Mental Health - China

China

Revenue in the Mental Health market is projected to reach US$2.98bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.56%, resulting in a market volume of US$3.17bn 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$40.80 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 China is experiencing significant growth and development due to changing customer preferences, emerging trends, and local special circumstances. Customer preferences in China have shifted towards a greater emphasis on mental well-being and self-care. As the country's middle class continues to expand, individuals are becoming more aware of the importance of mental health and are seeking ways to improve their overall well-being. This has led to an increased demand for mental health services, including therapy, counseling, and wellness programs.One of the key trends in the Chinese Mental Health market is the rise of digital platforms and online services. With the widespread adoption of smartphones and the internet, individuals are increasingly turning to digital platforms for mental health support. Online therapy and counseling services have become popular, offering convenience and accessibility to a wider population. Additionally, mental health apps and self-help tools are gaining popularity, allowing individuals to manage their mental well-being from the comfort of their own homes.Another trend in the market is the growing acceptance and awareness of mental health issues in China. Traditionally, mental health has been stigmatized in Chinese society, but there has been a shift in recent years. The government has implemented policies and campaigns to raise awareness and reduce stigma surrounding mental health, leading to increased acceptance and support for those seeking help. This has created a more favorable environment for the development of the Mental Health market in China.Local special circumstances also play a role in the growth of the Mental Health market in China. The country's rapid urbanization and fast-paced lifestyle have contributed to increased stress levels and mental health issues among the population. As a result, there is a greater need for mental health services to help individuals cope with the pressures of modern life. Additionally, the aging population in China is also driving demand for mental health services, as older adults are more susceptible to mental health issues such as depression and anxiety.Underlying macroeconomic factors also contribute to the development of the Mental Health market in China. The country's strong economic growth has led to a rise in disposable income, allowing individuals to allocate more resources towards their mental well-being. Additionally, the government's focus on healthcare reform and the inclusion of mental health services in the national healthcare system have also contributed to the growth of the market.Overall, the Mental Health market in China is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As the importance of mental health continues to gain recognition in Chinese society, the market is expected to further expand in the coming years.

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.