Pune, India, October 25, 2021 (GLOBE NEWSWIRE) – The US Behavioral Health Market Size is expected to grow from $ 77.62 billion in 2021 to $ 99.40 billion in 2028. Today’s clinicians are integrating unique technologies into their treatment procedures to provide better models of patient care delivery. In April 2021, for example, Life Clips, Inc. affiliate Cognitive Apps Software unveiled the Yuru 3-in-1 tool.
It will be used to manage and understand their mental health. It was developed by a team of psychotherapists to provide assistance. According to a report released by Fortune Business Insights â¢, titled âUS Behavioral Health Market, 2021-2028,â the market was worth $ 68.79 billion in 2020. It is expected to grow at a CAGR of 3.6% during of the forecast period between 2021 -2028.
Get a sample PDF brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/us-behavioral-health-market-105298
List of key players in the US behavioral health market:
- Universal Health Services (King of Prussia, Pennsylvania)
- Behavioral Health Group Inc. (Dallas, Texas)
- Acadia Healthcare (Franklin, Tennessee)
- American Substance Abuse Centers (Tennessee, USA)
- IBH (Irvine, California)
- CuraLinc Healthcare (Chicago, Illinois)
- Behavioral Health Systems (Birmingham, Alabama)
- North Range Behavioral Health (Greeley, Colorado)
- Other important players
Scope and segmentation of the report
|Cover of the report||Details|
|Forecast period||2021 to 2028|
|Forecast period 2021 to 2028 CAGR||3.6%|
|2028 value projection||$ 99.40 billion|
|Year of reference||2020|
|Market size in 2021||$ 77.62 billion|
|Historical data for||2017 to 2019|
|Number of pages||71|
|Covered segments||Behavioral and Mental Health, Substance Abuse, Eating Disorders, Trauma / PTSD|
|Growth drivers||The availability of cost-effective scientific technologies and changing culture changes are expected to result in improved access to behavioral health services in the United States.|
|The popular app used to treat depression and stress saw a 50% increase in the number of new users at the start of the pandemic phase.|
Acadia Healthcare acquires Adventist Health Vallejo to provide better patient service
In February 2021, Adventist Health Vallejo, a US-based mental hospital, signed an agreement with Acadia Healthcare. It will allow the first to sell its behavioral health services to the second. Acadia will be able to build the capacity of the first to provide top quality substance use and behavioral health services. According to a company official, âThis acquisition would allow Acadia to bring its expertise to meet the needs of the community. It would also allow the company to expand its services.
To learn more about the short and long term impact of COVID-19 on this market,
Please visit: https://www.fortunebusinessinsights.com/us-behavioral-health-market-105298
COVID-19 Pandemic: Growing Adoption of Virtual Consolation Services to Drive Growth
The healthcare sector has been hit hard by the COVID-19 pandemic. To prevent transmission, Americans avoid hospital visits. It therefore enables companies to provide virtual health services to patients for the treatment of a wide range of behavioral health issues, such as trauma / PTSD, addiction and mental illness. Such initiatives are expected to propel the growth of this market in the midst of the pandemic. However, clinicians face huge financial losses due to the low number of daily in-person visits.
The report involved four notable activities to project the current size of the market. Extensive secondary research was conducted to collect data on peer markets. Our next step included primary research to authenticate these sizes, assumptions, and results with many industry experts. We have also used bottom-up and top-down approaches to calculate the size of this industry.
Talk to our analyst:
Drivers and constraints-
Extending Insurance Coverage and Digital Services to Increase Growth
The availability of cost-effective scientific technologies and changing culture changes are expected to result in improved access to behavioral health services in the United States. In addition, companies invest huge sums to expand their services included in insurance coverage. It would help many people get the treatment they need. The COVID-19 pandemic has led to the massive adoption of digital solutions for treatment services. Brightside, a popular app used to treat depression and stress, saw a 50% increase in the number of new users at the start of the pandemic phase. On the contrary, the lack of data and lack of R&D activities regarding these disorders could hamper the growth of the US behavioral health market in the near future.
Mental Illness Prevalence Increased to Boost Mental and Behavioral Health Segment
Based on type, the US behavioral health industry is segmented into behavioral and mental health, addiction, eating disorders, trauma / PTSD, and others. Of these, the behavioral and mental health segment got 49.0% in terms of the US behavioral health market share in 2020. It is expected to maintain its dominant position in the coming years due to the increase. cases of mental illness. The National Alliance on Mental Illness (NAMI) has stated that each year more than 43 million Americans suffer from mental illness.
Key Companies Aim to Provide New Processing Options Through Mergers and Acquisitions
Major organizations operating in this industry are constantly striving to offer cutting edge treatment options for various disorders. Universal Health Services is one of the leading companies in the market. It has a large number of facilities across the United States. Some of the other companies are focusing on mergers and acquisitions to strengthen their positions. Below is one of the industry developments:
- december 2020: IBH Population Health Solutions acquired HMC Health Works to expand its strong capabilities in the EAP and Opioid and Pain Management and Managed Behavioral Health segments. This would help the company to deliver comprehensive and digitally sophisticated products and services.
Do you have a question ? Ask our experts:
Fortune Business Insights â¢ delivers accurate data and innovative business analytics, helping organizations of all sizes make the right decisions. We tailor innovative solutions to our clients, helping them meet various challenges unique to their business. Our goal is to provide them with aggregate market insights, providing them with granular insight into the market in which they operate.
Fortune Business Insights â¢ Pvt. Ltd.
308, Supreme Headquarters,
Investigation n Â° 36, Baner,
Pune – 411045, Maharashtra, India.
United States: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
E-mail: [email protected]