The global behavioral health market size is projected to surpass around US$ 242 billion by the end of 2027 from estimated USD 140.01 billion in 2019.
The global behavioral health market is anticipated to expand at a impressive CAGR of 5.02% during forecast period 2020 to 2027.
Growth Factors
Human behavior is always being considered as one of the important indicators to judge the wellbeing of human society. Across the world, there is a continuous rising problems related to behavioral health disorders and it surge rapidly which leads to increasing the demand for behavioural health products. The major factor promoting the growth of the market is due to increasing self-awareness followed by increasing per-capita healthcare expenditures. Easy availability of expert in urban region is also the cause of growth in the segment. Furthermore, social acceptance in the society also promotes the individuals to come up and openly discuss the behavioural issue. Technological innovation like Cognitive Data collection and Artificial intelligence helps the physician to provide targeted therapy to the patients suffering from behavioural disorders.
Rising investment in technological advancement is the major clue for the treatment of behavioral health in the future. The rapid penetration of the various activity related application which helps in the collection of the behavioral issues of the patients. Mobile devices like smart phones, tablets, and others are constantly providing information to the doctors and researchers to increase the understanding of the mental well beings.
Despite a heavy surge in behavioral health, some of the major factor which restricts the growth the market includes the discontinuation of the treatment followed by a lack of trained professionals across the world. Lack of the penetration of the technologies in the various populated countries like India, China, and Indonesia is also considered one of the major factors which limits the growth of the market.
Service Type Insights
This research study segments the global market based on various parameters such as service type, disorder type, and end-user. Depending on service type, this market is classified into Inpatient hospital treatment, intensive care management, home-based treatment services, outpatient counselling, and emergency mental health services. The home-based treatment services segment is estimated to grow at the highest CAGR within the forecast period. The growth is mainly associated with public awareness and various government programs run across the city to opt for the treatment. At, the present the public is also quite aware and keen to take care of both health and mind. However, Inpatient hospital treatment dominates the behavioral health market. The same segment anticipated to generate high revenue within the forecasted year. The growth is mainly associated with patients suffering from anxiety is higher in the society among the others.
Disorder Type Insights
In terms of the disorders, the behavioural health market is classified into anxiety disorder, bipolar disorder, depression, eating disorder, post-traumatic stress disorder, substance abuse disorder, and others. Anxiety-related disorders dominate the behavioural disorders market and will remain the same within the forecasted year followed by depression. Anxiety is a kind of behavioural disorder characterized by excessive down emotions with nervousness, fear, and worry. A recent study has shown there is a huge spike in Anxiety patients in the last decades. These patients also shown the symptoms of panic attacks, OCD(obsessed thoughts), and post-traumatic disorders.
End-use Insights
Depending on end-users the global behavioural health market is categorized into outpatient clinics, rehabilitation centers, hospitals (emergency), and homecare settings. The outpatient clinics is predicted to occupy the largest market share in the year 2020 and will uphold this trend within the forecast year. Rapid technological advancement and the penetration of the internet are considered the mark key for both self as well as for creating awareness across the world.
Regional Insights
Behavioral health becomes an important aspect of global studies. North America does the most quality studies related to behavioral health and its impact on society. United States also proved to be quicker acceptance and implication of the technological advanced products. As per the WHO, it is found that costs for the treatment for the behavioral disorders prove to be much higher compared to the other major chronic condition. As per the study, it is also concluded that around 36% of the U.S. population suffering from some kind of mental disorder in their lifetime. A rising percentage of the geriatric population in Europe is also considered as a major concern that promotes the growth of mental disorders. A large pool of population exists in Asia pacific, with rapid economical development followed by increasing per-capita healthcare expenditure considered as one of the major driving factors for the growth of the behavioral health market.
Key Companies & Market Share Insights
Some of the significant players in the behavioral health market include:
Segments Covered in the Report
This research report estimates revenue growth at global, regional, and country levels and offers an analysis of present industry trends in every sub-segment from 2016 to 2027.This research study analyzes market thoroughly by classifying global Behavioural Health market report on the basis of different parameters including type of service, disorder, end-user and region:
By Service Type
By Disorder Type
By End-Users
By Regional Outlook
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