Europe Emerges Global Leader in Behavioral Health Treatment Market with Share Tantamount to 47% by 2027: Fact MR Survey
170 Pages Market Research Survey by Fact MR, A Market Research and Competitive Intelligence Provider, Offers Incisive Coverage on Global Behavioral Health Treatment Market Growth
The Fact MR survey on behavioral health treatment market offers detailed analysis on the key growth drivers and trends affecting demand in the market. The survey also provides insights into the competitive landscape of global behavioral health treatment market, identifying the key market players and analyzing the impact of their growth strategies.
Fact.MR: Fact MR’s latest report on global behavioral health treatment market projects robust growth outlook over the forecast period of 2021 and 2031. Demand for behavioral health treatment is set to rise owing to the rising prevalence of depression.
Depression is considered to be a serious mental illness and is increasingly becoming prevalent across the world. According to the National Alliance of Mental Illness, the U.S. spends around US$ 193.2 billion in serious mental illnesses.
According to Centre for Addiction and Mental Health, Canada spends more than US$42.4 billion every year on mental health problems. This is bolstering demand for advanced behavioral treatment. The need to curb the prevalence of mental illnesses and improve efficiency of treatment available are encouraging the demand for behavioral health software in large hospitals and community clinics.
High healthcare cost for treating depression, post-traumatic stress, anxiety, and other behavioral health-related problems remains a key concern for governments across the globe. As depression is a common mental disorder, the demand to treat and consult keep rising every day.
Overcoming financial constraints pose a serious challenge for numerous healthcare organizations in emerging economies. While leading market players are adopting telemedicine to offer improved care, it also creates risk for data theft. Players in the market are therefore considering implementation of various safety measures.
“Key players are signing merger agreement such as Talkspace and Hudson Executive Investment Corp. entered into an agreement to develop a combined company named Talk to focus on behavioral health. In the coming years an increasing number of market players are likely to enter into strategic collaborations to gain competitive edge,” said a Fact MR analyst.
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Key Takeaways from Behavioral Health Treatment Market Research Report:
- Home based treatment will surpass outpatient counselling with a CAGR of 3% as it provides patient with comfort, reduced wait time, significant cost benefits, and enhanced services.
- Asia Pacific is expected to witness hindrance in growth as this region face social taboos and conventional beliefs regarding seeking consultation for mental health.
- Europe Behavioral Health Treatment Market witnessed an exceptional revenue rise at 21% in 2019. The increasing cases of alcohol and substance abuse among individuals are hard pressing governments in Europe to adopt preventive measures. Their efforts are likely to bode well for the market.
- Behavioral health software support services are expected to account for largest share as support services are recurring requirement for software maintenance and upgrades.
- Rising rate of depression, anxiety, and other post-traumatic stress disorders are increasing demand for counselling and treatment of the same. This is creating opportunities for players in the behavioral health treatment market.
- Growing awareness due to social media and government initiatives is aiding people in seeking medical help openly, thus boosting demand for behavioral health treatment market.
- Behavioral healthcare software solutions are relatively high-priced, hence healthcare organizations will face challenges to overcome financial constraints.
- Recurring maintenance and software update of these solutions cost more than actual price of the software sometimes, making it a key restrain for market growth.
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Key players in the global behavioral health treatment market are focusing on expanding their consumer base by collaborating and partnerships. Product innovations will keep players ahead in the competition therefore, they are investing in research and development.
For instance, in 2017, Centers for Medicare & Medicaid Services (CMS) introduced behavioral health integration, psychiatric collaborative care model.
Medicare delivers reimbursement for tele-mental health services and covers consultation charges and clinic visits. It also introduced diagnostic codes to reimburse tele-mental health care services in 39 states of America.
In 2017, Qualifacts Systems launched a software solution for mobile behavioral health. This software aims to deliver complete functional mobile applications for behavioral healthcare staffs.
Key players operating in the global behavioral health treatment are
- Promises Behavioural Health
- Pyramid Healthcare
- Acadia Healthcare
- Ascension Seton
- CareTech Holdings PLC
- STRATEGIC BEHAVIOURAL HEALTH
- The MENTOR Network
- North Range Behavioural Health
- Universal Health Services Inc.
- Behavioural Health Network Inc.
More Insights on the Behavioral Health Treatment Market:
Fact MR provides an unbiased analysis of the behavioral treatment market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global behavioral health treatment market with a detailed segmentation on the basis of:
- Bipolar Disorder
- Alcohol Use Disorders
- Substance Use Disorders
- Eating Disorders
- Post-traumatic Stress Disorders
- Inpatient Hospital Treatment Services
- Outpatient Counselling
- Emergency Mental Health Services
- Home-based Treatment Services
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Key Questions Covered in the Behavioral Health Treatment Market Report
- The report offers detailed insights into behavioral health treatment demand outlook for 2021-2031.
- The market study also highlights projected sales growth for behavioral health treatment market between 2021 and 2031.
- Behavioral health treatment market survey identifies key growth drivers, restrains, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancement within the industry.
- Behavioral health treatment market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnership and others.
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