The global behavioral health market size was around USD 42.3 Bn in 2022 and is likely to reach USD 66.9 Bn by 2031, expanding at a CAGR of 4.9% during 2023–2031. The growth of the market is attributed to the rising prevalence of mental disorders across the globe and the growing awareness regarding mental health.
Behavioral health refers to the study and treatment of mental disorders that deals with the emotional, psychological, and social well-being of an individual. It is also known as mental health, which includes the overall behavior of an individual such as eating and drinking habits, emotions, and interaction with others.
Behavioral health includes anxiety, depression, bipolar disorders, eating disorders, and schizophrenia, which range from mild to severe. Some of the known causes of behavioral health disorders include past experiences, chronic medical conditions, high consumption of alcohol and drugs, biological factors or chemical imbalance in the brain, trauma and history of abuse, and feelings of loneliness.
Behavioral health depends on sleep, diet, and physical activity. It is important for human beings to maintain a positive outlook, as it helps cope with everyday stress. It lowers anxiety problems and reduces the risk of depression, which improves the quality of life and decreases stress. It boosts a person’s spirit and productivity, enhances self-image, and improves interpersonal relationships.
The market report finds that the COVID-19 pandemic surged the behavioral health market. At the initial stage of the pandemic, the adoption of virtual care services for behavioral health therapies increased, due to the rising depression and anxiety problems among the population. Furthermore, as per the study of the World Health Organization (WHO), in 2020, around 264 Million people suffered from depression.
Behavioral Health Market Dynamics
Major Drivers
Rising self-awareness among individuals is a major factor driving the market during the forecast period. Self-awareness is learning or understanding oneself, which includes being aware of one’s own feelings and character, improves decision-making skills, communication, and confidence.
Furthermore, growing awareness regarding behavioral health among the population, thereby boosting the market. Human behavior is considered an important indicator to judge well-being. Rapid growth in the problems related to behavioral health disorders around the globe is driving the demand for behavioral health therapies.
Rapid increase in mental health issues is a major factor driving the market. Mental health problems affect around one in five individuals. Moreover, the rising prevalence of chronic diseases accelerates the market. Chronic diseases cause depression and mood disorders, which are recognized as the leading mental health issues.
Existing Restraints
Lack of awareness regarding the behavioral health treatment option among the general population in rural areas is likely to restrain the market. Furthermore, the limitations of primary care services and the lack of insurance coverage hinder the market in the coming years.
Emerging Opportunities
Increasing investments in technological advancement offers lucrative growth opportunities for behavioral health treatment in the market during the projected period. The growing penetration of smartphones and internet-related applications and the emergence of telehealth and mHealth apps provide information to increase the understanding of mental well-being, which propels the market.
Scope of Behavioral Health Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Behavioral Health Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Disorder Type (Anxiety, Depression, Substance Abuse Disorders, Bipolar Disorders, Eating Disorders, Attention-Deficit/Hyperactivity Disorders, Post-Traumatic Stress Disorders, Schizophrenia, and Others), Service (Inpatient Hospital Treatment, Outpatient Counseling, Home-based Treatment Services, Intensive Case Management, Emergency Mental Health Service, and Others), Payor (Public Health Insurance and Private Health Insurance/Out-of-Pocket), and Age Group (Pediatric, Adult, and Geriatric)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Behavioral Health Market Size and Analysis, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Acadia Healthcare; Universal Health Services, Inc.; Elevance Health; Beacon Health Strategies; Behavioral Health Network, Inc.; Centene Corporation; Behavioral Health Services; Caretech Holdings PLC; Civitas Solutions; Magellan Health, Inc.; North Spring Behavioral Healthcare; Ocean Mental Health Services; Promises Behavioral Health; Pyramid Healthcare Inc; and Strategic Behavioral Health, LLC
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Behavioral Health Market Segment Insights
Disorder Type Segment Analysis
On the basis of disorder type, the behavioral health market is segmented into anxiety, alcohol use disorders, depression, substance abuse disorders, bipolar disorders, eating disorders, attention-deficit/hyperactivity disorders, post-traumatic stress disorders, schizophrenia, and others. The depression segment is expected to register a robust growth rate in the coming years, due to the rising suicide rates across the globe.Depression is a leading cause of death. It is a mood disorder characterized by persistent sadness, which reduces interest in day-to-day activities and can last for weeks, months, or even years.
- According to the World Health Organization (WHO), more than 700,000 people die every year by committing suicide, due to depression or mood disorders.
The substance abuse disorder segment is projected to grow at a rapid pace during the projection period, due to the increasing consumption of alcohol and drugs among the young population. It can lead to serious health problems including liver and heart disease and stroke. Substance abuse disorders directly affect a person's brain and social health.
- As per the World Health Organization (WHO), in 2019, over 180,000 deaths across the globe were directly linked to drug use disorders.
- As per the National Center for Drug Abuse Statistics, around 31.9 Million people in the US use illegal drugs and around 8.1 Million of them have a drug use disorder.
Service Segment Analysis
Based on service, the market is divided into inpatient hospital treatment, outpatient counseling, home-based treatment services, intensive case management, emergency mental health service, and others. The outpatient counseling segment is anticipated to expand at a considerable CAGR during the forecast period, owing to the high availability of various behavioral therapy at affordable costs. This service is favorable, as it does not require patients to stay at the hospital for a long period of time and it can be customized as per the patient’s requirement.
The home-based treatment segment is expected to grow at a significant pace during the assessment period, due to the rising disposable income of the population. In this treatment service, patients feel comfortable, as they’re in a known and comfortable setting and around family and friends who can care for them. The conveniences provided by home-based treatment is likely to propel the market.
Payor Segment Analysis
Based on payor, the behavioral health market is segmented into public health insurance and private health insurance/out-of-pocket. The public health insurance segment is expected to register a robust growth rate during the forecast period, owing to the rising demand for behavioral therapies. Medicare and Medicaid are the two types of public health insurance. For instance, on December 31, 2022, Acadia Healthcare Medicaid accounted around 51% of its revenue, 30% from commercial payors, 15% from Medicare, and 4% from other payors.
The private health insurance/out-of-pocket segment is projected to hold a large market share in the coming years, as the strategic initiatives taken by the government such as outreach programs and launching integrated care management. Private health insurance refers to the health insurance plans promoted by the insurance industry as compared to government-run insurance programs.
- According to the US Census Bureau, private health insurance coverage continued to be more prevalent as compared to public coverage around 66.0% and 35.7% in 2021.
Age group Segment Analysis
Based on age group, the market is fragmented into pediatric, adult, and geriatric. The adult segment is projected to expand at a high CAGR during the projection period, due to rising job or money worries and other stressful life events among adults.
The geriatric segment is expected to grow quickly, owing to the growing geriatric population at a rapid pace across the globe. As per the WHO, around 5% of adults and 5.7% of the geriatric population across the globe suffers from depression every year.
Regional Analysis
In terms of region, the global behavioral health market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the forecast period, owing to the presence of well-developed healthcare infrastructure and favorable reimbursement policies in the healthcare system.
The growth of the market in the region is attributed to the growing awareness related to different behavioral health disorders, increasing consumption of drugs, and rising depression among the population. According to the American Psychiatric Association, around 6% of US citizens from age 18 and onwards suffer from major depressive disorder every year which leads to a loss of productivity.
Segments
The global behavioral health market has been segmented on the basis of
Disorder Type
- Anxiety
- Depression
- Substance Abuse Disorders
- Bipolar Disorders
- Eating Disorders
- Attention-Deficit/Hyperactivity Disorders
- Post-Traumatic Stress Disorders
- Schizophrenia
- Others
Service
- Inpatient Hospital Treatment
- Outpatient Counseling
- Home-based Treatment Services
- Intensive Case Management
- Emergency Mental Health Service
- Others
Payor
- Public Health Insurance
- Private Health Insurance/Out-of-Pocket.
Age Group
- Pediatric
- Adult
- Geriatric
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Acadia Healthcare
- Universal Health Services, Inc.
- Elevance Health
- Beacon Health Strategies
- Behavioral Health Network, Inc.
- Centene Corporation
- Behavioral Health Services
- Caretech Holdings PLC
- Civitas Solutions
- Magellan Health, Inc.
- North Spring Behavioral Healthcare
- Ocean Mental Health Services
- Promises Behavioral Health
- Pyramid Healthcare Inc
- Strategic Behavioral Health, LLC
Competitive Landscape
Key players competing in the global behavioral health market are Acadia Healthcare; Universal Health Services, Inc.; Elevance Health; Beacon Health Strategies; Behavioral Health Network, Inc.; Centene Corporation; Behavioral Health Services; Caretech Holdings PLC; Civitas Solutions; Magellan Health, Inc.; North Spring Behavioral Healthcare; Ocean Mental Health Services; Promises Behavioral Health; Pyramid Healthcare Inc; and Strategic Behavioral Health, LLC.
Some of these companies adopted development strategies including mergers, acquisitions, partnerships, collaboration, and product launches to boost their consumer base worldwide. For instance,
- On February 3, 2023, Behavioral Health Network was selected by the Commonwealth of Massachusetts as a community partner to support MassHealth members with behavioral health.
- In March 2021, Acadia Healthcare entered into a partnership with Lutheran Health Network of Indiana LLC to focus on building hospitals for mental disorder services
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