Mental Health - Mexico

Mexico

Revenue in the Mental Health market is projected to reach US$566.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.61%, resulting in a market volume of US$580.10m 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$53.45 are generated in 2024.

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

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Analyst Opinion

The Mental Health market in Mexico is experiencing significant growth and development due to various factors.

Customer preferences: In recent years, there has been a growing awareness and acceptance of mental health issues in Mexico. This has led to an increased demand for mental health services and treatments. Customers are seeking professional help to address their mental health concerns and improve their overall well-being. There is also a preference for holistic approaches that focus on both the mind and body, such as therapy, meditation, and alternative treatments.

Trends in the market: One major trend in the Mental Health market in Mexico is the increasing availability and accessibility of mental health services. More mental health clinics, hospitals, and specialized centers have been established to meet the growing demand. Teletherapy and online counseling services have also gained popularity, providing convenient and remote access to mental health professionals. Additionally, there is a growing trend of incorporating mental health services into primary care settings, making it easier for individuals to seek help.Another trend is the integration of technology into mental health treatments. Mobile applications and digital platforms are being developed to provide mental health support, self-help tools, and resources. These technological advancements have made it easier for individuals to track their mental health, access information, and connect with professionals.

Local special circumstances: Mexico faces unique challenges when it comes to mental health. The country has a high prevalence of mental health disorders, including depression and anxiety. These disorders are often associated with the stress and pressure of modern life, as well as socio-economic factors such as poverty and inequality. The stigma surrounding mental health issues also poses a challenge, as many individuals may be reluctant to seek help due to fear of discrimination or social judgment.

Underlying macroeconomic factors: Mexico's growing economy and rising middle class have contributed to the development of the Mental Health market. As individuals have more disposable income, they are able to afford mental health services and treatments. Additionally, the government has recognized the importance of mental health and has taken steps to improve access to care. This includes the implementation of mental health policies, the expansion of mental health services in public healthcare facilities, and the integration of mental health into primary care.In conclusion, the Mental Health market in Mexico is experiencing growth and development due to increasing customer preferences for professional help, holistic approaches, and technological advancements. The availability and accessibility of mental health services have improved, and the government has taken steps to address the unique challenges faced by the country. With continued focus on mental health awareness and support, the market is expected to further expand 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.