Press release
Global Mental Wellness Market Set For 8.57% Growth, Reaching $262.65 Billion By 2029
Mental Wellness Market
The global mental wellness market reached a value of nearly $174.15 billion in 2024, having grown at a compound annual growth rate (CAGR) of 8.05% since 2019. The market is expected to grow from $174.15 billion in 2024 to $262.65 billion in 2029 at a rate of 8.57%. The market is then expected to grow at a CAGR of 9.48% from 2029 and reach $413.13 billion in 2034.
What strategies are being adopted by key players in the mental wellness market?
The key players in the market are adopting extensive strategies in the mental wellness market such as:
• Launching new programs to boost expertise.
• Opening mental wellness centers.
• Strengthening portfolio via partnerships.
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To take advantage of opportunities, The Business Research Company suggests that mental wellness companies enhance offerings:
• Driving AI-powered innovations for personalized mental health support.
• Digital health startups advancing mental wellness solutions.
• Mental health portals improving employee well-being and engagement.
• Expanding campus-based mental health programs.
What Is Mental Wellness: Market Overview?
Mental wellness encompasses a range of products, services and activities designed to improve and sustain mental health, emotional well-being and psychological resilience. Mental Wellness addresses a wide spectrum of needs, from alleviating mental health disorders to enhancing overall emotional balance, stress management and cognitive functioning.
Mental wellness is increasingly recognized as an integral component of overall health and is sought by individuals across diverse demographics and geographies. It caters to individuals facing mental health challenges, those pursuing self-improvement and others aiming to maintain optimal mental well-being.
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Who Are The Major Companies Operating In The Global Mental Wellness Market?
The top ten competitors in the market made up 5.01% of the total market in 2023. CVS Health Corp. was the largest competitor with a 1.16% share of the market, followed by:
• Teladoc Health.
• Universal Health Services Inc.
• Acadia Healthcare Company.
• Sevita.
• Evernorth Health Inc.
• Fitbit Health Solutions Inc. (Google).
• Virgin Pulse Inc.
• Headspace Inc.
• Pyramid Healthcare Inc.
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