Behavioral Health Market Recent Developments Study Analysis

Global Behavioral Health Market Outlook 2031

The global behavioral health market was valued at US$ 205.08 Bn in 2021
The global market is projected to grow at a CAGR of 2.6% from 2022 to 2031
The global behavioral health market is anticipated to reach more than US$ 262 Bn by the end of 2031

Get Sample Copy of the Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=45018

Overview of Global Behavioral Health Market

Behavioral health refers to a person's overall well-being and ability to respond to situations in life. Behavioral health issues affect an individual's mental and physical well-being. The behavioral health market includes disorders such as depression, anxiety, schizophrenia, bipolar disorder, alcohol use disorders, substance use disorders, eating disorders, and post-traumatic stress disorder (PSTD). Increase in investment in behavioral health and expansion of behavioral health facilities have helped service providers enhance health care delivery.

Rise in Number of People with Mental Illnesses Propelling Global Behavioral Health Market

Behavioral health services comprise mental health, alcohol & substance abuse, depression, anxiety, post-traumatic stress disorder, schizophrenia, and eating disorder services. Rise in number of adults, children, and elderly people with serious mental illness has increased the need for behavioral health treatment. Additionally, the stigma of mental illness is decreasing, enabling patients to seek treatment for mental health issues. Youngsters and adults are more open to expressing issues and thoughts to the therapist, which helps them overcome stress and depression. Rise in mental health issues due to stress, peer pressure, and social & economic hardship is another major factor likely to boost the demand for mental health therapeutics and behavioral health services. Demand for mental disorder drugs is rising in developing countries. According to the WHO, anxiety and depression have a significant economic impact. Harassment and bullying at work are other key issues that adversely affect mental health.

Get Report Methodology @ https://www.transparencymarketresearch.com/sample/sample.php?flag=RRM&rep_id=45018

Increase in Telepsychiatry Practices to Boost Global Behavioral Health Market

Telepsychiatry is a field of telemedicine that applies modern technologies to the delivery of health care services for mental illnesses. It facilitates immediate response to patient needs, thereby minimizing emergency admissions. This type of modern technology and telecommunication is one of the key contributors to the increase in interaction between psychiatrists and patients. Several mental health service providers offer telepsychiatry in various health care settings such as outpatient clinics, emergency departments, and military bases. Growth in awareness about the advantages of telepsychiatry such as control and immediate patient care among mental health service providers is anticipated to drive the adoption of telepsychiatry, especially in developed countries. Mental health software is increasingly used by medical professionals to understand mental patterns of patients in order to offer them accurate treatment.

Surging Demand for Behavioral Health Services due to Rise in Depression Rates across Globe

In terms of disorder type, the global behavioral health market has been classified into depression, anxiety, schizophrenia, bipolar disorder, alcohol use disorders, eating disorders, and post-traumatic stress disorders. The depression segment accounted for large share of the global market in 2021. The segment is expected to expand at a high CAGR from 2022 to 2031. Rise in number of depression cases due to negative thoughts, socioeconomic pressure, and serious illness is propelling the global market.

Low-cost Outpatient Counselling Services to Drive Global Behavioral Health Market

Based on service type, the global behavioral health market has been divided into inpatient hospital treatment services, outpatient counseling, emergency mental health services, and home-based treatment services. The outpatient counseling segment held major share of the global market in terms of revenue in 2021. This trend is likely to continue during the forecast period. Advantages of outpatient counseling over inpatient treatment such as low cost, high level of privacy, and flexible schedule as per treatment are likely to fuel the segment.

Read Report Overview @ https://www.transparencymarketresearch.com/behavioral-health-market.html

Regional Outlook of Global Behavioral Health Market

Europe dominated the global behavioral health market in 2020. The market in the region is primarily driven by the rise in prevalence of behavioral health disorders such as depression and anxiety. Increase in number of substance abuse and alcohol abuse disorder cases is also projected to drive the behavioral health market in the region. Additionally, presence of key players and developments such as acquisitions, partnerships, and the launch of new facilities are projected to propel the behavioral health market in Europe.

The market in North America is anticipated to grow at a moderate pace during the forecast period. Strategic developments such as launch of new facilities and acquisitions are expected to augment the behavioral health market in the region. Asia Pacific accounted for key share of the global behavioral health market in 2021. The market in the region is driven by the increase in the number of alcohol abuse and substance use disorder cases.

Analysis of Key Players in Global Behavioral Health Market

The global behavioral health market is consolidated, with a large number of small players accounting for major share. Key players operating in the global behavioral health market include Acadia Healthcare, Ascension Seton, Behavioral Health Network, Inc., CareTech Holdings plc, North Range Behavioral Health, Promises Behavioral Health, Pyramid Healthcare, Inc., Sevita, and Universal Health Services, Inc. Leading market players have adopted growth strategies such as new product development, product launches, product approval, agreement, partnerships, and mergers & acquisitions.

Get Custom Research Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=45018

Key Developments in Global Behavioral Health Market

In January 2019, Acadia Healthcare acquired Whittier Pavilion, an inpatient psychiatric facility with 71 beds. In February 2019, the company acquired Mission Treatment, which operates compressive treatment centers in Nevada, Arizona, Oklahoma, and California.

In January 2022, Universal Health Services, Inc. launched Valley Health at home by BAYADA, a joint venture partnership that will expand integrated care delivery network capabilities into patient homes

In October 2021, Sevita announced the acquisition of various supportive living and day center services
Each of these players has been profiled in the behavioral health market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.

Enquiry before Buying @ https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=45018

About Us

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Contact

Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com

This release was published on openPR.