Market Trends of Behavioral Rehabilitation Industry
This section covers the major market trends shaping the Behavioral Rehabilitation Market according to our research experts:
Anxiety Disorder Expected to Hold a Significant Share of the Behavioral Rehabilitation Market During the Forecast Period
Anxiety disorders are one of the most common types of mental disorders. Their emotional symptoms may include feelings of apprehension or dread, feeling tense or jumpy, restlessness or irritability, anticipating the worst, and being watchful for signs of danger. Factors such as the growing prevalence and availability of therapies for behavioural rehabilitation and rising concerns about health are expected to boost the market's growth. Anxiety disorders are curable, and several effective treatments are available. Treatment helps most people suffering from anxiety disorders lead normal and productive lives. This factor is leading to increased demand for treatment options.
The prevalence of anxiety disorders is increasing across the world. According to Mental Health America's October 2021 State of Mental Health in America report, in the United States, 23.7% of people were living with a mental health condition which was a significant increase as compared to previous years. The report also stated that the number of people reporting signs of anxiety and depression since the COVID-19 outbreak reached an all-time high in the years 2020 and 2021. The massive increase in the number of people suffering from anxiety and mental health disorders is expected to boost the market's growth.
Additionally, the increasing number of product launches is expected to drive the market. For instance, in July 2021, Happify Health launched a transdiagnostic prescription digital therapeutic called Ensemble, which is used to treat patients with major depressive disorder (MDD) and generalized anxiety disorder (GAD). Thus, these factors are expected to boost the anxiety disorder segment significantly.
North America Expected to Hold a Major Share of the Market During the Forecast Period
North America is the largest behavioral rehabilitation market globally, with the United States occupying the major share.
Developed countries, including the United States and Canada, have witnessed the opening of many mental health rehabilitation centers over the past decade, owing to the rising number of people suffering from mental health issues. For instance, according to the CDC data published in November 2022, about 31.7% of US adults experienced mental illness in October 2022. The data also stated that 1 in 5 US adults experience mental illness each year. Synchronizing physical and behavioral patient data into one record and delivering integrated care represents an opportunity for providers to catalyze better health outcomes for patients and communities.
Moreover, the market players are focusing on new launches in the behavioral health market. For instance, in July 2021, Happify Inc. announced the availability of Ensemble, a transdiagnostic prescription digital therapeutic for the treatment of patients 22 years of age and older with major depressive disorder (MDD) or generalized anxiety disorder (GAD). Hence, with the launch of such therapeutics for mental disorders, the market studied is believed to witness strong growth in the United States.
Furthermore, there have been increasing initiatives taken by the US government to create awareness about mental health and manage the same in the country. For instance, in August 2021, the United States Tennis Association (USTA), the national governing body for tennis, launched a mental health initiative to support the players. Therefore, favorable government initiatives are fueling the growth of the market studied in the region. The Affordable Care Act categorizes behavioral disorders as essential healthcare, which helps cover the major part of the treatments. Thus, such factors are boosting the market's growth.
