Mental health market is segmented on the basis of age group, services. Based on age group, the market is classified into pediatric, adult, and geriatric. In terms of services, the market is segmented into emergency mental health services, outpatient counseling, home-based treatment services, inpatient hospital treatment services, and other services- Industry forecast 2023-2030
Westford, USA, Jan. 10, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest, the global mental health market encompasses many products and services to address the prevention, treatment, and management of mental health disorders. This multi-layered market incorporates pharmaceuticals designed to alleviate symptoms and improve the well-being of individuals grappling with mental health issues.
Browse in-depth TOC on the "Mental Health Market"
Pages - 157
Tables - 65
Figures – 75
The primary driving force behind the global mental health market is the escalating prevalence of mental health disorders globally. There is a growing awareness and acceptance of these issues, further fueling the market's expansion as societies become more attuned to the significance of mental health.
Pediatric Segment is Expected to Grow in the Market Due to a Wide Spectrum of Assessments
Pediatric age group encompasses children and adolescents up to 18 years of age, and within this critical developmental stage, pediatric mental health services play a pivotal role. These services encompass a broad spectrum of assessments and treatments to address various mental health conditions that can impact young individuals in the mental health market.
The markets in North America exert significant dominance over the global mental health market, and within the region, the United States stands out as the largest market. Several factors contribute to this preeminence.
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Adult Segment is Expected to Dominate the Market Due to a range of Mental Health Disorders
The adult age group, typically spanning individuals aged 18 to 65, represents a substantial segment of the population susceptible to a range of mental health disorders. These disorders may encompass conditions stemming from stress, depression, anxiety, addiction, and various other factors in the mental health market.
Regional markets in Europe stand as the second-largest mental health market globally, propelled by a convergence of influential factors. Among these is the region's exceptionally high prevalence of mental health disorders, emphasizing the pressing need for accessible and effective solutions.
A comprehensive analysis of the major players in the mental health market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Mental Health Market
Lundbeck A/S recently achieved a significant milestone with the FDA's approval of its drug, Vyepti, designed for the treatment of migraines in adults. This regulatory clearance marked a crucial step in effectively relieving individuals suffering from this debilitating condition.
Takeda Pharmaceutical Company Limited recently celebrated its triumph as the FDA approved its medication, Rozerem. This drug was intended to address insomnia in a relatively young patient demographic, specifically children aged 6 to 17. These noteworthy approvals underscore the ongoing commitment of pharmaceutical companies to develop innovative solutions and treatments for various medical conditions, ultimately striving to enhance the overall well-being of patients across different age groups.
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
