Mental Health - Thailand

Thailand

Revenue in the Mental Health market is projected to reach US$237.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.38%, resulting in a market volume of US$241.60m 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$52.55 are generated in 2024.

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

Market

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Currency

Analyst Opinion

The Mental Health market in Thailand is experiencing significant growth and development due to various factors.

Customer preferences: Customers in Thailand are increasingly recognizing the importance of mental health and seeking professional help to address their mental well-being. There is a growing awareness about the impact of mental health on overall quality of life, leading to a greater demand for mental health services. Additionally, the stigma associated with mental health is gradually decreasing, making it more socially acceptable to seek help.

Trends in the market: One of the key trends in the Mental Health market in Thailand is the rise of online mental health platforms. With the increasing penetration of internet and smartphones, people are turning to online platforms for convenient and accessible mental health support. These platforms offer a range of services including online counseling, therapy sessions, and mental health resources. The convenience and anonymity offered by online platforms have made them popular among individuals who may be hesitant to visit traditional mental health clinics.Another trend in the market is the integration of technology in mental health treatments. Virtual reality therapy, for example, is being used to treat various mental health conditions such as anxiety and phobias. This technology provides a safe and controlled environment for individuals to confront their fears and anxieties. Additionally, mobile applications and wearable devices are being developed to monitor and manage mental health conditions, providing individuals with tools to track their progress and seek support when needed.

Local special circumstances: Thailand has a high prevalence of mental health disorders, with a significant portion of the population affected by conditions such as anxiety and depression. This has created a need for increased access to mental health services and resources. The government has recognized this need and has taken steps to improve mental health services in the country. Initiatives such as the establishment of mental health clinics and the integration of mental health services into primary healthcare centers have been implemented to address the growing demand.

Underlying macroeconomic factors: Thailand's growing economy and increasing disposable income have also contributed to the development of the Mental Health market. As individuals have more financial resources, they are able to prioritize their mental well-being and invest in mental health services. Additionally, the government's focus on healthcare and social welfare has led to increased funding and support for mental health initiatives, further driving the growth of the market.In conclusion, the Mental Health market in Thailand is experiencing growth and development due to increasing customer awareness and preferences, the adoption of online platforms and technology, local special circumstances such as high prevalence of mental health disorders, and underlying macroeconomic factors such as a growing economy and government support. This trend is likely to continue as mental health becomes a more prominent aspect of overall healthcare and well-being in Thailand.

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.