U.S. Behavioral Health Market to Expand at 4.7% CAGR from 2023 to 2030; Acadia Healthcare Partnered with ECU Health to Provide Superior Services

The U.S. behavioral health market size stood at USD 79.99 billion in 2022. The market value is slated to rise from USD 83.70 billion in 2023 to USD 115.21 billion by 2030 at a CAGR of 4.7% during 2023-2030. The expansion is being impelled by the growing implementation of favorable policies in the country and the growing adoption of telehealth-based treatments.

Fortune Business Insights™ presents this information in its report titled “U.S. Behavioral Health Market Size, Share & COVID-19 Impact Analysis, By Type (Behavioral & Mental Health, Substance Abuse, Eating Disorders, Trauma/PTSD, and Others), By Payor (Public Health Insurance, Private Health Insurance, and Out-of-Pocket), and Country Forecast, 2023-2030”.

COVID-19 Pandemic Fueled Industry Expansion Considering the Escalated Prevalence of Mental Disorders

The pandemic period positively influenced industry expansion given the increased incidences of behavioral disorders and mental illness among the U.S. population. This escalated prevalence led to an increase in the demand for these services during the pandemic. This also led to an increase in the revenue of industry players.

Acadia Healthcare Formed a Joint Venture with ECU Health to Provide Better Services to North Carolinians

In July 2022, Acadia Healthcare Company, Inc. formed a joint venture with eastern North Carolina’s premier health system, ECU Health. The facility would provide access to behavioral health treatment and services from specialized teams. The setting would comprise 24 inpatient beds particularly designed for adolescents and children with mental health needs.

Under the deal, the organizations would invest USD 65 million in resource expansion. According to Acadia, the venture would support the development of the next-gen clinicians and mental healthcare workers.

Industry Share to Surge Due to Increased Access to Healthcare

U.S. behavioral health market growth is being impelled by the growing deployment of digital technology and improved access to health services. The tools boost therapy adoption among individuals owing to advanced technology and less time consumption. One such instance is the integration of smartphone and artificial intelligence assisted therapies. These comprise chatbots such as Woebot, Wysa, and others. These tools help patients in the practice of cognitive-behavioral therapy which assists in analyzing their condition.

However, the high costs associated with behavioral therapies and services may hamper industry expansion to a considerable extent. Other factors restraining market growth include the lack of financial resources, limited availability of mental health education, and associated awareness.

Leading Players Enter Partnership Deals to Expand Product Reach

Major industry players focus on devising and implementing various strategic steps for expanding the reach of their products. These include collaborations, merger agreements, research activities, and the development and launch of new products. These steps are being undertaken for consolidating their market positions. Besides, companies are keen to invest in research activities and participate in health conferences for enhancing their business prospects and improving the quality of their services.  

Key Players

• Universal Health Services, Inc. (U.S.)


• BHG Holdings, LLC. (U.S.)


• Acadia Healthcare (U.S.)


• American Addiction Centers (U.S.)


• CuraLinc Healthcare (U.S.)


• BEHAVIORAL HEALTH SYSTEMS, INC. (U.S.)


• North Range Behavioral Health (U.S.)


• Uprise Health (U.S.) 

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/u-s-behavioral-health-market-105298

Key Industry Development

November 2021 – BHG (Behavioral Health Group) shared plans to acquire Meridian’s four Valhalla Place locations dedicated to the opioid treatment program. Through the deal, the company intended to expand its presence in Minnesota.

The company also announced its intent to acquire the in-house B-Tek Lab that provides in-house urine drug screens to all the four program locations. The locations have a joint workforce of 185 counselors, clinicians, and staff and treat over 3,000 patients ailing from opioid use disorder.

Further Report Findings

• Based on type, the market is categorized into substance abuse, trauma/PTSD, eating disorders, behavioral & mental health, and others.
  
  
  
  • The behavioral & mental health segment holds a key position in the market. The surge is due to the availability of various treatment options in the country, which is set to spur the market share.
  
  
  • The substance abuse segment is set to exhibit a moderate CAGR over the analysis period. The rise can be credited to the increasing number of illicit drug users in the U.S.
  
  
  
  


• On the basis of payor, the U.S. market is bifurcated into private health insurance, out-of-pocket, and public health insurance.

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  • The public health insurance segment held a major position in the market. The expansion is due to the growing adoption of insurance under Medicaid and Medicare.
  
  
  • The private health insurance segment accounted for a substantial market share in 2022. The surge is driven by the growing launch of integrated care management programs by insurance providers. In addition, insurers are keen to enter partnerships with hospitals, fueling segmental expansion to a considerable extent.
  
  
  
  

Table of Segmentation