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Behavioral Rehabilitation Market Size, Share, Trends Outlook And Global Forecast 2024 To 2033
Behavioral Rehabilitation Market
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According to The Business Research Company's, The behavioral rehabilitation market size has grown strongly in recent years. It will grow from $234.92 billion in 2023 to $250.94 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to advances in psychological research, increased awareness, legislative support, stigma reduction, insurance coverage.
The behavioral rehabilitation market size is expected to see strong growth in the next few years. It will grow to $316.1 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to rise in mental health disorders, personalized treatment approaches, telehealth expansion, government funding initiatives, mental health advocacy. Major trends in the forecast period include early intervention programs, technological advancements, virtual reality therapy, remote monitoring and support, mindfulness and wellness practices.
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Market Drivers and Trends:
The growing prevalence of behavioral disorders is expected to propel the growth of the behavioral rehabilitation market going forward. Behavioral disorders refer to a range of conditions that involve persistent patterns of problematic behaviors and emotions that significantly impact an individual's daily functioning and quality of life. Behavioral rehabilitation programs offer comprehensive approaches that focus on modifying behaviors, improving coping skills, and promoting overall well-being, making them crucial in managing and addressing the impact of these disorders on individuals and society. For instance, in October 2021, according to a research article published in the Lancet, a UK-based peer-reviewed journal, the prevalence of depression, a mental health disorder characterized by persistent changes in behavior, was 27.8% in 2020 and increased to 32.8% in 2021. Therefore, the increasing prevalence of behavioral disorders drives the behavioral rehabilitation market forward.
Technological advancements are a key trend gaining popularity in the behavioral rehabilitation market. Major companies operating in the behavioral rehabilitation market are introducing technologically advanced therapy options for treating various behavioral disorders. For instance, in June 2023, Akili Interactive, a US-based prescription digital medicine company, launched EndeavorOTC, a novel video game-based digital therapeutic device. This innovative product is specifically designed for adults aged 18 and older who experience primarily inattentive or combined-type attention deficit hyperactivity disorder (ADHD) and does not require a prescription. EndeavorOTC leverages Akili Interactive's proprietary Selective Stimulus Management Engine (SSME) core technology, enabling it to deliver effective digital treatments for ADHD symptoms.
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Major Key Players of the Market:
LeggUP Inc., Novartis AG, Universal Health Services Inc., Magellan Health Inc., Perrigo Company Plc, Acadia Healthcare Company Inc., Behavioral Health Group Inc., Baxter Regional Medical Center, Hazelden Betty Ford Foundation, Aurora Behavioral Health System, People Care Holdings Inc, American Addiction Centers Inc., Strides Arcolab Ltd., Caron Treatment Centers, Parkview Health & Rehab Center, BHG Holdings LLC., Sierra Tucson Inc., Behavioral Framework, The Camp Recovery Center, Forge Health Group, CuraLinc Healthcare Co, Limbix Inc., Zynerba Pharmaceuticals Inc., The Recovery Village, ViaMar Health, Haven Behavioral Healthcare Inc., Niznik Behavioral Health Resources Inc., Promises Behavioral Health Inc., PsychSolutions Inc., CRC Health Group
Behavioral Rehabilitation Market 2024 Key Insights:
• The behavioral rehabilitation market size is expected to see strong growth in the next few years. It will grow to $316.1 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
• Growing Prevalence Of Behavioral Disorders Fuels Expansion Of Behavioral Rehabilitation Market
• Technological Advancements In The Behavioral Rehabilitation Market
• North America was the largest region in the behavioral rehabilitation market in 2023
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