About 7.5% of Indians suffer from some mental disorder and predicts that by end of this year roughly 20% of India will suffer from mental illnesses. Also, the mental health workforce in India is not up to the mark and there is a huge shortage of psychiatrists and psychologists in the country as compared to the number of people suffering from mental health issues. WHO states that in India, (per 100,000 population) there are psychiatrists (0.3), nurses (0.12), psychologists (0.07), and social workers (0.07), while the desirable number is anything above 3 psychiatrists and psychologists per 100,000 population. Moreover, fear and anxiety about the disease and the overwhelmed healthcare system have spread through the population, causing a decline in mental health throughout the country. Furthermore, There has been an increase of over 50% among senior citizens when it comes to mental health disorders, India-based Agewell Foundation. As per a survey of 5000 elderly people by Agewell, around 63% reported developing symptoms of depression which was due to loneliness and social isolation caused by restrictions brought in to curb the spread of the virus. 1 in 5 Indians is expected to suffer from depression in their lifetime.
According to UnivDatos Market Insights (UMI)’ research report “India Mental Health Analysis, 2020”, the mental health market is projected to grow at a considerable CAGR during 2022-28F. The growing working population in India is one of the prominent factors contributing to the growth of the mental health market. In 2020, there were around 501 million workers in India, the second largest after China. Further, the proportion of the working-age population is expected to increase from 61% in 2011 to 65% in 2036. India is adding 12 million people to the working population each year.
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Based on the services, the market is segmented into a emergency mental health services, outpatient counseling, home-based treatment services, inpatient hospital treatment services, and other services. In 2020, the inpatient hospital treatment services segment grabbed the major market share owing to the increasing patient pool and an ample number of patients deploying mental health solutions to enhance self-care.
Adult Segment to Witness Robust growth
Based on age group, the market is segmented into pediatric, adult, and geriatric. The adult segment had the highest revenue and CAGR growth in the analyzed period. The growth of this segment can be attributed to the growing popularity of various mental health services among the 18+ age group. This can be due to the hectic work schedules leading to increased stress among the adult population coupled with the growing prevalence of mental health disorders among adults.
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South India to Grab Lion’s Share, and witnessed Explicit Growth
Based on the region, South India dominated the India mental health market in 2020. The region is projected to maintain its dominance during the forecasted period 2022-28 owing to the higher prevalence of mental disorders in the region. South India is expected to skyrocket with a CAGR of X% in the forecast period owing, as stated in UnivDatos Market Insights (UMI)’ research report “India Mental Health Market Analysis, 2020”.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Mental Health Market include Wysa, Innerhour, Juno Clinic, YourDOST, ePsyClinic, Trijog, Headspace, Mind.fit, Mindhouse, Calm, among others. The players are focused on launching products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.
“India Mental Health Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for mental health service providers across India. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of go to Market Strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
1. By Disorders (Schizophrenia, Alcohol Use Disorders, Bipolar Disorder, Depression, Anxiety, Eating Disorders, and Other Disorders)
2. By Services (Emergency Mental Health Services, Outpatient Counseling, Home-Based Treatment Services, Inpatient Hospital Treatment Services, and Other Services)
3. By Age Group (Pediatric, Adult, and Geriatric)
4. By Region (North India, South India, East India, and West India)
5. By Company (Wysa, Innerhour, Juno Clinic, YourDOST, ePsyClinic, Trijog, Headspace, Mind.fit, Mindhouse, Calm, etc.)
Key questions answered in the study:
1. What are the current and future trends of the mental health industry?
2. How the industry has been evolving in terms of disorders, services, and age group?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the mental health industry?
5. What is the customer orientation, purchase behavior, and expectations from mental health firms across various regions?
Table of Content –
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 COVID-19 IMPACT
6 INDIA MENTAL HEALTH MARKET REVENUE
7 MARKET INSIGHTS BY DISORDERS
8 MARKET INSIGHTS BY SERVICES
9 MARKET INSIGHTS BY AGE GROUP
10 MARKET INSIGHTS BY REGION
11 INDIA MENTAL HEALTH MARKET DYNAMICS
12 INDIA MENTAL HEALTH MARKET OPPORTUNITIES
13 INDIA MENTAL HEALTH MARKET TRENDS & INSIGHTS
14 LEGAL & REGULATORY FRAMEWORK
15 DEMAND AND SUPPLY SIDE ANALYSIS
16 VALUE CHAIN ANALYSIS
17 COMPETITIVE SCENARIO
18 COMPANY PROFILED
19 DISCLAIMER
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