Mental Health - Romania

Romania

Revenue in the Mental Health market is projected to reach US$172.90m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.08%, resulting in a market volume of US$180.50m 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$134.40 are generated in 2024.

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

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Analyst Opinion

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

Customer preferences: Customers in Romania are increasingly recognizing the importance of mental health and are seeking professional help and support. There is a growing awareness about mental health issues and a shift in societal attitudes towards seeking treatment. As a result, there is a rising demand for mental health services, including therapy, counseling, and psychiatric care.

Trends in the market: One of the key trends in the Mental Health market in Romania is the increasing adoption of telehealth services. This trend has been accelerated by the COVID-19 pandemic, which has made in-person visits to healthcare facilities more challenging. Telehealth allows individuals to access mental health services from the comfort of their own homes, providing convenience and reducing barriers to care. This trend is expected to continue as more people become accustomed to the benefits of remote healthcare.Another trend in the market is the integration of technology into mental health services. Mobile applications, online platforms, and wearable devices are being used to monitor and manage mental health conditions. These digital tools provide individuals with greater access to self-help resources, tracking tools, and virtual support networks. The use of technology in mental health care is expected to expand as the market continues to evolve.

Local special circumstances: Romania has a relatively high prevalence of mental health disorders compared to other European countries. This is partly due to the country's history of political and economic challenges, which have had a significant impact on the mental well-being of its population. The Romanian government has recognized the need to address mental health issues and has implemented various initiatives to improve access to care and support.

Underlying macroeconomic factors: Romania is experiencing economic growth, which has contributed to increased healthcare spending and improved access to mental health services. The government has been investing in the development of mental health infrastructure and training programs for healthcare professionals. Additionally, Romania is a member of the European Union, which provides funding and support for mental health initiatives.In conclusion, the Mental Health market in Romania is growing and evolving to meet the increasing demand for services. Customer preferences are shifting towards seeking professional help and support, and there is a growing adoption of telehealth and technology in mental health care. The local special circumstances, including the high prevalence of mental health disorders, and underlying macroeconomic factors, such as economic growth and government initiatives, are driving the 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.