Behavioural Health Treatment Market
Behavioural Health Treatment Market Analysis Report By Disorder (Depression, Anxiety, Schizophrenia, Bipolar Disorder, Alcohol Use Disorders, Substance Use Disorders, Eating Disorders, Post-traumatic Stress Disorders), By Service, By Region -Global Forecast 2020-2027
Behavioural Health Treatment Market to Witness Below-Par 1.2X Growth by 2027, Attributable Mainly to Social Stigma
Depression, anxiety, and post-traumatic stress disorders are the major reasons for high suicide rates across the globe. According to a study by OECD, every year, nearly US$ 104 Bn is spent on the treatment of ill mental health and social support in the U.K. Despite this, the rate of depression and anxiety disorders is perpetually increasing, inadvertently creating opportunities for players in the behavioural health treatment market.
According to an analytical study published by Fact.MR, anxiety would be a relatively common disorder as compared to depression and others, on account of individuals leading a fast-paced lifestyle, requiring them to multitask.
As opposed to the aforementioned favourable dynamics, social stigma related to mental conditions dissuades individuals from seeking professional help. This fact is likely to lead to sluggish growth of the behavioural health treatment market during the forecast period (2020-2027).
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Performance of Home-based Treatment Services to Surpass Outpatient Counselling
The advent of the on-demand service model underpinning the concepts of telepsychiatry offers the choice to patients to avail home-based treatment services. Besides enhancing the comfort feature, home-based treatment services also offer significant cost benefits and reduced wait times.
On the back of these factors, home-based treatment services are projected to witness a CAGR of around 3% in the behavioural health treatment market during the forecast period.
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Social Stigma Associated with Behavioural Health Treatment to Limit Market Growth
Conventional beliefs and social taboos associated with seeking consultation for mental health would continue to exert a strong influence on individuals. Impact of the social stigma associated with mental health issues is relatively adverse in developing regions of Asia Pacific as compared to other regions.
Limited accessibility to proper counselling and care further continues to limit the revenue prospects for the behavioural health treatment market. However, in future, where telemedicine will take over the conventional brick-and-mortar counselling setting, players in the behavioural health treatment market would require conformation to data privacy policies to achieve the seamless marketability of their software and services.
Europe to Remain Global Leader with a Share Tantamount to 47% by 2027
The behavioural health treatment market in Europe is projected to witness a significant rise in revenue by 2027, around 21% up from the revenue generated in 2019. Numerous cases of alcohol abuse and substance abuse among individuals in the region are hard-pressing central authorities to control such cases and take preventive measures.
Efforts taken by major research institutes such as the Mental Health Europe, Lisbon Institute of Global Mental Health, and European Association of Substance Abuse have emphasised the dire need to address behavioural health concerns. According to a report published by WHO in 2018, Europe continues to account for the highest levels of alcohol consumption in the world, leading to the highest rate of deaths attributable to alcohol consumption.
This is leading to a significant rise in the number of inpatient and outpatient care centres, intended at offering easy accessibility to mental health treatment in the region. The development of software and services by players concentrated in Europe is further strengthening its position in the global behavioural health treatment market.
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Behavioural Health Treatment Market – Assessment of Key Segments
Authors of the report have segmented the behavioural health treatment market into three key categories, based on disorder, service, and region. An in-depth analysis into the behavioural health treatment market can be obtained through the assessment of key market segments. Each of these segments provide information regarding incremental opportunities in the behavioural health treatment market during the forecast period (2020-2027). Key segments in the behavioural health treatment market include:
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