Mental Health Treatment Market Poised for Expansion Driven by rise in cases of anxiety, depression and technological advancement

AUSTIN, TEXAS, UNITED STATES, June 25, 2024 /EINPresswire.com/ -- The SNS Insider report estimates the Mental Health Treatment Market Size at USD 420.01 billion in 2023, with a projected CAGR of 3.7% to reach USD 561.68 billion by 2031.

The mental health treatment market is growing due to several factors such as the reduction in the stigma surrounding mental illness, rise in cases of mental health and aging population. For Instance, According to Who more than 1 billion people are suffering from mental health disorder.

Open conversations about mental health treatment and encouraging people for help without shame. The pandemic is the reminder of the prevalence of mental health conditions. The diagnoses of anxiety, depression, and stress disorders, is needed for effective treatment options. Technological advancements like teletherapy are making mental health treatment more accessible and convenient. Also, employer-sponsored mental health programs and Employee Assistance Programs (EAPs) are providing needed resources which support to employees. Governments in all over the world are knowing the importance of mental health and giving more resources to improve services. It includes legislation or regulatory, policy changes, and funding initiatives specifically for mental health treatment. Advancement in technology is one of the major driver in growth of the mental health treatment market. This, allows for the development of evidence-based interventions and treatment options. Increased awareness of the science behind mental health treatment.

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List of Mental Health Treatment Companies Profiled in Report:
• Acadia Healthcare
• Meru Health
• Monsenso A/S
• Manastha
• Quartet
• Ginger
• Koa Health
• Eli Lilly and Company
• Pfizer
• Mind Medicine Inc.
• Small Pharma Inc

Key Market Segmentation:
By Treatment
• Medications
- Antidepressants
- Anti-Anxiety medications
- Mood Stabilizer’s
- Anti-psychotic drugs

• Psychotherapy
• Brain Stimulation Therapy
• Home Care
• Counselling
• On Mental Health Services
• Others

By Indications
• Neurodevelopmental Disorders
• Schizophrenia
• Bipolar disorder
• Depression
• Anxiety
• Obsessive Compulsive Disorder (OCD)
• Trauma & Stress related Disorders
• Others

By treatment Centre
• Hospitals & Clinics
• Trauma Centres
• Rehabilitation Centre
• Online Consultation Platforms and Apps
• Others

By Distribution Channel
• Retail Pharmacy
• Hospital based Pharmacy
• Online Pharmacy
• Others

Segment Analysis
By treatment Centre
- Hospitals & Clinics dominated the segment of mental health treatment market with high market share due to the healthcare infrastructure is well-established for hospitals and clinics. It includes established networks between primary care physicians and mental health professionals, making it easier for patients to access treatment within the system.
- Online Consultation Platforms and Apps holds significant number of shares due to online therapy is more affordable than traditional in-person therapy due to lower overhead costs for providers. This can make mental healthcare more financially accessible for a wider range of people.

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Recent Developments
- September 2023, Headspace and One Medical announced a partnership the mindfulness and meditation app and the U.S.-based primary care provider aims to develop solutions that reduce patient anxiety and encourage participation in preventive health.
- October 2022, Calm entered the mental healthcare space. Calm Health, aims to provide users with a holistic approach to well-being, addressing both physical and mental health needs.
- February 2023, Talkspace, improving employee mental health by launching Talkspace Engage. This new service is designed specifically for companies to offer mental well-being resources and support to their workforce.

Regional Analysis
North America dominated the market with high market share in 2023. This dominance is due to North American government have significant investment in mental health programs. This increased funding to give greater access to services and increases the market growth. Also a growing awareness of mental health issues in this region is also rises the growth of the market.

The Asia Pacific (APAC) region has the fastest growth rate. This is driven by several factors such as, increase in mental health problems in this region like anxiety, depression. People are becoming more open to needing help and creating demand for treatment services. Government initiatives in this region are focused on improving healthcare infrastructure, it involved increasing access to mental health services. This may lead to the growth of the market.

Key Takeaways
• The report clarifies that there's a reduction in the stigma surrounding mental illness, leading to more open conversations about seeking help.
• The report acknowledges a rise in cases of anxiety, depression, and stress disorders due to factors like the pandemic, emphasizing the need for effective treatment options.
• The report underlines the role of technological advancements like teletherapy in making mental healthcare more accessible and convenient.
• The report highlights the growing trend of employer-sponsored mental health programs and Employee Assistance Programs (EAPs) providing resources and support to employees.
• The report emphasizes the increasing recognition by governments worldwide of the importance of mental health, leading to allocation of more resources for improved services.
• The report identifies North America as the current leader due to government investment and higher awareness. However, the Asia Pacific (APAC) region is expected to witness the fastest growth rate due to rising mental health awareness and government initiatives focused on improving healthcare infrastructure.

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Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Mental Health Treatment Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Mental Health Treatment Market Segmentation, By Treatment
Chapter 9 Mental Health Treatment Market Segmentation, By Indications
Chapter 10 Mental Health Treatment Market Segmentation, By treatment Centre
Chapter 11 Mental Health Treatment Market Segmentation, By Distribution Channel
Chapter 12 Regional Analysis
Chapter 13 Company profile
Chapter 14 Competitive Landscape
Chapter 15 Use Case and Best Practices
Chapter 16 Conclusion
Continued…

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Akash Anand
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