Global Mental Illnesses Market – Industry Trends and Forecast to 2029

Market Analysis and Insights

The absence of a positive emotion, a low mood, and a variety of associated cognitive, physical, emotional, and behavioural symptoms characterise mental health problems. It is a very common condition that affects one out of every five people. Depression is caused by factors such as genes, stress, and brain chemistry. According to the World Health Organization, more than 264 million people of all ages suffered from depression in 2020. Depression is a leading cause of disability worldwide and a significant contributor to the global disease burden.

Mental illnesses market is expected to gain market growth at a potential rate of 7.55% in the forecast period of 2020 to 2029 and would reach an estimated value of 535.33 billion by the end of the forecast period. The global increase in environmental changes is accelerating the growth of the mental illness market.

Market Definition

Mental illness, also known as mental state disorders, is defined as a wide range of mental state conditions or disorders that affect a person's thinking, behaviour, and mood. Many people experience mental health issues from time to time. When the condition progresses and the signs and symptoms cause frequent stress and have an impact on your ability to perform, it is classified as psychopathy.

Report Scope and Market Segmentation

Mental illnesses Market Dynamics

Drivers

• Rise in the number of people suffering from mental disorders

One of the major factors driving the growth of the mental illnesses market is the increase in the number of people suffering from mental illnesses or mental state disorders around the world. The increase in initiatives by the government and public organisations to raise public awareness about mental illnesses, as well as the high demand for drugs and specific therapies to treat the disease's complications, is driving market growth.

• Increasing collaborations from key market players

The increased number of acquisition strategies and company collaborations among key players, as well as the increase in research and development projects, all has an impact on the market. Furthermore, the development of novel therapies provides profitable opportunities to market participants during the forecast period.

Restraints/Challenges

The high cost of treating and diagnosing mental illnesses is expected to stymie market growth. The older generation's reluctance to seek treatment is expected to pose a challenge to the mental illnesses market during the forecast period.

This mental illnesses market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on mental illnesses market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Mental Illnesses Market

Individuals with pre-existing poor mental health face a number of risks as a result of COVID-19, including increased rates of mental illness and disruption to treatment, medications, and the lifeline of support services, all of which have a negative impact on the market. Furthermore, studies show that COVID-19 is likely to aggravate pre-existing mental health symptoms or trigger relapse in people who have a history of mental illness. Furthermore, some countries are investing in cutting-edge digital and telecommunications solutions, as well as hiring more mental health professionals. As a result, it will have a positive effect during the forecast period.

Global Mental Illnesses Market Scope

The mental illnesses market is segmented on the basis of mental disorders, diagnosis, treatment, and end-user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Mental disorder

• into clinical depression
• anxiety
• bipolar
• dementia
• attention-deficit/hyperactivity disorder
• schizophrenia
• OCD
• Autism and post-traumatic stress

On the basis of mental disorders, the mental illnesses market is segmented into clinical depression, anxiety, bipolar, dementia, attention-deficit/hyperactivity disorder, schizophrenia, OCD, autism, and post-traumatic stress.

Diagnosis

• Psychological test
• Lab test
•  Depression screening tests.

On the basis of diagnosis, the mental illnesses market is segmented into psychological test, lab tests, and depression screening tests.

Treatment

• Psychotherapy
• Medication

On the basis of treatment, the mental illnesses market is segmented into psychotherapy, and medication.

End Use

• Hospitals
• Medical research centers

On the basis of end user, the mental illnesses market is segmented into hospitals, and medical research centers.

Mental Illnesses Market Regional Analysis/Insights

The mental illnesses market is analysed and market size insights and trends are provided by country, mental disorders, diagnosis, treatment, and end-user as referenced above.

The countries covered in the mental illnesses market report U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa

North America dominates the market for mental illnesses due to the region's high level of disease awareness. Asia-Pacific is expected to grow significantly from 2021 to 2028, owing to an increase in healthcare expenditure in the region.

The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.

Competitive Landscape and Mental Illnesses Market Share Analysis

The mental illnesses market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to mental illnesses market.

Some of the major players operating in the mental illnesses market are

• Cerner Corporation (U.S)
• Core Solutions, Inc (U.S)
• WELLIGENT (U.S)
• Promises Behavioral Health (U.S)
• Pyramid Healthcare Inc. (U.S)
• North Range Behavioral Health (U.S)
• Acadia Healthcare (U.S)
• Sevita (U.S)
• Kaiser Foundation Health Plan, Inc. (U.S)
• Universal Health Services Inc. (U.S)
• NHS England (U.K)
• CareTech Holdings PLC (U.K)
• Ascension (U.S)
• Strategic Behavioral Health LLC (U.S)
• Ohio Department of Mental Health and Addiction Services (U.S)

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