Mental Health - Africa | Statista Market Forecast

Revenue in the Mental Health market is projected to reach US$1.20bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -1.37%, resulting in a market volume of US$1.12bn by 2029.
In global comparison, most revenue will be generated United States (US$11.73bn in 2024).
In relation to total population figures, per person revenues of US$11.10 are generated in 2024.

Mental health disorders are common illnesses found among people all over the world. These disorders are caused by a variety of genetic and environmental factors that cause imbalances in a person's physical and emotional behavior. Most mental health disorders can be treated with behavioral and psychotherapies. In some cases, however, medication is prescribed along with these treatments. The Mental Health market represents the market for the drugs that are used to treat various mild to serious mental health disorders. The market is divided into three markets that have been based on the disorders that are being treated. This includes depressive disorders, anxiety and related sleeping disorders, and different types of psychotic disorders.

Market values represent the revenues generated by manufacturers and are based on retail prices for each drug category including all drugs, regardless of whether they are reimbursed or not.

Company examples: Pfizer, Bristol-Myers Squibb, Johnson & Johnson, AbbVie, and Sumitomo pharma

Anxiolytic drugs
Antidepressant drugs
Antipsychotic drugs

Eating disorders
Trauma-related disorders
Substance abuse
Various types of therapy treatments

The Mental Health market in Africa has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Mental Health market in Africa have been shifting towards a greater emphasis on holistic approaches to mental well-being. There is a growing recognition of the importance of mental health in overall health and wellness, leading to increased demand for a wide range of mental health services and products. Customers are seeking out therapies, counseling, and self-care practices that address their specific needs and promote mental well-being. This shift in preferences is driving the development of new and innovative solutions in the market.One of the key trends in the Mental Health market in Africa is the adoption of digital platforms and technologies. With the increasing availability of smartphones and internet access, more people are turning to digital platforms for mental health support. Online counseling services, mental health apps, and virtual support groups are becoming increasingly popular, providing convenient and accessible options for individuals seeking mental health support. This trend is particularly significant in Africa, where access to traditional mental health services can be limited in certain areas.Another trend in the market is the integration of traditional healing practices with modern mental health approaches. Africa has a rich cultural heritage of traditional healing practices, and there is a growing recognition of the value of incorporating these practices into mental health care. Traditional healers are being trained to work alongside mental health professionals, offering a holistic approach that combines traditional wisdom with evidence-based therapies. This trend is not only meeting the cultural needs of the population but also expanding the range of mental health services available.Local special circumstances in Africa, such as high levels of poverty and inequality, have also contributed to the development of the Mental Health market. These circumstances have led to increased levels of stress, anxiety, and other mental health issues in the population. As a result, there is a growing demand for affordable and accessible mental health services. Organizations and entrepreneurs are responding to this demand by developing innovative solutions that are tailored to the local context and can be accessed by individuals with limited resources.Underlying macroeconomic factors, such as population growth and urbanization, are also driving the growth of the Mental Health market in Africa. As the population continues to grow and more people move to urban areas, the demand for mental health services is increasing. Urbanization often brings with it higher levels of stress and mental health issues, leading to a greater need for support and treatment. This provides opportunities for market players to expand their offerings and reach a larger customer base.In conclusion, the Mental Health market in Africa is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances. The adoption of holistic approaches, the integration of digital platforms, and the incorporation of traditional healing practices are shaping the market. Additionally, underlying macroeconomic factors such as population growth and urbanization are contributing to the increasing demand for mental health services.

Data coverage:

Data encompasses B2C enterprises. Figures are based on companies' revenues, international institutes data, and global consumer survey data. Revenues refer to the retail value and include sales taxes.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use financial reports and third-party data. Next, we use relevant key market indicators and data from country-specific associations such as healthcare spending per capita, medical product spending per capita, and gross domestic product per capita. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, S-Curve function, ARIMA time series model and exponential curve function. Data is modeled using current exchange rates.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. GCS data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Despite what some may think, mental health problems are common in the United States and around the world. Mental health issues, much like other health issues, can be mild, but can also be life altering, affecting the emotional, social, and psychological well-being of the person. Common types of mental illness include mood disorders, anxiety disorders, eating disorders, and personality disorders. Although symptoms of mental illness differ depending on the type of illness and seriousness of the problem, common symptoms of mental health issues include changes in sleeping and eating habits, social withdrawal, feelings of hopelessness, anger, and prolonged sadness, suicidal thoughts, and substance abuse. In 2022, it was estimated that around 36 percent of those in the U.S. aged 18 to 25 years and 29 percent of those aged 26 to 49 years suffered from some form of mental illness in the past year.