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Market Overview

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The global mental wellness market is projected to experience a compound annual growth rate (CAGR) of 6.35%, reaching USD 200.42 billion by 2027 from USD 138.55 billion in 2021. The increasing recognition and acceptance of mental health issues have greatly contributed to the growth of the mental wellness market in the coming years. The contemporary concept of mental wellness focuses on empowering individuals to take control of their health and happiness, rather than merely pursuing a healthy lifestyle that indirectly influences overall well-being. Given that mental health problems are often underreported due to the associated stigma, industry vendors are developing programs that target underlying causes such as sleep deprivation and problems within the home, rather than relying solely on tertiary interventions. Current research is exploring the integration of cognitive-behavioral therapy with smartphones to address these issues. Additionally, stress has a detrimental impact on work-life balance for employees, making mental wellness programs expected to play a crucial role in managing individuals’ mental well-being during the forecast period.

In 2021, there was a significant surge in technology solutions, with the introduction of numerous tools and applications. Technological advancements have transformed mental wellness programs from information-based passive initiatives to dynamic, data-driven approaches. Technology is increasingly employed to promote, monitor, and incentivize healthy behaviors and achievements. It has become easier to track progress and measure outcomes.

Mental wellness has undergone a profound transformation, ushering in a new era of personalized education and solutions that cater to individual well-being through the use of artificial intelligence (AI). AI facilitates the scalability of wellness programs without placing excessive reliance on resources. By analyzing personality traits and habits, AI can also aid in overcoming various health obstacles by triggering behavioral change.

Clinical depression has reached alarming levels in recent years, with statistics from the World Health Organization (WHO) indicating that approximately 3.8% of the global population, including 5.7% of adults aged 60 and above, and 5.0% of adults overall, are affected by depression. This equates to nearly 280 million people worldwide suffering from depression. The United States has a notably high incidence of depression, followed by Ukraine, Colombia, France, and the Netherlands.

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Market Segmentation

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The market is segmented based on various factors, including disorder, wellness type, age group, and geography.

Segmentation by Disorder
Depression
Anxiety
Schizophrenia
Substance Use Disorder
Bipolar Disorder
Alcohol Use Disorder
Post-Traumatic Stress Disorder
Eating Disorder
Others

Segmentation by Type
Senses Spaces, And Sleep
Brain Boosting Nutraceuticals & Botanicals
Self-Improvement
Meditation and Mindfulness

Segmentation by Age Group
Adults
Geriatric
Teenager

Segmentation by Geography
North America – US, Canada
Europe – Germany, France, UK, Italy, Spain
APAC – China, Japan, India, South Korea, Australia
Latin America – Brazil, Mexico
Middle East & Africa – South Africa, Saudi Arabia

The largest segment in the global mental health and wellness market is expected to be depression, categorized by a pervasive sense of sadness, lack of interest in previously enjoyable activities, disrupted appetite and sleep patterns, poor concentration, and fatigue. It is estimated that 5% of adults worldwide suffer from depression. This mental disorder significantly contributes to disability and the overall burden of disease globally, affecting an individual’s ability to function and lead a fulfilling life.

Within the mental health market, the segment of senses, spaces, and sleep is projected to dominate. This segment encompasses services, products, and designs that focus on the mind-body connection and the impact of environmental stimuli on stress levels, mood, and sleep quality. Sleep, in particular, is a prominent sub-segment within this category, with a wide range of solutions available such as sleep accessories, smart bedding, wearables, trackers, sleep apps, sleep retreats, and nap cafés.

Among different age groups, adults are expected to constitute the largest segment in the global mental wellness market. Mental health issues affect up to 25% of young individuals annually. Signs of psychological illness and distress among young adults include excessive fear, intense feelings of sadness or emotional numbness, drastic mood swings, social withdrawal, changes in eating habits, substance abuse, difficulty concentrating, alterations in sleeping patterns, and suicidal thoughts.

North America, APAC, and Europe have highly developed mental wellness markets due to existing awareness and educated consumers focused on preventing chronic illnesses. However, Latin America and the Middle East present significant growth opportunities. In 2021, North America accounted for the largest share (50.27%) of the global mental wellness market, with the United States alone contributing 88.56% of the region’s revenue. Factors such as the widespread adoption of smartphones, advancements in coverage networks, and the increasing prevalence of health conditions affecting mental wellness drive the market in this region.

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Competitive Landscape

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The global mental wellness market exhibits a fragmented nature, with the level of fragmentation expected to intensify during the projected period. Across different regions, there exists a substantial presence of both global and domestic vendors.

In recent years, however, the market has observed the entry of numerous external players, including in-house services introduced by large enterprises and other entities operating in the health and fitness sector. These entities offer membership discounts as a strategy to augment their market share. Furthermore, advancements in technology have facilitated additional advantages in utilizing mental wellness programs through mobile devices such as smartphones, cell phones, and tablets. This innovation enables researchers, doctors, and individuals to monitor progress, seek assistance, and enhance comprehension of mental wellness, thereby contributing to the growing adoption rate among end-users. To meet market demands, companies are introducing new and advanced products to fortify their portfolios.

Key companies profiled in this report include SkillPath, FranklinCovey, Amare Global, Headspace, CVS Health (Active Health), CuraLinc Healthcare, Fitbit, Wellsource, Vitality, Virgin Pulse, Aduro, HealthCheck360, Lifestart, Castlight, Acadia Healthcare, Calm, Universal Health Services, Behavioral Health Network, Pyramid Healthcare, Promises Behavioral Health.

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Key Questions Answered

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What is the size and growth rate of the mental wellness market?

The mental wellness market is anticipated to reach a valuation of USD 200.42 billion by 2027, exhibiting a compound annual growth rate (CAGR) of 6.35%. The United States holds a leading position in the global mental wellness market.

Who are the key players in the mental health market?

Prominent players in the mental health market include SkillPath, FranklinCovey, Amare Global, and Headspace.

What are the prevailing trends in the mental wellness market?

Current trends in the mental wellness industry encompass the growing utilization of data analytics to augment wellness practices, the adoption of technology to enhance outcomes, and the increasing dominion of artificial intelligence within the sector.

What factors contribute to the growth of the global mental health market?

Several factors act as growth enablers in the global mental health market, such as the escalating awareness about stress management, the expansion of individualized self-care approaches, and the rise in working hours that drive the demand for mental health services.