Demand for mental healthcare is on the rise.
In fact, “As the impact of the pandemic on mental health continues, psychologists are reporting a large increase in demand for treatment of anxiety and depression compared with last year, according to a new survey by the American Psychological Association. More than 8 in 10 (84%) psychologists who treat anxiety disorders said they have seen an increase in demand for anxiety treatment since the start of the pandemic, compared with 74% a year ago. Demand for treatment of depression is also up, with 72% of psychologists who treat depressive disorders saying they have seen an increase, compared with 60% in 2020. Other treatment areas with greater demand included sleep-wake disorders, obsessive-compulsive and related disorders, and substance-related and addictive disorders, the survey found.”
Some of the companies racing to help with mental healthcare include NeonMind Biosciences (CSE:NEON)(OTC:NMDBF), COMPASS Pathways (NASDAQ:CMPS), Cybin Inc. (NEO:CYBN)(NYSE:CYBN), Field Trip Health Ltd. (TSX:FTRP)(NASDAQ:FTRP), and Mind Medicine Inc. (NASDAQ:MNMD)(NEO:MMED).