health market experiences steady growth in North America, owing to a rise in chronic diseases such as diabetes and cancer. In addition, obesity in the U.S. has become a major health hazard, resulting in various diseases, specifically increased risk of cancer, coronary artery disease, type 2 diabetes, stroke, and a substantial increase in early mortality and economic costs. Further, an increase in mental health demand is estimated to contribute to the industry's growth positively.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the mental health market. It also consists of the profiles of leading companies such as Universal Health Services, Inc., Acadia Healthcare, Behavioral Health Network, Inc., The MENTOR Network, CareTech Holdings PLC, Pyramid Healthcare, Promises Behavioral Health, North Range Behavioral Health, Ascension Seton, and Strategic Behavioral Health.

Browse complete report: https://www.marketstatsville.com/mental-health-market

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