As a consequence of the increasing incidence of mental health disorders and increased demand for behavioral health treatments the global demand for health facilities is increasing.
The global behavioural health market is expected to witness growth at a CAGR of 2.5 % over the forecast period and to reach valuation around US$ 245 billion by 2027.
As a consequence of the increasing incidence of mental health disorders and increased demand for behavioral health treatments the global demand for health facilities is increasing. Increased awareness and social acceptance of comportemental health problems will provide conduct health suppliers with favorable market opportunities. Clinical advances in treatment and treatment have produced both psychological and detoxification treatments with fresh and enhanced processes. The development of the behavioral health industry is driven by online consulting and day care. The development of fresh treatments and programmes, favorable supply and demand are some other variables that are anticipated to increase behavioral healthcare market growth.
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However there are some things which could hinder a worldwide demand for behavioral health services that have restricted access to mental health providers, absence of a well educated mental health provider, lack of knowledge of treatment options amongst the general population, and restricted primary care facilities.
In recent years, there has been a considerable rise in the number of cases of mental health disorders. This is one of the biggest reasons behind the development of the global behavioral health market. The reason for this massive growth is actually twofold. One of the biggest reasons is of the taboo that was previously holding back the development of mental health space is now receding at a great pace. There are several influencers on the social media as well as hugely popular celebrities who have come out in open and have been talking about their mental health problems. This has helped in creating general awareness about the importance of taking medical and professional help when it comes to mental health problems. Only recently, several notable Bollywood actors, including leading ones such as Deepika Padukone, have come out and spoke about their struggle with mental health issues. Such open awareness and receding taboo about the treatment is thus helping to drive the growth of the global behavioral health market.
Scope of the Report
|
Report Coverage |
Details |
|
Revenue Forecast by 2030 |
USD 245 billion |
|
CAGR |
2.5% from 2021 to 2027 |
|
Base Year |
2021 |
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Forecast Period |
2022 to 2030 |
Changing Lifestyles to Create Demand for Solid Behavioral Health Treatment Model
The second part of the recent development of the global market is the constant changes in lifestyles that are causing increasing number of people to experience severe mental trauma or disorders. With changes in work and professional life to personal ones, there is a severe lack of bonding among people to rely upon. This may lead to a chronic behavioral mental condition. Such developments are thus promoting the uptake of the behavioral health market.
Naturally, with the factors mentioned above, the global behavioral health market is expected to exhibit a CAGR of 2.6% for the given forecast period of 2020 to 2027. In 2018, the market stood at a valuation of US$196 bn. By the end of 2019, the projected market value is around US$200 bn. The market is thus, expected to be on course to achieve a stellar valuation during this period of forecast.
Asia Pacific to Show Promising Growth Rate
In terms of regional segmentation, the global behavioral health market is divided into five key regions viz. Latin America, Middle East and Africa, North America, Asia Pacific, and Europe. Of these regions, the global behavioral health market is expected to be dominated by the region of North America. Increasing awareness about mental health and a robust healthcare infrastructure are driving the growth of the regional market. On the other hand, Asia Pacific region is expected to show a promising growth in the next few years of the forecast period. Government initiatives to spread awareness and creating strong treatment models are expected to give impetus to the development of the behavioral health market in the region.
Key Players & Strategies
Key players operating in the market are Acadia Healthcare, The MENTOR Network, Universal Health Services, Inc., Behavioral Health Network, Inc., CareTech Holdings PLC, Strategic Behavioral Health, Ascension Seton, North Range Behavioral Health, Pyramid Healthcare, and Promises Behavioral Health.
Market Segmentation
Behavioral Health Market by Disorder
- Depression
- Anxiety
- Schizophrenia
- Bipolar Disorder
- Alcohol Use Disorders
- Substance Abuse Disorders
- Eating Disorders
- Post-traumatic Stress Disorder (PSTD)
- Others
Behavioral Health Market by Service
- Inpatient Hospital Treatment Services
- Outpatient Counselling
- Emergency Mental Health Services
- Home-based Treatment Services
- Others
Behavioral Health Market by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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