Pune, India, Oct. 25, 2023 (GLOBE NEWSWIRE) -- The US Behavioral Health Market size was valued at USD 79.99 billion in 2022 The market is anticipated to expand USD 115.21 billion by 2030 exhibiting a CAGR of 4.7% during estimated period. Rise in Market Share Due to Growing Prevalence of Mental Disorders, Key Players Strike Partnership Deals to Strengthen Industry Foothold.
Behavioral health issues are the key reasons for disability and distress among the U.S. population. Services covering behavioral health are centered on daily actions, behavior, and habits that could affect a patient’s mental health. The growing demand for the treatment of various disorders such as depression, anxiety, eating disorders, and substance use disorders is set to drive market expansion over the coming years.
Fortune Business Insights™ provides this information in its research report, titled “U.S. Behavioral Health Market, 2023-2030”.
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Key Industry Development:
November 2021 – Behavioral Health Group (BHG) announced the takeover of Meridian Behavioral Health’s all four Valhalla Place opioid treatment program locations. The move formed part of the company’s plans to expand into Minnesota.
Key Takeaways :
- Availability of Digital Care Services Boosted the Market Growth during the Pandemic
- Transition toward Advanced Digital Tools due to their Increasing Advantages and Applications
- Increasing Prevalence of Mental Disorders to Aid the Market Growth
- Improved Access to Healthcare to Foster the Market Growth
- Lack of Mental Health Professionals and High Cost of Treatment to Hinder Market Growth
List of Key Players Mentioned in the Report:
- Universal Health Services, Inc. (U.S.)
- BHG Holdings, LLC. (U.S.)
- Acadia Healthcare (U.S.)
- American Addiction Centers (U.S.)
- CuraLinc Healthcare (U.S.)
- BEHAVIORAL HEALTH SYSTEMS, INC. (U.S.)
- North Range Behavioral Health (U.S.)
- Uprise Health (U.S.)
COVID-19 Impact:
Surge in Market Share Driven by Availability of Digital Care Services
The COVID-19 pandemic led to an upsurge in the demand for behavioral therapies driven by the growing prevalence of stress, anxiety, and depression among the U.S. population. The period registered an increase in the deployment of virtual care services by therapists. This was due to the decline in in-person visits in light of lockdown restrictions. The adoption of digital services helped augment the U.S. behavioral health market share during the pandemic period.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/u-s-behavioral-health-market-105298
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2021 to 2028 CAGR | 4.7% |
| 2030 Value Projection | USD 115.21 Billion |
| Base Year | 2022 |
| US Behavioral Health Market Size in 2022 | USD 79.99 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 84 |
| Segments covered | By Type, By Payor |
Drivers and Restraints:
Rise in Market Share Due to Growing Prevalence of Mental Disorders
One of the pivotal factors driving the U.S. behavioral health market growth is the soaring prevalence of mental disorders in the country owing to cases of poor nutrition, substance abuse, and trauma. Some of these illnesses comprise PTSD (post-traumatic stress disorder), depression, and anxiety. This has resulted in a rising number of people ailing from functional impairment including prioritizing tasks and managing assignments.
However, the low availability of trained health professionals and the high demand for treatment may restrain industry growth in the country to a certain extent.
Segmentation:
Behavioral & Mental Health Segment Dominates the Market, Driven by Growing Prevalence of Mental Illness
On the basis of type, the market is subdivided into substance abuse, behavioral & mental health, trauma/PTSD, eating disorders, and others. The behavioral & mental health segment accounts for a dominating share in the market. This is due to the growing cases of anxiety disorders and depression among the U.S. population.
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Public Health Insurance Segment Led the Market Owing to Substantial Insurance Uptake
By payor, the market is categorized into private health insurance, out-of-pocket, and public health insurance. The public health insurance segment held a major position in the market in 2022. This is on account of the soaring behavioral therapy demand and a subsequent rise in insurance uptake under Medicaid and Medicare.
Report Coverage:
The report gives an in-depth coverage of the key steps undertaken by leading market players for providing superior services. Besides, it presents an account of the major trends in the market and discusses the impact of COVID-19 pandemic on industry growth. These insights have been provided after extensive research and data collation from credible sources.
Competitive Landscape:
Key Players Strike Partnership Deals to Strengthen Industry Foothold
Major market participants are centered on adopting various strategies for strengthening their industry positions. These include merger agreements, acquisitions, partnerships, and collaborations. These steps are being undertaken for enhancing product portfolios and the reach of their services.
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Table of Contents :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Regulatory & Reimbursement Scenario – U.S.
- Statistics related to Mental Health, Opioid Addiction, etc., U.S., 2022
- Adoption of Telehealth Technology to Benefit Behavioral Health
- Key Industry Developments (Mergers, Acquisitions and Partnerships)
- Impact of COVID-19 on Behavioral Health Market
- U.S. Behavioral Health Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Type
- Behavioral & Mental Health
- Substance Abuse
- Eating Disorders
- Trauma/PTSD
- Others
- Market Analysis, Insights and Forecast – By Payor
- Public Health Insurance
- Private Health Insurance
- Out-of-Pocket
- Market Analysis, Insights and Forecast – By Type
- Competitive Analysis
-
- U.S. Market Share Analysis (2022)
- Company Profiles (Overview, Services, SWOT analysis, Recent Developments, Strategies, Financials (Based on Availability))
- Universal Health Services, Inc.
- BHG Holdings, LLC.
- Acadia Healthcare
- American Addiction Centers
- CuraLinc Healthcare
- BEHAVIORAL HEALTH SYSTEMS, INC.
- North Range Behavioral health
- Uprise Health
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FAQs :
How big is the US Behavioral Health Market?
- The U.S. behavioral health market size was valued at USD 79.99 billion in 2022. The market is anticipated to expand from USD 83.70 billion in 2023 to USD 115.21 billion by 2030, exhibiting a CAGR of 4.7% during the estimated period.
What are the key factors driving the US Behavioral Health Market?
- The increasing prevalence of behavioral disorders, coupled with the growing reimbursement policies, is the key factor driving the market.
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