Mental Health - Jordan

Jordan

Revenue in the Mental Health market is projected to reach US$20.36m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.15%, resulting in a market volume of US$20.48m 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$19.70 are generated in 2024.

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

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Analyst Opinion

The Mental Health market in Jordan is experiencing significant growth and development, driven by various factors such as increasing awareness of mental health issues, changing societal attitudes, and government initiatives to improve mental healthcare services.

Customer preferences: In recent years, there has been a growing recognition of the importance of mental health and well-being among the population in Jordan. People are becoming more aware of mental health issues and are seeking professional help to address their mental health concerns. This shift in customer preferences has led to an increased demand for mental health services, including counseling, therapy, and psychiatric treatment.

Trends in the market: One of the key trends in the mental health market in Jordan is the increasing adoption of telehealth and online counseling services. This trend has been accelerated by the COVID-19 pandemic, which has limited in-person interactions and increased the need for remote healthcare services. Telehealth platforms and online counseling apps provide convenient and accessible options for individuals to seek mental health support from the comfort of their homes.Another trend in the market is the integration of mental health services into primary healthcare settings. This approach aims to improve access to mental healthcare services by making them more readily available in community health centers and primary care clinics. By integrating mental health services into primary healthcare, individuals can receive holistic care that addresses both their physical and mental health needs.

Local special circumstances: Jordan faces unique challenges in the mental health sector, including a shortage of mental health professionals and limited resources for mental healthcare. The country has a relatively low number of psychiatrists and psychologists per capita, leading to long waiting times for individuals seeking mental health services. Additionally, there is a stigma associated with mental health issues in Jordanian society, which can discourage individuals from seeking help.

Underlying macroeconomic factors: The development of the mental health market in Jordan is also influenced by macroeconomic factors. The country has been experiencing economic growth, which has led to an increase in disposable income and a higher standard of living for many individuals. As a result, people are more willing to invest in their mental well-being and seek professional help when needed.Furthermore, the Jordanian government has recognized the importance of mental health and has implemented various initiatives to improve mental healthcare services. These initiatives include the establishment of mental health clinics, the training of mental health professionals, and the integration of mental health services into primary healthcare settings. These efforts have contributed to the growth of the mental health market in Jordan and have helped to reduce the stigma associated with mental health issues.In conclusion, the Mental Health market in Jordan is experiencing growth and development due to increasing awareness of mental health issues, changing societal attitudes, and government initiatives. The market is characterized by customer preferences for convenient and accessible mental health services, such as telehealth and online counseling. However, the market also faces challenges such as a shortage of mental health professionals and societal stigma. Overall, the macroeconomic factors and government initiatives are driving the growth of the mental health market in Jordan.

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.