Market Size and Growth

• Public appreciation for the importance of mental health has increased in the US over the last 5 years.
• Revenue from mental health and substance abuse clinics specifically, was expected to be $24.5 billion this year, after an annualized growth rate of 4.2% over the past five years.
• In 2014 the US mental health and substance abuse services industry included over 17,000 facilities with a combined annual revenue of around $50 billion. At the above noted 4.2% growth rate, that would equate to $64 billion today. However, the 2014 figure, when including ancillary services, came to over $300 billion.
• There is a substantial unmet need for mental healthcare. In 2014, over half of the population who needed care, wasn't receiving it. This means the space has room for a lot of growth, and new players.
• Spending on psychiatry in the US grew by 43% between 2014 and 2018. Meanwhile, the mental health apps market in the US was worth US$ 587.9 million in 2018. This space is projected to have a growth rate of 23.7% from 2019 to 2027.
• The global behavioral health market was approximately US$2,509.45 million (2.5 billion) last year. The global CARG was 11.22%.

Key Players

• The market is heavily segmented, with no major players holding more than 5% of the market (within the mental health and substance abuse clinics space - though the rest of the industry is similar). Large players include Universal Health Services, Behavioral Health Group, Behavioral Health Group, and American Addiction Centers
• Other noteable industry participants include AdvoServ, Aurora, Beacon Health Strategies, CRC Health Group, Eating Recovery Center, and more.

Other Changes

• Treatment has largely shifted from inpatient to outpatient.
• Covid-19: Every year, around 20% of adults in the United States (47 million) experience mental illness. More than one-third of Americans (36%) say that COVID-19 is having a serious impact on their mental health.

Information Availability

• We found that there is a lot of public analysis of the impact of the pandemic on this industry, particularly in terms of how the restrictive situation has impacted people's mental health, and then their access to it via more virtual means. We could cover this under "other changes" in our research.
• We found that there was no publically available market size just for the US for the broader category of behavioral health, nor the regional segment share of the US, in order to triangulate a figure from the global size. We have, however, provided figures above which help provide a good indication of the size of the market.