Prepared for Tan P. | Delivered October 1, 2020
Industry Analysis of Behavioral Health
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To have an analysis of the behavioral healthy industry, including the US market size and growth rate, 3-5 key players, new entrants (particularly big healthcare companies and new startups), and important changes over the past 3 years.
Market Size and Growth
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
this year, after an annualized growth rate of 4.2% over the past five years.
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
today. However, the 2014 figure, when including ancillary services, came to over $300 billion.
There is a substantial
need for mental healthcare. In 2014, over half of the population who needed care, wasn't receiving it. This means the space has room for a lot of growth, and new players.
Spending on psychiatry in the US grew by
% between 2014 and 2018. Meanwhile, the mental health apps market in the US was worth US$
million in 2018. This space is projected to have a growth rate of
% from 2019 to 2027.
behavioral health market was approximately US$2,509.45 million (2.5 billion) last year. The global CARG was 11.22%.
The market is heavily
, 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
include AdvoServ, Aurora, Beacon Health Strategies, CRC Health Group, Eating Recovery Center, and more.
Treatment has largely shifted from
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
on their mental health.
We found that there is a lot of public
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.