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The global mental health market was valued at US$ 402.4 Billion in 2021.
We expect the global mental health market to exhibit a CAGR of 3.57% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic has severely affected the mental health of individuals resulting in the growing demand for mental health solutions, including therapy and medication, to remotely promote self-care during lockdown scenario.
The high prevalence of lifestyle-based mental health disorders, coupled with the rising number of mental health awareness programs, is primarily driving the global mental health market.
Based on the disorder, the global mental health market can be segmented into schizophrenia, alcohol use disorders, bipolar disorder, depression and anxiety, post-traumatic stress disorder, substance abuse disorders, eating disorders, and others. Currently, depression and anxiety disorder holds the majority of the total market share.
Based on the service, the global mental health market has been divided into emergency mental health services, outpatient counselling, home-based treatment services, inpatient hospital treatment services, and others. Among these, inpatient hospital treatment services currently exhibit a clear dominance in the market.
Based on the age group the global mental health market can be categorized into pediatric, adult, and geriatric. Currently, adult accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global mental health market include Acadia Healthcare, Ascension Seton, Behavioral Health Network Inc., CareTech Holdings PLC, North Range Behavioral Health, Promises Behavioral Health, Pyramid Healthcare, Strategic Behavioral Health LLC, Sevita (The MENTOR Network), and Universal Health Services Inc.
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