Behavioral Health Market Update 2023 : Projected to Attain USD 66.6 Billion Revenue from 2022 to 2031, Claims AMR

What is Behavioral Health ?

Behavioral health refers to an individual’s comprehensive emotional and mental well-being, encompassing both mental health and substance use disorders. It serves to assist individuals by fostering innovative strategies for prevention, early intervention, treatment, and recovery for those grappling with mental health issues and substance abuse. The aim is to cultivate healthier lives, reinforce families, and establish more secure communities.

Behavioral Health Market Overview

The behavioral health market was valued at $41.7 billion in 2021, and is estimated to reach $66.6 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031.

• CAGR: 4.7%
• Current Market Size: USD 41.7 Billion
• Fastest Growing Region: APAC
• Largest Market: North America
• Projection Time: 2022-2031
• Base Year: 2021

 

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝒐𝒇 𝑪𝒐𝒑𝒚 𝒐𝒇 𝑹𝒆𝒑𝒐𝒓𝒕-

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Covid19 Impact on Behavioral Health Market 

Various factors influenced the behavioral health market during the pandemic, and some of the notable impacts were as follows:

1. Increased Demand for Mental Health Services: The pandemic led to increased levels of stress, anxiety, and depression, which in turn resulted in a surge in demand for mental health services. People experienced heightened levels of fear, uncertainty, and isolation, leading to a greater need for counseling, therapy, and other mental health support services.
2. Telehealth and Digital Health Solutions: With the need for social distancing and lockdowns, there was a rapid adoption of telehealth and digital health solutions in the behavioral health sector. This shift facilitated the provision of remote counseling and therapy sessions, ensuring continuity of care for patients while minimizing the risk of virus transmission.
3. Challenges in Access to Care: Despite the increased demand for services, many individuals faced challenges in accessing behavioral health care. This was particularly prevalent in regions with limited healthcare infrastructure and resources. Disparities in access to mental health services were highlighted during the pandemic, emphasizing the need for more inclusive and accessible care models.
4. Workplace Mental Health Initiatives: Employers recognized the importance of supporting the mental health and well-being of their employees during the pandemic. Many companies implemented mental health programs, offered counseling services, and promoted employee well-being through various initiatives to mitigate the negative impact of the crisis on the workforce.
5. Investments in Research and Development: The unprecedented mental health challenges triggered by the pandemic spurred increased investments in research and development within the behavioral health sector. Efforts were made to develop innovative treatment solutions, digital therapeutics, and technologies aimed at addressing the growing mental health concerns.

 

𝑷𝒓𝒐𝒄𝒖𝒓𝒆 𝑪𝒐𝒎𝒑𝒍𝒆𝒕𝒆 𝑹𝒆𝒑𝒐𝒓𝒕 (369+ 𝑷𝒂𝒈𝒆𝒔 𝑷𝑫𝑭 𝒘𝒊𝒕𝒉 𝑰𝒏𝒔𝒊𝒈𝒉𝒕𝒔, 𝑪𝒉𝒂𝒓𝒕𝒔, 𝑻𝒂𝒃𝒍𝒆𝒔, 𝒂𝒏𝒅 𝑭𝒊𝒈𝒖𝒓𝒆𝒔) @  https://www.alliedmarketresearch.com/behavioral-health-market/purchase-options

 

Behavioral Health Market Regional Insights

In 2021, North America held the largest revenue share, a dominance expected to persist from 2022 to 2031. This is attributed to factors such as a sizable patient population, the robust presence of key industry players, accessible service provision, well-established healthcare infrastructure, favorable reimbursement policies, and a significant focus on research and development. On the other hand, Asia-Pacific is projected to experience the highest compound annual growth rate (CAGR) during the same period. This is primarily due to emerging behavioral health trends, including an increasing affected population and a growing awareness of various behavioral health disorders.

𝐕𝐀𝐋𝐔𝐄 𝐏𝐑𝐎𝐏𝐎𝐒𝐈𝐓𝐈𝐎𝐍𝐒 𝐑𝐄𝐋𝐀𝐓𝐄𝐃 𝐓𝐎 𝐓𝐇𝐄 𝐑𝐄𝐏𝐎𝐑𝐓:

• Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
• Comprehensive quantitative and qualitative insights at segment and sub-segment level
• Covid 19 impact trends and perspective
• Granular insights at global/regional/country level
• Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
• Blanket coverage on competitive landscape
• Winning imperatives
• Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market.

 

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KEY FINDINGS OF STUDY

• By disorder, the substance abuse disorders segment accounted for major share of the global behavioral health market size in 2021.
• By service, the emergency mental health services segment is anticipated to grow with the highest CAGR during the forecast period.
• By age group, adult segment occupied major share of the global behavioral health market in 2021 and is expected to remain dominant during the forecast period.
• Asia-Pacific is anticipated to grow at the highest rate during the behavioral health market forecast period.

Major Behavioral Health Market Players –

• Acadia Healthcare
• Ascension
• Behavioral Health Network, Inc.
• Behavioral Health Services Inc.
• Bright Harbor Healthcare
• Caretech Holdings PLC
• Centene Corporation
• Civitas Solutions Inc.
• Core Solutions Inc.
• Elevance Health
• North Spring Behavioral Healthcare
• Oracle Corporation
• Promises Behavioral Health
• Pyramid Healthcare, Inc.
• Strategic Behavioral Health LLC
• Universal Health Services, Inc.
• Welligent Inc.

 

𝑶𝒕𝒉𝒆𝒓 𝑻𝒓𝒆𝒏𝒅𝒊𝒏𝒈 𝑹𝒆𝒑𝒐𝒓𝒕𝒔 𝒊𝒏 𝑳𝒊𝒇𝒆 𝑺𝒄𝒊𝒆𝒏𝒄𝒆 𝑫𝒐𝒎𝒂𝒊𝒏-

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