The global behavioral therapy market size is projected to grow substantially owing to the increasing prevalence of behavioral disorders among people, observes Fortune Business Insights™ in an upcoming report, titled, “Behavioural Therapy Market Size, Share & Industry Analysis, By Type (Cognitive Behavioural Therapy, Cognitive Behavioural Play Therapy, Systematic Desensitization, Aversion Therapy), By Application (Depression, PTSD (Post-Traumatic Stress Disorder), Eating Disorders, Anxiety Disorders, Substance Abuse), By Patient Type (Children, Adult), By Treatment Settings (Hospitals, Outpatient Clinics, Community Health Centers, Others) and Regional Forecast, 2020-2027.” According to the World Health Organization, the number of people suffering from depression was estimated to be 4.4% in 2015. These statistics are expected to normalize patients opting for behavioral therapy.
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The COVID-19 pandemic is specifically affecting the healthcare sector owing to the rapid scarcity of resources in hospitals due to the amplifying number of coronavirus positive cases. Restrictive regulations regarding social distancing are expected to significantly reduce the number of appointments, forcing the healthcare industry to a standstill.
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Highlights of the Report:
While making the report, we segmented the market on the basis of product, type, consumption, distribution channel, and region. Based on the segmentation, we made a list of companies and conducted a detailed analysis of their financial positions, product portfolios, and growth strategies. Our next step included the study of core competencies of key players and their market share to anticipate the degree of competition. The bottom-up procedure was conducted to arrive at the overall size of the market.
Rising Population of Patients Suffering from Behavioral Disorders Globally to Drive Growth
According to the World Health Organization, over 264 million people of all ages across the globe have suffered from depression. The increasing cases of behavioral disorders, such as depression, anxiety, anger issues, and Post-traumatic Stress Disorder (PTSD), among people are encouraging them to opt for behavioral therapy. This is expected to drive the growth of the global behavioral therapy market. However, the lack of awareness, coupled with the limited access to mental health care providers is expected to limit growth.
Advanced Healthcare Infrastructure in the U.S. to Help North America Dominate
North America is anticipated to dominate the global behavioral therapy market owing to the growing population of patients suffering from mental health in the U.S. For Instance, as per the National Institute for Mental Health, in 2017, nearly 17.3 million adults in the U.S. suffered from at least one episode of behavioral disorders. In addition, the advanced healthcare infrastructure in the region, coupled with the surging research on behavioral therapy is expected to further drive growth.
The Europe behavioral therapy market is forecast to showcase robust growth in the projected timeline. The increasing number of patients related to mental disorders and the rising social acceptance regarding behavior related disorders in the region are expected to drive growth of the market for behavioral therapy.
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Offering Internet-based Therapy to Help Key Players Expand Their Customer Base
Key players operating in the global behavioral therapy market are focusing on eliminating the major challenges faced by the industry. This will help them lead the competition and expand their customer base. For Instance, in September 2018, Morneau Shepell Ltd. launched internet-based cognitive behavioral therapy for patients suffering from mental disorders. This will help the company break the geographical barriers and provide therapy to patients who are unable to be physically present.
Industry Developments-
- In November 2019, SSQ Insurance partnered up with mental health services HALEO (for sleep disorders) and MindBeacon Group (for moderate symptoms of anxiety and depression) to provide digital cognitive behavioral therapy.
- In October 2018, Medavie Blue Cross and Medaca Health Group launched a virtual cognitive behavioral therapy pilot project to provide easier access to mental healthcare to patients.
A List of Key Manufacturers Operating In the Global Behavioral Therapy Market Report:
- Magellen Health, Inc.
- Acadia Healthcare
- Universal Health Services, Inc.
- Springstone
- American Addiction Centers
- Haven Behavioral Healthcare, Inc.
- Behavioral Health Group
- PEOPLE’S CARE HOLDINGS, INC.
- Others
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What are the key segments in the market?
By Type
- Cognitive Behavioural Therapy
- Cognitive Behavioural Play Therapy
- Systematic Desensitization
- Aversion Therapy
- Others
By Application
- Depression
- PTSD (Post-Traumatic Stress Disorder)
- Eating Disorders
- Anxiety Disorders
- Substance Abuse
- ADHD (Attention-Deficit/ Hyperactivity Disorder)
- Bipolar Disorder
- Others
By Patient Type
- Children
- Adult
By Treatment Settings
- Hospitals
- Outpatient Clinics
- Community Health Centers
- Others
By Geography
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
With tables and figures helping analyse worldwide Global behavioural therapy Market Forecast provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
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