Market Insights report
Almost one in ten people across the globe suffers from a mental disorder. In 2021, mental health issues caused more than 10% of the sick leaves across the United States, the United Kingdom and Germany. Rising cases of depression, anxiety, bipolar and schizophrenia has led experts to research more on this complex issue facing humanity today. The COVID-19 pandemic has only accelerated this trend, making mental health well-being the top priority for everyone.
Consequently, In 2019, WHO included mental health in it's sustainable development goals by launching the WHO Special Initiative for Mental Health (2019-2023): Universal Health Coverage for Mental Health. Initivates like these along with increased government expenditure has given a big push to the mental health drugs consumption across the globe.
The Mental Health market represents the market for drugs used to treat various mild to serious mental health disorders occuring in patients. The market is divided into three markets: Anxiety and related sleep disorders, Depressive disorders and Psychotic Disorders.
This report from the series of Market Insights reports provides detailed insights into the Mental Health market from a global perspective. Besides all relevant market figures like worldwide and market-wise revenues from 2016 to 2028, we have deep dived into current trends, drivers, key players and the significant impact of COVID-19 pandemic on the Mental Health market.
The Mental Health market was valued at 37.2 billion in 2022 USD and expected to grow steadily between 2022 and 2028. Numerous mental health awareness initiatives led by WHO, along with improved R&D and government regulations are driving the market. The largest markets include developed countries including the US, China, Japan and Canada.
The major players include Pfizer, Johnson & Johnson, AbbVie and Eli Lilly & Company among others.
The Depressive disorders market accounts for almost 60 percent of the total revenue. Anxiety and Related Sleep Disorders are the most common among mental health disorders, impacting more than 300 million people worldwide.
Note: CAGR: Compound Annual Growth Rate
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