Mental Disorder Treatment MarketSize and Trends

The global mental disorder treatment market is estimated to be valued at US$ 48.4 Billion in 2020 and is expected to exhibit a CAGR of 6.6% during the forecast period (2020-2027).

Figure 1. Global Mental Disorder Treatment Market Value (US$ Bn), 2016-2027

The increasing prevalence of mental disorders such as depression is expected to propel growth of the global mental disorder treatment market during the forecast period. For instance, according to the World Health Organization report published in 2019, stated that depression is the most common mental disorder globally and around 264 million individuals suffered from depression globally, in the year 2019.

Furthermore, key companies focusing on product approvals by regulatory bodies for the treatment of mental disorders is expected to propel growth of the global mental disorder treatment market during the forecast period. For instance, in May 2019, Allergan plc. and Gedeon Richter Plc. announced that the U.S. Food and Drug Administration (FDA) approved its VRAYLAR (cariprazine) as a supplemental new drug application (sNDA) for the treatment of depressive episodes associated with bipolar I disorder (bipolar depression) in adults.

Global Mental Disorder Treatment Market – Impact of Coronavirus (COVID-19)

Following the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it a public health emergency. According to the World Health Organization’s report, manifestation of coronavirus (COVID-19) has resulted in over 65.1 million infected individuals worldwide as of 4^th December, 2020.

The coronavirus (COVID-19) pandemic and resulting lockdown in various countries across the globe have impacted the financial status of major companies in the mental disorder treatment market. The private healthcare sector is one of the sectors, which has been majorly impacted by the COVID-19 pandemic. The pandemic has negatively impacted the global mental disorder treatment market in various aspects such as development, production, and supply of medicines and also affected growth of the pharmaceutical businesses of various companies across the globe due to lockdowns implemented by governments of several countries. The nationwide lockdowns have led to closure of industrial establishments, except manufacturing of essential commodities and disruption in supply chain of the raw materials and drugs for therapeutic use.

Figure 2. Global Mental Disorder Treatment Market Share (%), By Region, 2020