Mental Health - Ireland | Statista Market Forecast

Revenue in the Mental Health market is projected to reach US$127.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.09%, resulting in a market volume of US$134.60m 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$212.60 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 Ireland is experiencing significant growth and development. Customer preferences for mental health services have shifted towards more personalized and holistic approaches. There is also an increasing demand for digital mental health solutions. These trends are driven by several factors, including changing societal attitudes towards mental health, increased awareness and understanding of mental health issues, and the impact of the COVID-19 pandemic.

Customer preferences: Customers in Ireland are increasingly seeking personalized and holistic mental health services. They are looking for treatment options that address their specific needs and consider their overall well-being. This shift in preference can be attributed to a growing awareness of the importance of mental health and a desire for more comprehensive care. Additionally, there is a demand for digital mental health solutions, such as mobile apps and online therapy platforms, as people seek convenient and accessible ways to access mental health support.

Trends in the market: One of the key trends in the Mental Health market in Ireland is the integration of mental health services into primary care settings. This approach aims to provide more accessible and coordinated care for individuals with mental health conditions. By integrating mental health services into primary care, patients can receive comprehensive care that addresses both their physical and mental health needs. This trend is driven by the recognition of the close relationship between mental and physical health and the importance of a holistic approach to healthcare.Another trend in the market is the increasing use of technology in mental health services. Digital mental health solutions, such as mobile apps, online therapy platforms, and virtual reality therapy, are becoming more prevalent. These technologies offer convenience, accessibility, and anonymity, which are particularly appealing to individuals who may be hesitant to seek traditional in-person therapy. The COVID-19 pandemic has further accelerated the adoption of digital mental health solutions, as lockdowns and social distancing measures limited in-person interactions.

Local special circumstances: In Ireland, there has been a significant shift in societal attitudes towards mental health in recent years. There is now greater recognition and acceptance of mental health issues, leading to reduced stigma and increased openness to seeking help. This cultural shift has created a more supportive environment for individuals with mental health conditions and has contributed to the growing demand for mental health services.The COVID-19 pandemic has also had a profound impact on the Mental Health market in Ireland. The pandemic has increased stress, anxiety, and other mental health issues among the population. As a result, there has been a surge in demand for mental health services. The pandemic has also highlighted the need for accessible and flexible mental health support, leading to the adoption of digital solutions.

Underlying macroeconomic factors: Ireland's strong economic growth and low unemployment rate have contributed to increased spending power and the ability to invest in mental health services. The government has also recognized the importance of mental health and has made efforts to improve access to mental health services and support. These factors have created a favorable environment for the growth and development of the Mental Health market in Ireland.In conclusion, the Mental Health market in Ireland is experiencing growth and development driven by changing customer preferences, increasing demand for personalized and holistic approaches, and the adoption of digital mental health solutions. The integration of mental health services into primary care settings and the cultural shift towards greater acceptance of mental health issues are also contributing to the market's growth. The COVID-19 pandemic has further accelerated these trends and highlighted the need for accessible and flexible mental health support. Ireland's strong economy and government support for mental health services have created a favorable environment for market growth.

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.