Behavioral Rehabilitation Market Set to Surpass US$ 208 Billion by 2030
The global behavioral rehabilitation market size is forecasted to reach from US$ 150 billion in 2021 to US$ 208 billion by 2030, growing at a CAGR of 3.7% from 2021 to 2030, as per reports by market research and consulting organization Precedence Research.
The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030. The behavioral rehabilitation market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit). The report offers exclusive insights to help companies make informed decisions to sustain growth through the assessment period.
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The global behavioral rehabilitation market is primarily driven by the rising prevalence of various mental health disorders such as anxiety, depression, substance abuse, and attention deficit disorders. The rising awareness regarding the availability of behavioral rehabilitation services, increasing awareness regarding mental health disorders, and increased expenditure on the health and wellness. The busy and hectic lifestyle of the consumers, sedentary lifestyle, rising unemployment, and rising attraction of youth towards illicit drugs are the major causes that may lead to various mental health disorders.
The government initiatives to spread awareness regarding the mental health and various treatments are major fueling the demand for the behavioral rehabilitation services across the globe. Moreover, the rising number of rehabilitation service providers across the global markets is boosting the growth and development of the behavioral rehabilitation market. Moreover, the recent outbreak of the COVID-19 pandemic positively impacted the market growth. During the pandemic many people lost their jobs and stayed at their homes for prolonged time period. It resulted in depression, anxiety, and other mental disorders that spiked the demand for the rehabilitation services in 2020.
Report Scope of the Behavioral Rehabilitation Market
|Market Size||USD 208 Billion by 2030|
|Growth Rate||CAGR of 3.7% From 2021 to 2030|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2021 to 2030|
|Segments Covered||Disorder Type, Application|
The report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation and so on.
Some of the prominent players in the global behavioral rehabilitation market are listed as below:
- Allergan, Inc.
- Novartis AG
- Taro Pharmaceutical Industries
- Perrigo Company plc
- Zynerba Pharmaceuticals
- Apotex Inc.
- Sandoz AG
- Strides Arcolab Ltd.
- TOLMAR Pharmaceuticals, Inc.
North America dominated the global behavioral rehabilitation market in 2020, garnering a market share of over 40%. The rising prevalence of mental health disorders in the nation like US is the primary reason behind the dominance of this region. According to the US Department of Health and Human Services, around 20% of the children and adolescents suffered from mental disorders in their life at some point of time. Around 10% of people suffered from severe emotional disorders at some point in their life. Moreover, the rising number of drug addicts has fueled the growth of the behavioral rehabilitation market. According to the United Nations Office on Drugs and Crime, in 2013, around 27 million people were suffering from drug use disorder. Around 24% to 36% of the heroin consuming population passes through correctional system annually in US. Furthermore, the rising government initiatives to promote mental wellness is fueling the demand or the rehabilitation services in the region.
Asia Pacific is estimated to be the most opportunistic market during the forecast period. Asia Pacific is expected to provide lucrative growth opportunities owing to the rising disposable income, presence of huge population of youth, rising consumer expenditure on health and wellness, growing number of rehabilitation service providers, and rising awareness regarding mental health disorders.
The rising awareness regarding the mental health disorders and awareness regarding the availability of behavioral rehabilitation services is fueling the demand for the rehabilitation services across the globe. Further, the increased efforts by the NGOs in spreading the awareness regarding the mental health are playing a positive role in the market growth.
The lack of awareness regarding the mental health disorders like anxiety, personality disorders, and depression in the underdeveloped economies is a major factor that may hinder the market growth. Further, the lack of proper healthcare infrastructure and lower penetration of behavioral rehabilitation services in the underdeveloped markets presents a major challenge for the market players.
The advancements in the field of various therapies like cognitive behavioral therapy and the various developmental strategies adopted by the top market players are expected to offers growth opportunities in the upcoming future.
Based on the disorder type, the anxiety segment dominated the market in 2020. This is attributed to the increased cases of anxiety across the globe.According to a study, in 2017, around 284 million people were estimated to be suffering from anxiety disorder, globally. According to the Anxiety and Depression Association of America, around 18.1% of the US population aged 18 years or above suffers from anxiety each year. But only around 37% of the patients gets treatment. Anxiety is the most common mental disorder and hence is expected to sustain its dominance during the forecast period.
Based on the application, the outpatient was the dominant and is expected to be the most opportunistic market during the forecast period. This is attributed to the freedom and convenience offered by the outpatient care. In outpatient care, the patient receives the treatment in the rehabilitation center during day time and then the patient is allowed to go back to their home and families. This offers convenience to the patient and his family and hence it is gaining rapids traction in the market.
In May 2020, Limbix received around US$ 9 million in series A funding, which will be utilized to develop digital therapeutics for the teens who are suffering from depression. The various developmental strategies like acquisition, partnerships, mergers, and government policies fosters market growth and offers lucrative growth opportunities to the market players.
Segments Covered in the Report
By Disorder Type
- Mood Disorders
- Anxiety Disorders
- Personality Disorders
- Substance Abuse Disorders
- Attention Deficit Disorders
– North America (U.S. and Canada)
– Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
– Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
– Latin America (Brazil and Rest of Latin America)
– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Why should you invest in this report?
If you are aiming to enter the global behavioral rehabilitation market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for behavioral rehabilitation are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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