While parts of the world are pushing a message that we should now learn to live with COVID-19, the lasting damage the pandemic has left on areas such as mental health should not be ignored as restrictions are removed, says GlobalData. The leading data and analytics company highlights that the pandemic has not only lowered life expectancies and hurt the long-term health of many former COVID-19 patients, but it has also impacted the mental health and wellbeing of many people.

James Spencer, Data Scientist at GlobalData, comments: “Prior to the COVID-19 pandemic, the CDC stated that one in five adults in the US suffered from a mental illness. According to GlobalData, depression related treatments have risen by 27% from 2020 to 2022, due in part to COVID.”

A study conducted in the 1990s* found that depression can reduce a person’s life expectancy by up to 12 years. Every year, major economies such as the US spend $87.5 billion on healthcare for mental disorders, and it is estimated that depression and related mental health conditions result in another $44 billion in lost work productivity**.

GlobalData’s Company Filing Analytics database found that the number of companies discussing ‘Mental Health’ in company filings during the pandemic increased from 688 in Q1 2020 to 1521 in Q1 2021. Furthermore, mentions of ‘Mental Health’ in company filings increased from 2179 in Q1 2020 to 5287 in Q1 2021.

Spencer continues: “Depression caused by the pandemic may affect the ‘COVID-19 cohort’ for the rest of their lives, but funds from the US government will help to support them. The Department of Health and Human Services’ Substance Abuse and Mental Health Services Administration and Office of Minority Health plan will be spending $35 million to support mental health and suicide prevention for US citizens.”

*Depression and mortality in a longitudinal study: 1952–2011, Stephen Gilman et al. DOI: https://doi.org/10.1503/cmaj.170125

**Work productivity loss from depression: evidence from an employer survey, Kathryn M Rost et al. https://doi.org/10.1186/s12913-014-0597-y