Mental health encompasses cognitive and emotional wellbeing. As per the WHO, mental health is a state of wellbeing in which an individual can cope up with day to day stress of life and can work productively. Many factors contribute to a person’s mental health, including Biological, life trauma, and family history. Growing cases of anxiety, depression, and suicide have increased concerns regarding mental health worldwide; therefore, augmenting demand for mental health pharmaceuticals and related therapies. For instance, mental and neurological disorders account for 10% of the global disease burden, the WHO.
MARKET DYNAMICS
The mental health market is anticipated to grow in the forecast period owing to the increasing elderly population, government initiatives to increase mental health awareness, and the growing number of people seeking professional help. Moreover, digital mental therapeutics, strategic mergers, and acquisitions by the market players are likely to create opportunities during the forecast period. For instance, recently, in September 2016, Sanofi partnered with Happify Health to improve the mental health of multiple sclerosis through an App. The aim is to maximize MS patient’s health along with medication.
MARKET SCOPE
The "Global Mental Health Market Analysis to 2028" is a specialized and in-depth study of the pharmaceutical industry with a special focus on the global market trend analysis. The report aims to provide an overview of the mental health market with detailed market segmentation by type, treatment, and geography. The global mental health market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading mental health market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global mental health market is segmented on the basis of type and treatment. Based on type, the market is segmented as anxiety disorders, substance abuse disorders, mood disorder and others (insomnia, binge eating disorder). Based on treatment, the market is segmented as somatic, psychotherapeutic, and others. The somatic treatment segment is further subdivided into medication, drug therapy, complementary & alternative medicine, and electroconvulsive therapy. Psychotherapeutic treatments are further categorized into cognitive behavioral therapy (CBT), interpersonal therapy, marital psychotherapy, peer support, hypnotherapy, and behavior therapy techniques. Other types include hospitalization, case management, self-help plan, and art therapy.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global mental health market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The Mental health market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trends and opportunities prevailing in the region.
The report analyzes factors affecting the Mental health market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the mental health market in these regions.
MARKET PLAYERS
The report covers key developments in the mental health market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies witnessed in the market were acquisitions, and partnerships & collaborations. These activities have paved the way for an expansion of business and customer base of market players. The market players from the mental health market are anticipated to lucrative growth opportunities in the future with the rising demand for the mental health market in the global market. Below mentioned is the list of few companies engaged in the mental health market.
The report also includes the profiles of key mental health market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, key development in the past five years.
- Allergan
- AstraZeneca
- Bristol-Myers Squibb Company
- Wyeth LLC
- Biogen
- Otsuka Pharmaceutical Co., Ltd.
- Janssen Pharmaceutica N.V.
- Eli Lilly and Company
The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.