Pune, India, Feb. 23, 2022 (GLOBE NEWSWIRE) -- The US Behavioral Health Market size is projected to grow from USD 77.62 billion in 2021 to USD 99.40 billion in 2028. The market stood at USD 68.79 billion in 2020. It is set to exhibit a CAGR of 3.6% in the forecast period between 2021-2028.
Competitive Analysis:
Prominent organizations operating in this industry are striving persistently to deliver state-of-the-art treatment options for various disorders. Universal Health Services is one of the leading companies in the market. It possesses a large number of facilities across the U.S. Some of the other companies are focusing on mergers and acquisitions to strengthen their positions. Below is one of the industry developments:
- December 2020: IBH Population Health Solutions acquired HMC Health Works to broaden its robust capabilities in EAP and Opioid & Pain Management and Managed Behavioral Health segments. It would help the company to provide digitally sophisticated, whole person focused and comprehensive products and services.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 3.6% |
| 2028 Value Projection | USD 99.40 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 77.62 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 71 |
| Segments covered | Behavioral & Mental Health, Substance Abuse, Eating Disorders, Trauma/PTSD |
| Growth Drivers | According to the Substance Abuse and Mental Health Services Administration (SAMHSA), one in four Americans has a mental or substance use disorder. |
| A shift in cultural change and increasing cost-efficient scientific technologies together is anticipated to provide better access to physical and mental healthcare services for every individual around the country. | |
| The rising population of drug users in the country is mainly attributable to the strong segmental growth leading to high demand for services pertaining to substance abuse. |
In February 2021, Adventist Health Vallejo, a psychiatric hospital based in the U.S. signed an agreement with Acadia Healthcare. It will enable the former to sell its behavioral health services to the latter. Acadia will be able to strengthen the former’s capabilities to deliver premium substance use and behavioral health services.
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Market Growth Drivers:
- The accessibility of savvy logical advances and moving social changes are relied upon to bring about the higher access of conduct medical care administrations in the U.S. Additionally, organizations are contributing colossal totals to expand their administrations remembered for protection inclusions.
- It would assist a few group with seeking the necessary treatment. The COVID-19 pandemic has brought about the flooding reception of computerized answers for treatment administrations. Brightside, a well-known application utilized for treating discouragement and stress exhibited a flood of half in new clients during the early pandemic stage.
- Running against the norm, deficiency of information and absence of R&D exercises in regards to these problems might hamper the US Behavioral Health Market development soon.
Market Segments:
Based on the type, the U.S. behavioral health industry is segmented into behavioral & mental health, substance abuse, eating disorders, trauma/PTSD, and others. Amongst these, the behavioral & mental health segment procured 49.0% in terms of the US Behavioral Health Market share in 2020.
It is set to retain its dominant position in the upcoming years on account of the surging cases of mental illness. The National Alliance on Mental Illness (NAMI) declared that every year, more than 43 million Americans suffer from mental illnesses.
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Key Players Covered in this Report:
- Universal Health Services (King of Prussia, PA)
- Behavioural Health Group Inc.(Dallas, Texas)
- Acadia Healthcare (Franklin, Tennessee)
- American Addiction Centers (Tennessee, U.S)
- IBH (Irvine, CA)
- CuraLinc Healthcare (Chicago, Illinois)
- Behavioural Health Systems (Birmingham, Alabama)
- North Range Behavioural Health (Greeley, Colorado)
- Other Prominent Players
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