Mental fitness is the ability of an individual to cope with psychological demands while dealing with day-to-day activities. Higher mental fitness level creates positive behavioural changes in individuals. This assists them to lead a successful personal, social and professional life. Physical fitness has received plenty of attention across countries and cultures, however, the topic of mental health is still viewed with scepticism in regions like the Middle East and the Asia Pacific. This is due to the numerous misconceptions and a lack of awareness related to mental wellbeing. Government bodies are initiating various programs to create awareness regarding the necessity of mental fitness and its benefits. Furthermore, there is an also an increasing focus on online mental health services. For instance, the World Health Organization launched a special initiative for mental health awareness to more than 100 million people in 2019. Similarly, the U.K government and National Health Service (NHS) announced a range of initiatives in January 2019 to promote mental wellbeing in the UK. The higher focus by government bodies to promote mental well-being amongst individuals is helping in the growth of the global mental fitness market.
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Amidst the recent outbreak of COVDI-19 pandemic, the mental health of individuals, especially among the salaried class and small business owners, has taken a serious hit. Loss of jobs, salary cuts, pressure of staying indoors, etc., has contributed to deterioration of mental wellbeing amongst individuals. The companies are increasingly targeting these individuals through online counseling and therapy sessions. Thus, the COVID-19 pandemic has created opportunities for growth in the global mental fitness market.
The detailed research study provides qualitative and quantitative analysis of mental fitness market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Key Findings of the Report:
- Global mental fitness market was valued at US$ 4648.3 Mn in 2018 and is anticipated to grow at a CAGR of 18.22% over the forecast period, owing to increasing levels of stress, especially amongst the working aging group
- Based on end users, businesses are anticipated to witness highest growth rate in global mental fitness market over forecast years. The growing adoption of strategies by corporates to boost mental health of their employees is driving the share of businesses in the global mental fitness market.
- Online channels for delivery of mental fitness services is gaining popularity owing to its flexibility. It also enables doctors to cater multiple patients remotely, and helps in reducing the treatment gap. These factors are propelling the share of online channels in the global mental fitness market.
- The Asia Pacific region is expected to register the highest compound annual growth rate (CAGR) over the forecast period. The rising literacy levels and penetration of technology in the countries such as China, India, Malaysia, and Indonesia is reducing the stigma related to mental health problems. The region thus has immense scope for growth, as individuals are increasingly focusing on the need and importance of sound mental health.
- Some of the players operating in the mental fitness market are 7 Cups of Tea, BlackThorn Therapeutics, Calm.com, CBT Thought Record Diary, COMPASS, Ginger.io, Inc., Happify, Inc., HEADSPACE INC., Lyra Health, Inc., Mindstrong Health, Neuronetics, NOCD Inc., Pear Therapeutics, Inc., Quartet Health, Inc., Sanvello Health, Silvercloud Health Limited, Talkspace Network LLC, TheCalmBase and Thriveport, LLC amongst others.
Global Mental Fitness Market:
- By End-Users
- Individuals
- Businesses
- By Channel
- Online
- Offline
- By Mental Health Type
- Suicide and Mental Disorder
- Anxiety Disorder
- Post-traumatic Stress Disorder (PTSD)
- Eating Disorder
- Psychotic Disorder
- Personality Disorder
- Insomnia
- Others
- By Pricing
- On-Demand
- Subscription
- Monthly
- Annually
- By Region
- North America
- U.S
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- North America
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