Mental Health - Gambia | Statista Market Forecast

Revenue in the Mental Health market is projected to reach US$13.55m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.92%, resulting in a market volume of US$14.19m 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$49.71 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 Gambia is experiencing significant growth and development in recent years.

Customer preferences: Customers in Gambia are increasingly prioritizing their mental health and seeking professional help for mental health issues. There is a growing awareness and recognition of the importance of mental well-being, leading to an increased demand for mental health services. Customers are looking for accessible, affordable, and high-quality mental health care options that can address their specific needs. They are also seeking culturally sensitive and inclusive services that take into account their religious and cultural beliefs.

Trends in the market: One of the key trends in the Mental Health market in Gambia is the expansion of mental health services and facilities. There has been an increase in the number of mental health clinics, hospitals, and specialized centers offering a range of services such as counseling, therapy, and psychiatric care. This expansion is driven by the growing demand for mental health services and the recognition of the need to invest in mental health infrastructure.Another trend is the integration of mental health services into primary healthcare. There is a shift towards a more holistic approach to healthcare, where mental health is considered an integral part of overall well-being. This integration allows for early detection and intervention of mental health issues, leading to better outcomes for patients.

Local special circumstances: In Gambia, there are certain unique circumstances that contribute to the development of the Mental Health market. The country has a young population, with a significant proportion of the population being under the age of 30. This demographic trend has implications for mental health, as young people are more likely to experience mental health issues such as anxiety and depression. The government and other stakeholders are recognizing the need to address the mental health needs of the youth population and are investing in targeted programs and services.Additionally, Gambia has a diverse cultural landscape, with different ethnic groups and religious beliefs. This diversity presents both challenges and opportunities in the provision of mental health services. There is a need for culturally sensitive approaches that take into account the specific needs and beliefs of different communities. This includes providing services in local languages and incorporating traditional healing practices into mental health care.

Underlying macroeconomic factors: The development of the Mental Health market in Gambia is also influenced by underlying macroeconomic factors. The country has been experiencing steady economic growth in recent years, which has led to increased disposable income and improved access to healthcare services. As a result, more people are able to afford mental health services and are willing to invest in their mental well-being.Furthermore, the government of Gambia has recognized the importance of mental health and has taken steps to prioritize it in the national healthcare agenda. This includes the development of policies and programs that promote mental health awareness, prevention, and treatment. The government's commitment to mental health has created an enabling environment for the growth of the market and has attracted investments from both local and international stakeholders.In conclusion, the Mental Health market in Gambia is developing rapidly due to increasing customer preferences for mental health services, the expansion of mental health facilities, the integration of mental health into primary healthcare, local special circumstances such as a young population and cultural diversity, and underlying macroeconomic factors such as economic growth and government commitment to mental health. These factors are driving the growth and development of the market, providing opportunities for both local and international stakeholders to contribute to the improvement of mental health services in Gambia.

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.