Mental Health - Burundi

Burundi

Revenue in the Mental Health market is projected to reach US$3.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.90%, resulting in a market volume of US$3.11m by 2028.
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$2.68 are generated in 2024.

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

Market

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Analyst Opinion

The Mental Health market in Burundi is developing rapidly, driven by increasing awareness and understanding of mental health issues among the population.

Customer preferences: In recent years, there has been a significant shift in customer preferences towards seeking professional help for mental health issues. Burundians are now more open to discussing and addressing mental health concerns, which has led to an increased demand for mental health services. People are actively seeking out licensed therapists and counselors to help them navigate through their mental health challenges. Additionally, there is a growing preference for holistic approaches to mental health, including alternative therapies such as meditation and yoga.

Trends in the market: One of the key trends in the mental health market in Burundi is the rise of teletherapy and online counseling services. This trend has been accelerated by the COVID-19 pandemic, which has limited in-person interactions. Many individuals are now turning to virtual platforms to access mental health support, making it more convenient and accessible for those in remote areas or with limited mobility. This trend is likely to continue as the benefits of teletherapy, such as convenience and privacy, become more widely recognized.Another trend in the market is the growing integration of mental health services into primary healthcare settings. Recognizing the importance of mental health in overall well-being, healthcare providers are increasingly incorporating mental health screenings and counseling services into their routine care. This integration allows for early detection and intervention, leading to better outcomes for patients.

Local special circumstances: Burundi has a unique cultural context that influences the development of the mental health market. Traditional beliefs and practices play a significant role in how mental health is perceived and addressed. There is a growing recognition of the need to bridge the gap between traditional healing practices and modern mental health approaches. This presents an opportunity for mental health professionals to collaborate with traditional healers and community leaders to provide holistic care that is culturally sensitive and relevant.

Underlying macroeconomic factors: Burundi is experiencing economic growth, albeit at a slower pace compared to other countries in the region. As the economy improves, individuals have more disposable income to spend on healthcare, including mental health services. However, the affordability and accessibility of mental health services remain a challenge for many, particularly those in rural areas. Efforts to expand healthcare infrastructure and improve insurance coverage can help address these barriers and further drive the development of the mental health market in Burundi.In conclusion, the Mental Health market in Burundi is witnessing significant growth due to changing customer preferences, such as a preference for professional help and holistic approaches. The market is also influenced by trends like teletherapy and integration of mental health services into primary healthcare. The unique cultural context of Burundi presents both challenges and opportunities for mental health professionals. The underlying macroeconomic factors, including economic growth and affordability of services, also play a role in shaping the market.

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.