Behavioral Health Market Size To Gain USD 267 Billion Revenue By 2030 Growing At 2.5% CAGR – According To A Report By Acumen Research And Consulting

The global behavioral health market size is estimated to attain a value of USD 267 Billion by 2030 growing with a CAGR of 2.5% for the forecast period 2022 to 2030, as reported by Acumen Research and Consulting.

Behavioral Health Market Report Statistics

• Global behavioral health market size was USD 215 Billion in 2021 and expected to grow at CAGR of 2.5% from 2022 to 2030
• North America behavioral health market occupied over 55% market share in coming years
• According to the Our World in Data, there were 792 million people with a mental health disorder in 2017
• Asia-Pacific behavioral health market will grow at fastest CAGR over the projected timeframe from 2022 to 2030
• Among disorder segment, anxiety occupied significant share in 2021
• As per the National Institute of Mental Health (NIMH), social anxiety disorder (SAD) affects 15 million American adults

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Behavioral Health Market Report Coverage

The global demand for health facilities is increasing as a result of the rising prevalence of mental health disorders and increased demand for behavioral health treatments. Increased awareness and social acceptance of behavioral health issues will provide favorable market opportunities for conducting health suppliers. Clinical advances in treatment and treatment have resulted in new and improved psychological and detoxification treatments. Online consulting and daycare are driving the growth of the behavioral health industry. Other factors that are expected to boost behavioral healthcare market growth include the development of new treatments and programmes, as well as favorable supply and demand.

However, there are some factors that could stymie global demand for behavioral health services, such as limited access to mental health providers, a lack of well-educated mental health providers, a lack of awareness of treatment options among the general population, and limited primary care facilities.

Behavioral Health Market Dynamics

The increasing prevalence of mental illnesses and growing preference for behavioral health treatment is driving up global demand for behavioral health services. Behavioral health service providers are expected to benefit from increased awareness and public acceptance of behavioral health issues. Clinical advances in therapy and medication management have resulted in new and improved procedures for psychological and detoxification treatments.

Key players are involved in the development of new behavioral health facilities and the expansion of services. Major healthcare companies are implementing strategies such as acquisitions and collaborations to establish a presence in untapped markets and acquire equipment. Many policies in developing countries, particularly those in Asia-Pacific economies, are likely to provide opportunities for competitive development in order to improve the strategy for dealing with behavioral health issues.

Promises Behavioral Health, a new domestic behavioral health platform, was announced in March 2019. It would operate in a 12-state programme, including programmes for vetera, and would provide a variety of treatment options for sexual addiction, drug abuse, dietary disorders, traumas, and other mental health disorders in seven countries.

With several large organizations and service suppliers, the worldwide behavioral health industry is extremely fragmented. Although there are organized main players in this market, the bulk of the market is served by small-scale regional operators and professionals. In efforts to extend the reach of consumers, leading firms are also acquiring hospitals and comparable care facilities.

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Behavioral Health Market Insights

Core services offering a wide range of behavioral health facilities and novel delivery models, such as home-based and telepsychiatric services, are devoted to global health market competitiveness. Mergers, acquisitions, and partnership agreements are some of the other major strategies used by leading players to grow their businesses. Universal Health Services, Inc., for example, concluded a SoutheastHEALTH partnership in February 2019 to provide high-quality behavioral health services. This collaboration enabled the company to strengthen its market position.

Despite the fact that behavioral health services are desperately needed, patient adherence remains low. As the prevalence of behavioral problems rises, so will access to therapy and advice. This has shifted the focus of the competition to the development or acquisition of care centers for collaborations and joint ventures.

People dealing with health issues are still plagued by skyrocketing healthcare costs. Leading service providers continue to charge exorbitant fees for behavioral healthcare. However, as people's and patients' preferences for accessible care grow, behavioral market players seek to compete with low-cost suppliers in order to reach a larger consumer base. The adoption of a cooperative health model encompassing primary care facilities is likely to result in favorable economic returns and reimbursements.

Behavioral Health Market Segmentation

The global behavioral health market is divided into three categories: disorder, service, and regions. The disorder segment is sub-segmented into alcohol use disorders, anxiety, bipolar disorder, depression, eating disorders, post-traumatic stress disorder, schizophrenia, substance abuse disorders, and others. According to our behavioral health industry analysis, anxiety acquired a considerable amount of share in 2021. The increasing cases of anxiety disorders especially in developed countries such as the US, Canada, UK, and others are primarily driving the behavioral health market growth.

Based on service, the market is categorized into emergency mental health services, outpatient counseling, home-based treatment services, inpatient hospital treatment services, and others. As per our behavioral health market forecast, emergency mental health services accumulated a noteworthy market share owing to the presence of immediate treatment facilities and the presence of expert mental health professionals. On the other hand, the adoption of home-based treatment services is one of the popular behavioral health market trends that is strengthening the industry share in the coming years. The release of several mental health apps on open platforms would support the home-based treatment services sector from 2022 to 2030.

Behavioral Health Market Regional Outlook

North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa are the regional categorizations of the behavioral health market industry.

Currently, the behavioral health industry is dominated by North America and is expected to do so in the coming years owing to the presence of a huge base of anxiety disorder patients. According to the Anxiety & Depression Association of America, anxiety is the most common mental illness in the United States, affecting more than 40 million adults.

The European region accounted for the second-largest global behavioral health market share. During the forecast period, the regional market is expected to grow at a moderate CAGR. The prevalence of behavioral health illnesses such as depression and anxiety is increasing in the European behavioral health industry. Furthermore, the region's development of the behavioral health industry is likely to increase the number of substance abuse and alcohol abuse disorders.

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Behavioral Health Market Players

Key players operating in the market are Acadia Healthcare, Ascension Seton, Behavioral Health Network, Inc., CareTech Holdings PLC, North Range Behavioral Health, Promises Behavioral Health, Pyramid Healthcare, Strategic Behavioral Health, The MENTOR Network, and Universal Health Services, Inc.

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