The U.S. Psychiatry Clinic market size was valued at US$ 23.7 billion in 2021 and is expected to hit US$ 34.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.7% from 2022 to 2030.
The U.S. Psychiatry Clinic market size was valued at US$ 23.7 billion in 2021 and is expected to hit US$ 34.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.7% from 2022 to 2030.
Growth Factors:
Growing prevalence of mental health disorders in the U.S., favourable insurance coverage, and rising demand for mental health services are likely to boost the market growth during the forecast period. Numerous people throughout the United States are feeling greater anxiety as a result of the COVID-19 outbreak. According to a National Mental Health Crisis survey conducted by The Harris Poll on behalf of the APA, nearly 78% agreed that the coronavirus pandemic is a significant source of stress in their lives, while 60% said the number of issues confronting America is overwhelming. According to American Medical Association April 2021 research, 13.6 % of Americans demonstrated indicators of serious psychological distress, up from 3.9 % in 2018. Medicare has a decent coverage for mental health treatment resulting in better affordability & accessibility to psychiatric services.
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The social stigma towards mental health treatment in the U.S. is limiting the market adoption. Even people belonging to the educated higher class have the stigma about social take on taking mental health treatment and hence avoid treatment. The cost of psychiatric treatment is high and beyond affordable for many with Medicare coverage as well commercial insurance. Private insurance provides 10-15% less reimbursement for psychiatrists compared to Medicare insurance resulting in them avoiding such patients. The uninsured population faces the biggest challenge to afford the treatment and with the rise in the uninsured population since the start of COVID-19 pandemic, the situation is worse. The increasing prevalence of mental health disorders in the U.S. is positively impacting the market. Around 51 million adults in the U.S. have mental issues as per the National Institute of Mental Health. The demand for mental health services in the U.S. is rising rapidly. This can be attributed to the growing prevalence of mental disorders in the U.S. & improving health reimbursement policies.
Report Scope of the U.S. Psychiatry Clinic Market
| Report Coverage | Details |
| Market Size in 2021 | USD 23.7 Billion |
| Revenue Projection By 2030 | USD 34.9 Billion |
| Growth Rate | CAGR of 4.7% from 2022 to 2030 |
| Base Year | 2021 |
| Historical data | 2017 - 2020 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Age group |
| Companies Mentioned | Universal Health Services; Langley Porter Psychiatric Hospital (LPPH); Bellevue Hospital; Manhattan Psychiatric Center; Menninger Clinic, Tucker Psychiatric Clinic; Acadia Healthcare; UCSF Health; Peninsula Behavioural Health; Mayo Clinic. |
As per CDC a total of 56.8 million physician office visits in the U.S. were for mental & neurodevelopmental disorders. As per the National Institute of Mental Health (NIMH), in 2019, among the 51.5 million adults with AMI in the U.S., around 23.0 million (44.8%) received mental health services in the past year.
The advancement in technology and digitalization in the area of psychiatric care in recent years & during the pandemic will play a significant role. Telepsychiatry is trending with app-based psychiatric care & online therapy sessions. The accessibility to treatment is improving because of telepsychiatry. The psychiatry care in the U.S. will have great scope ahead with high disease prevalence, better accessibility to the treatment & the government making mental health a priority.
Age Group Insights
The adult segment held the largest share in 2021. This can be attributed to the growing disease prevalence among adults in the U.S. One in every four adults in the U.S. is having mental health problems as per mental health statistics by John Hopkins Medicine. Moreover, adult psychiatric services are available in most psychiatry clinics. Langley Porter Psychiatric Hospital, Mayo Clinic, Bellevue Hospital & Manhattan Psychiatric Center are some of the top psychiatry clinics known for adult services.
The pediatric segment is expected to grow at a lucrative pace during the forecast period owing to the rising mental health problems and substance abuse among teenagers. Every one in six adolescents has mental health issues as per the National Council of Mental Wellbeing. Moreover improving accessibility to better pediatric facilities and increasing awareness programs for child mental health are boosting the segment growth.
The majority of mental health disorders in adults have their roots or start in adolescent age. Thus, an increasing number of substance abusers among teenagers is anticipated to increase the demand for psychiatry care among pediatrics. Many psychiatric facilities such as McLean Hospital have taken initiatives to have special services for adolescents and to spread awareness on pediatric mental health. This is propelling the segment growth.
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Some of the prominent players in the U.S. Psychiatry Clinic market include:
- Universal Health Services
- Langley Porter Psychiatric Hospital (LPPH)
- Bellevue Hospital
- Manhattan Psychiatric Center
- Menninger Clinic
- Tucker Psychiatric Clinic
- Acadia Healthcare
- UCSF Health
- Peninsula behavioral health
- Mayo Clinic
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at U.S. for the period of 2017 to 2030
- By Age-Group
- Adult
- Pediatrics
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Key Questions Answered in U.S. Psychiatry Clinic Market Report
- What will be the sales/revenue generated by U.S. Psychiatry Clinic across all regions during the forecast period?
- What are the opportunities in the U.S. Psychiatry Clinic market?
- What are the major drivers, restraints, opportunities, and threats in the market?
- Which regional market is set to expand at the fastest CAGR during the forecast period?
- Which application is expected to generate the highest revenue U.S. in 2030?
- Which segment is projected to expand at the highest CAGR during the forecast period?
- What is the market position of different companies operating in the U.S. market?
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