Senses, Spaces & Sleep, Brain-Boosting Nutrients & Botanicals, Self-Improvement, Meditation & Mindfulness

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DUBLIN, Jan. 18, 2023 (GLOBE NEWSWIRE) — “Global Mental Health Market Size, Segment, Forecast, and Revenue Forecast 2022-2028 by Disorder, Type, Age Group, Service, and Region” report has been added to ResearchAndMarkets.com an offer.

The global mental health market was estimated to be worth around $75 billion in 2017. The mental health market will depend on the increasing prevalence of mental illnesses/disorders, such as depression, anxiety, eating disorders, etc., as a result of busyness. Lifestyles, poor diets, lack of physical activity, and excessive working hours in today’s society. The aging of the elderly population is another contributing factor to the increase in people experiencing mental health problems.

It is estimated to reach USD 100 billion in 2022 and the market size is expected to reach USD 150 billion by 2028 at a compound annual growth rate of approximately 6% over the period 2022-2028.

The mental health market will evolve as a result of more government initiatives and norms supporting mental health, more influence of social media, and greater public awareness of the value of mental health.

With the advent of a new era of specialized education and solutions that cater to each individual well-being through artificial intelligence, mental health has undergone a massive transformation. Without using too many resources, the use of artificial intelligence helps increase people’s well-being. It can also help avoid many health obstacles by instigating behavioral change after studying personality traits and behaviors.

The mental wellness market is constrained by a variety of factors, including restricted access to mental health providers, a lack of skilled mental health care professionals, and a lack of general community awareness of treatment options.

The COVID-19 pandemic and the stringent regulations imposed by different governments has affected the pre-existing mental health symptoms of people and led to setbacks everywhere, which is boosting the growth of the market along with the growing demand for hospital services caused by the rising number of patients requiring mental health solutions to improve care. subjectivity.

Competitive scene

The global mental health market is highly competitive with approximately 500 players that include globally diverse players, regional players as well as a large number of specialized players in the country each with their niche in mental health treatments and therapies.

Global players make up about 15% of competitors, while specialized country players account for the largest number of competitors. Major players in the mental health market have been shifting attention to biomaterials for product manufacturing and are launching significant strategies like mergers, acquisitions, and partnerships with national and international companies to expand the organization’s product portfolios and increase its market share worldwide.

Some of the major players in the market include Acadia Healthcare, Amare Global, Ascension, Behavioral Health Network, Inc. CVS Health, CareTech, Headspace Inc. and Promises Behavioral Health and Pyramid Healthcare Inc. and Universal Health Services, among others.

conclusion

The global mental health market is expected to grow significantly during 2022-2028 due to the importance and widespread acceptance of mental health disorders. Rather than simply living a healthy lifestyle that may have a positive effect on general wellness, today’s expanded concept of mental health aims to give people a sense of control over their health and happiness.

Market vendors are creating programs that address underlying causes including lack of sleep and challenges at home rather than just tertiary treatments because mental health concerns are underreported due to the stigma associated with them.

The latest study focuses on linking cognitive behavioral therapy to smartphones to solve these challenges. Although the market is competitive with about 500 participants, the country-specific players command the dominant share and the regional players also have a significant share.

Key trends by market segment

By Disorder – Depression segment dominated the market in 2021 because depression is a major factor in the overall global burden of disease and a leading cause of disability worldwide.

By Type – The Senses Spaces & Sleep division accounted for the highest market share in 2021 as it includes services, items, and designs that emphasize the connection of the senses and the body, and raise awareness of how environmental stimuli affect a person’s stress levels, mood, and sleep.

By Age Group – The adult segment had the highest market share in 2021 owing to the experience of adults in multiple stages of development from early adulthood to late adulthood, such as gaining personal and financial independence, success, recognition, and security.

By Service – The inpatient hospitalization services segment accounted for the highest market share in 2021 due to growth in the prevalence of mental illness, increase in the number of patients, and a large number of patients using mental health interventions to improve self-care.

Recent developments related to the major players

  • In January 2022, Sayana, an AI-powered mental health and wellness company, was acquired by Headspace Health.

  • In October 2021, Headspace and Ginger completed their merger to create a US$3 billion mental health venture.

Main topics covered in the report

  • A snapshot of the mental health market

  • Industry value chain and ecosystem analysis

  • Market size and segmentation of the mental health market

  • Historical growth of the holistic mental health market and segments

  • Competition scenario for the market and key developments for competitors

  • Porter’s Five Forces Analysis of the Mental Wellness Market Industry

  • Overview, performances of disruptions, strengths and weaknesses of the main competitors

  • The impact of COVID-19 on the overall mental health market

  • Future market forecasts and growth rates of the overall mental wellness market and by segments

  • Market size for segments with historical CAGR and future forecasts

  • Analysis of the mental wellness market in global regions

  • Mental wellness type / supply and consumption / demand pivots in the region

  • Historical and future market growth rates at the regional level for the total market and segments

  • An overview of the prominent emerging competitor companies in the region

The most prominent players mentioned in the report

  • Acadia Healthcare

  • Amari Global

  • Boarding

  • Behavioral Health Network, Inc

  • CVS Health

  • CareTech

  • Headspace Inc

  • Behavioral health promises

  • Pyramid Healthcare Company

  • Comprehensive health services

  • Wysa

  • MindPeers

  • Thanks

  • YourDOST

  • Jiva

Report scope

The time period recorded in the report

by chaos

by type

According to age group

Depending on the service

  • Emergency mental health services

  • Outpatient consultations

  • Treatment services at home

  • Hospital inpatient treatment services

  • others

For more information on this report, visit https://www.researchandmarkets.com/r/sxmsv7

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