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How the Mental Health Market Industry Grew and Developed

02-03-2023 05:15 PM CET | Health & Medicine

Press release from: allied market research

/ PR Agency: allied market research
How the Mental Health Market Industry Grew and Developed

Mental health is a state of psychological well-being or the absence of any mental illness. It refers to an individual's psychological level of functioning at an appropriate level of behavioral and emotional adjustment. The disturbance or imbalance in this state of mind drives the prevalence of mental illness or disorder. Mental illness can cause abnormal behavior and unusual thoughts and feelings over a period of time, resulting in emotional or physical distress or impairment.
The global Mental Health Market generated $383.31 million in 2020, and is estimated to garner $537.97 million by 2030, witnessing a CAGR of 3.5% from 2021 to 2030. The report offers an extensive analysis of changing market trends, value chain, top segments, top investment pockets, regional scenarios, and competitive landscape.

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Increase in prevalence of chronic diseases and behavioral health, surge in awareness of stress management, and rise in awareness regarding mental disorders through education and advocacy for human rights drive the growth of the global mental health market. However, increase in cost of mental health programs and substance abuse hinders the market growth. On the other hand, untapped potential in developing countries presents new opportunities in the coming years.

Covid-19 Scenario:
• During the Covid-19 pandemic, there were disruptions in gaining proper treatment for mental health disorders due to lockdown and close down of clinics. Only emergency mental health services were made available and non-emergency services were delayed.
• Owing to lockdown and social distancing measures implemented in many countries, inpatient treatments have been postponed. Moreover, some countries have been investing in innovative digital and telecommunication technologies to contact and avail consultation from mental health professionals. Thus, it is expected to create a positive impact.

The report offers detailed segmentation of the global mental health market based on disorder, services, age group, and region.

Based on disorder, the depression segment accounted for the highest market share in 2020, contributing to nearly two-fifths of the total share, and is expected to continue its leadership status during the forecast period. However, the eating disorders segment is expected to manifest the highest CAGR of 5.2% from 2021 to 2030.

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Based on services, the inpatient hospital treatment services segment held the highest share in 2020, accounting for more than two-fifths of the global mental health market, and is expected to maintain its lead position during the forecast period. However, the emergency mental health services segment is projected to grow at the highest CAGR of 4.8% from 2021 to 2030.

Based on region, North America contributed to the highest share in 2020, accounting for nearly three-fifths of the total market share, and is estimated to continue its dominant share in terms of revenue by 2030. However, Asia-Pacific is expected to portray the fastest CAGR of 4.4% during the forecast period.

Leading players of the global mental health market analyzed in the research include
Acadia Healthcare,
Universal Health Services, Inc.,
The MENTOR Network,
CareTech Holdings PLC,
Behavioral Health Network, Inc.,
Ascension Seton,
Strategic Behavioral Health,
Pyramid Healthcare,
North Range Behavioral Health,
and Promises Behavioral Health.

Know More- https://www.alliedmarketresearch.com/press-release/mental-health-market.html

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Web: https://www.alliedmarketresearch.com

Alied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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