Mental Health - Egypt

Egypt

Revenue in the Mental Health market is projected to reach US$351.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.28%, resulting in a market volume of US$384.30m 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$34.02 are generated in 2024.

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

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Analyst Opinion

The Mental Health market in Egypt is experiencing significant growth and development in recent years.

Customer preferences: Egyptian consumers are increasingly recognizing the importance of mental health and seeking professional help to address their mental well-being. There is a growing awareness about mental health issues and a shift in societal attitudes towards seeking therapy or counseling. This change in customer preferences is driven by factors such as increased stress levels, changing social dynamics, and a greater understanding of mental health disorders.

Trends in the market: One of the key trends in the Mental Health market in Egypt is the rise of online therapy platforms and mobile applications. These platforms provide convenient and accessible mental health services to individuals who may not have easy access to traditional therapy centers. The use of technology allows for greater reach and flexibility in delivering mental health services, which is particularly important in a country with a large population and limited resources.Another trend is the integration of mental health services into primary care settings. This approach aims to address the stigma associated with mental health by making it a routine part of healthcare. By integrating mental health services into primary care, individuals are more likely to seek help for their mental health concerns as it becomes a natural part of their overall healthcare routine.

Local special circumstances: Egypt has a young population, with a large percentage of the population falling within the working-age group. This demographic trend has contributed to an increased focus on mental health in the workplace. Employers are recognizing the importance of supporting the mental well-being of their employees and are implementing initiatives such as employee assistance programs and mental health awareness campaigns. This emphasis on workplace mental health is driving the demand for mental health services in Egypt.

Underlying macroeconomic factors: Egypt has undergone significant economic reforms in recent years, leading to improved economic stability and increased foreign investment. This has resulted in a growing middle class with higher disposable incomes. As individuals have more financial resources, they are more willing to invest in their mental health and seek professional help when needed. The improving economic conditions in Egypt have created a favorable environment for the growth of the Mental Health market.In conclusion, the Mental Health market in Egypt is experiencing growth and development due to changing customer preferences, such as increased awareness and acceptance of mental health issues. The market is also influenced by trends such as the rise of online therapy platforms and the integration of mental health services into primary care settings. Local special circumstances, such as the emphasis on workplace mental health, further contribute to the growth of the market. Additionally, the improving macroeconomic factors in Egypt, including economic stability and a growing middle class, are driving the demand for mental health services.

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.