Behavioral Health Market Growth, Revenue Share Analysis, Company Profiles, and Forecast To 2031
Posted by sneha j on November 3rd, 2022
Behavioral health is a term that is used for an individual’s overall emotional and mental wellness. This term encompasses both mental health and substance use disorders. It helps people and guides innovative approaches to prevention, early intervention, treatment and recovery for those who are dealing with mental health and substance use disorders to help build healthier life, stronger families and safer communities. The common behavioral disorders include substance abuse, gambling addiction, self-injury, eating disorders and others. These illnesses are common, recurrent, and often serious, but they are treatable. Various treatments are available for most behavioral health conditions and individuals can fully recover from this. The service providers focus on addressing the needs of the person and the interplay of behavioral health and physical health conditions. They are increasing the usage of electronic health records and other technologies to support prevention, treatment, and recovery activities.
𝗚𝗲𝘁 𝗗𝗲𝘁𝗮𝗶𝗹𝗲𝗱 𝐑𝐞𝐩𝐨𝐫𝐭 https://www.alliedmarketresearch.com/behavioral-health-market-A17079
The COVID-19 pandemic affected the behavioral health industry in a fairly positive way, like various other mental health industries were affected. However, as per the behavioral health market analysis, 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 behavioral health market share.
Overall, 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 growth of behavioral health market size.
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.
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 market growth during the forecast period, owing to increase in geriatric population, and rise in number of emergency mental health service centers.
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.
North America accounted for the largest share of revenue in 2021, and is anticipated to maintain its dominance from 2022 to 2031, 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 behavioral health market trends like increase in number of affected population and rise in awareness related to different disorders related to behavioral health.
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About the Authorsneha j
Joined: July 12th, 2022
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