![]() Grow your profit margin with Technavio – Buy the report! Growth of the mental health market industry across North America, Europe, Asia, and Rest of World (ROW)Ī thorough analysis of the market's competitive landscape and detailed information about vendorsĬomprehensive analysis of factors that will challenge the growth of Mental Health Market vendors Precise estimation of the size of the mental health market and its contribution to the parent marketĪccurate predictions about upcoming trends and changes in consumer behavior What are the key data covered in this mental health market report?ĬAGR of the market during the forecast periodĭetailed information on factors that will drive the growth of the mental health market between 20 Insights on market challenges - Request a sample report! Thus, the prevalence of numerous stringent government regulations can hinder the growth of the global mental health market during the forecast period. Violations of privacy and security regulations can also lead to high penalties. If mental health counseling and treatment service providers violate regulations, they can be excluded from government healthcare programs. Vendors have to adhere to numerous laws, regulations, and rules, including licensure and accreditation standards and reimbursement for patient services. Government regulations are challenging the mental health market growth. Mental health market – Major challenges hindering the market growth Insights on the market contribution of various segments - Download a sample report These factors will augment the growth of the regional market during the forecast period. For instance, according to the Anxiety and Depression Association of America (ADAA) in 2020, anxiety disorders affect 40 million people aged 18 years and above annually in the US. The increasing awareness about the importance of mental health and the growth in substance abuse will drive the mental health market growth in North America during the forecast period. The growing prevalence of mental health disorders across the region is driving the growth of the market. However, North America will grow at a slower rate when compared to Europe and Asia. The US is a key country for the mental health market in the region. North America will account for 39% of the market's growth during the forecast period. The report provides actionable insights and estimates the contribution of all regions to the growth of the global mental health market. Various countries have launched national helplines for citizens who need psychological counseling. The launch of such helplines is expected to have a positive impact on the market.īased on geography, the global mental health market is segmented into North America, Europe, Asia, and Rest of World (ROW). This, in turn, will drive the growth of the segment during the forecast period. They can be referred to a liaison psychiatry service or local crisis resolution and home treatment team (CRHT). Patients with such emergencies can choose to speak to a nurse over the phone. Many vendors provide a list of local sources on their websites, which can be contacted during emergencies. Psychological emergencies require immediate attention from healthcare providers. The emergency mental health services segment will account for a significant share of the market growth during the forecast period. Technavio has segmented the market based on service (emergency mental health services, outpatient counseling, and inpatient hospital treatment services). Mental health market - Segmentation assessment Technavio has announced its latest market research report titled Global Mental Health Market Take action now and gain valuable insights into the impact of the US crisis with our comprehensive analysis report - Request a sample report Therefore, established vendors have expanded their offerings to provide tele-mental health services. These services improve access to mental health care. Telepsychiatry or tele-mental health services refer to the use of telecommunications or videoconferencing for remote delivery of psychological support and services or psychiatric assessment and care. The emergence of virtual services is a key trend in the market. This will drive the growth of the market during the forecast period. For instance, according to a study conducted by the Lancet journal, approximately 75.2 million people across the world were dealing with anxiety disorders in 2020. The growing prevalence of mental health disorders is driving the mental health market growth. Moreover, the growth momentum will accelerate. The market is estimated to grow at a CAGR of 9.06% during the forecast period. NEW YORK, Ma/PRNewswire/ - The global mental health market size is estimated to grow by USD 201.41 billionfrom 2021 to 2026, according to Technavio.
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