Mental health crisis could cost the world $16 trillion by 2030
(EBC; October 10,2018) - Mental illness is on the rise, especially among the world’s young — with devastating consequences, a new report released today at reveals
Mental health disorders are on the rise in every country in the world and could cost the global economy up to $16 trillion between 2010 and 2030 if a collective failure to respond is not addressed, according to an expert report on Tuesday.
The “Lancet Commission” report by 28 global specialists in psychiatry, public health and neuroscience, as well as mental health patients and advocacy groups, said the growing crisis could cause lasting harm to people, communities and economies worldwide.
While some of the costs will be the direct costs of healthcare and medicines or other therapies, most are indirect - in the form of loss of productivity, and spending on social welfare, education and law and order, the report’s co-lead author Vikram Patel said.
The wide-ranging report did not give the breakdown of the potential $16 trillion economic impact it estimated by 2030.
The World Health Organization (WHO) estimates that around 300 million people worldwide have depression and 50 million have dementia. Schizophrenia is estimated to affect 23 million people, and bipolar disorder around 60 million.
The Lancet report found that in many countries, people with common mental disorders such as depression, anxiety and schizophrenia routinely suffer gross human rights violations – including shackling, torture and imprisonment.
The report was published ahead of a first global ministerial mental health summit in London this week.