Mental Health - Turkey

Turkey

Revenue in the Mental Health market is projected to reach US$148.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.20%, resulting in a market volume of US$149.20m 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$18.86 are generated in 2024.

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

Market

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Analyst Opinion

The Mental Health market in Turkey is experiencing significant growth and development, driven by various factors such as increasing awareness of mental health issues, changing attitudes towards seeking help, and the availability of innovative treatment options.

Customer preferences: Customers in Turkey are increasingly prioritizing their mental health and seeking professional help to address their mental health concerns. There is a growing acceptance and recognition of the importance of mental well-being, leading to an increased demand for mental health services. Individuals are actively seeking therapy and counseling to manage stress, anxiety, depression, and other mental health conditions. Additionally, there is a rising interest in holistic approaches to mental health, such as mindfulness and meditation practices.

Trends in the market: One of the key trends in the Mental Health market in Turkey is the adoption of digital platforms and telehealth services. With the advancements in technology and the widespread use of smartphones, online therapy and counseling services have gained popularity. These platforms provide convenience and accessibility to individuals who may face barriers to seeking in-person mental health services. The COVID-19 pandemic has further accelerated the adoption of telehealth services, as it allows individuals to receive support and treatment from the comfort of their own homes.Another trend in the market is the integration of mental health services into primary healthcare settings. The Turkish government has recognized the importance of mental health and has taken steps to integrate mental health services into the primary healthcare system. This initiative aims to increase accessibility and reduce the stigma associated with seeking mental health support. Primary care providers are being trained to identify and address mental health issues, ensuring that individuals receive timely and appropriate care.

Local special circumstances: Turkey has a relatively young population, with a significant percentage of the population under the age of 30. This demographic trend contributes to the growth of the Mental Health market, as younger individuals are more open to seeking help and addressing their mental health concerns. Additionally, the urbanization and modernization of Turkish society have led to increased stress levels and mental health challenges, further driving the demand for mental health services.

Underlying macroeconomic factors: The Turkish economy has been experiencing steady growth in recent years, which has contributed to an increase in disposable income and healthcare spending. As individuals have more financial resources, they are more likely to invest in their mental well-being and seek professional help when needed. Furthermore, the Turkish government has been investing in the healthcare sector, including mental health services, which has improved the accessibility and quality of care available to the population.In conclusion, the Mental Health market in Turkey is witnessing significant growth and development due to increasing awareness, changing attitudes, and the availability of innovative treatment options. Customers are prioritizing their mental health and seeking professional help, leading to a rise in demand for mental health services. The adoption of digital platforms and telehealth services, as well as the integration of mental health services into primary healthcare settings, are key trends in the market. The relatively young population, urbanization, and economic growth of Turkey contribute to the expansion of the Mental Health 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.