The behavioral rehabilitation market is expected to witness a CAGR of 7% during the forecast period. North America dominates the global market due to the high incidence of behavioral disorders in the United States.
Growing Prevalence of Behavioral Disorders
According to the U.S. Department of Health and Human Services DHHS, it is estimated that one in every five 20% children and adolescents has a mental health disorder at some point in their life from childhood to adolescence. At least, one in 10, or about 6 million people have a serious emotional disturbance at some point in their life. Estimating the prevalence of behavioral rehabilitation disorders in children is critical, as it helps in providing mental health treatments they need. Several internet interventions have been developed for the treatment of common mental disorders. They help in remote monitoring of the patient, and thus are easily accessible by them. Also, these online counseling sessions are costeffective.
Additionally, increasing availability of therapies for behavioral rehabilitation, increasing preferences of partial hospitalization programs PHP and rising government initiatives for behavioral disorders helps in the growth of the market.
Lack of Awareness of Behavioral Disorders
According to Mental Health America, 26.2% of the American population is suffering from a diagnosable mental health or addiction disorder, which is equal to 59 million Americans. However, 52% of Americans are not seeking any help for mental problems. This lack of proper awareness of behavioral disorder is restraining the growth of behavioral rehabilitation market. Many people with serious behavioral rehabilitation are facing challenges such as the struggle with the symptoms disorders, and on the other hand, they are challenged by stereotypes and prejudice that are a result of misconceptions about these behavioral disorders. Thus, the impact of stigma on people with behavioral disorders is restraining the behavioral rehabilitation market.
Additionally, lack of proper reimbursement is also restraining the growth of behavioral rehabilitation market, globally.
North America is Dominating the Market
North America is dominating behavioral rehabilitation market as rising incidences of mental disorders and availability of treatment, which are driving factors responsible for the high market share. Also, government initiatives are driving the growth of the market. The Affordable Care Act categorizes behavioral disorders as essential healthcare, which helps in covering major parts of the treatment.
Key Developments in the Market
December 2017: Universal Health Services Inc. announces the acquisition of Memorial Behavioral Health MBH, which provides health facility for adults, adolescents and children.
Major Players: ACADIA HEALTHCARE, UNIVERSAL HEALTH SERVICES INC., MAGELLAN HEALTH INC., PSYCHIATRIC SOLUTIONS INC., CRC HEALTH, AURORA BEHAVIORAL HEALTH SYSTEM, BEHAVIORAL HEALTH GROUP, HAVEN BEHAVIORAL HEALTHCARE INC., SPRINGSTONE, INC., AND AMERICAN ADDICTION CENTERS INC. amongst others.
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Current and future behavioral rehabilitation market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter's five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players
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