Mental Health - Germany

Germany

Revenue in the Mental Health market is projected to reach US$1.24bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.60%, resulting in a market volume of US$1.27bn 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$149.90 are generated in 2024.

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

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Analyst Opinion

The Mental Health market in Germany has experienced significant growth in recent years, driven by changing customer preferences and increasing awareness of mental health issues.

Customer preferences: Customers in Germany are increasingly seeking out mental health services and products to address a variety of issues, including stress, anxiety, and depression. This shift in preferences can be attributed to several factors. Firstly, there is a growing recognition of the importance of mental well-being and its impact on overall health. Secondly, societal attitudes towards mental health have become more accepting, reducing stigma and encouraging individuals to seek help. Lastly, the COVID-19 pandemic has further highlighted the need for mental health support, as many people have experienced increased stress and anxiety due to the uncertainties and challenges brought about by the crisis.

Trends in the market: One of the key trends in the Mental Health market in Germany is the increasing demand for digital mental health solutions. This includes mobile applications, online therapy platforms, and virtual support groups. These digital solutions offer convenience and accessibility, allowing individuals to access mental health support from the comfort of their own homes. The COVID-19 pandemic has accelerated this trend, as lockdowns and social distancing measures have limited in-person interactions.Another trend in the market is the integration of mental health services into primary care settings. This approach recognizes the interconnectedness of physical and mental health, and aims to provide holistic care to individuals. By integrating mental health services into primary care, patients can receive comprehensive support and treatment for both their physical and mental well-being.

Local special circumstances: Germany has a well-established healthcare system, which includes coverage for mental health services. This has contributed to the growing demand for mental health support, as individuals have access to affordable or even free services. Additionally, Germany has a strong tradition of psychotherapy, with a high number of trained therapists and psychologists available to provide treatment.

Underlying macroeconomic factors: The German economy has been relatively stable in recent years, with low unemployment rates and a strong social welfare system. This has provided individuals with the financial means to seek out mental health services and products. Furthermore, the German government has recognized the importance of mental health and has implemented policies and initiatives to support mental well-being. This includes funding for research and the expansion of mental health services.In conclusion, the Mental Health market in Germany is experiencing growth due to changing customer preferences, increasing awareness of mental health issues, and the availability of digital solutions. The integration of mental health services into primary care settings and the strong support from the German healthcare system have also contributed to the market's development. With the ongoing focus on mental health and well-being, the market is expected to continue to grow 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.