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.
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.
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Key Players Influencing the Market:
3. Bristol-Myers Squibb Company
4. Wyeth LLC
6. Otsuka Pharmaceutical Co., Ltd.
7. Janssen Pharmaceutica N.V.
8. Eli Lilly and Company
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.
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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 2017 to 2027 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.
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