Behavioral Health Market to Register Substantial Expansion by 2027

Mental and emotional well-being of an individual is termed as behavioral health. It is the study of the behaviors, emotions, and biology related to an individual’s well-being as well as their ability to function daily task. The terms metal health and behavioral health are often used interchangeably. Personality disorders or depression, substance abuse disorders or other addictive behaviors are the most common mental illnesses with which the most of the population is struggling throughout the world. Behavioral health integration is an effective strategy adopted to improve the outcomes for the millions of individuals with behavioral or mental health conditions worldwide. This strategy primarily focuses on early screening and detection of mental disorder in collaboration with the primary care doctors; treatment of the metal illness in its early stage; and providing education related to substance use disorders (SUDs).

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SUDs primarily occurs when the recurrent use of alcohol or drugs leads to impairment such as disability, health issues, and inability to perform major activities at home, school, or work. Thus, it is one of the major contributors to the healthcare costs due to lost productivity and crime. According to the Substance Abuse and Mental Health Services Administration (SAMHSA), it costs more than $600 billion each year to address the impact of SUDs alone in America. However, behavioral healthcare companies are working towards minimizing these costs with the adoption of new value-based medicine paradigm that prevents readmissions in hospitals through SUD and mental health treatment programs.

Behavioral Health Market: Drivers and Restraints

Rising awareness related to behavioral health issues and behavioral therapy has substantially increased the demand for behavioral health treatment thus driving the growth of the behavioral health market. The favorable supply and demand dynamics in the behavioral health market will continue to meet the rising demand for behavioral health services. Growing acceptance of treatment for mental health issues and substance of abuse and increasing political support to address the issue will drive the growth of behavioral health market. In addition to this, expanding insurance coverage with structured reimbursement environment for the treatment of behavioral health disorders. With age, the number of individuals diagnosed with behavioral health issues will increase rapidly. However, social stigma related to behavioral health issues and dearth of mental health professionals are the major factors restraining the growth of the behavioral health market.

Behavioral Health Market: Overview

The behavioral health market is highly fragmented with a fewer number of large hospitals and large service providers, followed by a fragmented second tier of private players with several different business models. However, the adoption of the newly introduced Medicare value-based model of reimbursement and healthcare service will drive the consolidation in the industry. Thus, the behavioral health market will continue to consolidate among financial buyers and market leaders to strengthen their service offerings and expand geographically. American Addiction Centers, Inc. and Acadia Healthcare Company are the two most active companies in making acquisition to expand their geographical reach in the behavioral health market. Over the past two years, Acadia has completed 13 acquisitions while American Addiction Centers made six acquisitions. Here are the few examples of recent acquisitions in the industry. For instance, in November 2016, Crossroads acquired a provider of substance abuse treatment services, Starting Point, to expand its presence in South Carolina. Likewise in October 2015, Behavioral Health Group acquired two addiction treatment programs in Virginia to strengthen its footprint in the U.S.

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Behavioral Health Market: Regional Outlook

Geographically, the global behavioral health market is segmented into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan, Middle East and Africa. North America clearly dominates the global behavioral health market due to awareness of behavioral disorders and expansion of structured reimbursement environment in the region. The behavioral health market in Asia Pacific region is projected to witness significant growth during the forecast period.

Behavioral Health Market: Key Players

Some of the players identified in global behavioral health market include AAC Holdings, Inc., Acadia Healthcare Company, Inc., CareTech Holdings PLC, Cambian Group plc, Centric Health Corporation, Civitas Solutions, Inc., Magellan Health, Inc., Universal Health Services, Inc., Dungarvin, Inc., Epic Health Services, Inc., Pyramid Healthcare, Inc., Hinderer Holding AG, Audax Group, Inc., Cambian Group plc, Wellspring Capital Management LLC, and MyLife Recovery Centers, Inc., among others.

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