The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s mental wellness market report forecasts the mental wellness market size to grow to $215.8 billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.

Learn More On The Mental Wellness Market Report 2023 – https://www.thebusinessresearchcompany.com/report/mental-wellness-global-market-report

Mental Wellness Market Size Forecast
The global mental wellness market size is expected to grow from $148.37 billion in 2022 to $160.3 billion in 2023 at a compound annual growth rate (CAGR) of 8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global mental wellness market size is expected to reach $215.8 billion in 2027 at a CAGR of 7.7%.

North America held the largest mental wellness market share in 2022.

Key Mental Wellness Market Driver ­– Increase In The Incidence Of Mental Health Disorders
For instance, in November 2022, according to the Health and Social Care Information Centre, a UK-based federal body that offers content, data, and computer systems for experts, physicians, and controllers in the social and healthcare sectors, the proportion of 17- to 19-year-olds with a suspected mental disorder grew from 17.4% in 2021 to 25.7% in 2022. Therefore, the increasing incidence of mental health disorders is driving the mental wellness market.

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Key Mental Wellness Market Trend – Product Innovation
Product innovation is the key trend gaining popularity in the mental wellness market. Major companies operating in the mental wellness market are focused on developing innovative products to strengthen their position in the market.

Mental Wellness Market Segment
1) By Type: Senses Spaces, Sleep, Brain Boosting Nutraceuticals And Botanicals, Self-Improvement, Meditation and Mindfulness
2) By Service: Emergency Mental Health Services, Outpatient Counselling, Home-based Treatment Services, Inpatient Hospital Treatment Services, Other Services
3) By Age: Adult, Geriatric, Teenager
4) By Disorder: Depression, Anxiety, Schizophrenia, Substance use disorder, Bipolar disorder, Alcohol use disorder, Post-traumatic stress disorder, Eating disorder, Other Disorder

Mental Wellness Market Major Players and Strategies
Major players in the mental wellness market are Acadia Healthcare, Amare Global, Ascension, Behavioral Health Network Inc., CVS Health, Franklin Covey Co., Headspace Inc., Promises Behavioral Health, Pyramid Healthcare Inc., Universal Health Services Inc., SkillPath, CuraLinc Healthcare, Fitbit, Wellsource Inc., Virgin Pulse, and CareTech.

In March 2023, CVS Health, a US-based healthcare solutions company acquired Signify Health Inc. for approximately $8 billion. Through the acquisition, CVS Health’s value-based care strategy is strengthened by increasing its prominence. The enhanced capabilities are expected to bring businesses closer to the customer while continuing to reimagine how people access and experience care that is more inexpensive, convenient, and connected. Signify Health Inc. is a US-based mental health platform company helping consumers to maintain mental health and well-being.

The Mental Wellness Global Market Report 2023 covers regional data on mental wellness market size, mental wellness market trends and drivers, opportunities, strategies, and mental wellness market competitor analysis. The countries covered in the mental wellness market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Mental wellness refers to a condition of health that includes a person’s social, emotional, and psychological well-being.

View More Reports Related To The Mental Wellness Market –
Mental Health Apps Global Market Report 2023
Behavioral And Mental Health Software Global Market Report 2023
Wellness Supplement Global Market Report 2023

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