Mental Health - Moldova

Moldova

Revenue in the Mental Health market is projected to reach US$17.49m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.87%, resulting in a market volume of US$19.19m 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$65.36 are generated in 2024.

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

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Analyst Opinion

The Mental Health market in Moldova 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 Moldova have shifted towards a greater focus on mental well-being and the importance of seeking professional help. This change in attitude can be attributed to a growing awareness of mental health issues and the destigmatization of seeking treatment. As a result, there has been an increased demand for mental health services, including therapy, counseling, and psychiatric care.Trends in the market indicate a rise in the number of mental health professionals and facilities in Moldova. This can be attributed to the growing recognition of the importance of mental health and the need for accessible and affordable services. Additionally, advancements in technology have facilitated the development of online therapy platforms, allowing individuals to seek help from the comfort of their own homes. This trend has further increased the accessibility of mental health services in Moldova.Local special circumstances, such as a lack of awareness and resources, have also contributed to the development of the Mental Health market in Moldova. Historically, mental health has been a neglected area of healthcare in the country, with limited resources and a lack of trained professionals. However, in recent years, there has been a concerted effort to address this issue and improve mental health services. This has resulted in increased funding for mental health programs, training opportunities for professionals, and the establishment of specialized mental health institutions.Underlying macroeconomic factors have also played a role in the development of the Mental Health market in Moldova. Economic growth and improved living standards have enabled individuals to prioritize their mental well-being and seek professional help. Additionally, the government has recognized the economic benefits of investing in mental health, as a mentally healthy population is more productive and can contribute to overall economic development.In conclusion, the Mental Health market in Moldova is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The increased focus on mental well-being, the rise in mental health professionals and facilities, the efforts to address the lack of awareness and resources, and the recognition of the economic benefits of investing in mental health have all contributed to the development of the market. As Moldova continues to prioritize mental health, it is expected that the market will continue to grow and evolve to meet the needs of its population.

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.