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Wilmington, Delaware, United States, June 06, 2022 (GLOBE NEWSWIRE) — The global market study on behavioral health market is witnessing steady creation of lucrative opportunities on the back of demand for services for mental health disorders particular for depression. The scope has stridently expanded from increasing acceptance of behavioral health for substance use disorders such as alcohol use disorders and post-traumatic stress disorder (PSTD). A study by TMR projects the behavioral health market to move past the worth of US$ 262 Bn by 2031.
Behavioral health market statistics indicate telepsychiatry practices brimming with opportunities. Furthermore, growing awareness of these practices in community healthcare settings is increasingly broadening the behavioral health market outlook. The authors of the study observed that mental health service providers are geared toward grabbing profitable avenues through community-based psychiatric care.
A recent behavioral health market revenue analysis underscores the increasing trend of use of mental health software in telemedicine. This has significantly favored better outcomes of behavior health services notably across outpatient clinics, emergency centers, and large medical centers. In effect, their demand has been growing to meet the need of persons serving the military, and their family members.
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Key Findings of Behavioral Health Study
- Improved Outcomes and Increased Access to Patient Care Fillips Popularity of Telepsychiatry Services: The authors of the TMR study observed that telepsychiatry services are gaining significant adoption, thereby offering incredible revenues to mental health service providers. The popularity of these in the behavioral health market stem from the cost-effectiveness, remarkable patient confidentiality and privacy, and quality of care. The demand for telepsychiatry services has increased notably for post-traumatic stress disorder. A well-evolved telehealth practices will enrich the value chain of companies offering telepsychiatry services in the behavioral health market.
- Massive Demand for Market Behavioral Health Services for Substance Use Disorder to Propel Revenue Growth: Industry players in the behavioral health market are witnessing vast revenue potential in the massive demand for their services and solutions for managing substance use disorders. The increasing trend of integration of care for mental health and substance abuse in developing countries has broadened the revenue streams for the companies. Furthermore, growing cases of alcohol abuse disorder globally has spurred the demand for behavioral health services.
- Rise in Number of People Suffering From Stress and Depression Pivots Enormous Market Opportunities: Substantial demand for behavioral health treatments for stress and depression has created abundant avenues. Stakeholders in the behavioral health market are witnessing massive growth prospects on the back of rising incidence of depression and stress among children and young and older adults. The high economic burden of depression has nudged primary health clinics and medical centers to focus more on depressive illnesses.
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Behavioral Health Study: Key Drivers
- Stakeholders in the healthcare industry are stressing on integrating behavioral health with primary care to advance quality health care. In several countries, the focus has led companies integrate care delivery networks for meeting the client’s demand in the behavioral health market, thus expanding its outlook.
- Rise in incidence of mental health disorders over the past few years especially among adults stands as a key underpinning for evolution of the behavioral health market
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Behavioral Health Study: Regional Growth Dynamics
- Europe held a leading share of the global behavioral health market in 2020. The growth of the regional market is catalyzed by presence of key players geared toward addressing the prevalence of a number of behavioral health disorders.
- Opportunities in the North America behavioral health market are projected to advance at promising pace during the forecast period of 2022 – 2031. The adoption of behavioral health treatments has grown substantially for the elderly population.
- Asia Pacific is anticipated to be a potentially lucrative market for behavioral health services. Rise in incidence substance use disorder cases over the decades have reinforced the growth of the Asia pacific behavioral health market.
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Behavioral Health Study: Key Players
Some of the prominent players in the behavioral health market are:
- Promises Behavioral Health
- Universal Health Services, Inc.
- Pyramid Healthcare
- North Range Behavioral Health
- CareTech Holdings plc.
- Behavioral Health Network, Inc.
- Ascension Seton
- Acadia Healthcare
Behavioral Health Study Segmentation
- Disorder Type
- Depression
- Anxiety
- Schizophrenia
- Bipolar Disorder
- Alcohol Use Disorders
- Substance Use Disorders
- Eating Disorders
- Post-traumatic Stress Disorder (PSTD)
- Others
- Service Type
- Inpatient Hospital Treatment Services
- Outpatient Counselling
- Emergency Mental Health Services
- Home-based Treatment Services
- Others
Regions Covered
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Healthcare Industry Reports by Transparency Market Research:
Schizophrenia Drugs Market: Rise in the prevalence of schizophrenia, approvals for additional indications, and launch of new schizophrenia drugs are driving the schizophrenia drugs market. The number of patients that are suffering from schizophrenia has been increasing across the world.
Depression Drugs Market: The evolving regulatory landscape, along with the fast-paced development of new depression medications are likely to influence the overall growth trajectory of the depression drugs market during the assessment period.
Controlled Substance Market: Rise in attention deficit hyperactivity disorder prevalence and recently launched products in this category are some of the major factors expected to drive the ADHD segment in the global controlled substance market in terms of application.
Cardiopulmonary Stress Testing Systems Market: Rising geriatric population and increase in prevalence of coronary artery diseases such as acute myocardial infarction & angina pectoris are projected to drive the global cardiopulmonary stress testing systems market during the forecast period.
Substance Abuse Treatment Market: Increasing awareness about the initiatives taken by the governments and manufacturers is likely to propel growth opportunities in the market. Further, a significant rise in the abuse of prescription drugs is also propelling growth avenues in the market.
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