New York, April 05, 2023 (GLOBE NEWSWIRE) -- In 2022, the global behavioral health market demonstrated a total valuation of USD 140.1 billion and It is anticipated that the market will exceed USD 227.5 billion by the year 2032, indicating a CAGR of 5.1% during the period from 2023 to 2032. Behavioral health refers to life stressors and crises, mental health and substance use disorders, and stress-related physical symptoms. Behavioral health care is described as diagnosing, preventing, and treating these conditions. It includes the services provided by psychiatrists, neurologists, social workers, counselors, and physicians.
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Key Takeaway:
- By disorder, the depression & anxiety disorders segment held the largest market share in 2022.
- By service, the outpatient counseling services segment dominated the global market in 2022 and is projected to grow more during the forecast period from 2023 to 2032.
- In 2022, North America dominated the market with the highest revenue share of 49.0%.
- Europe is expected to grow at the highest CAGR from 2023-2032.
Behavioral health services are used in the treatment of a wide range of disorders and psychological conditions that include substance use disorders, excessive consumption of alcohol and attention-deficit/hyperactivity disorder (ADHD), as well as eating disorders. Some recognized causes of behavioral health disorders include early adverse life experiences, such as a history of abuse, trauma, and old experiences associated with chronic medical conditions, such as diabetes, cancer, use of alcohol or drugs, biological factors or chemical imbalance in the brain, and the having feelings of loneliness.
Factors affecting the growth of the Behavioral Health Market
There are several factors that can affect the growth of the behavioral health market. Some of these factors include:
- Rising prevalence of mental health disorders: The increase in mental health disorders such as depression & anxiety is increasing suicides worldwide. As a result, there is a rising demand for behavioral health therapy, increasing the market growth.
- Increasing government initiatives: Governments of several countries focus on improving the healthcare infrastructure by increasing funding, which is further expected to boost market growth.
- Clinical advancement: The clinical advancements associated with therapy and medication management has created better and new procedures for psychological treatments, which is anticipated to surge the market growth.
- Technological advancement: The market expansion for behavioral therapy is mainly influenced by technological advancements and online mental healthcare applications, which are highly preferred to treat and understand a patient's behavior.
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Top Trends in Global Behavioral Health Market
With increased funding for healthcare, the governments of different nations aim to improve the quality of care provided to the public. In addition, as there is a rise in the advancement of technology and AI-based technologies are preferred to treat and understand patient behavior, the market is projected to expand in the coming years. Additionally, the software is expected to be more dominant in emerging markets, and telehealth is likely to become a prevalent healthcare service delivery method. Together, these factors are anticipated to propel the market growth of the behavioral health market.
Market Growth
The market expansion of behavioral health is projected to expand significantly over the forecast period due to an increasing number of substance abuse, the rising prevalence of destructive behavior, and the growing demand for behavioral health services. Moreover, the advancements in therapies for behavioral health are likely to fuel market growth. However, the high cost associated with these therapies is expected to impede market growth.
Regional Analysis
North America dominated the global market for behavioral health in 2022 with the largest revenue share. This significant market growth can be attributed to the increasingly competitive workspaces, fast-paced lifestyle, and expensive living, increasing individual stress levels. According to the Commonwealth Fund, around 25% of adults in the United States suffer from depression or anxiety. In addition, the United States has not only high suicide rates but also high drug-related death. Additionally, the increasing demand for behavioral health due to the rising prevalence of anxiety and depression is anticipated to contribute highly to the market growth of this region.
The behavioral health market in Europe is expected to register considerable growth over the forecast period. This is because the countries such as the United Kingdom, Germany, Sweden, and France have a higher rate of individuals suffering from mental health disorders. Hence, a higher number of individuals seek treatment and conversations with health professionals. Moreover, the Europe market is subjected to grow more owing to the higher rate of mental health disorders, increasing the demand for behavioral health treatment. Additionally, the government in this region is undertaking initiatives and steps to improve the mental health of individuals.
Competitive Landscape
The major market players are primarily focused on implementing various growth strategies, thereby supporting the market growth of the behavioral health market. In addition, they are involved in portfolio expansion strategies through increasing investments, mergers & acquisitions, partnerships, collaborations, and advancement in diagnostic procedures as well as therapies and devices.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 140.1 Billion |
| Market Size (2032) | USD 227.5 Billion |
| CAGR (from 2023 to 2032) | 5.1% |
| North America Revenue Share | 49.0% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The increase in the prevalence of lifestyle disorders such as obesity and diabetes in aged individuals and the most significant factor propelling the market growth rate is the rising healthcare expenditure that aids in improving the healthcare infrastructure. In addition, some major and essential factors are expected to have a positive outcome, including an increase in the government initiatives for promoting EHR adoption in behavioral health organizations, rising prevalence of good behavioral health reforms, increasing adoption of behavioral health software, easy access to government funding, and growing demand for the mental health services because of increase in several individuals suffering from the mental disorders, as well as, social acceptance of the mental health issues. Additionally, several government organizations are focused on improving the healthcare infrastructure by increasing funding, which is further expected to increase market growth.
Market Restraints
There is an increasing demand for a therapist with a specialty in specific fields and the best quality of training for treating different disorders. This will likely impact the market growth of behavioral health as it is difficult to find such professionals. In addition, an increasing number of individuals with depression are withdrawing from treatment due to the high cost of behavioral health treatments in the market. The sessions that are charged per hour for the treatment of depression are also expensive. Even though there has been a tremendous change in healthcare services associated with the behavioral patterns of people currently, there has been a limitation of data and research for a reliable diagnosis. As a result, market growth is expected to be hampered due to such factors.
Market Opportunities
Daycare services and online counseling programs fuel the expansion of the global behavioral health market. In addition, clinical advancements related to therapy and medication management have generated better and new procedures for psychological treatments. Furthermore, favorable supply and demand, development of new treatments and programs, and increasing the mental health budget are other factors estimated to surge the growth of the global behavioral health market.
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Report Segmentation of the Behavioral Health Market
Disorder Insight
The depression & anxiety disorders segment dominated the global behavioral health market and is anticipated to grow more during the forecast period. This is primarily due to the relationship and work pressure, socio-economic pressure, and academic pressure that leads to the conditions such as depression & anxiety. Thus, the individuals seek help from mental health professionals to treat depression & anxiety disorders. Moreover, the increase in living costs also results in the anxiety individuals face. Additionally, substance abuse disorders are projected to be among the most opportunistic segments over the forecast period. This can be attributed to the rising prevalence of drug abuse among younger individuals in developing and developed nations.
Service Insight
The outpatient counseling services segment accounted for the largest revenue share of the global market in 2022. Outpatient counseling has increased its popularity as it serves the different needs of patients and does not necessitate patients to stay at hospitals or clinics. Thus it is one of the most favored services as it is customized according to the requirements of the patients. As a result, the outpatient counseling segment is anticipated to witness a significant growth rate in market share by adding maximum revenue share of the global behavioral health market during the forecast period.
Market Segmentation
By Disorder
- Depression & Anxiety
- Bipolar Disorders
- Substance Abuse Disorders
- Alcohol Use Disorders
- Eating Disorders
- Post-traumatic Stress Disorder (PTSD)
- Other Disorders
By Service
- Outpatient Counselling Services
- Inpatient Hospital Treatment Services
- Emergency Mental Health Services
- Home-based Treatment Services
- Other Services
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
- Key Market Players
- Acadia Healthcare Corporation
- National MENTOR Holdings, Inc.
- Behavioural Health Network Inc.
- Universal Health Services, Inc.
- Magellan Health, Inc.
- Bright Harbor Healthcare
- Centene Corporation
- Caretech Holdings, Plc
- Pyramid Healthcare, Inc.
- Other Key Players
Recent Development of the Behavioral Health Market
- In October 2022, Spring Health, a mental health solution provider in the global market, partnered with Moda Health. Moda's innovative Behavioral Health 360 platform is projected to deliver measure-based behavioral health care to the nominated employer groups through its platform. Additionally, Spring Health increases its product offering by entering the payer and health plan market.
- In September 2022, Accanto Health launched the “Gather Behavioral Health” program, its first virtual and outpatient mental health treatment program. The program provided mental health care for those suffering from anxiety, depression, trauma, and PTSD. This program is launched in Wisconsin and Minnesota. A virtual outpatient visit is also an option, in addition to in-person visits.
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