Mental health issues are very common around the world, according to the World Health Organization’s, World Mental Health Report. Around one in eight persons worldwide suffer from a mental illness. The prevalence of different mental disorders varies with sex and age. In both males and females, anxiety disorders and depressive disorders are the most common.
Our overall health and well-being depends on having a good mental health, which is also a fundamental human right. We can connect, function, cope, and thrive better when we have good mental health. A tricky spectrum of mental health exists, with experiences ranging from a state of maximum wellbeing to crippling conditions of extreme suffering and emotional anguish. Although this is not always or necessarily the case, people with mental health disorders are more likely to have lower levels of mental well-being.
Individual, family, community, and structural factors may interact at any given time to support or jeopardise our mental health and cause us to move along the mental health continuum. Despite the fact that most people are extraordinarily resilient, those who are exposed to adverse conditions, such as poverty, violence, and injustice, social media bullying are more likely to suffer from mental health issues. Risks can appear at any stage of life, but those that happen during developmentally vulnerable times, notably early childhood and teenage, are most harmful.
The economic costs of mental health issues are significant overall. Expenses of lost productivity and other indirect expenses to society can exceed those of medical care. Schizophrenia is the most expensive mental illness to society as a whole, economically speaking. However, because they are more common, depressive and anxiety disorders significantly increase overall national expenses despite being far less expensive per person.
Mental health issues are not only widespread and expensive, but they are also woefully undertreated. Major information and research, governance, resource, and service shortages and inequities are present throughout the world’s mental health systems. Mental health is frequently given less attention than other medical issues, and community-based mental health services are routinely underpaid in mental health budgets.
Less than 2% of national health care spending is typically allocated to mental health. The majority of money spent on mental health in middle-income nations still goes to psychiatric facilities. A little over half of the world’s population resides in nations with only one psychiatrist for every 200 000 or more residents.
Additionally, it is difficult to find affordable, necessary psychotropic medications, especially in low-income nations. People are discouraged from getting treatment for mental health issues for a number of reasons, such as inadequate resources, a lack of health literacy in this area, stigma, and prejudice.
Public health, human rights, and socioeconomic development are the three basic justifications for investing in mental health.
Investing in mental health improves public health for all. It can significantly lessen suffering and enhance a person’s health, quality of life, functioning, and life expectancy. To close the enormous treatment gap and lessen mental health disparities, expanded coverage and financial protection are essential steps. To that purpose, it is crucial to incorporate mental health into bundles of fundamental services included in universal health coverage. The same goes for combining physical and mental health care, which increases accessibility, lessens resource fragmentation and duplication, and better serves people’s health requirements.
Social Media Use and Its Connection to Mental Health
Social media has completely changed how individuals communicate, share information, and connect with one another in the modern world. Although it has many advantages, such as improving communication and knowledge sharing, its impact on mental health has drawn concern.
People now use social media on a regular basis; many of them spend hours on Messenger, Instagram, Facebook, and other well-known platforms.
Low mood, the absence of any pleasant emotions, and a variety of related cognitive, physical, emotional, and behavioural symptoms are all signs of mental health issues. One in five people are affected by this highly prevalent illness. Depression is a result of various variables, including genes, stress, and changes in brain chemistry. The WHO estimates that in 2020, more than 264 million people of all ages experienced depression. A substantial component to the overall global disease burden is depression, which is a primary cause of disability globally.
In its 2022 Global Gen Z Survey, the McKinsey Health Institute (MHI) polled more than 42,000 respondents in 26 nations on four different continents on their mental, physical, social, and spiritual health. Gen Zers tend to express unfavourable views about social media more frequently than previous generations. They also have a higher tendency to report having mental health issues.
However, correlation does not imply causation, and our results suggest that there is a complicated link between social media use and mental health. Unexpectedly, older generations are equally active on social sites as Gen Zers are. For instance, millennials are the most likely to post on social media, while baby boomers report spending the same amount of time there as Gen Zers in eight of the 26 countries questioned.
Aside from the fact that social media has both good and negative effects, all cohorts reported experiencing both. More than half of all groups indicated social connectivity and self-expression as social media benefits.
There are also indications that younger people have access to resources for supporting mental health. Compared to other generations, Gen Z respondents are more likely to utilise digital wellness apps and digital mental health programmes. Additionally, respondents claim that some facets of social media use, such using it for self-expression, can improve their mental health. Among those most likely to mention social media as a means of maintaining connections and reducing loneliness are young refugees and asylum seekers.
Findings indicate a complex link between mental health and social media use. Across cohorts, about one-third of respondents report beneficial effects of social media on mental health, although claimed negative effects vary with generation.
Younger generations appear to be most affected negatively, with Gen Zers who spend more than two hours per day on social media had poor mental health. Asia had the lowest likelihood of reporting negative effects from social media among Gen Z respondents, whereas Europe and Oceania had the highest likelihood.
Listed below are some ways that social media may affect one’s mental health:
Social media frequently portrays idealized depictions of people’s lives, which encourages social comparison. Users may experience poor self-esteem and feelings of inadequacy when comparing their lives to the meticulously curated and filtered content of others.
Online harassment and cyberbullying: Social media platforms can serve as a fertile ground for these behaviors. Anxiety, depression, and even suicidal thoughts may be experienced by those who are the victims of such behavior.
Fear of Missing Out (FOMO): Constant exposure to other people’s lives that seem exciting and adventurous can cause a fear of missing out on events, which can exacerbate feelings of anxiety and loneliness.
Social media’s addictive nature and screens’ blue light emissions can cause sleep disturbances, which can result in sleep deprivation and its related effects on mental health.
Echo Chambers & Confirmation Bias: Social media algorithms frequently present users with content that supports their preexisting ideas, resulting in echo chambers and bolstering confirmation bias. As a result, there may be more polarisation and feelings of rage, frustration, or worry may be stronger.
Overuse of social media can result in addictive behaviours and time management issues, which can lower productivity and increase stress.
Body Image and Eating Disorders: The focus placed on looks and beauty standards in social media can have a negative effect on one’s body image and aid in the emergence of eating disorders.
Self-Worth and Validation: Relying on social media for self-validation can result in a dependency on outside acceptance, leaving people prone to emotional discomfort when they don’t get the expected reactions.
Social Isolation and Loneliness: It’s ironic that, despite social media’s emphasis on connectivity, over use of the platform can result in loneliness and social isolation in real life.
Misinformation and Anxiety: When people share and believe erroneous or misleading content on social media, it can cause anxiety and tension.
It is important to understand that not all negative effects of social media on mental health exist. Social media may serve as a useful platform for some people to express themselves, connect with others, and find assistance. Social media usage patterns, content consumption, and pre-existing mental health disorders are some of the many variables that influence the relationship between social media and mental health.
People can use social media with awareness, establish boundaries, and seek help if they feel overwhelmed to lessen the negative consequences. Additionally, social media sites can take action to encourage responsible content sharing, combat cyberbullying, and offer resources for mental health help.
Mental Health Market
Healthcare providers, technology companies, pharmaceutical companies, mental health practitioners, and other groups trying to improve mental health care are just a few of the many stakeholders in the market.
Important elements of the market for mental health include:
Services provided by psychiatrists, psychologists, counsellors, therapists, and other mental health practitioners fall under the category of “mental health services.” These services might be offered face-to-face or via telehealth platforms.
Pharmaceuticals: The development and production of pharmaceuticals for the treatment of mental health issues, such as antidepressants, antipsychotics, anxiolytics, and mood stabilisers, is mostly the responsibility of the pharmaceutical industry.
Digital Mental Health: The rise of technology has led to the development of digital mental health solutions. These include mental health apps, online therapy platforms, virtual reality-based therapies, and wearable devices designed to monitor mental health.
Corporate Mental Health Programmes: To encourage a healthy work environment and boost productivity, many businesses now provide mental health assistance and wellness programmes for their staff.
Numerous non-profit organizations and advocacy groups seek to increase understanding of mental health, lessen stigma, and offer assistance to those who are struggling with mental health concerns.
Research and development: To create more efficient and evidence-based therapies, research institutions and businesses engage in investigating mental health diseases, their causes, and prospective remedies.
Wellness and Self-Care: The market for mental health also includes goods and services that encourage overall wellness, as well as self-care routines like meditation applications, stress-relieving items, and relaxation techniques.
Insurance firms and healthcare payers may offer plans that include mental health services since they are beginning to recognise the need of providing coverage for mental health issues.
The market for mental health services worldwide, which was valued at $383.31 billion in 2020, is anticipated to expand to $537.97 billion by 2030, at a CAGR of 3.5%.
The market is growing as a result of knowledge about an increase in the prevalence of mental diseases, an increase in the elderly population, and an expansion of awareness campaigns for mental health. The global market for mental health is also expanding as a result of increased education about mental diseases, advocacy work for more human rights respect, and efforts to reduce stigma. However, it is anticipated that the rising expense of mental health programmes and drug usage will restrain market expansion.
The mental health market is segmented on the basis of disorder, services, age group, and region. By disorder, the market is categorized into schizophrenia, alcohol use disorders, bipolar disorder, depression, anxiety, post-traumatic stress disorder, substance abuse disorders, eating disorders, and other disorders. By services, the market is divided into emergency mental health services, outpatient counselling, home-based treatment services, inpatient hospital treatment services, and other services. By age group, it is fragmented into pediatric, adult, and geriatric.
According to disorder, the depression market segment dominated in 2020 and is predicted to remain so for the duration of the projected period. This is explained by the rise in incidences of anxiety, depression, and suicide, which has raised awareness of mental health issues around the world. The inpatient hospital treatment services category dominated the market in terms of services in 2020, and this trend is anticipated to hold throughout the forecast period. This is explained by an increase in the prevalence of mental illnesses, a larger patient population, and a large number of patients using self-care tools for mental health.
Due to increased adoption of cutting-edge technologies and increased awareness of mental health among healthcare professionals and people working in the corporate sector, North America accounted for a significant portion of the global market for mental health in 2020 and is anticipated to maintain its leadership during the forecast period. Additionally, the expansion of mental health initiatives in the healthcare industry to create novel services and the presence of significant competitors operating in the region fuel the market’s expansion. However, the Asia-Pacific region is anticipated to see the highest CAGR between 2021 and 2030 due to rising health awareness, improved healthcare infrastructure, and an increase in the number of hospitals with cutting-edge medical equipment.
Acadia Healthcare, The MENTOR Network, Universal Health Services, Inc., Behavioural Health Network, Inc., CareTech Holdings PLC, Strategic Behavioural Health, Ascension Seton, North Range Behavioural Health, Pyramid Healthcare, and Promises Behavioural Health are some of the major players in the international market.
Conclusion
The main driving force for the expansion of the worldwide market for mental health comprises The global market for mental health is expanding as a result of factors such as the rising incidence of chronic diseases and behavioural health issues, increased awareness of stress management techniques, and increased public awareness of mental disorders thanks to campaigns for more human rights respect and less stigma, social media usage etc.However, the market expansion is anticipated to be hampered by the rising expense of mental health programmes and drug usage.
In order to handle the rising need for mental health services and support, governments, healthcare organisations, and stakeholders in the sector continue to work together to develop comprehensive strategies and provide resources. The objective is to develop a more diverse and efficient mental health ecosystem that can meet the many requirements of people who are dealing with mental health issues.
References:
https://www.mcleanhospital.org/essential/it-or-not-social-medias-affecting-your-mental-health
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7364393/
https://www.mckinsey.com/mhi/our-insights/gen-z-mental-health-the-impact-of-tech-and-social-media
https://www.statista.com/outlook/hmo/mental-health/worldwide#revenue
https://www.researchandmarkets.com/reports/5439763/mental-health-market-by-disorder-service-and
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