Therapy Market Size

Goals

To understand the number of therapists in the United States, including speech, occupational, and mental health therapists. Additionally, to understand the current and projected TAM for the next 10 years, along with any projected shortages based on the number of therapists and expected graduates.

Early Findings

Mental Health Therapy

Market Size

  • In 2018, the behavioral health therapy market was worth $183,400,000.
  • The industry is expected to grow at a CAGR of 8.3 percent between 2019 and 2025, reaching a market size of $347,300,000 by 2025.
  • Globally, North America holds the largest share of this market, "with a consumption market [of] share nearly 52.5 percent in 2017".

Addressable Market

  • Nearly 20 percent of American adults have one or more mental health conditions, for a total of 46.6 million adults in 2017.
  • Also in 2017, 7.5 million American adults diagnosed with a "serious mental illness" sought treatment.
  • "In the United States, only 41 percent of the people who had a mental disorder in the past year received professional health care or other services."

Employment Statistics

  • In 2018, there were 304,500 behavioral health counselor jobs in the United States.
  • The industry has a 22 percent job growth outlook for 2018 through 2028, which is defined by the Bureau of Labor Statistics as being "much faster than average".
  • "The United States is expecting its number of clinical mental health counselors to grow much faster than normal from 134,500 to 160,900 in the coming decade. Nearly 25 percent of these positions will be created in individual and family services."
  • By 2028, there are anticipated to be 373,100 positions in this industry.
  • Throughout the United States, California, Pennsylvania, Virginia, New York, and Massachusetts have the most significant rates of employment for mental health counselors.

Proposed next steps:

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