Rising Mental Disorders and Innovations to Boost Mental Wellness Market to $235.72 Billion by 2028 with 8.0% CAGR - Report by The Business Research Company

The new report published by The Business Research Company, titled "Mental Wellness Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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%.

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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.

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.

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

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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.

Contents of the report:
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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