Behavioral Health Market

Behavioral Health Market Research, 2031

The global behavioral health market was valued at $41.7 billion in 2021, and is projected to reach $66.6 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031. Behavioral health is defined as the connection between behavior and the health and well-being of the body, mind and spirit. This is projected to include how behavior like eating habits, drinking or exercising impact physical or mental health. It mainly refers to the mental health, psychiatric, marriage & family counseling and addiction treatment. It includes services provided by social workers, counselors, psychiatrists, neurologists and physicians. Some of the known causes of behavioral health disorders include early adverse life experiences, such as trauma and a history of abuse, old experiences related to chronic medical conditions, such as cancer or diabetes, biological factors or chemical imbalance in the brain, use of alcohol or drugs, having feelings of loneliness or isolation. Behavioral health services can be used to treat a wide range of psychological conditions and disorders that include alcohol and substance use disorders, attention-deficit/hyperactivity disorder (ADHD), and eating disorders.

The COVID-19 pandemic had a low positive impact on the behavioral health industry owing to the decline seen in the visits of the patients the behavioral health service centers in the initial phase of the pandemic. Although the increased prevalence of the behavioral health illnesses had triggered the demand for the behavioral health service centers. Moreover, the utilization of tele-behavioral health services and other digital solutions also helped in boosting the demand for the behavioral health services.

The global behavioral health market size is anticipated to exhibit significant growth during the forecast period, owing to increase in prevalence of destructive behavior, increase in number of substance abuse and increase in the demand for behavioral health services.

Furthermore, the penetration of digital technologies such as telehealth, development of new treatments for behavioral health and increased funding to treat behavioral health issues are considerably contributing toward the growth of behavioral health market size. However, availability of alternative health therapies for behavioral disorders and high cost of service associated with the behavioral healthcare are negatively impacting the market behavioral health market share. Conversely, the introduction of telehealth for behavioral health care offers lucrative behavioral health market opportunity.

What is the Impact of COVID-19 Pandemic on Behavioral Health Market Share?

The COVID-19 pandemic affected the behavioral health industry in a fairly positive way, like various other mental health industries were affected. However, in the initial days of the pandemic, the behavioral health center were hit by the pandemic norms and the patients those were taking the treatment or the patients who were going to join the service centers were actually avoiding the centers visits due to the fear of infection.

In the later situation of the pandemic, the demand for behavioral health service was seen to be increased owing to the social and economic impacts on the mental health. There have been worrying signs of widespread suicidal thoughts and behavior among the population including health care workers. Furthermore, the increased prevalence of the behavioral health issues which were at the rise also helped to boost the growth of the behavioral health industry. The behavioral telehealth like telepsychiatry offered a range of services including online counseling and psychiatric evaluation and diagnosis. In this therapy, the provider also prescribed and addressed medication management.

Behavioral Health Market Segmentation

The behavioral health market is segmented into Disorder, Service and Age Group. By disorder, the market is classified into alcohol use disorders, substance abuse disorders, eating disorders, ADHD and others. By service, the market is categorized into emergency mental health services, outpatient counselling, home-based treatment services, inpatient hospital treatment services and other services. Furthermore, the emergency mental health services is sub-classified as male and female. The outpatient counselling is sub-classified as male and female. The home-based treatment is sub-classified as male and female. The inpatient hospital treatment services is sub-classified as male and female. The other services is sub-classified as male and female. By age group, the market is classified into pediatric, adult and geriatric. Region wise, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA).

Market By Disorder Segment Review

By disorder, the market is segmented into alcohol use disorders, substance abuse disorders, eating disorders, ADHD and others. The substance abuse disorders segment is anticipated to grow with the largest share throughout the forecast period. This is attributed to increase in the prevalence of substance abuse and also the rise in the incidences of substance abuse during the COVID-19 pandemic. On the other side, the demand for eating disorders is projected to exhibit the fastest market growth during the forecast period due to its affectivity, and expected increase in the prevalence of eating disorders.

Market By Service Segment Review

By service, the market is segmented into emergency mental health services, outpatient counselling, home-based treatment services, inpatient hospital treatment services and other services. The inpatient hospital treatment services segment was the major revenue contributor in 2021, and is anticipated to continue this trend during the forecast period, due to increase in number of inpatient behavioral health service providers and increase in the demand for treatment services. On the other side, the emergency mental health services segment is projected to exhibit the fastest behavioral health market growth during the forecast period, owing to increase in geriatric population, and rise in number of emergency mental health service centers.

Market By Age Group Segment Review

By age group, the market is segmented into pediatric, adult and geriatric. The adult segment was the major revenue contributor in 2021, and is anticipated to continue this trend during the forecast period, due to increase in adult population affected by the mental disorders and increase in the awareness regarding the treatment services among the population. Moreover, the adult segment is projected to exhibit the fastest market growth during the forecast period, owing to increase in prevalence of the behavioral illness that increases the demand for behavioral health services for adults.

Market By Region Review

North America accounted for the largest share of revenue in 2021, and is anticipated to maintain its dominance during behavioral health market forecast years, owing to presence of large patient population, strong presence of key players, ease of service availability, well developed healthcare infrastructure, favorable reimbursement policies in healthcare system, higher number of research, development. However, Asia-Pacific is expected to grow at the highest CAGR, owing to increase in number of affected population and rise in awareness related to different disorders related to behavioral health.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the behavioral health market analysis from 2021 to 2031 to identify the prevailing behavioral health market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the behavioral health market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global behavioral health market trends, key players, market segments, application areas, and market growth strategies.

 Behavioral Health Market Report Highlights