Mental Health - Kenya

Kenya

Revenue in the Mental Health market is projected to reach US$33.77m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.78%, resulting in a market volume of US$34.84m 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$7.43 are generated in 2024.

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

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Analyst Opinion

The Mental Health market in Kenya is experiencing significant growth and development due to various factors. Customer preferences for mental health services have evolved, leading to an increased demand for accessible and affordable care. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the expansion of the market.Customer preferences in the Mental Health market in Kenya have shifted towards a greater emphasis on holistic well-being and mental wellness. As awareness about mental health issues increases, individuals are seeking professional help to address their mental health concerns. This has led to a rise in the demand for mental health services, including therapy, counseling, and psychiatric treatment.Furthermore, customers in Kenya are increasingly looking for convenient and accessible mental health services. The proliferation of digital platforms and telemedicine has made it easier for individuals to access mental health care remotely, eliminating geographical barriers and reducing the stigma associated with seeking help. This trend has further fueled the growth of the Mental Health market in Kenya.In terms of trends in the market, there has been a notable increase in the number of private mental health clinics and facilities in Kenya. These clinics offer a wide range of services, including individual therapy, group therapy, and specialized treatment programs for specific mental health conditions. The availability of these services has significantly improved access to mental health care for individuals in Kenya.Additionally, there has been a growing focus on community-based mental health initiatives in Kenya. Non-profit organizations and community groups are working towards raising awareness about mental health, providing support to individuals in need, and advocating for better mental health policies. These initiatives have helped reduce the stigma surrounding mental health and have encouraged more people to seek help.Local special circumstances in Kenya, such as a high prevalence of mental health disorders and limited resources, have also contributed to the development of the Mental Health market. Kenya has a relatively high burden of mental health disorders, including depression, anxiety, and substance abuse. The limited availability of public mental health services has created an opportunity for private providers to fill the gap and meet the growing demand for mental health care.Underlying macroeconomic factors, such as economic growth and urbanization, have also played a role in the development of the Mental Health market in Kenya. As the country's economy continues to grow, more individuals have disposable income to spend on mental health services. Additionally, urbanization has led to increased stress levels and lifestyle changes, contributing to the rise in mental health issues and the subsequent demand for mental health care.In conclusion, the Mental Health market in Kenya is experiencing significant growth and development due to evolving customer preferences, local special circumstances, and underlying macroeconomic factors. The demand for accessible and affordable mental health care, coupled with the rise of digital platforms and community-based initiatives, has fueled the expansion of the market. As awareness about mental health continues to grow, the Mental Health market in Kenya is expected to further develop and provide essential services to individuals in need.

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.