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Growing cases of depression is a key factor driving mental wellness market revenue growth

VANCOUVER, BC, CANADA, April 10, 2023 /EINPresswire.com/ -- 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.

However, low awareness in growing economies and a shortage of mental health workforce professionals are expected to restrain the market revenue growth. Most people who require mental health treatment don't have access to high-quality mental health services globally. The existing gap in mental health care is a result of stigma, a lack of human resources, fragmented service delivery methods, and a lack of research capacity for implementation and policy reform. The majority of integrating treatment of common mental disorders in primary care and low-resource regions within high-income countries (HICs) have traditionally relied on centralized psychiatric hospitals or clinics for the diagnosis and treatment of mental diseases. There is typically a paucity of primary care or community health center-based services for mental health diagnosis, treatment, and referral. Many countries have made substantial progress toward deinstitutionalization and reforming their legal systems to address mental health issues.

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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.

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Competitive Terrain:

The global Mental Wellness industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

Market Segmentations of the Mental Wellness Market

This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the forecast period. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Mental Wellness market on the basis of product, application, and region:

Leading Market Players 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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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

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Regional Outlook:

North America (the U.S., Canada, Mexico)

Europe (the U.K., Germany, France, Italy)

Asia Pacific (India, China, Japan, Korea)

Latin America (Brazil, Argentina, Ecuador, Chile)

Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)

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Research Report on the Mental Wellness Market Addresses the Following Key Questions:

Who are the dominant players of the Mental Wellness market?

Which regional market is anticipated to have a high growth rate over the projected period?

What consumer trends and demands are expected to influence the operations of the market players in the Mental Wellness market?

What are the key growth drivers and restraining factors of the Mental Wellness market?

What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?

What is the overall impact of the COVID-19 pandemic on the Mental Wellness market and its key segments?

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