Stress management will play a central role in the growth of organizations. Mental wellness market to reach over $200 billion by 2027

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The global mental wellness market size was valued at $138.5 billion in 2021 and is expected to reach $200 billion by 2027.

Chicago, April 26, 2022 (GLOBE NEWSWIRE) — According to Arizton’s latest research report, the mental wellness market will grow at a CAGR of 6.3% during the period 2022-2027. North America and Asia-Pacific are the major revenue-generating regions of the market. In recent years, people have become more health conscious and are increasingly adopting stress management programs. People are increasingly aware of stress and its management, as it reduces the ability to function effectively, think clearly and enjoy life. The growing recognition is therefore expected to boost the stress management market over the forecast period.

Mental well-being Scope of the market report

REPORT ATTRIBUTES

DETAILS

MARKET SIZE (2027)

200 billion dollars

CAGR (2022-2027)

6.35%

YEAR OF REFERENCE

2021

FORECAST YEAR

2022-2027

MARKET SEGMENTS

Disorder, type of well-being and age group

GEOGRAPHICAL ANALYSIS

North America, APAC, Europe, Latin America, Middle East and Africa

REGION COVERED

United States, Canada, China, Japan, South Korea, Australia, India, Germany, United Kingdom, Italy, France, Spain, Brazil, Mexico, South Africa and Saudi Arabia

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Increase in use ohsmartphones

Rising disposable income allows consumers to purchase smartphones rather than traditional mobile devices, leading to a growing number of operators of mental wellness programs. As mobile phone use is ubiquitous and mental health-focused mobile apps flood the app market, mobile health (mHealth) interventions, which use mobile technologies and devices for mental health issues, are gaining popularity. The increase in the number of smartphones sold and increased familiarity are the main drivers for the increase in the number of operators of mental wellness programs. The growing penetration of smartphones is making it easier for more consumers to access mental wellness programs, thereby driving the mental wellness market.

key ideas

  • The demand for mental wellness solutions is driven by people increasingly seeking activities, products and services that help with mental health issues. The market has witnessed growth during the pandemic period as the onset of the pandemic and associated restrictions have increased the level of stress among people across the globe.

  • The vacuum segment holds the highest revenue share in the market; it is also expected to grow at the highest growth rate at a CAGR of 7.97% during the period 2022-2027, owing to the rising prevalence of depression and its associated effects across the world.

  • Sensory spaces and sleep segment hold the highest revenue share of the market, while meditation and mindfulness are also expected to grow at the highest growth rate with a CAGR of 8.73% during the period 2022-2027.

  • The growing use of data analytics, the use of technology to create results, and the increasing use of artificial intelligence have created new opportunities in the market.

  • The North American region has been the largest revenue contributor in the global mental wellness market. It is also expected to witness the highest growth rate during the forecast period.

  • Factors such as the increased adoption of smartphones and tablets in developing countries have led to growing engagement of the population in mental wellness programs.

  • The global mental wellness market is fragmented and the degree of fragmentation is expected to accelerate over the forecast period. There are a significant number of global and domestic providers in all geographies.

  • Global players such as Skillpath, FranklinCovey, Amare Global and Headspace are trying to expand their markets through profitable partnerships, while national providers capitalize with the portfolio of products and services that best meet national needs and desires.

  • Vendors compete in terms of service delivery, brand value, customization ability, price, skilled labor and technological capability. Most providers offer mental wellness services and wellness portals. Providers also tend to partner with tech companies to develop mental wellness programs.

Know more: https://www.arizton.com/market-reports/mental-wellness-market

Competitive landscape

Over the past couple of years, the mental wellness market has seen the entry of many external players, such as the internal departments of large corporations and other health and fitness entities that offer discounted prices. membership to increase their market share.. Mergers and acquisitions are common in the industry as players seek to expand and become more comprehensive in terms of offerings. Companies are launching new and advanced products to bolster their portfolios and meet market demands.

On youhe signals

Browse the 220+ page Mental Wellness market report comprising 92 tables and 88 exhibits to develop an in-depth understanding of the market.

The Mental Wellness Market is provided for the forecast years 2022 to 2027 and the base year 2021. The market is segmented by disorder, type, age group and geography for the years considered. The strength and strategies undertaken by the players were also discussed. The report provides a holistic approach to the global mental health market to enable clients to effectively analyze the market.

For more information and market details, a Analyst discussion can also be arranged at client’s feasibility.

Explore our health and wellness profile to learn more about the industry.

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Lily Ssome of Jop-Selling Rreports :

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