Mental Health - Oman

Oman

Revenue in the Mental Health market is projected to reach US$33.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.26%, resulting in a market volume of US$35.35m 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$74.71 are generated in 2024.

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

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Analyst Opinion

The Mental Health market in Oman has been experiencing steady growth in recent years, driven by increasing awareness and acceptance of mental health issues in the country.

Customer preferences: Omani customers are increasingly seeking out mental health services and treatments, as there is a growing recognition of the importance of mental well-being. This shift in customer preferences can be attributed to several factors, including changing societal attitudes towards mental health, increased media coverage on the topic, and a greater understanding of the impact of mental health on overall well-being. Omani customers are now more willing to seek professional help and are actively seeking out services that cater to their mental health needs.

Trends in the market: One of the key trends in the Mental Health market in Oman is the increasing demand for counseling and therapy services. Omani customers are seeking out these services to address a wide range of mental health issues, including anxiety, depression, and stress. This trend is driven by a growing recognition of the importance of mental health and a desire for personalized and holistic treatment options. Additionally, there is a growing trend towards online counseling services, which provide convenience and accessibility for customers.Another trend in the market is the integration of mental health services into primary healthcare settings. This approach aims to address the stigma associated with mental health by normalizing the discussion and treatment of mental health issues. By integrating mental health services into primary healthcare, Omani customers can access mental health support more easily and receive comprehensive care that addresses both their physical and mental well-being.

Local special circumstances: Oman has made significant efforts to improve mental health services in the country. The government has implemented policies and initiatives to raise awareness about mental health and reduce the stigma associated with mental illness. These efforts have contributed to an increased acceptance of mental health issues and a greater willingness to seek help.

Underlying macroeconomic factors: The growing Mental Health market in Oman is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and improved access to healthcare services. This has allowed more individuals to seek out mental health treatments and services.In conclusion, the Mental Health market in Oman is developing as a result of increasing customer preferences for mental health services, including counseling and therapy, as well as the integration of mental health services into primary healthcare settings. These trends are driven by a growing awareness and acceptance of mental health issues in the country, as well as underlying macroeconomic factors such as economic growth and improved access to healthcare.

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.