The global behavioral health market size is projected to surpass around US$ 270 billion by the end of 2030 from estimated USD 205.18 billion in 2021. The global behavioral health market is anticipated to expand at a impressive CAGR of 6.02% during forecast period 2022 to 2030.
Behavioral health refers to a person’s overall well-being and ability to respond to situations in life. Behavioral health issues affect an individual’s mental and physical well-being. The behavioral health market includes disorders such as depression, anxiety, schizophrenia, bipolar disorder, alcohol use disorders, substance use disorders, eating disorders, and post-traumatic stress disorder (PSTD). Increase in investment in behavioral health and expansion of behavioral health facilities have helped service providers enhance health care delivery.
The demand within the global behavioural health market is poised to increase in the times to follow. Behavioural health has emerged as an important area of study across neo-health. Several healthcare experts point to the importance of behavioural studies in individuals of all age groups. In the contemporary times, mental health has become an important area of study for medical researchers. A wide population of masses suffers from mental disorders, and this factor has emerged as an important dynamic of market growth. The healthcare industry has gathered the reins of growth and advancement in the domain of mental health. Therefore, the total volume of revenues in the global behavioural health market is projected to multiply.
The global behavioral health market. 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.
|Market Size||USD 270 billion by 2030|
|Growth Rate||CAGR of 6.02% From 2022 to 2030|
|Forecast Period||2021 to 2030|
|Historic Data||2017 to 2021|
|Report coverage||Growth Factors, Revenue Status, Competitive Landscape, and Future Trends|
|Segments Covered||Service, Disorder, End-Users and Region
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||Merck Animal Health; Ceva Santé Animale; Zoetis; Boehringer Ingelheim GmbH; Elanco; IDEXX Laboratories, Inc.; Heska Corporation; Virbac; Vetoquinol S.A.; Indian Immunologicals Ltd.|
Telepsychiatry is a field of telemedicine that applies modern technologies to the delivery of health care services for mental illnesses. It facilitates immediate response to patient needs, thereby minimizing emergency admissions. This type of modern technology and telecommunication is one of the key contributors to the increase in interaction between psychiatrists and patients. Several mental health service providers offer telepsychiatry in various health care settings such as outpatient clinics, emergency departments, and military bases. Growth in awareness about the advantages of telepsychiatry such as control and immediate patient care among mental health service providers is anticipated to drive the adoption of telepsychiatry, especially in developed countries. Mental health software is increasingly used by medical professionals to understand mental patterns of patients in order to offer them accurate treatment.
Service Type analysis;
This research study segments the global market based on various parameters such as service type, disorder type, and end-user. Depending on service type, this market is classified into Inpatient hospital treatment, intensive care management, home-based treatment services, outpatient counselling, and emergency mental health services. The home-based treatment services segment is estimated to grow at the highest CAGR within the forecast period. The growth is mainly associated with public awareness and various government programs run across the city to opt for the treatment.
Disorder Type analysis;
In terms of the disorders, the behavioural health market is classified into anxiety disorder, bipolar disorder, depression, eating disorder, post-traumatic stress disorder, substance abuse disorder, and others. Anxiety-related disorders dominate the behavioural disorders market and will remain the same within the forecasted year followed by depression. Anxiety is a kind of behavioural disorder characterized by excessive down emotions with nervousness, fear, and worry. A recent study has shown there is a huge spike in Anxiety patients in the last decades. These patients also shown the symptoms of panic attacks, OCD(obsessed thoughts), and post-traumatic disorders.
Depending on end-users the global behavioural health market is categorized into outpatient clinics, rehabilitation centers, hospitals (emergency), and homecare settings. The outpatient clinics is predicted to occupy the largest market share in the year 2020 and will uphold this trend within the forecast year. Rapid technological advancement and the penetration of the internet are considered the mark key for both self as well as for creating awareness across the world.
Europe dominated the global behavioral health market in 2021. The market in the region is primarily driven by the rise in prevalence of behavioral health disorders such as depression and anxiety. Increase in number of substance abuse and alcohol abuse disorder cases is also projected to drive the behavioral health market in the region. Additionally, presence of key players and developments such as acquisitions, partnerships, and the launch of new facilities are projected to propel the behavioral health market in Europe.
The market in North America is anticipated to grow at a moderate pace during the forecast period. Strategic developments such as launch of new facilities and acquisitions are expected to augment the behavioral health market in the region. Asia Pacific accounted for key share of the global behavioral health market in 2021. The market in the region is driven by the increase in the number of alcohol abuse and substance use disorder cases.
Some of the prominent players in the Behavioral Health Market include: Universal Health Services, Inc., Magellan Health Inc., National Mentor Holdings Inc., Behavioral Health Network Inc., North Range Behavioral Health, Behavioral Health Services Inc.,Acadia Healthcare Co., Seton Healthcare Family and Beacon Health Strategies
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 global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
By Service Type
By Disorder Type
Middle East & Africa (MEA)
Highlights of the Report:
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Behavioral Health market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Behavioral Health market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Behavioral Health markets more accurate and reliable.
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Behavioral Health Market Study: