Mental Health Market: Global Industry Analysis and Forecast (2024-2030)

  • The Mental Health Market size was valued at USD 412.96 Bn. in 2023 and the total Global Mental Health revenue is expected to grow at a CAGR of 3.3% from 2024 to 2030, reaching nearly USD 532.09 Bn. by 2030.

  • Format : PDF | Report ID : SMR_1949

Mental Health Market Overview

Mental health is a state of psychological well-being or the absence of any mental illness. It refers to an individual's psychological level of functioning at a suitable behavioral and emotional adjustment level. The demand for mental health services and treatments is increasing because of the rising global prevalence of conditions like depression, anxiety, and substance abuse disorders.

 

The Mental Health Market report provides an extensive analysis of changing market trends, value chains, top segments, top investment pockets, regional scenarios, and competitive landscape. The global mental health market is driven by a rise in the prevalence of chronic diseases and behavioral health issues, alongside increased awareness of stress management and mental disorders through education and advocacy for human rights. The market challenges such as the rising cost of mental health programs and substance abuse pose obstacles to market growth. The available potential in developing countries offers promising opportunities for expansion in the years ahead. The mental health market primarily focuses on the prevention, treatment, and management of mental health disorders through various products and services. It accurately outlines the market's current dimensions, growth patterns, size, and trends that use significant influence. It strongly identifies the crucial factors boosting the growth of the Mental Health market and highlights the increasing opportunities.

 

  • According to SMR, In 2021, a total of 960.8 tons of psychotropic substances under international control were produced. Among these, around 740 tons were sedatives, 171 tons were stimulants, and 48 tons consisted of other types of drugs such as hallucinogens and analgesics. Phenobarbital took the lead in production, representing a quarter of the total output at 263 tons. Diazepam emerged as the most commonly traded substance, with imports documented from 167 different countries.

 

  • According to SMR, Among people in the U.S. aged 18-44, in the United States, nearly 600,000 hospitalizations occur each year due to psychosis spectrum and mood disorders. Serious mental illness results in $193.2 billion in lost earnings annually across the U.S. economy.

Mental Health Market

 

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Mental Health Market Dynamics

Rising Prevalence of Mental Health Disorders boosting the Market

The increasing prevalence of mental disorders has played a significant role in driving market growth. Improved awareness, changes in diagnostic criteria, and societal shifts have contributed to higher demand for mental health services like therapy, counseling, and psychiatric services. Improve awareness updated diagnostic standards, and evolving societal norms have all played a role in the increased necessity for mental health services such as therapy, counseling, and psychiatric care. Also, with the significant increase in awareness and acceptance of mental health issues, more individuals are looking for help for their mental health concerns, driving demand for mental health services and products.

 

Mental health disorders such as anxiety, depression, and PTSD are becoming increasingly common worldwide. Factors such as stress, trauma, social isolation, and economic instability contribute to the rising prevalence of these disorders, creating a greater need for mental health interventions. The growing number of patients creates pressure on the existing healthcare system. It leads to a focus on innovation in areas like telehealth, digital therapeutics, and alternative treatment approaches.

 

  • According to Stellar Market Research, the prevalence of mental health problems is increasing at a rate of 13% per year globally. Anxiety and depression are the most common issues, affecting 264 million and 280 million people globally respectively.
  • According to SMR, Suicide is the 2nd leading cause of death among people aged 10-14 and the 3rd leading cause of death among those aged 15-24 in the U.S.
  • ?Suicide is the 12th leading cause of death in the United States.
  • 46% of individuals who die by suicide had a diagnosed mental health condition.

Mental Health Market1

Mental Health Market Segment Analysis

Based on the Age Group, the Adult age group segment held the largest market share in the Mental Health Market in 2023. According to the SMR analysis, the segment is expected to grow during the forecast period and maintain its dominance till 2030. The adult age group is dominant because Adults often face various life stressors and lifestyle factors that contribute to the development or exacerbation of mental health problems. These include work-related stress, financial pressures, relationship issues, and the demands of balancing personal and professional responsibilities. Pediatric mental health services include assessments and treatment for a range of conditions, such as ADHD, anxiety disorders, depression, and behavioral disorders. This segment has become the fastest-growing segment in Mental Health Market.

 

  • Approximately 21.1% of individuals feeling homelessness in the United States have a serious mental health condition.
  • Among people in the U.S. under age 18, depressive disorders are the most common cause of hospitalization (after excluding hospitalization relating to pregnancy and birth). 65.4% of U.S. adults with serious mental illness received treatment in 2021 as well as 50.6% of U.S. youth aged 6-17 with a mental health disorder received treatment.

Mental Health Market2

The rising costs of mental health programs and substance abuse pose obstacles to market growth

The rising costs associated with mental health programs and substance abuse treatment pose significant obstacles to the growth of the mental health market. The high cost of mental health treatments, including medication, therapy, and hospitalization, can be a barrier to access for many individuals. This limits market growth, as individuals might be unable to afford necessary treatments. Many mental health disorders and substance abuse issues necessitate extended periods of treatment and support, resulting in substantial expenses that can add up over time. This ongoing financial burden can discourage individuals from seeking or continuing treatment, impacting market growth.

 

The limited availability and accessibility of mental health services, particularly in developing countries, is a major restraint for the global mental health market. The number of individuals who receive treatment for their mental health disorders limits market growth.

 

Mental Health Market Regional Analysis

North America dominated the Mental Health Market, with a leading market share of 47.98% in 2023. The region is expected to continue growing and maintain its dominance by 2030. The United States has been consistently implementing and advancing evidence-based treatment modalities for mental health disorders, such as cognitive-behavioral therapies (CBT), medication, psychotherapy, and integrative approaches. Both the United States and Canada have significant populations dealing with various mental health conditions, leading to a high demand for mental health services.

 

The mental health market has been driven by advanced healthcare systems and the increasing prevalence of mental disorders. There is also a growing awareness of mental health issues and efforts to reduce stigma in North America. The aging population in North America, especially in the United States and Canada, has contributed to the rising demand for mental health services, as the elderly are more susceptible to conditions like dementia and depression. Government and private entities in North America have been investing significantly in mental health research, developing new therapies, and improving access to mental health services.

 

  • According to SMR, 11.9% of U.S. adults with serious mental health illness insurance had coverage in 2021.
  • According to SMR, The rate of unemployment is higher among U.S. adults with mental health illness (7.4%) compared to those without (4.6%).

Mental Health Market3

Mental Health Market Competitive Landscape

The global mental health market is highly competitive and fragmented, with several major players competing for market share. Several smaller companies and startups are operating in the mental health market. These companies are focused on developing innovative new treatments and technologies for mental health disorders and are often able to move more quickly and adapt more easily to changing market conditions. Overall, the competitive landscape in the mental health market is rapidly evolving, with new players and technologies continually entering the market.

 

  1. 21 May 2024, The American Foundation for Suicide Prevention (AFSP) will honor its 2024 Research Award recipients at its annual Research Dinner on May 22 at the Conrad Hotel in New York City. The honorees include the late Barbara H. Stanley, PhD, and Jeff Bridge, PhD.
  2. In April 2024, Spectrum.Life, a renowned provider of digital health solutions focusing on mental health, primary care, and wellbeing, revealed a strategic partnership with Duality Healthcare, the fastest-growing primary health and urgent care GP provider in Northern Ireland. This collaboration represents a major step forward in enhancing accessibility to mental healthcare services across Northern Ireland.
  3. In September 2022, the WHO and the International Labour Organization (ILO) published the Mental Health at work 2022 policy brief, providing a pragmatic framework for implementing the recommendations of the WHO guidelines on mental health at work
  4. In June 2023, Mount Sinai Health System inaugurated the newly constructed Mount Sinai-Behavioral Health Center, located at 45 Rivington Street in Lower Manhattan. The facility will transform behavioral health care in New York City by serving as a comprehensive one-stop shop for mental health care, substance use treatment, and primary care.
  5. In June 2023,  Comvest Partners has announced the acquisition of Your Behavioral Health, a behavioral health services platform based in Torrance, California. Comvest will support Your Behavioral Health during its next stage of growth through investments in key technologies and additional outpatient and telehealth services..

Mental Health Market Scope

Market Size in 2023

USD 412.96Bn.

Market Size in 2030

USD 532.09  Bn.

CAGR (2024-2030)

3.3 %

Historic Data

2018-2022

Base Year

2023

Forecast Period

2024-2030

Segments

By Disorder

Schizophrenia

Alcohol Use Disorders

Bipolar Disorder

Depression and Anxiety

Post-traumatic Stress Disorder

Substance Abuse Disorders

Eating Disorders

Other

 

By Services

Emergency Mental Health Services

Outpatient Counselling

Home-based Treatment Services

Inpatient Hospital Treatment Services

Other

By Age Group

Pediatric

Adult

Geriatric

Regional Scope

North America(United States), Canada, and Mexico

Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe

Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC

Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa

South America – Brazil, Argentina, Rest of South America

 

Key Player in the Mental Health Market

  1. Acadia Healthcare ( Franklin, U.S.)
  2. Pfizer Inc. (US)
  3. Johnson & Johnson (US)
  4. Eli Lilly and Company (US)
  5. Bristol-Myers Squibb (US)
  6. GlaxoSmithKline (UK)
  7. AstraZeneca (UK)
  8. Allergan plc (Ireland)
  9. BHG Hoding LLC. (U.S.)
  10. Merck & Co., Inc. (US)
  11. Takeda Pharmaceutical Company Limited (Japan)
  12. Otsuka Holdings Co., Ltd. (Japan)
  13. Novartis International AG (Switzerland)
  14. Sanofi S.A. (France)
  15. Lundbeck A/S (Denmark)
  16. Teva Pharmaceutical Industries Ltd. (Israel)
  17. Mylan N.V. (Netherlands)
  18. AbbVie Inc. (US)
  19. Boehringer Ingelheim International GmbH (Germany)
  20. H. Lundbeck A/S (Denmark)
  21. Sun Pharmaceutical Industries Ltd. (India)
  22. Alkermes plc (Ireland)
  23. XX.Inc.


Frequently Asked Questions

The Mental Health Market is expected to grow at a CAGR of 3.3 % during the forecast period of 2023 to 2030.

1.    Mental Health Market: Research Methodology 
2.    Mental Health Market: Executive Summary
3.    Mental Health Market: Competitive Landscape
4.    Potential Areas for Investment

4.1. Stellar Competition Matrix
4.2. Competitive Landscape
4.3. Key Players Benchmarking
4.4. Market Structure
4.4.1.    Market Leaders 
4.4.2.    Market Followers
4.4.3.    Emerging Players

4.5. Consolidation of the Market
4.6. Global Import-Export Analysis
5.    Mental Health Market: Dynamics
5.1. Market Driver 
5.1.1.    Increased Focus on Sterility 
5.1.2.    Technological Advancements in single-use filters
5.1.3.    Regulatory Requirements on Product Quality & Safety

5.2. Market Trends by Region
5.2.1.    North America
5.2.2.    Europe
5.2.3.    Asia Pacific
5.2.4.    Middle East and Africa
5.2.5.    South America

5.3. Market Drivers 
5.4. Market Restraints
5.5. Market Opportunities
5.6. Market Challenges
5.7. PORTER’s Five Forces Analysis
5.8. PESTLE Analysis
5.9. Strategies for New Entrants to Penetrate the Market
5.10. Regulatory Landscape by Region
5.10.1.    North America
5.10.2.    Europe
5.10.3.    Asia Pacific
5.10.4.    Middle East and Africa
5.10.5.    South America

6.    Mental Health Market Size and Forecast by Segments (by Value Units)
6.1. Mental Health Market Size and Forecast, by Disorder (2023-2030)
6.1.1.    Schizophrenia
6.1.2.    Alcohol UseDisorders
6.1.3.    Bipolar Disorder
6.1.4.    Depression and Anxiety
6.1.5.    Post-traumatic stress Disorder
6.1.6.    Substance Abuse Disorder
6.1.7.    Eating Disorders
6.1.8.    Others 

6.2. Mental Health Market Size and Forecast, by Services (2023-2030)
6.2.1.    Emergency Mental Health Services
6.2.2.    Outpatient Counselling
6.2.3.    Home-based Treatment Services
6.2.4.    Inpatient Hospital Treatment Services
6.2.5.    Others

6.3. Mental Health Market Size and Forecast, by Age Group (2023-2030)
6.3.1.    Pediatric
6.3.2.    Adult
6.3.3.    Geriatric 

6.4. Mental Health Market Size and Forecast, by Region (2023-2030)
6.4.1.    North America
6.4.2.    Europe
6.4.3.    Asia Pacific
6.4.4.    Middle East and Africa
6.4.5.    South America

7.    North America Mental Health Market Size and Forecast (by Value in USD Billion)
7.1. North America Mental Health Market Size and Forecast, by Disorder (2023-2030)
7.1.1.    Schizophrenia
7.1.2.    Alcohol UseDisorders
7.1.3.    Bipolar Disorder
7.1.4.    Depression and Anxiety
7.1.5.    Post-traumatic stress Disorder
7.1.6.    Substance Abuse Disorder
7.1.7.    Eating Disorders
7.1.8.    Others 

7.2. North America Mental Health Market Size and Forecast, by Services (2023-2030)
7.2.1.    Emergency Mental Health Services
7.2.2.    Outpatient Counselling
7.2.3.    Home-based Treatment Services
7.2.4.    Inpatient Hospital Treatment Services
7.2.5.    Others

7.3. Mental Health Market Size and Forecast, by Age Group (2023-2030)
7.3.1.    Pediatric
7.3.2.    Adult
7.3.3.    Geriatric

7.4. North America Mental Health Market Size and Forecast, by Country (2023-2030)
7.4.1.    United States
7.4.2.    Canada
7.4.3.    Mexico

8.    Europe Mental Health Market Size and Forecast (by Value in USD Billion)
8.1. Europe Mental Health Market Size and Forecast, by Disorder (2023-2030)
8.1.1.    Schizophrenia
8.1.2.    Alcohol UseDisorders
8.1.3.    Bipolar Disorder
8.1.4.    Depression and Anxiety
8.1.5.    Post-traumatic stress Disorder
8.1.6.    Substance Abuse Disorder
8.1.7.    Eating Disorders
8.1.8.    Others 

8.2. Europe Mental Health Market Size and Forecast, by Services (2023-2030)
8.2.1.    Emergency Mental Health Services
8.2.2.    Outpatient Counselling
8.2.3.    Home-based Treatment Services
8.2.4.    Inpatient Hospital Treatment Services
8.2.5.    Others

8.3. Mental Health Market Size and Forecast, by Age Group (2023-2030)
8.3.1.    Pediatric
8.3.2.    Adult
8.3.3.    Geriatric

8.4. Europe Mental Health Market Size and Forecast, by Country (2023-2030)
8.4.1.    UK
8.4.2.    France
8.4.3.    Germany
8.4.4.    Italy
8.4.5.    Spain
8.4.6.    Sweden
8.4.7.    Austria
8.4.8.    Rest of Europe

9.    Asia Pacific Mental Health Market Size and Forecast (by Value in USD Billion)
9.1. Asia Pacific Mental Health Market Size and Forecast, by Disorder (2023-2030)
9.1.1.    Schizophrenia
9.1.2.    Alcohol UseDisorders
9.1.3.    Bipolar Disorder
9.1.4.    Depression and Anxiety
9.1.5.    Post-traumatic stress Disorder
9.1.6.    Substance Abuse Disorder
9.1.7.    Eating Disorders
9.1.8.    Others 

9.2. Asia Pacific Mental Health Market Size and Forecast, by Services (2023-2030)
9.2.1.    Emergency Mental Health Services
9.2.2.    Outpatient Counselling
9.2.3.    Home-based Treatment Services
9.2.4.    Inpatient Hospital Treatment Services
9.2.5.    Others

9.3. Mental Health Market Size and Forecast, by Age Group (2023-2030)
9.3.1.    Pediatric
9.3.2.    Adult
9.3.3.    Geriatric

9.4. Asia Pacific Mental Health Market Size and Forecast, by Country (2023-2030)
9.4.1.    China
9.4.2.    S Korea
9.4.3.    Japan
9.4.4.    India
9.4.5.    Australia
9.4.6.    Indonesia 
9.4.7.    Malaysia
9.4.8.    Vietnam
9.4.9.    Taiwan
9.4.10.    Bangladesh 
9.4.11.    Pakistan
9.4.12.    Rest of Asia Pacific

10.    Middle East and Africa Mental Health Market Size and Forecast (by Value in USD Billion)
10.1. Middle East and Africa Mental Health Market Size and Forecast, by Disorder (2023-2030)
10.1.1.    Schizophrenia
10.1.2.    Alcohol UseDisorders
10.1.3.    Bipolar Disorder
10.1.4.    Depression and Anxiety
10.1.5.    Post-traumatic stress Disorder
10.1.6.    Substance Abuse Disorder
10.1.7.    Eating Disorders
10.1.8.    Others 

10.2. Middle East and Africa Mental Health Market Size and Forecast, by Services (2023-2030)
10.2.1.    Emergency Mental Health Services
10.2.2.    Outpatient Counselling
10.2.3.    Home-based Treatment Services
10.2.4.    Inpatient Hospital Treatment Services
10.2.5.    Others

10.3. Mental Health Market Size and Forecast, by Age Group (2023-2030)
10.3.1.    Pediatric
10.3.2.    Adult
10.3.3.    Geriatric

10.4. Middle East and Africa Mental Health Market Size and Forecast, by Country (2023-2030)
10.4.1.    South Africa
10.4.2.    GCC
10.4.3.    Egypt
10.4.4.    Nigeria
10.4.5.    Rest of ME&A

11.    South America Mental Health Market Size and Forecast (by Value in USD Billion)
11.1. South America Mental Health Market Size and Forecast, by Disorder (2023-2030)
11.1.1.    Schizophrenia
11.1.2.    Alcohol UseDisorders
11.1.3.    Bipolar Disorder
11.1.4.    Depression and Anxiety
11.1.5.    Post-traumatic stress Disorder
11.1.6.    Substance Abuse Disorder
11.1.7.    Eating Disorders
11.1.8.    Others
 
11.2. South America Mental Health Market Size and Forecast, by Services (2023-2030)
11.2.1.    Emergency Mental Health Services
11.2.2.    Outpatient Counselling
11.2.3.    Home-based Treatment Services
11.2.4.    Inpatient Hospital Treatment Services
11.2.5.    Others

11.3. Mental Health Market Size and Forecast, by Age Group (2023-2030)
11.3.1.    Pediatric
11.3.2.    Adult
11.3.3.    Geriatric

11.4. South America Mental Health Market Size and Forecast, by Country (2023-2030)
11.4.1.    Brazil
11.4.2.    Argentina
11.4.3.    Rest of South America

12.    Company Profile: Key players
12.1. Allergan plc (Ireland)
12.1.1.    Company Overview
12.1.2.    Financial Overview
12.1.3.    Business Portfolio
12.1.4.    SWOT Analysis
12.1.5.    Business Strategy 
12.1.6.    Recent Developments

12.2. Acadia Healthcare ( Franklin, U.S.)
12.3. Johnson & Johnson (US)
12.4. Eli Lilly and Company (US)
12.5. Bristol-Myers Squibb (US)
12.6. GlaxoSmithKline (UK)
12.7. AstraZeneca (UK)
12.8. BHG Hoding LLC. (U.S.)
12.9. Merck & Co., Inc. (US)
12.10. Takeda Pharmaceutical Company Limited (Japan)
12.11. Otsuka Holdings Co., Ltd. (Japan)
12.12. Novartis International AG (Switzerland)
12.13. Sanofi S.A. (France)
12.14. Lundbeck A/S (Denmark)
12.15. Teva Pharmaceutical Industries Ltd. (Israel)
12.16. Mylan N.V. (Netherlands)
12.17. AbbVie Inc. (US)
12.18. Boehringer Ingelheim International GmbH (Germany)
12.19. H. Lundbeck A/S (Denmark)
12.20. Sun Pharmaceutical Industries Ltd. (India)
12.21. Alkermes plc (Ireland)
12.22. XX.Inc.
13.    Key Findings
14.    Industry Recommendations

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