A rise in the incidence of mental illnesses including autism and OCD, an increased awareness of stress management, and an increased awareness of mental disorders
PORTLAND, Oregon, US, January 25, 2022 /EINPresswire.com/ – The rise in the incidence of mental illnesses including autism, depression, OCD, increased awareness of stress management and increased awareness of mental disorders is driving the health market. According to the report published by Allied Market Research, the global mental health market generated $383.31 billion in 2020 and is expected to reach $537.97 billion by 2030, representing a compound annual growth rate of 3.5% from 2021 to 2030. The report provides Detailed analysis of key disciplines drivers and opportunities, key sectors, investment pockets, competitive landscape and key players.
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Onkar Sumant, Director of Healthcare at Allied Market Research, stated, “The growth of the global mental health market is contributing to an increased incidence of mental illnesses including autism, depression, OCD, increased awareness of stress management and an increased awareness of mental disorders driving the global mental health market. On the other hand, on the other hand, , the high cost of mental health and substance abuse programs impedes market growth. On the contrary, the untapped potential in emerging economies provides new opportunities.”
• COVID-19 is expected to exacerbate mental health symptoms or cause relapse among people with pre-existing mental illness. This fueled the global mental health market.
• During the pandemic, countries have invested in innovative digital and communications solutions to provide more mental health professionals. This is expected to have a positive impact on the market.
• Clinic closures, travel restrictions and closures have only made emergency mental health services available.
The global mental health market is segmented on the basis of disorder, age group, services, and region.
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By chaos, the depression segment contributed to the highest market share in 2020, owning nearly two-fifths of the total share, and is expected to lead during the forecast period. On the other hand, the eating disorder segment is expected to show the highest compound annual growth rate of 5.2% from 2021 to 2030.
By services, the inpatient treatment services segment has the highest share in 2020, occupying more than two-fifths of the global mental health market, and is expected to lead during the forecast period. However, the emergency mental health services sector is expected to grow at the highest compound annual growth rate of 4.8% from 2021 to 2030.
By region, North America held the largest share in 2020, contributing nearly three-fifths of the total market share, and is expected to continue its dominance during the forecast period. However, the Asia Pacific region is expected to show the fastest compound annual growth rate of 4.4% during the forecast period.
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Major players in the global mental health market include Mentor Network, Acadia Healthcare, Universal Health Services, Inc. , CareTech Holdings PLC, and Behavioral Health Network, Inc. , Strategic Behavioral Health, North Range Behavioral Health, Ascension Seton, Pyramid Healthcare, and promises of behavioral health.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business consulting firm of Allied Analytics LLP headquartered in Portland, Oregon. Allied Market Research provides global organizations as well as medium and small businesses with unparalleled quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted viewpoint to provide business insights and consultancy to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas.
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