Mental health scenario of Australia worsening amid COVID-19 pandemic

Image Source: © Terovesalainen | Megapixl.com

Highlights

  • Several countries around the globe observe May as the month of Mental Health Awareness
  • Globally, the COVID-19 pandemic has led to a 25% surge in cases of depression and anxiety
  • Australia reports one out of four people faces mental ill-health every year
  • The Australian government has increased its investment toward mental health by nearly 106% from 2012-13

Mental health is a very critical part of overall health. However, each year a growing number of people are facing mental health symptoms. This gives rise to the need to come together to advocate for enhancing the overall mental health care system. To contribute to achieving the goal, the month of May is observed as the Mental Health Awareness Month across the USA and some European countries.

Has COVID-19 pandemic fuelled mental health problems?

Image source: © 2022 Kalkine Media®

According to a report released by the World Health Organisation (WHO), anxiety and depression rose 25% globally in the first year of the COVID-19 pandemic. Though most countries have started implementing mental health support in COVID-19 health plans, there are still many related concerns and voids.

Data estimates reveal that women and young people were the worst affected by mental health problems. It specially included people with pre-existing physical health conditions.

The pandemic also caused severe disruptions to mental health services. This led to huge gaps in care for those who needed it the most.

Image source: © 2022 Kalkine Media®

Scenario of mental health in Australia

In Australia, one out of four people faces mental ill-health every year. Similarly, one out of two Australians will suffer from mental ill-health in their lifetime. Mental illness further can cause a greater risk of suicide, which has become a prime reason for death for people aged 15–44.

The Australian government has committed an investment of AU$86.2 million towards mental health over a period of five years (2021–22 to 2025–26) under its ‘National Mental Health and Suicide Prevention Plan - Stage 2’.

Do read: Australian teens and their mental health – Know your child better!

The Australian government has increased its investment in mental health by nearly 106% since 2012-13. Over the years, the government has made important developments in boosting digital mental health, suicide prevention supports, child mental health and other support programs.

Related read: What is govt doing to keep Australians’ mental health in good shape?

ASX-listed firms offering mental health services

There are different private and public organisations in Australia providing mental health support and care to people in different ways. On that note, let us have a look at three companies from the Australian Securities Exchange (ASX) that serve as mental health service providers:

Cogstate Ltd. (ASX:CGS)

Cogstate is a neuroscience company optimising brain health assessments. It provides rapid, reliable, and highly sensitive computerised cognitive tests across many domains. Some of the therapeutic expertise of the company include Alzheimer’s Disease and Dementia, Multiple Sclerosis, Parkinson’s disease, and Schizophrenia.

Total Brain Limited (ASX:TTB)

Total Brain is a self-monitoring and self-care platform for mental health and brain performance. The company’s Total Brain app enables individuals to self-monitor brain capacities and screen for mental health risks. It helps enhance mental health and brain performance with scientifically proven self-care exercises.

Limeade Inc. (ASX:LME)

Limeade has 16 years of experience pioneering employee health and well-being in the workplace. Limeade has three solutions:

  • Limeade Well-Being – driving participation and addressing essential benefits needed by employees
  • Limeade EX - enhance well-being, engagement, inclusion, burnout and turnover.
  • TINYpulse by Limeade - increase employee engagement by making it easy to encourage and collect feedback.

Also read: CGS, TTB & MEB: How these ASX mental health stocks fared in first half

 

Mental Health Disclaimer: The content in this article is not intended to be a substitute for professional advice, diagnosis, or treatment. Always seek the advice of your mental health professional or other qualified health provider with any questions you may have regarding your condition. In an emergency, call 000. Help is available 24 hours a day, 7 days a week, anywhere in Australia. If you need help now, call: 

Find a list of services that can help you right now at Head to Health. 

 


 


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and