Mental Health Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 91.82 Billion |
| Market Size (2029) | USD 109.05 Billion |
| CAGR (2024 - 2029) | 3.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mental Health Market Analysis
The Mental Health Market size is estimated at USD 91.82 billion in 2024, and is expected to reach USD 109.05 billion by 2029, growing at a CAGR of 3.5% during the forecast period (2024-2029).
Factors such as the rise in the prevalence of chronic diseases, the increase in the geriatric population, and new initiatives to improve mental health awareness are expected to contribute to the market growth.
The primary factors that drive the market growth are the increasing prevalence of mental disorders along with the rising geriatric population and rising mental health awareness through campaigns. Mental illnesses are a wide range of conditions, each manifesting with varying severity levels ranging from mild to moderate to severe. For instance, according to the report published by the World Health Organization in June 2022, 1 in 8 people worldwide experience a mental disorder that involves significant disturbances in thinking, emotional regulation, or behavior.
Similarly, as per the report published by the Mental Health Foundation, in 2022-2023, a higher percentage of women (37.1%) than men (29.9%) in the United Kingdom reported experiencing high levels of anxiety. This shows the high burden of mental disorders globally and regionally, which is expected to have a significant impact on the market.
The new campaigns aim to raise public awareness of mental health and promote access to mental health services, which are expected to impact market growth significantly. For instance, in May 2023, The National Alliance on Mental Illness (NAMI) launched MoreThanEnough, an empowering campaign for 2023 Mental Health Awareness Month. This campaign aims to address urgent needs and create a sense of belonging for people with ongoing mental health crises, which makes them have proper treatment using mental health services and likely propel the market growth during the forecast period.
Therefore, with the rise in chronic diseases' prevalence, an increasing geriatric population, and new government initiatives aimed at improving mental health awareness, the market growth is expected to be hindered by the rising costs of mental health services during the forecast period.
Mental Health Market Trends
Depression Under the Mental Health Disorder Segment is Expected to Have Significant Growth in the Market During the Forecast Period
Depression, a common mental disorder, manifests as a persistent depressed mood or diminished interest or pleasure in activities. Globally, the cases of depression are increasing gradually, which needs proper awareness and healthcare for maintenance.
The major factors that drive the segment growth include the high burden of depression cases, growing awareness of depression and its management through various programs, and the introduction of advanced services into the market.
According to the report published by the World Health Organization (WHO) in March 2023, depression affects an estimated 3.8% of the population, with higher rates among adults, particularly women. While 5% of adults experience depression overall, the rate is 4% for men and 6% for women. This rate increases with age, reaching 5.7% among adults over 60. Hence, there is a need for effective psychological treatments, including behavioral activation, cognitive behavioral therapy, interpersonal psychotherapy, and problem-solving therapy, which likely increase the market's growth during the forecast period.
Also, the advancements in providing mental health services for depression increase the usage of these services, which likely boosts market growth. For instance, as per the report published by Cambridge University in August 2022, telemedicine delivery is a viable alternative to face-to-face treatment for patients with depression. These remote healthcare services increase the adoption of mental health services, likely boosting the market growth during the forecast period.
North America is Expected to Hold a Significant Share in the Market During the Forecast Period
Mental disorders in Americans are gradually increasing due to increasing stress, substance abuse, and excessive alcohol intake. North America is expected to have a significant share in the mental health market due to the increasing cases of mental disorders, new government initiatives and funding for mental healthcare, and the expansion or establishment of new mental healthcare centers in these countries.
Mental illnesses are common in the United States. In a report published by Mental Health America Inc. in 2023, it was revealed that over 10% of young people in the United States are dealing with severe depression, which substantially impairs their daily functioning. This includes their academic performance, work, family relationships, and social interactions.
Similarly, according to the American Psychological Association, in November 2023, about 45% of adults aged 35-44 years and 50% of adults aged 18-34 years in the United States reported mental health disorders. This shows the high burden of mental disorders in the United States likely increases the need for mental healthcare services, which is expected to boost the market growth in the country.
Also, new government initiatives help expand mental health services in the region. For instance, in June 2023, the United States Department of Health and Human Services (HHS), through the Substance Abuse and Mental Health Services Administration (SAMHSA), awarded USD 31.5 million in behavioral health grants for children, youth, and young adults to address the nation's mental health crisis.
Similarly, in March 2023, the Governor of California, in partnership with Senator Susan Talamantes Eggman (D-Stockton), proposed modernizing California's behavioral health system and creating more mental health housing. These initiatives will increase mental healthcare services in the region, which will likely propel market growth during the forecast period.
Mental Health Industry Overview
The mental health market is fragmented due to the presence of various market players throughout the world. The majority of the key players expand their services in various regions, which helps to maintain market growth. Some of the key players in the market include Acadia Healthcare, Vita Health Group, Behavioral Health Services, Sevita, and CareTech Holdings PLC.
Mental Health Market Leaders
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Acadia Healthcare
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Behavioral Health Services
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Vita Health Group
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Sevita
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CareTech Holdings PLC
*Disclaimer: Major Players sorted in no particular order
Mental Health Market News
- May 2024: The University of Washington opened a new 150-bed psychiatric hospital to address the needs of patients who require inpatient psychiatric care and suffer from mental health disorders. The hospital will provide the patients with neuromodulation therapies such as transcranial magnetic stimulation.
- May 2024: The Central Ohio Behavioral Healthcare Hospital opened in the United States to meet the increasing demand for mental healthcare due to the shortage of mental health workers.
Mental Health Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Prevalence of Mental Disorders Along With Rising Geriatric Population
- 4.2.2 Rising Mental Health Awareness Through Campaigns
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4.3 Market Restraints
- 4.3.1 Rising Costs of Mental Health Services
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
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5.1 By Mental Health Disorder
- 5.1.1 Depression
- 5.1.2 Bipolar Disorder
- 5.1.3 Schizophrenia
- 5.1.4 Anxiety
- 5.1.5 Post-traumatic Stress Disorder (PTSD)
- 5.1.6 Other Mental Disorders
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5.2 By Services
- 5.2.1 Inpatient Treatment Services
- 5.2.2 Residential Treatment Services
- 5.2.3 Outpatient Treatment Services
- 5.2.4 Emergency Mental Health Services
- 5.2.5 Other Mental Health Services
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5.3 By Age Group
- 5.3.1 Pediatric
- 5.3.2 Adult
- 5.3.3 Geriatric
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Behavioral Health Network, Inc.
- 6.1.2 Acadia Healthcare
- 6.1.3 CareTech Holdings PLC
- 6.1.4 Sevita
- 6.1.5 Universal Health Services Inc.
- 6.1.6 Unison Health
- 6.1.7 Kennebec Behavioral Health
- 6.1.8 Vita Health Group
- 6.1.9 Claimont
- 6.1.10 Promises Behavioral Health
- 6.1.11 Behavioral Health Services
- 6.1.12 CHE Behavioral Health Services
*List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Mental Health Industry Segmentation
As per the scope of the report, mental health includes emotional, psychological, and social well-being. An altered mental health condition is considered a mental illness, which includes depression, anxiety disorders, schizophrenia, eating disorders, and addictive behaviors.
The mental health market is segmented by mental health disorder, services, age group, and geography. By mental health disorder, the market is segmented into depression, bipolar disorder, schizophrenia, anxiety, post-traumatic stress disorder (PTSD), and other mental disorders. By services, the market is segmented into inpatient treatment services, residential treatment services, outpatient treatment services, emergency mental health services, and other mental health services. By age group, the market is segmented into pediatric, adult, and geriatric. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. For each segment, the market size is provided in terms of USD value.
| By Mental Health Disorder | Depression | |
| Bipolar Disorder | ||
| Schizophrenia | ||
| Anxiety | ||
| Post-traumatic Stress Disorder (PTSD) | ||
| Other Mental Disorders | ||
| By Services | Inpatient Treatment Services | |
| Residential Treatment Services | ||
| Outpatient Treatment Services | ||
| Emergency Mental Health Services | ||
| Other Mental Health Services | ||
| By Age Group | Pediatric | |
| Adult | ||
| Geriatric | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Mental Health Market Research FAQs
How big is the Mental Health Market?
The Mental Health Market size is expected to reach USD 91.82 billion in 2024 and grow at a CAGR of 3.5% to reach USD 109.05 billion by 2029.
What is the current Mental Health Market size?
In 2024, the Mental Health Market size is expected to reach USD 91.82 billion.
Who are the key players in Mental Health Market?
Acadia Healthcare, Behavioral Health Services, Vita Health Group, Sevita and CareTech Holdings PLC are the major companies operating in the Mental Health Market.
Which is the fastest growing region in Mental Health Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Mental Health Market?
In 2024, the North America accounts for the largest market share in Mental Health Market.
What years does this Mental Health Market cover, and what was the market size in 2023?
In 2023, the Mental Health Market size was estimated at USD 88.61 billion. The report covers the Mental Health Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mental Health Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
How is technology impacting the future of Mental Health Treatment?
Technology is impacting the future of Mental Health Treatment Market through a) Potential for AI-powered therapy b) Wearable technology for monitoring c) Virtual reality applications
How is technology impacting the future of Mental Health Treatment?
Technology is impacting the future of Mental Health Treatment Market through a) Potential for AI-powered therapy b) Wearable technology for monitoring c) Virtual reality applications
Mental Health Industry Report
The mental health industry is witnessing remarkable growth, fueled by heightened awareness of mental health issues and the critical importance of mental well-being. This surge is propelled by the recognition of mental disorders' prevalence across all age groups, particularly among adults who are more likely to seek treatment. The industry, segmented by disorders, services, and age groups, focuses significantly on depression due to its global impact. Innovations like teletherapy are enhancing accessibility to mental health care, while integration with primary care aims at early intervention and holistic health. The sector's expansion is supported by technological advancements, research, advocacy, policy changes, and increased funding, underscoring mental health's vital role in overall health. According to Mordor Intelligence™ Industry Reports, the mental health market's share, size, and revenue growth rates are on the rise, with detailed analysis and forecasts available in a free report PDF download, highlighting the mental health industry's growth trajectory.
