The report considers the present scenario of the global mental wellness market and its market dynamics for 2022?2027. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyses leading companies and several other prominent companies operating in the industry.
The global mental wellness market is expected to grow at a CAGR of 6.35% during the forecast period.
• Increasing Awareness of Stress Management
• Growth in Individualized Self-Care
• Increase in Number of Working Hours
• Growing Cases of Depression
GLOBAL MENTAL WELLNESS MARKET SEGMENTATION In terms of market by disorder, the depression segment holds the highest revenue share in the market; it is also expected to grow at the highest growth rate at a CAGR of 7.97 % (by value) during 2022-2027, due to the increasing prevalence of depression and its associated effects across the world
In terms of market by type, the senses spaces and sleep segment holds the highest revenue share in the market; while meditation and mindfulness is also expected to grow at the highest growth rate at a CAGR of 8.73 % (by value) during 2022-2027
Based on age group the adult mental wellness segment dominated the market with a revenue share of 48.10% in 2021 and is expected to witness an absolute growth of 50.21% by the end of 2027
Segmentation by Disorder
• Substance Use Disorder
• Bipolar Disorder
• Alcohol Use Disorder
• Post-Traumatic Stress Disorder
• Eating Disorder
Segmentation by Type
• Senses Spaces, And Sleep
• Brain Boosting Nutraceuticals & Botanicals
• Meditation and Mindfulness
Segmentation by Age Group
GEOGRAPHICAL ANALYSIS North America region was the biggest revenue contributors in the global mental wellness market. It is also expected to witness the highest growth rate during the forecast period
Factors such as the increased adoption of smartphones and tablets in developing countries have led to the increasing engagement of the population in mental wellness programs
Segmentation by Region
• North America
o South Korea
• Latin America
• Middle East & Africa
o South Africa
o Saudi Arabia
Global players like Skillpath, FranklinCovey, Amare Global, and Headspace are trying to expand their markets through profitable partnerships, whereas the domestic vendors are capitalizing with the product and services portfolio that best suits the domestic needs and wants
Vendors compete in terms of service delivery, brand value, customization ability, price, skilled workforce, and technological capability as well. Most of the vendors offer mental wellness services and wellness portals. Vendors also tend to tie up with technology companies to develop mental wellness programs
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