Mental Health - Lithuania

Lithuania

Revenue in the Mental Health market is projected to reach US$35.67m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.08%, resulting in a market volume of US$38.73m 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$144.10 are generated in 2024.

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

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Analyst Opinion

The Mental Health market in Lithuania is experiencing significant growth and development.

Customer preferences: Customers in Lithuania are increasingly prioritizing their mental health and seeking professional help and support. There is a growing awareness and acceptance of mental health issues, leading to a higher demand for services such as therapy, counseling, and psychiatric treatment. Customers are looking for accessible and affordable options that can provide them with effective solutions to their mental health concerns.

Trends in the market: One of the key trends in the Mental Health market in Lithuania is the increasing availability of online mental health services. This trend has been accelerated by the COVID-19 pandemic, which has highlighted the importance of remote and digital solutions. Online therapy platforms and mental health apps are gaining popularity among customers, as they offer convenience, flexibility, and anonymity. These platforms provide a range of services, including virtual therapy sessions, self-help resources, and personalized treatment plans.Another trend in the market is the integration of mental health services into primary healthcare settings. Recognizing the importance of early intervention and prevention, healthcare providers are incorporating mental health screenings and assessments into routine medical check-ups. This integration allows for early identification and treatment of mental health issues, reducing the stigma associated with seeking specialized mental health services.

Local special circumstances: Lithuania has a high prevalence of mental health disorders, with a significant portion of the population experiencing conditions such as depression, anxiety, and substance abuse. This has created a pressing need for accessible and effective mental health services. The government has recognized this need and has taken steps to improve mental health care in the country. Initiatives such as the development of community mental health centers and the implementation of mental health awareness campaigns have been introduced to address the growing demand for services.

Underlying macroeconomic factors: The growing Mental Health market in Lithuania is also influenced by macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income. As individuals have more financial resources, they are more willing to invest in their mental well-being. Additionally, the government has increased funding for mental health services, allowing for the expansion and improvement of existing facilities and programs.In conclusion, the Mental Health market in Lithuania is developing due to the increasing customer preferences for mental health services, including online platforms and integrated healthcare solutions. The local special circumstances, such as the high prevalence of mental health disorders, and the underlying macroeconomic factors, such as economic growth and government funding, are driving the growth and development of the market.

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.