Behavioral Health Market to Grow at a CAGR of 2.4% from 2019 to 2027
Behavioral health diagnoses expanded over the past decade as a larger number of youngsters cope with mental health disorders and issues such as substance abuse. With the increasing burden of fast-paced lifestyles, along with increasing incidences of mental health issues, the burden and magnitude of behavioral health concerns continues to escalate. According to WHO, around 800,000 suicidal deaths are witnessed every year. Such scenarios are raising alarming concerns pertaining to public health, thereby driving the behavioral health market growth.
Some part of the rise in behavioral health diagnoses may stem from the growing access to mental health services witnessed, especially in developed countries. Such initiatives are becoming the need of the hour to administer improved behavioral healthcare and push the prospering behavioral health market even further. Transparency Market Research (TMR), in its recently presented study on the behavioral health market, unravels the essentials of the industry, closely emphasizing indications that showcase key developments in the market.
Request a PDF Sample on Behavioral Health Market Report -
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=45018
Behavioral Health Market: Mapping the Evolutionary Path
Mental health and substance abuse issues in adolescents have become a pivotal societal concern. While behavioral health has gained stronger footing in current times, its acceptance gained prominence in the 20th century. The origin of the mental hygiene movement led to the establishment of the National Commission of Mental Hygiene in 1909. From 1919 onwards, internationalization of the activities of this Commission directed the establishment of some national associations pertaining to mental hygiene. According to studies, suicide rates rose steadily from 1999 to 2014, and major depression gained prevalence from 2005 onwards.
Certain developments could be perceived along the evolutionary path after around half a century of mental health and a century of mental hygiene movements. Social stigma attached to mental illness appeared to stimulate efforts directed at social control. Behavioral health concerns are snowballing beyond imagination, in wake of which, the market is likely to generate a revenue of ~ US$ 200 Bn in 2019. Rising behavioral health issues coupled with increasing measures implemented to tackle the same are expected to manifest growth opportunities for behavioral health market players.
Behavioral Health Market: Strategies Driving Competitors on Success Path
Improve Access to Behavioral Healthcare
Although there is the high need and urgency for behavioral health services, patient adherence remains low. Increasing incidences of behavioral health issues require better and improved access to treatment and counselling. This has focused competitors’ attention towards collaborations and joint ventures to set up or acquire care facilities. Health systems are directing investments towards a variety of specialized emergency services, which include holding units, telepsychiatry, and behavioral health-specific emergency units.
Compete with Low-cost Service Providers
Skyrocketing healthcare costs continue to haunt individuals dealing with health challenges. The cost of behavioral healthcare provided by leading service providers continues to remain high. However, as there is an increasing preference for affordable care by individuals and patients, behavioral health market players aim to compete with low-cost service providers in a bid to capture a larger consumer base. Adopting a collaborative care model encompassing behavioral health services in primary care is likely to showcase positive financial return on investment, and is also supported by reimbursements.
Request for a Discount on Behavioral Health Market Report -
https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=73906
Expand Services in Developing Countries
Key players are engaged in the development of new facilities and expansion of services for behavioral health. Strategies such as acquisitions and collaborations to establish a presence in untapped markets and acquire facilities are being incorporated by leading behavioral health market competitors. A number of strategies put to action across developing countries, particularly in Asia Pacific economies, in a bid to improve the approach to address behavioral health issues, are likely to offer growth opportunities for competitors.
Analysis of the Competitive Landscape
In May 2018, Acadia Healthcare and Saint Thomas Health signed a joint venture agreement for the expansion and enhancement of access to behavioral healthcare in Tennessee. This partnership included the establishment of a new psychiatric inpatient hospital at Metro Center in Nashville, covering 36 geriatric psychiatric beds and 40 adult psychiatric beds.
In March 2019, BlueMountain Capital Management announced the launch of a new national behavioral health platform—Promises Behavioral Health, which would initially operate 12 programs and facilities across seven states to offer a comprehensive range of treatment options for sexual addiction, substance abuse, eating disorders, trauma, and other mental health disorders, along with programs for veterans.
The global behavioral health market is highly fragmented, with the presence of a number of large-scale organizations and individual service providers. Although there are organized key players operating in this market, a majority of the market is serviced by individual practitioners and small-scale regional players. Leading companies are also acquiring hospitals and similar healthcare facilities in an attempt to expand their consumer reach.
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving method-ologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of re-search is the key to help enterprises reach right decision.
Contact
Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
Website: http://www.transparencymarketresearch.com
Blog: https://theglobalhealthnews.com/