Mental Health - Pakistan

Pakistan

Revenue in the Mental Health market is projected to reach US$131.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.69%, resulting in a market volume of US$136.20m 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$6.83 are generated in 2024.

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

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Analyst Opinion

The Mental Health market in Pakistan is experiencing significant growth and development due to various factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the expansion of the Mental Health market in the country.

Customer preferences: Customers in Pakistan are increasingly seeking mental health services and support due to the growing awareness and understanding of mental health issues. There is a rising demand for counseling, therapy, and psychiatric services as people recognize the importance of taking care of their mental well-being. This shift in customer preferences is driven by a desire for a better quality of life and overall wellness.

Trends in the market: One of the key trends in the Mental Health market in Pakistan is the increasing availability and accessibility of mental health services. More clinics, hospitals, and private practitioners are offering specialized mental health services, including therapy and counseling. Additionally, the use of telemedicine and online platforms for mental health consultations and support has gained popularity, especially in remote areas where access to mental health professionals may be limited.Another trend in the market is the integration of mental health services into primary healthcare settings. This approach aims to provide holistic care by addressing both physical and mental health needs. The collaboration between mental health professionals and primary care providers allows for early detection and intervention of mental health issues, leading to better outcomes for patients.

Local special circumstances: Pakistan faces unique challenges in the Mental Health market, including cultural and social stigmas surrounding mental health. However, efforts are being made to raise awareness and reduce the stigma associated with seeking mental health support. Mental health advocacy groups and campaigns are working to educate the public and encourage open conversations about mental health.

Underlying macroeconomic factors: The growing Mental Health market in Pakistan can also be attributed to favorable macroeconomic factors. The country has experienced economic growth and urbanization, leading to an increase in disposable income and a higher standard of living. As a result, more people are willing and able to invest in their mental well-being.In conclusion, the Mental Health market in Pakistan is developing rapidly due to changing customer preferences, emerging trends in the market, efforts to reduce stigma, and favorable macroeconomic factors. As the awareness and understanding of mental health continue to grow, the demand for mental health services and support will likely increase further.

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.