Mental Wellness Market Generating Revenue of USD 551.66 Billion in 2030
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Growing cases of depression is a key factor driving mental wellness market revenue growth
VANCOUVER, BC, CANADA, November 3, 2022 /EINPresswire.com/ -- The Market Intelligence Report provides a complete overview of the Mental Wellness market along with details on the competitive landscape and profiles of the key players operating in this business. Our analyst team evaluates many other important aspects of the market, including historical market trends, estimated growth rates, revenue generation, production capacity, pricing structure, and key market drivers, opportunities, challenges and constraints. Did. The latest research report offers an accurate study of the Mental Wellness industry and highlights key factors such as import/export analysis, production and consumption rates, distribution channels and consumer base in key regions of the global market. This report further explores key facts and figures related to current market conditions and provides an industry-validated database for companies looking to invest in the market.
The global mental wellness market size reached USD 401.31 Billion in 2021 and is expected to register a revenue CAGR of 3.5% during the forecast period, according to latest analysis by Emergen Research. Rising awareness about mental disorders through education and advocacy for more respect for human rights and less stigma is the key factor driving market revenue growth.
The increasing incidences of post-pandemic trauma after COVID-19 is driving mental wellness market revenue growth. Those who have poor mental health face various issues, such as higher rates of Post-Traumatic Stress Disorder (PTSD) and stress eating, owing to COVID-19. Furthermore, research indicates that in individuals with a history of mental illness, COVID-19 is likely to increase pre-existing symptoms or cause a relapse. Anxiety, sleeplessness, and Obsessive-Compulsive (OC) symptoms were also often reported by COVID-19 survivors. Since the pandemic began, there has been an increase in the prescription of antidepressants, intimate relationship violence, and suicidal thoughts as a result there is a rising demand for mental wellness which is expected to drive revenue growth of the market.
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Some Key Highlights From the Report
Depression segment accounted for the largest revenue share in 2021. Depression is a common mental illness. according to World Health Organization (WHO), an estimated 3.8% of the world's population suffers from depression, including 5.0% of adults and 5.7% of persons over the age of 60. Around 280 million individuals worldwide suffer from depression concerns about mental health have grown globally owing to an increase in the number of cases involving depression, anxiety, and even suicide. According to World Health Organization (WHO), every year, around 700,000 individuals die by suicide. For people aged 15 to 29, suicide is the fourth most common cause of death. Depression is a complicated mental disorder and major medical conditions can cause depression.
Inpatient hospital treatment services segment accounted for the largest revenue share in 2021. An increase in the prevalence of mental illnesses, an increasing number of patients, and a vast number of patients using mental health interventions to improve self-care are driving the revenue growth of the segment. There is a rising demand for inpatient hospital treatment services owing to various advantages, such as the mental units within ordinary hospitals as well as private psychiatric hospitals offering round-the-clock treatment. Psychiatric nurses and group therapists administer care while psychiatrists serve as the primary caregivers.
Adult segment accounted for the largest revenue share in 2021. Various factors can increase the risk of developing a mental illness in adults. For instance, conditions in life that are stressful, such as money issues, losing a loved one, or getting divorced, a prolonged (chronic) illness, such as diabetes, traumatic brain injury causes brain damage after a catastrophic accident, such as a concussion, and use of alcohol or illicit substances is the key factor for various mental illness in adults which is driving revenue growth of the segment.
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Market Overview:
The report bifurcates the Mental Wellness market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Disorder Outlook (Revenue, USD Billion; 2019–2030)
Depression
Anxiety
Schizophrenia
Substance use disorder
Bipolar disorder
Alcohol use disorder
Post-traumatic stress disorder
Eating disorder
Others
Service Outlook (Revenue, USD Billion; 2019–2030)
Emergency Mental Health Services
Outpatient Counselling
Home-based Treatment Services
Inpatient Hospital Treatment Services
Other Services
Age Group Outlook (Revenue, USD Billion; 2019–2030)
Adult
Geriatric
Teenager
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Mental Wellness market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report:
Acadia Healthcare, Sevita, Universal Health Services, Inc, Behavioral Health Network, Inc, CareTech, Pyramid Healthcare Inc., Promises Behavioral Health, Evernorth Health, Inc, Ascension, and SkillPath
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Regional Outlook of Mental Wellness Market:
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
South Africa
Rest of MEA
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