ALBANY, N.Y, Aug. 5, 2020 /PRNewswire/ -- From 2019 to 2027, the global behavioral health market would witness improvement it its valuation, growing at a CAGR of 2.4%. Growing adoption of telepsychiatry and telehealth is anticipated to be one of the most notable reasons of growth in the market.
As per Transparency Market Research, "The positive outlook for the market is a result of a number of growth factors such as increase in cases of anxiety, sleep disorders, substance abuse, and other such mental disorders, and higher acceptance of mental health issues. Governments across a number of countries are directing efforts towards managing the growing challenge. Celebrity support in breaking taboos around the topic is also paving way for market growth."
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Key Findings of Global Behavioral Health Market Study:
- A gap between growing needs, and number and quality of service providers is noted in the market landscape
- Market is fragmented as a large number of small-scale regional players and individual practitioners mark it
- North America will dominate global behavioral health market over the forecast period
- A robust mental health treatment system is required to deal with growing cases of disorders, which are arising from changing lifestyle
For a detailed analysis of global behavioral health market by disorder, region, and others, visit TOC at https://www.transparencymarketresearch.com/report-toc/45018
Key Drivers of Growth in Global Behavioral Health Market:
- A number of programs to improve access to mental health and outcomes of treatment have been initiated by governments across the globe
- Cases of alcohol and substance abuse are growing and it is creating demand for behavioral health support
- Increase in cases of depression and anxiety, resulting from a hectic and stressful modern lifestyle, is paving way for growth in the market
- Taboos around mental health issues are being broken and this is leading to acceptance of mental health services
- Social and economic hardships, work stress, peer pressure are all adding to the growing mental health challenge, faced by global population
Regional Analysis of Global Behavioral Health Market:
- Asia Pacific (APAC) region is set to present players with business opportunities
- The region will grow at a high rate over the forecast period owing to increase in mental health patients
- Increasing awareness, celebrity support to the cause, and breaking of taboos to contribute to this growth
Analyze global behavioral health market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study https://www.transparencymarketresearch.com/sample.php
Competitive Analysis of Global Behavioral Health Market:
Global behavioral health market is marked by presence of large number of players in the market, making its vendor landscape moderately fragmented. In fact, it is noteworthy here that presence of regional players is quite notable. The report by Transparency Market Research covers recent developments on the competitive landscape, financial overview, business strategies, and details into products.
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Notable global behavioral health market players are The MENTOR Network, Acadia Healthcare, Universal Health Services, Inc., CareTech Holdings plc, Behavioral Health Network, Inc., North Range Behavioral Health, Strategic Behavioral Health, Ascension Seton, Pyramid Healthcare, and Promises Behavioral Health, among others.
Most prominent players in the market are engaging themselves in a slew of organic and inorganic growth strategies that include mergers and acquisitions, development of better services, and collaborative agreements.
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Market Segmentation is as follows:
- Bipolar Disorder
- Alcohol Use Disorders
- Substance Abuse Disorders
- Eating Disorders
- Post-Traumatic Stress Disorder (PSTD)
- Inpatient Hospital Treatment Services
- Outpatient Counselling
- Emergency Mental Health Services
- Home-based Treatment Services
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
Telehealth Market: Competitors and key players in the telehealth market are coming up with technologies and innovations that are crucial in finding new ways to communicate with various patients to adjust to unprecedented times. Technological improvements related to smartphones and enhanced internet connectivity can also have a positive influence on the telehealth market.
Telepsychiatry Market: The growing tendencies of suicide in teenagers and young adults (which happen to be one of the leading causes of death globally), contributes to the increase in demand for mental health treatment. This is expected to drive the telepsychiatry market. In addition, lack of skilled professionals with the ability to treat metal illness, changing regulatory scenario such as the inclusion of certain reimbursement codes for telepsychiatry by Medicare, would contribute to the growth of the market
Mental Health Therapeutics Market: Major factors driving the growth of the mental health therapeutics market include rising geriatric population, mental health reforms, government initiatives for improving mental health care services, and number of people seeking mental health support
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SOURCE Transparency Market Research