Global Mental Health Market to Grow at a CAGR of 3.5% from 2021 to 2030, Driven by Rising Awareness and Technological Advancements

The global mental health market was valued at $383.31 billion in 2020, and is estimated to reach $537.97 billion by 2030, growing at a CAGR of 3.5% from 2021 to 2030.

CAGR: 3.5%
Current Market Size: USD 383,31 Billion
Fastest Growing Region: APAC
Largest Market: North America
Projection Time: 2021-2030
Base Year: 2020

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The market growth is driven by various significant factors, such as increased funding from private and government organizations for mental health treatment and expanded service areas for addressing mental disorders. Notably, developed countries are witnessing a surge in awareness regarding the advantages of telehealth and tele-psychiatry, leading to substantial investments in these platforms. Nevertheless, the rising costs of mental health programs and substance abuse pose a potential hindrance to market growth. On the contrary, emerging nations with unmet medical needs present a promising opportunity in the market.

North America: In 2020, North America held a significant market share in the mental health sector, and it is projected to maintain its dominance throughout the forecast period. This can be attributed to the increasing adoption of advanced technologies, growing awareness of mental health among healthcare professionals, and individuals working in the corporate industry. The region also benefits from the rise in mental health activities within the healthcare sector, aimed at developing innovative services. Additionally, the presence of major players in the region contributes to market growth.

Asia-Pacific: The Asia-Pacific region is anticipated to exhibit the highest compound annual growth rate (CAGR) from 2021 to 2030. This growth is driven by factors such as the increasing awareness of mental health, advancements in healthcare infrastructure, and a rising number of hospitals equipped with advanced medical facilities. The region’s focus on health awareness and expanding healthcare resources contributes to its potential for substantial market growth.

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Key Findings Of The Study

• By disorder, the depression segment was the highest contributor to the market in 2020.
• By services, the inpatient hospital treatment services was the highest contributor to the market in 2020.
• By age group, the adult segment is projected to grow at a significant CAGR of 3.9% from 2021 to 2030.
• By region, North America garnered largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the review period.

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The key players operating in the global market include

• Acadia Healthcare
• The MENTOR Network
• Universal Health Services, Inc.
• Behavioral Health Network, Inc.
• CareTech Holdings PLC
• Strategic Behavioral Health
• Ascension Seton
• North Range Behavioral Health
• Pyramid Healthcare
• Promises Behavioral Health

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