Global Mental Health Service Market 2023-2030

Global Mental Health Service Market 2023-2030

Global Mental Health Service Market Size, Share & Trends Analysis Report by Disorder (Schizophrenia, Alcohol Use Disorders, Bipolar Disorder, Depression, Anxiety, Post-Traumatic Stress Disorder, and Others), by Service (Emergency Mental Health Services, Outpatient Counselling, Home-Based Treatment Services, Inpatient Hospital Treatment Services, and Other Services), and by Age Group (Pediatric, Adult, and Geriatric) Forecast Period (2023-2030)

The global mental health service market is anticipated to grow at a CAGR of 7.5% during the forecast period (2023-2030). Rising utilization of mental health service apps owing to their benefits in improving treatment outcomes and lifestyle and increasing awareness regarding mental health as a significant health condition are some of the major factors boosting the market growth. Mental health disorders are usually associated with distress or impairment in important areas of functioning. According to the World Health Organization (WHO), in 2022, 1 in every 8 people, or 970 million people around the globe were living with a mental disorder, with anxiety and depressive disorders as the most common. Therefore, an increase in the need for mental health services globally for the effective treatment of mental health disorders. For instance, in October 2022, the Government of India launched a national telemental health program Tele manas, the digital arm of the ‘District Mental Health Programme. Strengthening mental health service delivery in the country – has reached a significant milestone.

Segmental Outlook

The global mental health service market is segmented on the disorder, service, and age group. Based on the disorder, the market is sub-segmented into schizophrenia, alcohol use disorders, bipolar disorder, depression, anxiety, post-traumatic stress disorder, and others. Based on the service, the market is sub-segmented into emergency mental health services, outpatient counseling, home-based treatment services, inpatient hospital treatment services, and other services. Further, on the basis of age group, the market is sub-segmented into pediatric, adult, and geriatric. Among the disorders, the depression sub-segment is anticipated to hold a considerable share of the market owing to the rise in Isolation and loneliness resulting in the surge in depression cases globally.

The Emergency Mental Health Services Sub-Segment is Anticipated to Hold a Considerable Share of the Global Mental Health Service Market

Among the services, the emergency mental health services sub-segment is expected to hold a considerable share of the global mental health service market. The segmental growth is attributed to the growing influence of the Non-emergent use of the emergency department (ED) is a growing national concern, accounting for a usage rate of 42.8 visits per 100 people per year. The use of EDs for non-emergent care results in overcrowding, strains limited resources, and can result in fragmented care. Rates are higher in urban than in rural settings. Studies of completed suicides show that 90-94.0% of the patients are mentally ill while committing the act. Emergency department (ED) utilization has increased due to factors such as admissions for mental health conditions. For instance, in July 2020, Daybreak Health launched online emergency mental health therapy for teens amid the pandemic’s mental health crisis. with a team of ten trained mental health clinicians.

Regional Outlook

The global mental health service market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, North America is anticipated to hold a prominent share of the market across the globe, owing to the growing adoption of smartphones, developments in coverage networks, and growing penetration of the internet and social media are fueling the market growth. The key market player includes Calm.com, Inc. Mental Health America, Lyra Health, and Spring Health among others.

The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Mental Health Service Market

Among all regions, the Asia-Pacific regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to a rise in the adoption of advanced technologies and an increase in awareness of mental health among healthcare professionals and individuals working in the corporate industry. Moreover, the upsurge in mental health activities in the healthcare sector to develop novel services and the presence of major players operating in the region fuel the growth of the market. The region is witnessing an increase in mental health disorders such as anxiety, depression, and substance abuse. This rise in mental health concerns is driving the need for professional intervention and treatment.

Governments in the Asia-Pacific region are increasingly recognizing the importance of mental health and are investing in initiatives to enhance mental health services. And awareness campaign. These efforts further propel the market growth. Furthermore, the integration of telemedicine, online therapy platforms, and mental health apps has made mental health services more accessible and convenient, especially in remote or underserved areas.

Market Players Outlook

The major companies serving the mental health service market include Johnson & Johnson, Universal Health Services, Inc., Acadia Healthcare, Apollo Neuroscience, Inc., Pyramid Healthcare Inc. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in August 2023, Mantra Health, the clinically-informed digital mental health provider for higher education, announced an innovative new partnership with Charlie Health, the nation’s leading provider of virtual high-acuity mental healthcare for teens and young adults.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global mental health service market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.