Mental Health - Portugal

Portugal

Revenue in the Mental Health market is projected to reach US$309.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.92%, resulting in a market volume of US$324.00m 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$219.10 are generated in 2024.

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

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Analyst Opinion

The Mental Health market in Portugal has been experiencing significant growth in recent years.

Customer preferences: Customers in Portugal are increasingly seeking mental health services due to a growing awareness and understanding of mental health issues. There is a greater recognition of the importance of mental well-being and a willingness to seek professional help when needed. This shift in customer preferences is driven by various factors, including changing societal attitudes towards mental health, increased media coverage on the topic, and the destigmatization of mental health conditions.

Trends in the market: One of the key trends in the mental health market in Portugal is the rise of digital mental health solutions. With the increasing use of smartphones and internet access, there has been a growing demand for online therapy platforms, mental health apps, and telemedicine services. These digital solutions provide convenient and accessible ways for individuals to receive mental health support, especially in remote areas where access to traditional mental health services may be limited.Another trend in the market is the integration of mental health services into primary healthcare settings. Portugal has been working towards integrating mental health services into primary care to ensure that individuals receive holistic healthcare that addresses both their physical and mental well-being. This trend is driven by the recognition that mental health is an integral part of overall health and that early intervention and prevention are crucial in managing mental health conditions.

Local special circumstances: Portugal has a unique cultural and social context that influences the development of the mental health market. The country has a strong sense of community and family support, which can play a significant role in mental health treatment and recovery. Additionally, Portugal has a high prevalence of mental health disorders, including depression and anxiety, which further drives the demand for mental health services.

Underlying macroeconomic factors: The economic growth and stability in Portugal have also contributed to the development of the mental health market. As the economy improves, individuals have more disposable income to spend on healthcare services, including mental health. The government has also increased its investment in mental health services, recognizing the importance of mental well-being in overall societal development.In conclusion, the Mental Health market in Portugal is experiencing growth due to changing customer preferences, including a greater awareness and acceptance of mental health issues. The market is also influenced by trends such as the rise of digital mental health solutions and the integration of mental health services into primary care. Portugal's unique cultural and social context, as well as its economic stability, further contribute to the development of the mental health market 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.