India Mental Health Market: Current Analysis and Forecast (2022-2028)

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India Mental Health Market is anticipated to grow with a considerable CAGR over the forecast period (2022-2028). Mental health includes our emotional, psychological, and social well-being. It affects how we think, feels, and act as we cope with life. Problems related to mental health are characterized by the absence of positive emotion, low mood, and a range of associated cognitive, physical, emotional, and behavioral symptoms.

According to the WHO, the burden of mental health problems in India is 2443 disability-adjusted life years (DALYs) per 100 00 population; the age-adjusted suicide rate per 100 000 population is 21.1. This increase in the number of patients suffering from mental illnesses has created the need for quicker healthcare. Therefore, to address this issue, digital healthcare tools are offering the potential to scale up the treatment and decrease the cost of treatment for patients suffering from various mental illnesses which in turn is leading to growth in the adoption of various mental health applications. Furthermore, the covid-19 pandemic has also created an impact on mental health among children and young people in India. For instance, as per a survey previewed in The State of the World’s Children 2021, nearly 14% of 15 to 24-year-olds in India, or 1 in 7, reported often feeling depressed or having little interest in doing things. Moreover, The rapid growth in the working-age population in the country is also expected to drive the mental health market in the forthcoming years as they suffer from more stress leading to various mental disorders.

Total Labor Force in India, 2015–2020

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Wysa, Innerhour, Juno Clinic, YourDOST, ePsyClinic, Trijog, Headspace, Mind.fit, Mindhouse, Calm, are some of the prominent players operating in the India Mental Health Market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with Mental Health Services.

Insights Presented in the Report

“Amongst disorders, mood disorders segment held a significant share of the market in 2021”

Based on disorders, the mental health market is segmented into substance use disorders, schizophrenia and other psychotic disorders, mood disorders, neurotic and stress-related disorders, and suicidal risk & others. In 2021, the mood disorders segment grabbed the major market share and is expected to maintain its dominance during the forecast period owing to the increase in the number of people suffering from depression in India.

“Amongst services, inpatient hospital treatment services captured a prominent share of the market in 2021”

Based on services, the mental health market is segmented into emergency mental health services, home-based treatment services, inpatient hospital treatment services, and other services. In 2021, the inpatient hospital treatment services segment grabbed the major market share and is expected to maintain its dominance during the forecast period.

“North India captured a notable share in the market in 2020”

North India comprises states such as Jammu & Kashmir, Himachal Pradesh, Rajasthan, Punjab, Uttarakhand, Haryana, Delhi, Uttar Pradesh, and UT Chandigarh. Punjab has a high prevalence of alcohol use wherein over 50% male population uses alcohol. Moreover, in the terms of absolute numbers of people consuming alcohol, in 2019, 4.2 crore people consume alcohol in Uttar Pradesh making it one of the top-ranking states in India. Also, states such as Uttar Pradesh, Punjab & Delhi have a higher-than-national prevalence of cannabis use. This rise in the use of such substances is leading to an increase in mental disorders which in turn is driving the mental health market in the region. Furthermore, During the COVID-19 pandemic, there has been a growth in the number of people feeling depressed or having anxiety in the Northern region of India which is positively influencing the mental health market in the region. For instance, as per the study conducted by the Population Foundation of India, 1 out of 4 young people in Uttar Pradesh experienced depression during the lockdown in 2020.

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Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the India Mental Health Market were the three major steps undertaken to create and analyze the adoption of Mental Health in major regions of India. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Mental Health Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the India Mental Health through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the India Mental Health Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as disorders, services, and age group. Further country-level analyses were conducted to evaluate the overall adoption of Mental Health across India.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of India Mental Health. Further, we conducted factor analysis using dependent and independent variables such as the growing prevalence of various mental health disorders. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Mental Health sector across India.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the india mental health market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2028 for different segments and subsegments across the major markets in India. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of Mental Health across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the India Mental Health Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the India Mental Health Market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of disorders, services, and age group, of the India Mental Health market.

The main objective of the India Mental Health Market Study

The current & future market trends of India Mental Health were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of India Mental Health in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of disorders, services, and age group
• Define and analysis of the regulatory framework for the india mental health industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the india mental health market for the major region
• Major regions studied in the report include North America, Europe, Asia-Pacific, and Rest of the world
• Company profiles of the India Mental Health Market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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