Mental Health - Namibia | Statista Market Forecast

Revenue in the Mental Health market is projected to reach US$8.52m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.67%, resulting in a market volume of US$8.24m 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$43.02 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 Namibia is experiencing significant growth due to several factors. Customer preferences for mental health services have shifted, leading to increased demand for these services. Additionally, there are several trends in the market that are driving its development. Furthermore, local special circumstances and underlying macroeconomic factors are also contributing to the growth of the Mental Health market in Namibia.Customer preferences for mental health services have evolved in recent years. There is a growing awareness and recognition of mental health issues in Namibia. As a result, individuals are seeking professional help and support for their mental well-being. This increased demand for mental health services is driving the growth of the market.Trends in the market are also playing a significant role in its development. One trend is the integration of technology in mental health services. Online therapy platforms and mobile applications are becoming increasingly popular, allowing individuals to access mental health support from the comfort of their own homes. This trend is particularly relevant in Namibia, where access to mental health services may be limited in certain areas.Another trend in the market is the focus on holistic approaches to mental health. Namibians are increasingly seeking out alternative therapies and practices, such as mindfulness, meditation, and yoga, to improve their mental well-being. This trend reflects a shift towards a more holistic understanding of mental health and a desire for comprehensive and personalized treatment options.Local special circumstances also contribute to the growth of the Mental Health market in Namibia. The country has a high prevalence of mental health disorders, including depression and anxiety. This, coupled with a shortage of mental health professionals, creates a significant demand for mental health services. In response, the government has been implementing policies and initiatives to improve access to mental health care and support.Underlying macroeconomic factors also play a role in the development of the Mental Health market in Namibia. The country has experienced economic growth in recent years, leading to an increase in disposable income. As a result, individuals have more financial resources to invest in their mental well-being, driving the demand for mental health services.In conclusion, the Mental Health market in Namibia is developing due to shifting customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increased demand for mental health services, the integration of technology, the focus on holistic approaches, the high prevalence of mental health disorders, and the country's economic growth all contribute to the growth of the market.

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.