USD 1.99 billion
Report ID: SQMIG35D2008 | Region: Global | Published Date: September, 2022 | Pages: 165 | Tables: 69 | Figures: 75
Behavioural Health Market size was valued at USD 1.99 billion in 2021 and is poised to grow from USD 2.22 billion in 2022 to USD 5.04 billion by 2030, growing at a CAGR of 10.8% in the forecast period (2023-2030).
The demand for behavioural health therapies has been driven by fast-paced lives, anxiety problems, and substance addiction. In addition, many people advocate for improving mental health and getting professional assistance. This is then anticipated to have a beneficial impact on the market for behavioural health. The provision of solutions like tele-psychiatry, digital pills, digital symptom tracking, and development of remote monitoring technologies are some of the significant market advancements. The market is significantly impacted by the use of online behavioural health resources, the rise in mental illnesses, and the evolution of programmes and awareness campaigns for mental health.
Consumer faith in herbal supplements has grown globally. They are prepared to incorporate herbal supplements into their daily diet plans, which has contributed to the market's expansion. In addition, customers are turning to more affordable solutions like herbal supplements due to high healthcare expenditures, a sedentary lifestyle, tighter government budgets, and rising prices of dietary and medical products. Herbal medicines are proving to be the most secure solution for obtaining long-lasting relief from bodily and mental illnesses.
Major drivers of market expansion include government funding, rising use of mental health software, supportive behavioural health reforms, government initiatives to encourage EHR adoption in psychiatry hospitals and facilities, and high demand for mental health services despite a shortage of providers.
Treatment of problems with mental wellbeing is probably going to get better when management software is used by healthcare practitioners. Adoption of integrated EHRs can also assist behavioural health practises in cost-saving and efficient practise management. Telemental health entails communicating with patients who are located elsewhere via video conferencing. By reducing barriers like information sharing and confidentiality—both of which are especially common in circumstances involving substance abuse—the real-time monitoring system makes it easier for patients and carers to communicate. The effectiveness and efficiency of care are improved by combining contemporary technologies with tried-and-true therapy modalities.
Global Market Size
USD 1.99 billion
Outpatient Counselling for Behavioral Health
Outpatient Counselling for Behavioral Health
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The Global Behavioural Health Market is segmented on the basis of Service, Disorder, and Region. Based on Service the market is segmented into home-based treatment services, outpatient counselling, emergency mental health services, inpatient hospital treatment, and intensive care management. based on end-use the market is segmented into bipolar disorder, anxiety disorder, depression, post-traumatic stress disorder, eating disorder, substance abuse disorder, and others. Based on the region, the global market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Behavioural Health Market Analysis by Service
In terms of service, the outpatient counselling sector is expected to lead the market in 2022. Outpatient counselling services are flexible and convenient for patients and their families, which has contributed to this segment's domination. Patients are permitted to return home after each therapy session, making it the most preferred sort of service.
Behavioural Health Market Analysis by DisorderAnxiety and depression were the most prominent disorder sector in the worldwide behavioural health market in 2022, followed by substance addiction disorder. Anxiety and depression are the most frequent and widespread behavioural disorders. The greater public awareness of anxiety and depression has aided in the uptake of behavioural health treatments in the United States.
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In 2022, Europe led the worldwide behavioural health market. The region's market is largely driven by an increase in the prevalence of behavioural health problems such as depression and anxiety. An increase in the number of drug addiction and alcohol abuse disorder cases is also expected to fuel the regional behavioural health market. Furthermore, the existence of significant competitors and developments such as acquisitions, collaborations, and the opening of new facilities are expected to boost the European behavioural health market.
During the projected period, the North American market is expected to increase at a modest rate. Strategic initiatives such as the opening of new facilities and acquisitions are projected to boost the region's behavioural health business. In 2022, Asia Pacific will have a significant proportion of the worldwide behavioural health market. The region's market is being pushed by a rise in the number of instances of alcohol misuse and drug use disorder.
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Behavioural Health Market Driver
Surging Demand for Behavioural Health Services due to Rise in Depression Rates across Globe
Behavioural Health Market Restraint
Clinical and scientific knowledge gaps to create market challenges
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According to the research, prominent manufacturers are always improving their goods in order to attract new clients and increase their Service range in order to enhance their market position in all key nations. Besides, the rise in public and private support for specialized research provide market participants with profitable options. Furthermore, the increasing number of Service approvals, current implant developments, and technical improvements are some of the other aspects expected to contribute to a positive market outlook.
Behavioural Health Market Top Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to the behavioural market report analysis, the key reasons in the market related with the fall in BPS values include gaps in clinical and scientific knowledge, the prevalence of ineffective and sub-scale care systems, and walled health care data management. According to macro and industry standards, the global behavioural health market is influenced by regional criteria in behavioural treatment, poor reimbursement rates, and ethical issues in psychiatric care.
|Market size value in 2021||USD 1.99 billion|
|Market size value in 2030||USD 2.22 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Behavioural Health Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Behavioural Health Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Behavioural Health Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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The behavioral health market is projected to grow at a CAGR of 3.10% during the forecast period of 2022-2029.
Limited access to mental health providers, lack of trained mental health care provider, low awareness regarding treatment option among general population and limitation of primary care services are major challenges for the Behavioural Health Market.
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