Behavioral Health Market to Reach US$ 243 Bn by 2027

Transparency Market Research has published a new report on the global behavioral health market. According to the report, the global behavioral health market was valued at ~ US$ 196 Bn in 2018, and is projected to expand at a CAGR of 2.4% from 2019 to 2027.

Behavioral health, also known as mental health, is a study of behaviors, biologics, and emotions of a person. Behavioral health relates to services for mental wellness, including alcohol and substance abuse.

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The depression segment accounted for a prominent share of the global behavioral health market in 2018. The segment is anticipated to gain market share during the forecast period, and is expected to expand at a moderate CAGR from 2019 to 2027. Rise in the number of depression cases due to negative thoughts, socioeconomic pressure, and serious illnesses is likely to boost the growth of the segment.

In terms of service, the outpatient counselling segment held a substantial share of the global behavioral health market in 2018, and is projected to gain market share during the forecast period. Advantages over inpatient treatment such as less expensive, patient can adjust schedule as per treatment, and high level of privacy are anticipated to drive the segment.

According to the WHO, from 2014 to 2016, the availability of outpatient facilities was 30 times more in high income countries than low income countries across the globe. The home-based treatment services segment held a significant share of the global behavioral health market in 2018, and is expected to grow at a rapid pace during the forecast period. Surge in the number of patients suffering from mental disorders with other physical disabilities is likely fuel the growth of the segment.

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Global Behavioral Health Market: Prominent Regions

Europe held a prominent share of the global behavioral health market in 2018. The market in the region is projected to expand at a moderate CAGR during the forecast period. The behavioral health market in Europe is primarily driven by the rise in the prevalence of behavioral health disorders such as depression and anxiety.

Moreover, increase in the number of substance abuse and alcohol abuse disorder cases is likely fuel the growth of the behavioral health market in the region. Additionally, the presence of key players, and developments such as acquisitions, partnerships, and launching of new facilities are factors projected to boost the growth of the behavioral health market in Europe.

For instance, in July 2018, Universal Health Services acquired The Danshell Group. This enabled the company to expand network service in the U.K. In December 2016, Universal Health Services, Inc. acquired 79 inpatient 2 outpatient behavioral health facilities of Cambian Group, PLC’s adult service division located in the U.K.

Asia Pacific accounted for a significant share of the global behavioral health market in 2018. The market in the region is anticipated to expand at a high CAGR from 2019 to 2027. The market in Asia Pacific is driven by the increase in the number of alcohol abuse and substance use disorders cases. According to the WHO, in Asia Pacific, 3 million deaths occurred due to alcohol abuse in 2016.

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North America held a significant share of the global behavioral health market in 2018. The market in the region is expected to grow at a moderate CAGR during the forecast period. Strategic developments such as launches of new facilities and acquisitions are likely to drive the behavioral health market in the region.

For instance, in February 2019, Acadia Healthcare acquired Mission Treatment, which operates comprehensive treatment centers in Nevada, Arizona, Oklahoma, and California. Moreover, increase in the number of healthcare facilities offering behavioral health services, expansion by healthcare centers such as hospitals in other regions in the U.S., and rise in the prevalence of mental illnesses such as depression are likely to propel the market during the forecast period.

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This release was published on openPR.