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The mental health market share is expected to increase to USD 201.41 billion at a CAGR of 9.06% from 2021 to 2026
This market research and growth report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this market growth analysis report extensively covers mental healthcare market segmentation by service (emergency health services, outpatient counseling, and inpatient hospital treatment services) and geography (North America, Europe, Asia, and Rest of World (ROW)).
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The global mental health market is experiencing significant growth. Increasing awareness about mental health issues is driving the demand for mental health services and products. Technological advancements, such as telemedicine and digital mental health platforms, are revolutionizing the way mental health services are delivered.
Pharmaceutical companies are developing innovative drugs and treatments for mental illnesses, expanding the treatment options available. The COVID-19 pandemic has further highlighted the importance of mental health, leading to an increased focus on investing in mental health solutions.
The adoption of global awareness of health disorders and mental health conditions propels market growth. A 2020 Lancet journal study on depression and anxiety eating disorders, bipolar disorder, and stress, worldwide, triggered by the COVID-19 pandemic, revealed an alarming 75.2 million people dealing with anxiety disorders in 2020?an increase of 25.6% from 2019. The high prevalence rate of mental illness positively impacts the growth of the market during the forecast period.
The rise of virtual behavioral services is a pivotal trend fueling market growth. Telepsychiatry, using telecommunications for remote psychological support and treatments, enhances access to care, especially in underserved areas. Established vendors now offer tele-mental health services alongside inpatient and residential treatment, which is an innovation contributing to market growth during the forecast period.
Government regulations pose a significant challenge to market growth. Vendors navigate complex laws, licensure standards, and privacy regulations, with violations risking exclusion from government healthcare programs and substantial penalties. Stringent government intervention present hurdles for the global mental health industry during the forecast period.
This behavioral health market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The prevention actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the market as a part of the global pharmaceuticals healthcare industry. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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39% of the market's growth will originate from North America during the forecast period. The US is the key market for the market in North America. Market growth in this region will be slower than the growth of the market in Europe and Asia.
The growing awareness of the importance and the rise in substance abuse will facilitate the market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of the COVID-19 pandemic in early 2020 had a negative impact on the of many people. Moreover, the rise in mental health disorders during the lockdowns imposed in 2020 and 2021 provided opportunities for regional market vendors to offer improved services, which will positively impact the growth of the market in the region during the forecast period.
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The market share growth in the emergency services segment will be significant during the forecast period. Psychological emergencies are considered emergency situations that require immediate attention. Such patients need to be seen by healthcare providers immediately during their regular counseling hours. Moreover, patients facing a crisis or emergency can even choose to speak to a nurse, or mental health nurse, over the phone. These patients can then be referred to a liaison psychiatry service or local crisis resolution and home treatment team (CRHT). Such factors will drive the emergency services segment growth during the forecast period.
Market Analysis
The well-being diverse population is a focal point in the dynamic mental health landscape. The stress management, therapy, and medication is crucial for wellness, with accurate diagnosis and the integration of mindfulness and psychology playing essential roles in intervention and stigma reduction. The statistics underscores the urgency for effective solutions, while emerging technologies bring innovation, shaping trends and growth opportunities. Government initiatives, despite challenges, play a pivotal role, influencing accessibility and quality. The future outlook hinges on advancements and collaborative efforts for global mental health.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.
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Mental Health Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.06% |
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Market growth 2022-2026 |
USD 201.41 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
6.44 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 39% |
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Key consumer countries |
US, Sweden, Germany, China, and India |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Acadia Healthcare Co. Inc., American Hospital Association, Ascension, Behavioral Health Network Inc., CareTech Holdings Plc, Cigna Corp., Crestwood Behavioral Health Inc., Kennebec Behavioral Health, LOMA LINDA UNIVERSITY HEALTH, North Range Behavioral Health, Promises Behavioral Health, Pyramid Healthcare Inc., REM Minnesota, Strategic Behavioral Health, TEAMCare Behavioral Health LLC, The Jason Foundation Inc., Thrive Behavioral Health Inc., Unison Behavioral Health, and Universal Health Services Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Service
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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