Global Behavioral Rehabilitation Market: Overview
The global behavioral rehabilitation market is driven by the growing awareness among people regarding the availability of therapeutic options. The prevalence of behavioral disorders is also increasing, driving the behavioral rehabilitation market. The growing efforts and initiatives taken by governments across the globe in this direction will also push the growth of this market. Some of the programs started by governments to help people affected with behavioral rehabilitation are The Affordable Care Act and Substance Abuse and Mental Health Services Association grants. These initiatives are expected to reduce substance abuse and also encourage people to adopt therapy and behavioral rehabilitation. Thus, the global behavioral rehabilitation market is anticipated to see positive growth during the forecast period.
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Global Behavioral Rehabilitation Market: Key trends
The altering perception of people towards behavioral rehabilitation is one of the key trends as well as a driving force, fueling the growth of this market globally. The societal or public acceptance of behavioral disorders is extremely encouraging and is motivating patients to actively seek correct treatment. Patients are no more hiding or reluctant to discuss their mental health status, which is acting as a prime driver for the increasing adoption of behavioral rehabilitation. The increasing incidences of public shooting and random mass murders have created an urgent need for improved and efficient diagnostic therapeutic options for behavioral disorders. Moreover, an increasing number of people are coming forward and seeking therapies owing to the categorization of mental health treatment into essential care benefits by the Affordable Care Act.
Global Behavioral Rehabilitation Market: Market Potential
As per the WHO, one in four people from across the globe are bound to be affected by some form of mental disorder and at present around 450 mn people are affected from some form of mental condition. This has resulted in the placement of mental disorders as one of the leading causes of disability or ill health around the globe. While treatments are available, only two third people come forward to seek help, states the WHO report.
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The global behavioral rehabilitation market is expected to grow as the number of people dealing with stress and high level emotions, resulting in behavioral diseases is increasing by the day. People suffering from depression and substance abuse have increased and this will benefit the global behavioral rehabilitation market. The market is likely to grow as more players are entering in the market to fill the gap between demand and supply. Leading players are participating in mergers and acquisitions so as to expand their reach worldwide. Players are concentrating on offering outpatient services, which are being increasingly preferred over healthcare settings, due to their cost effectiveness.
Global Behavioral Rehabilitation Market: Geographical Segmentation
North America is anticipated to continue to lead in the global behavioral rehabilitation market on account of a heightened level of awareness among the people regarding mental disorders. The availability of advanced treatments and therapeutics will also help the market in this region to grow significantly. North America also enjoys favorable government regulations and initiatives coupled with reimbursement options. Moreover, private insurance providers are also entering in the competition and are benefitting the market by fueling the number of patients taking treatment.
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While North America holds the dominant position in the global behavioral rehabilitation market, it is Europe, which will witness the fastest growth in the coming years. the growing number of private institutes and availability of low cost treatment options are likely to drive the European behavioral rehabilitation market towards rapid growth. The growing adaptation of technologically advanced methods is expected to be another key driver. The use of software for instance, to record and analyze data is making the treatment a lot more improved and streamlined.
Global Behavioral Rehabilitation Market: Key Players
The global behavioral rehabilitation market is highly fragmented. There exists a large number of players in the market. However, the recent times have witnessed considerable number of mergers and acquisitions. This echoes the dynamic nature of the global behavioral rehabilitation market. Leading institutes engaged in offering behavioral rehabilitation services to people affected worldwide include: Springstone, Inc., American Addiction Centers, Inc. Acadia Healthcare, Aurora Behavioral Health System, Haven Behavioral Healthcare, Inc., CRC Health, Magellan Health, Inc., Universal Health Services, Inc., Behavioral Health Group, and Psychiatric Solutions, Inc.
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