North America Behavioral Therapy Market Size Forecast to Reach $92.4 Billion by 2026

North America Behavioral Therapy market size is forecast to reach $92.4 billion by 2026, growing at a CAGR of 4.0% during the forecast period 2021-2026. Behavioral therapy is also known as psychotherapy, as it helps in the treatment of the patient’s self-destructive behavior. It is also used to treat anxiety, bipolar disorder, obsessive compulsive disorder (OCD), and other diseases. This treatment is administered by a medical professional in order to replace bad habits with good ones and to help in the handling of tough situations. Behavioral therapy is also used to treat a variety of eating disorders, autism, substance misuse, and other conditions. Behavior therapy does not include a single approach, but rather a variety of strategies that may be utilized to treat a person’s psychological issues. Behavioral therapy involves a variety of activities designed to help patients cope with certain situations such as anger, anxiety, pain, and others. Increasing prevalence of behavioural disorders coupled with growing awareness about mental health among the people are the major factors driving the growth of the market. Increasing government initiatives for increasing awareness about behavior disorders in this region is set to further enhance the overall market development of the North America Behavioral Therapy Market for the period 2021-2026.

North America Behavioral Therapy Market Segment Analysis – By Disorder Type

Anxiety Disorders held the largest share in the North America Behavioral Therapy Market in 2020 and is estimated to grow at a CAGR 4.6% during the forecast period 2021-2026. Anxiety disorders are mental health conditions that involve excessive amounts of anxiety, fear, nervousness, worry, or dread. They have an impact on people of all ages, including adults, children, and teenagers. There are several forms of anxiety disorders, each with its own set of symptoms. Symptoms of anxiety disorder includes restlessness, concentration difficulties, uncontrollable feelings of worry, sleep difficulties, such as problems in falling or staying asleep and many others. Substance Abuse Disorder is estimated to register the higher CAGR over the period 2021-2026.

North America Behavioral Therapy Market Segment Analysis – By Therapy Type

Cognitive Behavioral Therapy held the largest share in the North America Behavioral Therapy Market in 2020 and is estimated to grow at a CAGR 4.2% during the forecast period 2021-2026. Cognitive behavioral therapy (CBT) is a psychosocial intervention that helps to improve mental health. CBT is a type of short-term treatment that helps people find new ways to behave through altering their cognitive processes. CBT focuses on challenging and changing cognitive distortions and habits, increasing emotional control, and developing individualized coping skills for problem management. Cognitive behavioral therapy focuses on changing the habitual negative thoughts that can lead to and worsen emotional problems, sadness, and anxiety. Aversion Therapy is estimated to register the higher CAGR over the period 2021-2026.

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North America Behavioral Therapy Market Segment Analysis – By Geography

U.S. dominated the North America Behavioral Therapy Market with a major share of 79.78% in 2020. This is attributed to increasing prevalence of various psychiatric disorders disorder in this country. According to Anxiety and Depression Association of America (ADAA), Anxiety disorders are the most common mental illness in the United States, affecting 40 million adults aged 18 and up, or 18.1% of the population, each year. Furthermore, growing number of geriatric population coupled with increasing disposable income of the people in this region which increases the demand of North America Behavioral Therapy Market.

North America Behavioral Therapy Market Drivers

Increasing Prevalence of Behaviour Disorder

Increasing prevalence of behaviour disorder such as depression, anxiety etc is increasing the growth of the North America Behavioral Therapy Market. According to National Institute of Mental Health, in U.S. approx. 17.3 million (7.1%) adults had at least one depressive episodes in 2017. Furthermore, rapidly changing life style and increasing work pressure which leads to increase in stress level among individual in this region. Thus, increasing the growth of the North America Behavioral Therapy Market during the forecast period 2021-2026.

Growing Awareness about Mental Health among the People

Increasing awareness about behaviour therapies and social acceptance of behaviour disorders is increasing the growth of the North America Behavioral Therapy Market. Availability of advanced healthcare infrastructure and research and development in behaviour therapy. Thus, increasing the growth of the North America Behavioral Therapy Market during the forecast period 2021-2026.

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North America Behavioral Therapy Market Challenges

Lack of Skilled Professional

Some of the factors that are set to impede the growth of the North America Behavioral Therapy Market are lack of trained medical healthcare providers. Limited access to mental health care providers and lack of compensation is also set to hinder the growth of the market.

North America Behavioral Therapy Market Landscape

Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the North America Behavioral Therapy Market. In 2020, the North America Behavioral Therapy Market share is consolidated by the top ten players present in the market. The North America Behavioral Therapy Market, top 10 companies are Universal Health Services Inc., People’s Care Holdings Inc., Chicago Cognitive Behavioral Treatment Center, LLC., Haven Behavioural Healthcare Inc., Acadia Healthcare, Magellen Health, Inc., Springstone, Behavior Frontiers, CBT California and Manhattan Center for Cognitive Behavioral Therapy.

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Key Takeaways

U.S. dominated the North America Behavioral Therapy Market in 2020 owing to rising prevalence of behaviour disorder. The North America Behavioral Therapy Market scope for different regions will be provided in the final report.

Increasing technological advancement in medical health are likely to aid the market growth of the North America Behavioral Therapy Market report.

Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the North America Behavioral Therapy Market report.

Lack of trained medical healthcare provider is poised to create the hurdles for the North America Behavioral Therapy Market.

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