Behavioral rehabilitation Market share, size, trends and analysisaanikhil | August 13, 2019 | 0 | Pharmaceutical and Healthcare
Behavioral rehabilitation Market
During the forecast period, the behavioral rehabilitation market is expected to witness a 7% CAGR. North America leads the global market due to the high incidence of behavioral disorder.
Rising Behavioral Disorder Prevalence:
According to the United States, Department of Health and Human Services DHHS estimates that at some point in their life from childhood to adolescence, one in five 20 % children and adolescents has a mental health disorder. At least one in ten or about 6 million people at some point in their lives have a serious emotional disturbance. Estimating the prevalence of behavioral rehabilitation disorders in children is critical as it helps to deliver the treatments they need for mental health. For the treatment of common mental disorders, several internet interventions have been developed. They help the patient to be monitored remotely, making them easily accessible. These sessions of online counseling are also cost-effective.
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Increasing the availability of behavioral rehabilitation therapies, increasing preferences for partial hospitalization programs PHP and rising government initiatives for behavioral disorders also contribute to market growth.
Lack of Behavioral Disorder Awareness:
According to Mental Health America, 26.2% of the American population suffers from a diagnosable mental health or addiction disorder equal to 59 million Americans. However, for mental issues, 52 % of Americans are not seeking assistance. This lack of proper behavioral disorder awareness is restricting the growth of the market for behavioral rehabilitation. Many people with severe behavioral rehabilitation face challenges such as struggling with symptom disorders, and on the other hand, they are challenged by stereotypes and prejudices resulting from misunderstandings about these behavioral disorders. The impact of stigma on people with behavioral disorders is therefore restricting the market for behavioral rehabilitation.
Furthermore, lack of adequate reimbursement also restricts the global growth of the market for behavioral rehabilitation.
North America dominates the market:
North America dominates the market for behavioral rehabilitation as the rising incidence of mental disorders and the availability of treatment driving the high market share. Government initiatives are also driving market growth. The Affordable Care Act classifies behavioral disorders as essential healthcare, helping to cover major parts of treatment.
Key Market Developments:
December 2017: Universal Health Services Inc. announces the acquisition of Memorial Behavioral Health MBH, which provides adult, adolescent and child health facilities.
Acadia Healthcare, Universal Health Services Inc., Magellan Health Inc., Psychiatric Solutions Inc., Crc Health, Aurora Behavioral Health System, Behavioral Health Group, Haven Behavioral Healthcare Inc., Springstone, Inc., and American Addiction Centers Inc., among others.
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