Mental Health Market is Projected to Gain $537.97 Billion by 2030, Claims Allied Market Research
Allied Market Research
5 min read
Allied Market Research
The global mental health market growth is attributed to several factors, including the increasing popularity of chronic diseases and behavioral health issues, the rise in understanding of stress management, and increased awareness about mental health issues to promote greater respect for human rights and reduce the stigmatization associated with mental illnesses. on the contrary, the market across Asia-Pacific to portray the fastest CAGR during the forecast period.
Wilmington, Delaware, Oct. 29, 2023 (GLOBE NEWSWIRE) -- Allied Market Research has released a report on the global mental health market that was bestowed $383.31 billion in 2020 and is projected to gain $537.97 billion by 2030, with a compound annual growth rate of 3.5% between 2021 and 2030. This report offers a comprehensive overview of the most prominent investment pockets, successful strategies, the market dynamics, the market size and projections, the competitive landscape, and the various market trends. It is an essential resource for the emerging market players, and stakeholders to strategically plan and strengthen their competitive edge.
The increasing popularity of chronic diseases and behavioral health issues
Increased awareness about mental health issues to promote greater respect for human rights and reduce the stigmatization associated with mental illnesses
The rise in understanding of stress management
Opportunities
High potential to generate significant economic growth
Restrains
The rising cost of mental health programs and substance abuse
Recent Developments in the Mental Health Market:
In June 2023, Acadia Healthcare, an American provider of behavioral healthcare services, announced that it has formed a joint venture with Solution Health to build a modern 144-bed behavioral health hospital in southeast New Hampshire to address the growing, unmet need for accessible, high-quality behavioral health services in the state. This partnership expands Acadia’s acute service line into a new state with a premier health system.
In July 2023, Acadia Healthcare Company, Inc. an American provider of behavioral healthcare services, announced that it has formed a joint venture with Nebraska Methodist Health System to build a state-of-the-art, 96-bed behavioral health hospital in Council Bluffs, Iowa. This new partnership with a leading health system will expand Acadia’s acute service line into a new state through the development and operation of the first freestanding behavioral health hospital in the greater Omaha-Council Bluffs metro area. It will continue to partner with leading health systems to combat the mental health and substance use crises across the country.
In February 2023, the Universal Health Services, Inc., largest and most respected providers of hospital and healthcare services and Lehigh Valley Health Network announce the plan to construct a new 144-bed behavioral health hospital. The proposed new joint-venture facility will be located on Macada Road in Hanover Township, Pa., across from the Lehigh Valley Hospital (LVH)-Muhlenberg campus. This joint venture is a positive step forward on our journey to expand access to care for those suffering with mental and behavioral health issues.
The report offers an in-depth analysis of the global mental health market, categorizing it into different segments based on the disorder, services, age group, and region. Graphical and tabular representations of each segment and their sub-segments are used to demonstrate the analysis. This analysis can assist market players and investors, new market participants, and shareholders to focus on devising strategies to maintain their foothold in the market.
By disorder, the depression segment held a significant market share in 2020, accounted for nearly two-fifths of global mental health market revenue, and is anticipated to retain its dominance throughout the projection period. Furthermore, the eating disorders segment would showcase the fastest CAGR of 5.2% during the forecast timeframe.
By services, the inpatient hospital treatment services segment accounted for the largest market share in 2020, holding more than two-fifths of the global mental health market revenue, and is estimated to maintain its predominant position throughout the projection period. On the other hand, the emergency mental health services segment would exhibit the fastest CAGR of 4.8% during the forecast timeframe.
By region, the market across North America region accounted for the major market share in 2020, retaining nearly three-fifths of the global mental health market revenue, and is predicted to maintain its lead position throughout the projection period. However, the market across the Asia-Pacific region would display the fastest CAGR of 4.4% during the forecast timeframe.
The research report also analyzed the top players in the global mental health market. Some of the big companies in this sector include Universal Health Services, Inc., Acadia Healthcare, Pyramid Healthcare, Strategic Behavioral Health, The MENTOR Network, North Range Behavioral Health, CareTech Holdings PLC, Promises Behavioral Health, Ascension Seton, and Behavioral Health Network, Inc.
Comprehensive Healthcare Industry Research Studies: -
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