Mental Wellness Market 2024 - By Share, Size, Trend, Demand, Analysis By Top Leading Players And Forecast Till 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Mental Wellness Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $235.72 billion In 2028 At A CAGR Of 8.0% :

The mental wellness market size has grown strongly in recent years. It will grow from $160.3 billion in 2023 to $173.03 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increasing mental health awareness, stigma reduction, corporate wellness programs, advancements in telehealth, government initiatives.

The mental wellness market size is expected to see strong growth in the next few years. It will grow to $235.72 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to expanding role of wearable devices, global mental health advocacy, focus on preventive mental health, virtual reality therapy, tailored mental wellness solution. Major trends in the forecast period include digital mental health platforms, corporate mental health programs, integration of artificial intelligence (AI), cultural diversity and inclusivity, holistic wellness ecosystems.

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Mental Wellness Market Major Segments
The mental wellness market covered in this report is segmented -

1) By Type: Senses Spaces, Sleep, Brain Boosting Nutraceuticals And Botanicals, Self-Improvement, Meditation and Mindfulness
2) By Service: Emergency Mental Health Services, Outpatient Counselling, Home-based Treatment Services, Inpatient Hospital Treatment Services, Other Services
3) By Age: Adult, Geriatric, Teenager
4) By Disorder: Depression, Anxiety, Schizophrenia, Substance use disorder, Bipolar disorder, Alcohol use disorder, Post-traumatic stress disorder, Eating disorder, Other Disorder

Key Driver - Rising Disorders Drive Expansion In Wellness Market

The increasing incidence of mental health disorders is expected to propel the growth of the mental wellness market going forward. The mental health disorders are a clinically substantial impairment in a person's cognition, emotional regulation, or conduct. It is usually linked to distress or functional impairment in key areas. The rising incidence of mental disorders expands the mental wellness as it aids in minimizing mental disorders and cures them. For instance, in November 2022, according to the Health and Social Care Information Centre, a UK-based federal body that offers content, data, and computer systems for experts, physicians, and controllers in the social and healthcare sectors, the proportion of 17- to 19-year-olds with a suspected mental disorder grew from 17.4% in 2021 to 25.7% in 2022. Therefore, the increasing incidence of mental health disorders is driving the mental wellness market.

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Prominent Trend - Innovative Solutions Take Center Stage In Mental Wellness Market

Product innovation is the key trend gaining popularity in the mental wellness market. Major companies operating in the mental wellness market are focused on developing innovative products to strengthen their position in the market. For instance, in August 2022, Swanson Health, a US-based manufacturer of wellness products like vitamins and nutraceuticals launched the innovative Swanson W/I/O (Wellness Inside and Out). Swanson W/I/O (Wellness Inside and Out) is a handpicked range of nutritional supplements for self-care and mental well-being. The product line is developed to assist customers in creating a customized personal kit to connect sleep, anxiety, and cognition, three crucial parts of mental wellness. Swanson W/I/O is committed to elevating mental well-being and ensuring that everyone can afford, acquire, and use high-quality goods.

Mental Wellness Market Players
Major companies operating in the mental wellness market report are CVS Health Corporation, Ascension Health Alliance, Fitbit Inc., BetterHelp Inc., Vitality Group Holdings Limited, Pyramid Healthcare Inc., Calm.com Inc., Virgin Pulse Inc., Hinge Health Inc., Headspace Inc., CareTech Holdings Inc., Franklin Covey Co, Acadia Healthcare Company Inc., Behavioral Health Network Inc., CuraLinc Healthcare LLC, Promises Behavioral Health LLC, Aduro International LLC, SkillPath, Amare Global LLC, Castlight Health Inc., Happify Health Inc., Wellsource Inc., HealthCheck360 LLC, Sanvello Health Inc., Flow Neuroscience AB, LifeDojo Inc., Prosoma Inc., Clementine Holdings Inc., Sesh Labs Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the mental wellness market in 2023. The regions covered in the mental wellness market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Mental Wellness Market Report Structure
3. Mental Wellness Market Trends And Strategies
4. Mental Wellness Market - Macro Economic Scenario
5. Mental Wellness Market Size And Growth
…..
27. Mental Wellness Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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