Mental Health - Israel

Israel

Revenue in the Mental Health market is projected to reach US$196.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.90%, resulting in a market volume of US$205.60m by 2029.
In global comparison, most revenue will be generated in the United States (US$11,730.00m in 2024).
In relation to total population figures, per person revenues of US$233.30 are generated in 2024.

Key regions: United States, China, Japan, Canada, France

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Analyst Opinion

The Mental Health market in Israel is experiencing significant growth and development in recent years.

Customer preferences: Israeli customers have shown a growing interest in mental health services and products. There is an increasing awareness and recognition of the importance of mental well-being, leading to a greater demand for mental health solutions. Customers are seeking a wide range of services, including therapy, counseling, psychiatric medications, and self-help tools. They are also looking for personalized and holistic approaches to mental health, with a focus on preventive measures and overall wellness.

Trends in the market: One of the key trends in the Israeli mental health market is the adoption of digital solutions. The use of technology, such as online therapy platforms and mental health apps, has gained popularity among customers. These digital tools provide convenience and accessibility, allowing individuals to seek help and support from the comfort of their own homes. Additionally, the COVID-19 pandemic has accelerated the adoption of telehealth services, further driving the growth of digital mental health solutions in Israel.Another trend in the market is the integration of mental health services into primary care settings. There is a growing recognition of the need to address mental health issues alongside physical health concerns. As a result, mental health professionals are increasingly collaborating with primary care physicians to provide integrated care. This approach not only improves access to mental health services but also reduces the stigma associated with seeking help for mental health problems.

Local special circumstances: Israel faces unique challenges that contribute to the development of the mental health market. The country has a diverse population with different cultural backgrounds and languages. This diversity necessitates the availability of mental health services that are tailored to meet the specific needs of various communities. Additionally, Israel has a high prevalence of trauma-related disorders due to its history of conflicts and wars. This has led to a focus on trauma-informed care and specialized treatments for post-traumatic stress disorder (PTSD) and other trauma-related conditions.

Underlying macroeconomic factors: Israel has a strong economy and a high standard of living, which enables individuals to invest in their mental well-being. The government has also recognized the importance of mental health and has taken steps to improve access to services. For example, mental health services are covered by the national health insurance system, making them more affordable and accessible to the general population. Furthermore, the Israeli government has implemented policies to reduce the stigma surrounding mental health and promote mental health education and awareness.In conclusion, the Mental Health market in Israel is experiencing growth and development due to increasing customer preferences for mental health services, the adoption of digital solutions, the integration of mental health into primary care, and the unique local circumstances and underlying macroeconomic factors in the country.

Methodology

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.