According to Acumen Research and Consulting, the global behavioral health market is forecasted to grow at striking CAGR around 2.5 % over the forecast time frame and reach around US$ 240 billion by 2026.
Behavioural health involves non-pharmacological therapies for circumstances like mental health, drug abuse disorder, etc. Due to mental illnesses, such as personality disorders or depression, drug abuse disorders, or other addictive behaviours, a significant selection of people fight their life. Behavioural health facilities provide assistance, medical therapy or support to a behavioral necessity suspected or confirmed. The incorporation of conduct into health is an efficient approach to enhance the results of millions of people globally suffering from behavioral or mental health circumstances.
The report provides analysis of global Behavioral Health market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
Diagnoses of behavior in the previous decade have extended with more young people dealing with mental health disorders and problems like drug abuse. The burden of rapidly developing life styles and the growing incidence of mental health problems continue to increase the burden and extent of conductual concerns. According to the WHO, every year there are approximately 800,000 suicidal fatalities. Such situations raise alarming public health issues and thus drive the development of the behavioral health industry.
Some of the increase in behavioral health diagnoses can be caused by the increased access to mental health services in developed countries in particular. These actions take an hour to deliver better mental health care and to further advance the prosperous behavioral health industry. ARC unravels the essential elements of the sector and highlights carefully signs that highlight important events in the market in its lately submitted research on the behavioral health market.
The problems of mental health and drug abuse have become a crucial issue for society. Although behavioral health has become stronger today, acceptance has acquired prominence in the twentieth century. The origin of the motion for mental health resulted to the creation of the National Mental Hygiene Commission in 1909. Since 1919, the internationalization of this Commission's work led to the creation of several domestic mental hygiene organizations. Studies have shown that from 1999 to 2014 the suicide rates increased steadily and from 2005 the incidence of major depression increased.
After around 50 years of mental health and a century of mental hygiene movements, certain developments could be viewed along the evolutionary route. Mental health social stigma seemed to boost social control attempts. Behavioral health problems are not imaginative, and in 2019 the industry is likely to produce an income of approximately US $200 Bn. Increasing behavioral health problems combined with increasing measures to address them are projected to offer behavioral health players chances of development.
Impact of Undercurrents on Market
The extended scope of telepsychiatry models and the upward development course stay robust. As telemedicine continues to provide fresh access possibilities in healthcare, the most beneficial effect has been behavioral health. Telepsychiatry plays an important role in improving outlook on critical professional psychiatric shortages and in harmonizing demand for value-added care and change in customer requirements.
Outcome monitoring is a way to better tackle the increasing issues of these illnesses by behavioural health practitioners and suppliers. Outcome monitoring measures such as sobriety, service delivery, physical health, continued care and quality of life could be used throughout the sector to help therapy centres validate their performance and thus be an important market influencer.
Deep analytical dives can reveal clinical possibilities for improvements in quality and information would be essential to the seamless upcoming transition to lower cost ambulatory care and value-for-money payment modeling. The use of digital platforms and telehealth involves technology-driven care, which helps health care teams expand to cover scarce regions for consumer confidence.
Although behavioral health should be shown to be rapidly changed, despite increasing needs in semi-urban and rural regions, the amount of therapy facilities, rehabilitation centers and the presence of medical suppliers is restricted to urban regions. Limited access to healthcare could hinder the development of the industry. In addition, given that people are unwilling to talk about behavioral health problems publicly, it means that they need adequate advice.
The worldwide behavioral health market was dominated by Europe in 2018. The regional market is planned to grow during the forecast period at a mild CAGR. In the European behavioral health industry, the incidence of behavioral health illnesses such as depression and anxiety is driving mainly increasing. In addition, the development of the behavioral health industry in the region is probable to boost the increased numbers of substance abuse and alcoholic abuse disorders. In addition, the presence in Europe is anticipated to increase the development of the healthcare industry by important players and trends including acquisitions, alliances and start-ups of new installations. Universal Health Services, for example, purchased The Danshell Group in July 2018. The business thus expanded the U.K. network service. In December 2016 the company's Cambian Group, the U.K.-based PLC Adult Service division, purchased 79 hospital-based 2 outpatient health services facilities. In 2018, Asia Pacific was an important part of the worldwide market for behavioral health. The region's market is expected to grow from 2019 to 2026 in a elevated CAGR. The Asia Pacific market is driven by the increasing number of cases of alcohol abuse and drug use. The WHO says that 3 million fatalities were reported in Asia Pacific in 2016 as a result of the abuse of alcohol.
In the 2018 worldwide behavioral health industry, North America retained a major share. During the forecast period, the regional market is forecast to develop at a moderate CAGR. The region's behavioral health markets are probably driven by strategic innovations, such as launching of fresh institutions and acquisitions. In February 2019 Acadia Healthcare purchased Mission Treatment in Nevada, Arizona, Oklahama and California for example, which runs a wide variety of treatment centres. In addition, an increase of health centres providing behavioral health services, a growth of health centers, such as hospitals in other U.S. areas, and an increase in incidence of psychological diseases such as depression are probable to boost the market during the era of forecasting.
Global Behavioral Health Market, By Disorder
Global Behavioral Health Market, By Service
Global Behavioral Health Market, By Geography
The market research study on “Behavioral Health Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Behavioral Health market segments with market dynamics and their impact. The report also covers basic technology development policies.
It offers an assessment of the recent industry trends for each sub-segment between 2015 and 2026, and anticipates income development at worldwide, regional and nation levels. For this research, ARC segmented the worldwide Behavioral Health market report on the grounds various segments.
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.
Core services providing a broad variety of behavioral health facilities and fresh model delivery, such as home-based and telepsychiatric services, are devoted to competitiveness on the global health market. Other main approaches taken by leading players to grow their company are mergers, acquisitions and partnership agreements. In February 2019, for example, Universal Health Services, Inc. concluded a SoutheastHEALTH partnership to provide high quality behavioral health services. This partnership allowed the firm to consolidate its market position.
Behavioural health involves non-pharmacological therapies for circumstances like mental health, drug abuse disorder, etc.
According to Acumen Research and Consulting, the behavioral health market value is anticipated to be worth around US$ 240 billion in 2026.
The behavioral health market is anticipated to grow over 2.5% CAGR during the forecast period 2019 to 2026.
Europe held maximum share in 2018 for behavioral health market.
Asia Pacific is projected to grow at a fast pace during forecast period in the behavioral health market.
Acadia Healthcare, The MENTOR Network, Universal Health Services, Inc., Behavioral Health Network, Inc., and CareTech Holdings PLC are the top players operating in the behavioral health market.
The behavioral health market is segmented into North America, Europe, Asia Pacific, Latin America and The Middle East & Africa (LAMEA).